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Unformatted text preview: hind] GAAP. GAAP accounting rules are the ones that we all live by and they are
very strict. We had both KPMG and [Ernst & Young] yesterday restate that they ok with our numbers. We have
taken the unusual step of getting an attestation to our pro forma numbers. I don’t think there’s really any confusion
at all with respect to the numbers. And we also, by the way, further details on our call this morning and there’s
information on our Web site as to why our maintenance numbers are in the range, but at the low end of the range, of
software companies. And it’s a perfectly plausible answer. We don’t need to have maintenance numbers like
anybody else, but we are not doing anything wrong fundamentally in our business.
Griffeth: I’m running out of time, unfortunately, but for the record, have you been contacted by anybody connected
at all with the SEC about any possible investigation, whether it has, in fact, begun or whether they are in formal
inquires about your accounting practices?
Kumar: No, sir. […] I, my general counsel and CFO have no knowledge whatsoever of any SEC investigation.
Griffeth: Any thoughts of taking action on this on your part? Financial Manipulation: Words Don’t Lie, CGRP-07 p. 5 Exhibit 1 (continued)
Interview with Sanjay Kumar, CEO of Computer Associates (April 2001)
Kumar: Well, I think we have to do what’s right for the company. Today we want to clarify our business model,
defend what’s right for the company and defend our shareholders. I am most concerned about shareholder value and
I think ultimately the truth will prevail. […]
Griffeth: Mr. Kumar, thank you for taking the time to chat with us.
Kumar: Thank you. Source: “Computer Associates: CEO Interview,” CNBC/Dow Jones Business Video, Apr. 30, 2001. Financial Manipulation: Words Don’t Lie, CGRP-07 Exhibit 2
Erin Callan, CFO of Lehman Brother – Selected Comment (March 2008)
Erin Callan, CFO:
“we did see very strong client flows and a robust trading environment”
“our strong core client activity”
“our corporate derivative revenues were very strong”
“very, very strong high grade underwriting activity”
“we continue to have a strong underwriting position with financial institutions”
“we had strong client revenues”
“incredibly strong client activity”
“a very strong performance out of the underlying franchise”
“results in fixed income continue to be very strong in Asia”
“we expect customer activity to stay strong”
“we do have a very strong disciplined program of how we would take assets down on the balance sheet”
“incredibly productive group of people for the firm.”
“an incredibly good statement about the strength and confidence of our franchise”
“an area which we have done incredibly well in and feel well positioned going forward”
“it’s just incredibly attractive”
“our ability to access that form of financing to do more business with clients is incredibly interesting”
“incredibly well received, great participation, great oversubscription”
“we continue to do a very, very good job managing the risk on residential mortgages, an area that I think we’re
credited with a lot of expertise, a great fra...
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This document was uploaded on 02/02/2014.
- Spring '14