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Paul Allen's cable firm files for Chapter 11
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| Charter Communications Inc, which is controlled by Microsoft cofounder Paul
| Allen, will file for Chapter 11 bankruptcy protection by 1 April after
| striking a deal with senior debt holders yesterday.
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http://www.theregister.co.uk/2009/02/13/charter_files_chapter_11/
Yesterday:
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| ...candid interview with an outspoken shareholder who likens Steve
| Ballmer and Bill Gates to fraudster Bernard Madoff.
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http://www.networkworld.com/community/node/38350
Related:
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| Many believe that the stock market crash of 1929 caused the Great Depression
| yet history clearly shows that it was instead simply bad government policy
| that was manipulated by leaders such as Insull. Today many now fear a similar
| stock market crash but in reality the economy is very strong and, if we can
| reform this pyramid at Microsoft, the overall market should not need to
| correct more than 20 percent.
|
| […]
|
| Microsoft’s perspective is best reflected by Bob Herbold, Chief Operating
| Officer, to whom the CFO reports. Bob very sincerely replied, “Bill, everyone
| is doing it.” My response was that Microsoft is a leader and that others are
| now seeking to emulate these fraudulent practices they have legitimized.
| Naturally Bob was not pleased by this perspective and that was our final
| conversation. A second informal response came when Microsoft asked PR
| Newswire to stop issuing my press releases.
|
| Microsoft is PR Newswire’s largest client.
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http://www.billparish.com/msftfraudfacts.html
Microsoft's Accounting Under Scrutiny
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| The company has still not made enough information public to provide analysts
| with detailed information on the profitability of its MSN Internet business,
| Mr. Galvin said, adding, ''There's still room for them to obfuscate.''
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http://query.nytimes.com/gst/fullpage.html?res=9A03E1DC173DF932A35754C0A96F958260
Microfraud?
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| THE ALLEGATIONS WERE shocking: For years, Microsoft has systematically
| distorted its profit figures in an effort to consistently beat Wall Street
| expectations and keep its stock price steadily rising. The false reports
| would violate SEC regulations, and amount to outright fraud.
|
| More shocking was the source of the allegations: Microsoft's chief of
| internal audits, Charlie Pancerzewski, who reported directly to the company's
| chief financial officer.
|
| Most shocking of all was what happened to Pancerzewski when he reported the
| suspicious bookkeeping to his supervisors, Microsoft CFO Mike Brown and chief
| operating officer Bob Herbold, in the spring of 1995. Soon afterward,
| Pancerzewski—who for nearly five years had received stellar performance
| evaluations—received his first-ever unsatisfactory one, and was eventually
| forced to resign.
|
| Two months ago, Microsoft quietly settled a lawsuit containing these
| allegations, filed in 1997 by Pancerzewski under the Whistleblowers
| Protection Act. The auditor claimed he was wrongfully terminated after
| telling his supervisors that Microsoft might be breaking securities and tax
| laws. The lawsuit made its tortuous way through several rounds of pretrial
| motions until last fall, when US District Judge Carolyn Dimmick denied
| Microsoft's final plea for summary judgment, finding credible evidence that
| Microsoft may have violated SEC rules, as Pancerzewski alleged. Shortly
| thereafter, Microsoft and Pancerzewski settled out of court. Terms of the
| agreement were sealed, but one source who claims familiarity with the case
| says that Microsoft paid Pancerzewski $4 million.
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http://web.archive.org/web/20070308032343rn_2/www.seattleweekly.com/1999-01-06/news/microfraud.php
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