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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 / Industries / Transportation
Thursday, October 02, 2008
Airlines Open Higher As Oil Prices Retreat
Jim Jelter
MarketWatch Pulse
SAN FRANCISCO -- Airlines stocks rallied at the open Thursday as crude-oil futures continued to decline. The Amex Airline Index rose 2% in early trades to 23.50 points, with a 6% gain by US Airways setting the pace for the big carriers. Southwest Airlines and Continental were also showing strong gains after reporting September traffic numbers, down 5.9% and 10.9%, respectively. November crude-oil futures were last down $2.38 a barrel at $96.15 in New York.
Copyright © 2008 MarketWatch, Inc.
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