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Accounts KNOWS better, that's why he ducked out.
Look, anyway you cut it Red Hat claimed a profit when in fact it was a loss, the accountant knew it and knew what it would do. He and the CEO cashed out big time ($35 million worth!!!) And just before it was to come to light, the accountant resigned "to follow other opportunities".

Gee, not to hard to see what was going on here at all. Perhaps if the TOP TWO execs (the accountant that changed it and the CEO that approved it) hadn't put $35 million in thier pocket I and other investors would be willing to hear "accounting error/practice" as an excuse. But as is, these two made $35 MILLION while the ivestors took it in the backside...
Posted by: No_Ax_to_Grind   Posted on: 07/16/04 You are currently: a Guest | Members login | Terms of Use
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Stupid, stupid, stupid  Linux User 147560 | 07/15/04
Only Partially Right  vxpress | 07/15/04
so what  V Sanders | 07/19/04
How's your VAT doing these days???  No_Ax_to_Grind | 07/16/04
Red Hat didn't deceive anyone...  realitycheck101 | 07/15/04
Protecting investors  jdunn_z | 07/16/04
NO ONE cooked the books for them.  No_Ax_to_Grind | 07/16/04
By the way, the ones that will gain from this...  No_Ax_to_Grind | 07/16/04
There it is!  rapson | 07/16/04
Your ignorance is showing.  No_Ax_to_Grind | 07/16/04
Two years later?  IT_User | 07/16/04
Redhat deceives? highly likely!  pa2004 | 07/15/04
They don't pay for the software  johnnyu | 07/16/04
We pay for the service  voska | 07/16/04
Is American Degrading?  serpentmage | 07/16/04
Vote for Kerry and Edwards!  johnnyu | 07/16/04
This will never happen...  Monkey_MCSE | 07/16/04
Cooked books will roast management.  No_Ax_to_Grind | 07/16/04
I can only hope...  Michael Kelly | 07/16/04
We agree...  No_Ax_to_Grind | 07/16/04
We?  Anton Philidor | 07/16/04
We = Michael + No Ax.  No_Ax_to_Grind | 07/16/04
Insider knowledge?  IT_User | 07/16/04
As always, FOLLOW THE MONEY...  No_Ax_to_Grind | 07/16/04
Anybody can say Enron  IT_User | 07/16/04
True, but the money trail leads too..  No_Ax_to_Grind | 07/16/04
Most of you are idiots (you know who you are)  bsuch | 07/16/04
Nice try, but investors know better.  No_Ax_to_Grind | 07/16/04
Investors know better, speculators don't  IT_User | 07/16/04
Accounts KNOWS better, that's why he ducked out.  No_Ax_to_Grind | 07/16/04
Like I said  bsuch | 07/16/04
One simple question. Who made $35 MILLION?  No_Ax_to_Grind | 07/16/04
And your point is what?  bsuch | 07/16/04
My points are:  No_Ax_to_Grind | 07/16/04
Where is the "excuse"?  IT_User | 07/16/04
Ax is an expert  johnnyu | 07/16/04
Expert enough to take a profit and sell before the bottom fell out.  No_Ax_to_Grind | 07/16/04
Sure  johnnyu | 07/16/04
RE: Sure...  No_Ax_to_Grind | 07/16/04
Tell yo what, lets see what happens with the suits.  No_Ax_to_Grind | 07/16/04
If it gets to a judge  IT_User | 07/16/04
Let's make ourselves rich, here's how we'll do it.  No_Ax_to_Grind | 07/16/04
Won't work  Michael Kelly | 07/16/04
And take two years to bail out?  IT_User | 07/16/04
You tell them  bsuch | 07/16/04
enron and wcon  V Sanders | 07/19/04
The oh so virtuous "free software" crowd turns out to be less than virtuous  marksashton | 07/16/04
None, actually  IT_User | 07/16/04
ah duh  V Sanders | 07/19/04
Red Hat restatement triggers legal attacks  Loverock Davidson | 07/16/04
Innovation in accounting ...  George Mitchell | 07/16/04

What do you think?

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