options / complacency / broadcom brcm
http://immobilienblasen.blogspot.com/2006/08/shock-options-ausma-grer-wie-bei-enron.html (only german)
Broadcom's Backdating Expenses Double to $1.5 Billion
Broadcom Corp., a computer-chip maker under investigation for stock-options backdating, discovered more irregularities that will double its expenses to at least $1.5 billion, the most for any company in the widening scandal. (bis jetzt / so far...)
Earnings for 1998 and 1999 must be restated, Irvine, California-based Broadcom said today in a statement. Most of the non-cash expenses will affect periods through the end of 2003.
``Stockholders are hit twice,'' said Michael Cohen, an analyst for San Diego-based Pacific American Securities. ``First you're stolen from, then the stock goes down when the theft is uncovered.''
In July, Broadcom said it would have $750 million in costs after an audit committee found options backdating from 2000 to 2002. That review continues
The $1.5 billion expense would be more than twice the $727.5 million in total net income Broadcom reported for its four profitable years since going public in 1998, according to data compiled by Bloomberg. The company had $6.63 billion in net losses for the other four years.
``More serious than effect on share price is what it says for the culture of the company,'' said Cohen, who rates the stock ``buy'' (konsequent...)
Broadcom's audit committee discovered the extra expenses after expanding its review to cover the period from June 1998 to May 2003. The $1.5 billion amounts to more than $500,000 for each person employed by Broadcom during that six-year period
übersicht der letzten 3 jahre
bleibt noch zu erwähnen das trotz dieser horromeldung vom freitag nur knapp über 1% verloren hat. das zeigt wohl deutlicher als alles andere die gleichgültigkeit / indifference / complacency.
wichtiger ist wohl was die fed macht. komplett gaga!