Tip of the iceberg in corporate mismanagement - corrupt Dell top executives sought accounting adjustments to reach quarterly performance goals
Peter Khanna
Aug. 18, 2007

This is what went on in corporate America in the name of guidance and quarterly performance improvement. Dell is just the start of the scandal. Almost all companies will start restating earnings.

According to media reports, Dell Inc said that it would restate four years of financial results, reducing net income for the period by as much as $150 million, after a lengthy audit found that top executives sought accounting adjustments to reach quarterly performance goals.

The restatement, affecting a small fraction of the billions of dollars Dell earned in the period, was greeted with relief by some analysts who had expected more serious consequences.

Tip of the iceberg in corporate mismanagement - corrupt Dell top executives sought accounting adjustments to reach quarterly performance goals
Peter Khanna
This is what went on in corporate America in the name of guidance and quarterly performance improvement. Dell is just the start of the scandal. Almost all companies will start restating earnings.
READ MORE>>

The credit market defies Fed action – Federal Reserve in deep trouble for the first time – a typical stagflation sliding into deflation
Peter Oberois
The Federal Reserve’s half a point reduction in discount rate is received by the credit market poorly. The liquidity crunch will not go away and the long term rates shot up for the fear of inflation. Gold jumped and then started sliding.
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Federal Reserve finally realizes the problem – the discount rate cut is just a temporary relief
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The futures market literally collapsed due to lack of liquidity. The Panicked Fed cut discount rate by 05% but that will halt the route for a few days or perhaps a week before the meltdown starts again.
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Dow makes stunning comeback
Media Release
Major gauges erase most of the day's losses, as investors recover from mortgage, credit fears; Dow, Nasdaq, S&P 500 stabilize after falling 10% from 2007 highs.
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Identity theft ring targeted Forbes 400 - prosecutors
Media Release
The five men charged face 25 years in prison if convicted.
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Venezuela is creating its own oil-field services company to reduce dependence on foreign contractors
Media Release
Oil Minister Rafael Ramirez said the state-run oil company Petroleos de Venezuela SA, or PDVSA, is starting its own version of Houston-based Halliburton Co to provide services within the oil-producing country.
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The Producer Price Index report shows the inflation is slowly changing to disinflation – Fed rate cut is near
John Mendolsa
The drop in PPI from earlier months is very significant. Normally before a recession hits the major economies, the PPI falls apart from its highs. This is exactly what has happened now.
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Stagnation in German economy is the first sign the stagflation has reached the heart of EU – time to buy dollar index?
Kara Zeilig
German economic growth is slowing very fast due to a failed boom in construction market. This has severe effects on the Euro Zone economies. German economy is faltering very fast.
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