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CA's Ex-CEO Indicted on Fraud
An anonymous reader writes "CNN is carrying a story about how Sanjay Kumar, ex-CEO of Computer Associates, was indicted on fraud charges. Prosecutors said the long-running accounting fraud scheme featured what came to be known by Computer Associates employees as a "35-day month" because company books were routinely kept open until revenues exceeded projected goals. "The defendants cooked the books by simply keeping them open beyond the end of a fiscal quarter for however long it took to meet the analysts earning estimates," said Deputy Attorney General James Comey. Comey said by the time the "house of cards" collapsed, about $2.2 Billion in revenue was booked prematurely. Good thing CA settled it's case with the DOJ."
September 23, 2004
Dear Mr. Kumar,
I'm interested in new some accountants who will would be real "stand up guys" for the company and hear you're looking for work. Please call me at 801-932-5800.
Darl McBride
de-Uglied version of this story: here
Trolling is a art,
Where's my movie deal?
What could you do with a 35-day month? That's at least four extra days off each month... every other weekend could be a long one. That's quite nice. Or you could work the extra days I suppose.
still, what do you expect from accountants? The only industry where the word "creative" is a bad thing.
I am a leaf on the wind
Wow, I've been looking for a way to stretch my paycheck, and this looks like a great way to do it. I'll just tell the credit card companies and my mortgage company that I'm now operating on a 35-day month.
Thanks, CA!
Just then the floating disembodied head of Colonel Sanders started yelling Everything You Know Is Wrong!-Weird Al
I'm in Canada. If I were to walk into a bank with a note that said "I have a gun" the teller would tell me to "fuck off" then proceed to throw rolls of pennies at my head.
Trolling is a art,
Canada... gotta love the customer service:)
Judge: Mr. Kumar, you have just been indicted for defrauding shareholders out of millions of dollars. What do you have to say about this? Kumar: Um...sorry your honor. I can't remember anything about that--I was high.
They probably shoot software and music pirates too (which would include 90% of the slashdolt crowd).
Once again the leftist government interferes with the freemarket, certianly resulting in deleterious effects for mankind as a whole.
If the company wants to file their revenue that way, they have a right to. If consumers don't like the way they file their numbers they can do business with someone who files numbers in a way they want. When Computer Associates finds that no one is deadling with them because of their method of book-keeping, they'll want to change their ways so that they can compete and make money. This is how the freemarket works. The government doesn't need to interfere. This is the same as forcing companies to pay minimum wage: forcing them to file minimum numbers. It's anti-competetive; and, I don't want to frighten people, but it's borderlining on communism even.
Twinkie maker bankrupt!!!
There are 4 boxes to use in the defense of liberty: soap, ballot, jury, ammo. Use in that order. Starting now.
Whatever happened to washing them, electing them, and making them do jury duty first?
Quid festinatio swallonis est aetherfuga inonusti?
Africus aut Europaeus?
I say we submit the guy to the Unicenter Administration Interface.
... all of sudden nobody cares about that one amendment that has to do with cruel and unusual punishment. You don't even know which amendment I'm talking about do you?
Sure, sure
"Hi, I broke the law!"
"To Unicenter you go!"
"This is bullshit, that one guy got the chair, this isn't fair!"
Your new here aren't you?
I heard that if you bring a bottle of beer with a mouse in to back to the brewery in canada they give you a free keg.
Minimum security prisons are no picnic. I hear the trick is to kick someone's ass on your first day, or become someone's bitch. Still better than a federal pound-me-in-the-ass prison, though.
That's because the bank tellers in Canada deal with Loonies.