[News] [Rival] Microsoft to Lose $Billions Due to Crisis - Linux

This is a discussion on [News] [Rival] Microsoft to Lose $Billions Due to Crisis - Linux ; -----BEGIN PGP SIGNED MESSAGE----- Hash: SHA1 Microsoft, Cisco to lose $4.3 Billion as investment banks cut cost ,----[ Quote ] | The cut in the IT budgets of the revered investment banks like Lehman | Brothers and Merrill Lynch due ...

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Thread: [News] [Rival] Microsoft to Lose $Billions Due to Crisis

  1. [News] [Rival] Microsoft to Lose $Billions Due to Crisis

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    Microsoft, Cisco to lose $4.3 Billion as investment banks cut cost

    ,----[ Quote ]
    | The cut in the IT budgets of the revered investment banks like Lehman
    | Brothers and Merrill Lynch due to their failure may lead industry giants like
    | U.S. based Microsoft and California based Cisco to lose $4.3 billion in
    | orders next year. While Cisco earns about three percent to four percent of
    | annual revenue from the U.S. financial industry, Microsoft accounted for 22
    | percent last year.
    `----

    http://www.siliconindia.com/shownews/47182

    Microsoft will be hurt by financial crisis, RBC analyst says

    ,----[ Quote ]
    | The devastating U.S. financial crisis will hurt software giant Microsoft
    | Corp.'s bottom line this holiday season as shoppers tighten their purse
    | strings, RBC Capital Markets says.
    `----

    http://network.nationalpost.com/np/b...lyst-says.aspx

    "There is such an overvaluation of technology stocks that it is absurd. I would
    include our stock in that category. It is bad for the long-term worth of the
    economy."
    --Steve Ballmer, Microsoft's CEO


    Recent:

    Ballmer says Microsoft not immune from global crisis

    http://news.yahoo.com/s/nm/20080930/...CBr9O.m4K573QA


    Microsoft loses 90 Billion Dollars

    http://slated.org/microsoft_loses_90_billion_dollars


    Microsoft's Market Cap Falls $24B in 17 Days

    ,----[ Quote ]
    | Microsoft is on the list. Today, the stock closed at $25.01 a share, down
    | $2.39, or 8.72 percent.
    `----

    http://www.microsoft-watch.com/conte...129TX1K0000535


    Ex-Microsoft boss sentenced

    http://seattlepi.nwsource.com/busine...ftcourt19.html


    Former Microsoft Manager Gets 2 Years In Jail

    http://news.portalit.net/fullnews_fo...jail_1427.html


    SEC Foresees Rise in Fraud Cases

    ,----[ Quote ]
    | Laying out his priorities, the new enforcement chief for the Securities and
    | Exchange Commission in San Francisco said Thursday he expects an upswing in
    | fraud cases against public companies.
    `----

    http://www.law.com/jsp/article.jsp?id=1202424479239


    Related:

    Microsoft's Accounting Under Scrutiny

    ,----[ Quote ]
    | The company has still not made enough information public to provide analysts
    | with detailed information on the profitability of its MSN Internet business,
    | Mr. Galvin said, adding, ''There's still room for them to obfuscate.''
    `----

    http://query.nytimes.com/gst/fullpag...54C0A96F958260


    Microsoft - Undeserving of Libertarian Praise

    ,----[ Quote ]
    | One strategy that Microsoft has employed in the past is paying for the
    | silence of people and companies. Charles Pancerzewski, formerly Microsoft's
    | chief auditor, became aware of Microsoft's practice of carrying earnings from
    | one accounting period into another, known as "managing earnings". This
    | practice smoothes reported revenue streams, increases share value, and
    | misleads employees and shareholders. In addition to being unethical, it's
    | also illegal under U.S. Securities Law and violates Generally Accepted
    | Accounting Practices (Fink). Mr. Pancerzewski claims he was forced to retire,
    | for raising the issue of deferred earnings with Microsoft executives, thereby
    | making plausible deniability more difficult for said executives. He has since
    | sued Microsoft, who responded by settling out of court, but also sealing the
    | records to prevent public disclosure (Fink).
    `----

    http://www.kuro5hin.org/story/2002/8/20/11034/3908


    Microsoft Agrees To Refrain From Accounting Violations in SEC Settlement

    ,----[ Quote ]
    | Microsoft has agreed to refrain from accounting violations to settle federal
    | regulators' allegations that it misrepresented its financial performance, the
    | government announced Monday.
    |
    | Under a settlement with the Securities and Exchange Commission, the software
    | giant neither admitted to nor denied wrongdoing. No fine was imposed.
    |
    | The SEC alleged that Microsoft's accounting practices from July 1994 through
    | June 1998 caused its income to be substantially misstated.
    `----

    http://www.crn.com/it-channel/18819490


    "Microsoft Tax," MSN Enters the Black Hole, New Names for NT

    ,----[ Quote ]
    | The lawsuit, filed last year by Mukilteo City Councilman Charles
    | Pancerzewski, alleges that he was forced to resign as Microsoft's general
    | auditor in January 1996 after working for the company's internal auditing
    | department for more than four years. The suit claims that a "significantly
    | younger man" with little auditing experience was picked to replace
    | Pancerzewski, who was finally forced out because he discovered Microsoft
    | might have been violating government regulations. Once Pancerzewski left the
    | company he was replaced by the younger man, who his attorneys believe
    | was "less prone to raise issues of possible legal improprieties which could
    | threaten or embarrass Microsoft or its management.
    `----

    http://www.msboycott.com/news/98_06_22.shtml


    SEC Investigating Microsoft Practices -- Earnings Manipulated, Former Employee
    Contends

