Wednesday, September 05, 2007

 

Quick Alert: USNA has Retained PWC as Auditor

As you know, I touched on this "Important Matter" several months ago. The bears, like Minkow, say USNA is fraudulent and pretty much full of shit. I can say, with a high degree of confidence, the fact that PWC (Price Waterhouse Coopers) accepted a role with USNA, there is very little chance that USNA has been baking the books.

Now, that doesn't mean the stock is a buy. It just means the company is operating legally, as it should.

I suspect the short squeeze may continue, effectively "milking Minkow" and his stupid followers.

Comments:
Many thought the accounting firm of Arthur Andersen brought legitmacy to Enron. I don't trust any of them.
 
fly, I curiously ask, if an auditor drops a company, is it an immediate short? Do youh ave any experience with this, or seen the results?

Auditor a doesn't issue an unqualified report, a qualified report, adverse report, nothing.

He just says, "FUCK this company, were/I'm leaving" and leaves, forcing the company has to find a new auditor.

Totally hypothetical, but I remember getting a flyonthewall tick saying XYZ co. was dropped by their auditor, and I really want to go back and see what happened PPS wise.

Bueler?
 
Danny--

It's hard to say. Sometimes auditors resign for fee's, sometimes because they feel the company is criminal.

However, in a case like USNA, being that the company was under so much scrutiny, there is no way PWC would link up with them without the company being 100% clean.

As for Arthur Anderson:

Totally different culture than PWC. They had it coming to them.
 
Tell that to all the junior partners in the 99% of the firm that had never heard of Enron, and who had just shelled out $300k for their equity stakes.

That was a gov't screwing of huge proportions, and such measures should never be contemplated in a free society again.
 
You short BIDrU at you own pelil, Hans Brix!!
 
AA was an unfortunate event in American business history.

No need to worry about the AA guys. Business was not lost, merely transfered to PWC and the others.
 
Hey Fly- in advance, I don't care what you think about TA.

Anyway, the charts today look completely normal- as if this is just a pullback from near overbought conditions.

I want to see the Naz hold 2600, however.
 
thanks fly.

shed - TA is divination
 
Danny. I'm not divinin' nothin'. I'm just saying that on the charts it looks like a normal day.
 
This country may be going into recession, but the old fogies will still buy drugs, people will still want to be entertained via games, video, electronic devices, etc..and brewed beverages,..well, they will hardly experience a recession. 9I would argue for larger consumption during economic downturn.)

Anyone following TEVA, ESRX, ERTS, BUD ?

Any other ideas along these lines?
 
MHS may be better than ESRX.
 
Video games? Anyone that plays video games that is over 18 is a loser. Sorry, it is just the truth.
 
New equity, only if there name ends in y, and they are over 18, as in Scotty, Ricky, Bobby, or Danny.

Sorry Danny.
 
New Equity, go suck a dick
 
Stockhead... I like Brown Forman (Jack Daniels, Woodford Reserve, Fetter Vineyards, Southern Comfort, etc) for a long term IRA-ish type bet.

BF-B or BF/B depending on which way your screen displays it.
 
The 14 - 25 year old age group spend money on themselves indiscriminately. Also, most of their parents have long lost any willpower to say no.

Clothes, video games, entertainment, food. Recession? What recession?

jake--thanks on the BF'B
 
Blogrunner- do you use cheat codes? How old are you 29? Still shooting zombies in your living room?
 
New equity, I'm 25 bitch and no I don't use cheat codes. Still shooting zombies in my entertainment room though.
 
This comment has been removed by the author.
 
stop fucking using my name new(space)equity. Fuck you for using my patented user name.
 
shed - its ok.

DEO is markedly better than brown foreman. Not even in same league of bevering.

I don't play video games, but it doesn't mean they won't sell like crazy--it's called a cycle for a reason. Cycle is impacted by economy but also the nature of the video game industry.

Plus, as no one seems to care, employment is high= money. There is no way people are gonna jump to saving all of a sudden. Until employment falters, housing itself is a wall of worry concern. Housing has been in the dumps for...MORE THAN A YEAR SINCE THE INDICES MOVED 20+% TROUGH TO TROUGH.
 
newequity - you are the leader of the gays, and I blame you for all of the subprime issues.
 
Erin Burnett is a blithering idiot. Once the Fox Business Channel starts up, I will *never* watch that annoying coke-slut on CNBC ever again.
 
I just mastered Pong and am working on Pac Man.
 
Danny boy, the pipes the pipes are calling....

Did I tell you my youngest son is named Danny? He's not 2 but he copied my wife when she exclaimed "shit!" today.

Lovely, no?

_________________

I think Lawd Diego is great too, but fairly valued. I think BF-B is a bargain here... and possibly a medium term takeover play.

And there is no better brown licker than Woodford Reserve.

Outside of Kobe Bryant.
 
Digi-doo... but would you not be up for providing her eight balls until her heart seizes up?

______________

Caddy, what? You skipped over Space Invaders?
 
"""Digi-doo... but would you not be up for providing her eight balls until her heart seizes up?"""
----------------------------------------------------------------------
Only if I could first put something in her mouth so she couldn't talk. Uh, yeah...so I guess I can think of something to stick in there that will do nicely. (Still would prefer Becky Quick though)
 
Asteroids--- oh the "Happy Days"
 
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