“U.S. GAAP is founded upon principles, that’s what the P is supposed to stand for.” – SEC Chief Accountant James Kroeker arguing at a Pace University IFRS discussion that GAAP is just as principles-based as IFRS.
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In Other Words, “Our Numbers Are Good and My Old Boss Is a Pig.”
- Caleb Newquist
- August 7, 2010
“We thought it was important for people to appreciate that the announcement today has nothing to do with the operational performance of the company, it is all about Mark’s behavior and judgment.”
~ HP Chief Financial Officer Cathie Lesjak, who is now interim CEO after an abrupt resignation by Mark Hurd amid sexual harassment allegations.
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Steny Hoyer Might Be Calling a Lot of His Colleagues Liars
- Caleb Newquist
- June 23, 2010
“We’re lying to ourselves and our children if we say we can maintain our current levels of entitlement spending, defense spending, and taxation without bankrupting our country.”
~ House Majority Leader Steny Hoyer (D-MD) would prefer that everyone quit lying.
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“Who do I make the check out to?”
- Caleb Newquist
- July 23, 2010
“We are pleased to have resolved this matter. We are committed to maintaining clear and accurate reporting of our periodic results, supporting our customers, and executing our growth strategy.”
~ Michael Dell doesn’t seem too broken up about today’s little setback.