    ,----[ Â*Quote]
    | "The CFO to whom Charlie was reporting his concerns about illegality was the
    | biggest advocate for the very illegality that was going on," Vial argued in
    | court a year ago.
    `----

    http://community.seattletimes.nwsour...1&slug=2969514


    Microfraud?

    ,----[ Quote ]
    | THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
    | distorted its profit figures in an effort to consistently beat Wall Street
    | expectations and keep its stock price steadily rising. The false reports
    | would violate SEC regulations, and amount to outright fraud.
    |
    | More shocking was the source of the allegations: Microsoft's chief of
    | internal audits, Charlie Pancerzewski, who reported directly to the company's
    | chief financial officer.
    |
    | Most shocking of all was what happened to Pancerzewski when he reported the
    | suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
    | operating officer Bob Herbold, in the spring of 1995. Soon afterward,
    | Pancerzewski—who for nearly five years had received stellar performance
    | evaluations—received his first-ever unsatisfactory one, and was eventually
    | forced to resign.
    |
    | Two months ago, Microsoft quietly settled a lawsuit containing these
    | allegations, filed in 1997 by Pancerzewski under the Whistleblowers
    | Protection Act. The auditor claimed he was wrongfully terminated after
    | telling his supervisors that Microsoft might be breaking securities and tax
    | laws. The lawsuit made its tortuous way through several rounds of pretrial
    | motions until last fall, when US District Judge Carolyn Dimmick denied
    | Microsoft's final plea for summary judgment, finding credible evidence that
    | Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
    | thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
    | agreement were sealed, but one source who claims familiarity with the case
    | says that Microsoft paid Pancerzewski $4 million.
    `----

    http://web.archive.org/web/200703080...microfraud.php


    Microsoft exec dumped stock prior to Red Ring announcement

    ,----[ Quote ]
    | To make matters more murky, the sales were not registered with the Securities
    | and Exchange Commission within the mandatory two days of the transaction, a
    | result of an alleged "administrative error." Microsoft has since remedied the
    | issue by following the "procedures required of late-filers."
    `----

    http://arstechnica.com/journals/thum...ing-addresment


    Microsoft's Bach sold more stock before Xbox news

    ,----[ Quote ]
    | Microsoft Corp. executive Robbie Bach sold $3 million more in company stock
    | during the period leading up to an announcement about a costly flaw in its
    | Xbox video game console than previously reported, according to a filing
    | Monday with the Securities and Exchange Commission.
    `----

    http://www.marketwatch.com/news/stor...D&siteid=yhoof


    Insider Trading Hasn't Affect Microsoft Stock - Yet

    ,----[ Quote ]
    | MarketWatch.com reports that Robbie Bach, president of Microsoft's
    | Entertainment and Devices division, sold $6.2 million of Microsoft
    | stock just prior to announcing that Microsoft was going to have to
    | extend XBox 360 warranties to three years because of extensive
    | failures. The filings note that this was not part of any
    | scheduled diversification or selling program; this was a
    | conscious, unscheduled sale by the guy in charge of releasing
    | news that could affect the value of Microsoft stock.
    |
    | [...]
    |
    | Insider trading is a very serious violation of the law; just
    | ask Martha Stewart, who served five months in prison for
    | avoiding losses of $43,000 through trades that just had suspicious
    | timing (no insider trading was actually proven). This is $6.3
    | million that went straight into Robbie Bach's pocket.
    `----

    http://biz.yahoo.com/seekingalpha/07...7_id.html?.v=1
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  2. Re: [News] [Rival] Microsoft to Lose $Billions Due to Crisis

    Roy Schestowitz wrote:

    > -----BEGIN PGP SIGNED MESSAGE-----
    > Hash: SHA1
    >
    > Microsoft, Cisco to lose $4.3 Billion as investment banks cut cost
    >
    > ,----[ Quote ]
    > | The cut in the IT budgets of the revered investment banks like Lehman
    > | Brothers and Merrill Lynch due to their failure may lead industry giants
    > | like U.S. based Microsoft and California based Cisco to lose $4.3
    > | billion in orders next year. While Cisco earns about three percent to
    > | four percent of annual revenue from the U.S. financial industry,
    > | Microsoft accounted for 22 percent last year.
    > `----
    >
    > http://www.siliconindia.com/shownews/47182



    Thats shocking. Micoshaft overcharging its finance sector customers
    to keep itself alive. Thats probably what caused the black hole
    in all their budgets. I guess all the other smaller banks switching
    to Linux forced the big banks to look like lemons.
    Unable to compete and too late to switch, they are taken down like
    all micoshaft lemons.



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