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View Diary: Jack Welch, Dick Nixon and the Great BLS Jobs Conspiracy (100 comments)

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  •  Well, Jack would know about adusting the numbers, (0+ / 0-)

    as he was a master of "earnings management", and considered himself so wicked smaht.  Even back in the simpler times of 1994:

    ..But another way is "earnings management," the orchestrated timing of gains and losses to smooth out bumps and, especially, avoid a decline. Among big companies, GE is "certainly a relatively aggressive practitioner of earnings management," says Martin Sankey, a CS First Boston Inc. analyst.

    To smooth out fluctuations, GE frequently offsets one-time gains from big asset sales with restructuring charges; that keeps earnings from rising so high that they can’t be topped the following year. GE also times sales of some equity stakes and even acquisitions to produce profit gains when needed.

    "..The political class cannot solve the problems it created. " - Jay Rosen

    by New Rule on Sun Oct 07, 2012 at 07:17:09 AM PDT

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