When disclosure of goodwill, options accounting and off-balance sheet activity is less than transparent, investors start voting with their feet
This summer, as investors toss and turn at night, their worst dreams will be about complex balance sheets with large amounts of goodwill and numerous special purpose entities. Indeed, the witch hunt for the next Enron was already in full flight when investors began to express concern about Tyco International, the Bermuda-registered conglomerate whose interests range from electronics to medical supplies, from fire and security systems to undersea cabling, factoring and loans. Perturbed by the
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