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Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement
in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers,
and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business.
In short, don't blame the accountants if the company files for bankruptcy protection.
You¿d reckon that a going-concern
statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically
bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know
more than the bean counters.
During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.
Home / Markets / Economy
Thursday, August 21, 2008
Weekly Jobless Claims Drop to 432,000
Associated Press
WASHINGTON--The government says the number of newly laid-off workers seeking unemployment benefits fell more than expected last week, the second straight weekly drop from a six-year high.
The Labor Department says applications for jobless benefits dropped to 432,000, down by 13,000 from the previous week. That was a steeper drop than analysts expected.
But claims remain elevated compared with recent years. The four-week moving average climbed to 445,750, the highest in almost seven years.
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