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Computer Associates' Ex-Executive Testifies He Lied in Inquiry
The NYT(barf) ^
| 01.23.04
| ALEX BERENSON
Posted on 01/23/2004 3:28:40 PM PST by Beck_isright
Several senior executives of Computer Associates conspired to obstruct a continuing federal investigation into the company's accounting practices, a former senior vice president said yesterday in Federal District Court in Brooklyn.
In a subdued 30-minute hearing before Judge I. Leo Glasser, the executive, Lloyd Silverstein, admitted lying to prosecutors and lawyers from the Securities and Exchange Commission in September 2002 about whether the company had booked revenue from unsigned contracts.
Mr. Silverstein also said he had lied to lawyers at Wachtell, Lipton, Rosen & Katz, a firm that Computer Associates hired in 2002 to investigate its accounting practices and report the results to the government.
(Excerpt) Read more at nytimes.com ...
TOPICS: Business/Economy; Extended News; News/Current Events
KEYWORDS: bonds; boom; bubble; bust; computerassociates; crash; credit; currency; debt; deflation; depression; dollar; economy; fed; fraud; gold; inflation; investing; jobs; money; recession; silver; stockmarket
Another example of a great company that CNBSC hypes to waste your hard earned dollars in.
To: arete; Orangedog; AdamSelene235; Tauzero; imawit; Dukie; Matchett-PI; Moonman62; Free Vulcan; ...
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2
posted on
01/23/2004 3:29:57 PM PST
by
Beck_isright
("Those who stand for nothing fall for anything."-Alexander Hamilton)
To: Beck_isright
I was wondering why there were no new releases to EZTRIEVE.
3
posted on
01/23/2004 3:38:53 PM PST
by
duckman
To: duckman
"I was wondering why there were no new releases to EZTRIEVE."
They were too busy deleting company records to make new products...
4
posted on
01/23/2004 3:40:54 PM PST
by
Beck_isright
("Those who stand for nothing fall for anything."-Alexander Hamilton)
To: Beck_isright
We hated these guys at a former job. They were on-the-list as don't do business with. CA at the time was a law firm pretending to be a software Co.
5
posted on
01/23/2004 3:44:17 PM PST
by
Swanks
To: Swanks
And now CA is using every law firm available to save their hineys.
6
posted on
01/23/2004 3:47:05 PM PST
by
Beck_isright
("Those who stand for nothing fall for anything."-Alexander Hamilton)
To: duckman; Beck_isright
LOL
7
posted on
01/23/2004 4:42:30 PM PST
by
B4Ranch
( Dear Mr. President, Sir, Are you listening to the voters?)
To: Beck_isright
CA was "angel" funded by Long Island wiseguys. They went public waaaay early, on shakey numbers. Their business model was just this side of extortion. A truly creepy company.
8
posted on
01/23/2004 5:45:03 PM PST
by
eno_
(Freedom Lite - it's almost worth defending)
To: eno_
Agreed....
9
posted on
01/23/2004 5:45:48 PM PST
by
Beck_isright
("Those who stand for nothing fall for anything."-Alexander Hamilton)
To: duckman
I was wondering why there were no new releases to EZTRIEVE. Because for Computer Associates, acquiring companies that made Mainframe apps was never about improving the product, it was about milking the licensing fees out of the existing user base. The list of good mainframe products that CA bought and ran into the ground is lengthy.
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