your story got posted to the tyco board where i read it and immediately "imagined" your presence on that board. (:>D).btw, what was that defaualt slip?? was it that "giant" one? (my apologies if that's not the one. it's the only one i remember at the moment)here are the replies i made to you on the tyc board:http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7084393&tid=tyc&sid=7084393&mid=129353http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7084393&tid=tyc&sid=7084393&mid=129368>>But when earnings are off, strong cash flow alone does not impress me.<<as i've said so often: P&L and Cash Flow Statements are to be used together, not separately.>>Unfortunately, the article doesn't give the explanation, just a reference. This is the NYTimes, not the Journal of Accountancy. I guess we will have to look elsewhere for the mechanics.<<my msgs above, give "some" of the mechanics.
I believe that the type of contract that you are referring to is an IRU - Indifeasable Right to Use and the accounting on both sides of these contracts is a mistery to me.
ok, my apologies for the default remark.i just realized which one was yours. there was another one earlier that i had you confused with. (he hasn't been around lately)