Topic: Disclosures

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There’s still time to shove it under the bed….
August 21, 2003—New accounting rules requiring companies to ‘fess up about their off-balance sheet obligations will require many companies to start pulling back the curtain on these formerly hidden obligations by the end of next month. Despite this, PG&E, the large California energy company, is still trying to figure it all out. In its 10-Q filing for […]

A 30 percent boost
August 20, 2003—Many savvy investors already know that pensions are one of the best earnings sweeteners around (for a more in-depth discussion of pensions, see Chapter 7, Pensions in Wonderland). But a new study by two Federal Reserve Board economists shows just how sweet pension profits can be. The economists found that some stocks were inflated by […]

If only we were so lucky….
August 18, 2003—Dozens of companies including Apple Computer and Delta Airlines have recently announced option exchange programs, according to recent 10-Q filings. This perfectly legal accounting trick, which surfaced several years ago, allows employees to exchange their underwater options for new lower priced ones as long as they wait six months and a day to get the […]