Comments on: The birth of a new contra-indicator? http://www.footnoted.org/earnings-quality/the-birth-of-a-new-contra-indicator/ Michelle Leder's guide to what's hiding in SEC filings Tue, 06 Jan 2009 09:54:44 +0000 http://wordpress.org/?v=2.7 hourly 1 By: Scott http://www.footnoted.org/earnings-quality/the-birth-of-a-new-contra-indicator/comment-page-1/#comment-5487 Scott Sat, 17 May 2008 21:53:02 +0000 http://www.footnoted.org/?p=1883#comment-5487 I'll bet a few folks at Goldman Sachs would like a do-over on this one. Talk about bad timing... I’ll bet a few folks at Goldman Sachs would like a do-over on this one. Talk about bad timing…

]]> By: Adrian Nye http://www.footnoted.org/earnings-quality/the-birth-of-a-new-contra-indicator/comment-page-1/#comment-5463 Adrian Nye Thu, 15 May 2008 23:50:51 +0000 http://www.footnoted.org/?p=1883#comment-5463 If cutting 500 jobs saves 200 million, they are paying an average of 400k to those employees. I think this amount is for PR value (10 year total?), actual cuts more like 20 million a year if that. Nice trick the govt likes to use as well. Just another factoid from this company that doesn't add up. Like the statement that they were surprised when TERI went belly up. Remember that TERI went bankrupt due to underperformance of FMD securitized portfolios that were downgraded by Fitch several months prior to the bankruptcy. I think FMD deserves to be sued for negligence if they didn't know, or if they did know, they should still be sued for negligence for not finding an alternative quarantor. If cutting 500 jobs saves 200 million, they are paying an average of 400k to
those employees. I think this amount is for PR value (10 year total?), actual cuts more like 20
million a year if that. Nice trick the govt likes to use as well.

Just another factoid from this company that doesn’t add up. Like the statement that
they were surprised when TERI went belly up. Remember that TERI went bankrupt due
to underperformance of FMD securitized portfolios that were downgraded by Fitch several months prior to the bankruptcy. I think FMD deserves to be sued for negligence if they didn’t know, or if they did know, they should still be sued for negligence for not finding an alternative quarantor.

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