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 / Industries / Telecom

Thursday, July 03, 2008

Harris Corporation's Dr. Andrew Clark Tapped by U.S. Department of State to Represent Industry on Key United Nations Advisory Committee

Email this Story | Respond to Editor | Print

Comtex

MELBOURNE, Fla., July 3, 2008 /PRNewswire-FirstCall via COMTEX/ ----Dr. Andrew Clark, president of Harris Maritime Communication Services, a subsidiary of Harris Corporation (NYSE: HRS), has been appointed to the U.S. National Committee of the Intergovernmental Oceanographic Commission (IOC) for a term of three years. This body, appointed by the U.S. State Department, reports to the U.S. National Commission, and is authorized under the Federal Advisory Committee Act to provide guidance and advice to the United Nations Educational Scientific and Cultural Organization (UNESCO).

IOC-UNESCO, headquartered in Paris, provides member states of the United Nations with a mechanism to assist governments in addressing oceanic and coastal problems through the sharing of knowledge, information and technology, and through coordination of global and regional programs. The advisory panel's membership is comprised of thirteen nationally recognized experts, each representing different facets of the nation's investment in ocean-related initiatives. Dr. Clark's appointment to represent U.S. industry was the result of a nationwide call-for-nominations to the country's private sector.

"The ocean has no geopolitical borders and is the engine that drives Earth's habitability," said Dr. Clark. "This reality makes international cooperation and collaboration essential to the effective management and stewardship of our oceans. The visibility granted this committee is evidenced by its membership and the focus it gives oceanographic initiatives and their impact to national security, the economy -- and the rest of the world."

Harris Maritime Communication Services (MCS) is a pioneer and world leader in developing autonomous ocean observing technology that enables transmission of data from the sea floor and ships at sea. MCS uses this same technology to provide broadband communications to some of the most underserved regions of the world -- from remote scientific outposts in the polar regions to countries devastated by natural or man-made disasters.

About Harris Corporation

Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has annual revenue of more than $5 billion and 16,000 employees - including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications(R) products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.

SOURCE Harris Corporation

http://www.harris.com/

Copyright
   (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Sunday,
   06-29-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated a DOWNTREND on 06-11-2008
   for HRS @ $55.10. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend
   is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.