options / complacency / broadcom brcm

am freitag ist fast ne meldung untergegangen die einmal mehr zeigt wie gleichgültig der markt z.zt. auf echte horromeldungen reagiert. die vorgeschichte zu den optionsskandal und speziell broadcom hier
http://immobilienblasen.blogspot.com/2006/08/realsatire-von-charles-hugh-smith.html
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
http://www.bloomberg.com/apps/news?pid=20601087&sid=aJbPjCB7jywE&refer=home

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

PERIOD ENDING

31-Dec-05

31-Dec-04

31-Dec-03

Net Income

411,729

218,745

(959,865)

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!

jan-martin