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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.
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Friday, June 27, 2008
New Hope for New Orleans Kids: Jindal Signs Landmark Education Reform Bill
Comtex
WASHINGTON, June 27, 2008 /PRNewswire-USNewswire via COMTEX/ ----Louisiana Now on the Map for Private School Choice
Louisiana Governor Bobby Jindal yesterday signed a landmark $10 million scholarship program into law. The new program will benefit low-income families in New Orleans and marks a major turning point for education reform in the Bayou State.
Sponsored by two New Orleans Democrats -- Senator Ann Duplessis and Representative Austin Badon -- the plan passed both houses of the Louisiana Legislature with bipartisan support.
With the new school year fast approaching, it is estimated that hundreds of students will apply for scholarships of up to $6,300 to attend the private school of their parents' choice. For the first year of the program, only children in public schools, grades K-3, are eligible to participate.
For each additional year, the scholarships would continue to support those students as they advance to the next grade level, with new groups of K-3 students entering every year. This indicates that the program could grow incrementally, and benefit more students each year.
The scholarships are reserved for children in families with an income that does not exceed 250 percent of federal poverty guidelines.
"This new program represents a major victory for New Orleans families," said Charles R. Hokanson, Jr., president of the Alliance for School Choice. "We commend Governor Jindal, Senator Duplessis, Rep. Badon and the many courageous legislators who have made quality educational opportunities a priority for New Orleans students. We also thank the many families and organizations for their hard work in helping to bring this new option to parents."
The Alliance for School Choice is the nation's largest nonprofit organization promoting school vouchers and scholarship tax credit programs. www.AllianceForSchoolChoice.org
SOURCE Alliance for School Choice
http://www.allianceforschoolchoice.org
Copyright (C) 2008 PR Newswire. All rights reserved
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