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Pfizer Inc. Message Board

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  • fizrwinnr11 fizrwinnr11 Jun 12, 2011 2:38 PM Flag

    My methods must pass rigorous tests

    Tyco was massively victimized by yellow journalism - especially a WSJ article on 2/4/02 about the company failing to report dozens of acquisitions over the previous three years.

    That was indeed true but what was also true was that Tyco had applied to the SEC and had been granted special dispensation to NOT have to publicly report what for them were tiny acquisitions below $50M.

    The reporter for the article never checked with the SEC and refused to take Koz's word on the matter. The stock plunged from $37 to $22 in just one session when it fact the company had done absolutely nothing wrong.

    Even worse, there credit rating were sliced by three levels and they were forced to dispose of their CIT Financial unit at fire sale prices because of their now lack of access to the commercial paper market.

35.11+0.29(+0.83%)Aug 29 4:00 PMEDT