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Just another little example of how twisted the thinking became (and still is) among parts of the business community. Quote from the April 1, 2002 BusinessWeek Online.

But as the cycle aged, rising real wages began to squeeze companies of profits. It's no accident that in the boom years, 1998 through 2000, as unemployment fell to 3.9% and wage growth accelerated, companies increasingly resorted to accounting tricks to maintain earnings and stock prices.

No accident? So if you are a CFO facing some wage pressure, in the boom years, you resort to accounting gimmicks to satisfy those baddies on Wall St. and the smart and not-so-smart money that flowed in during the 1990's? What other excuses could Businesss Week dream up given the opportunity?

Ethics schmethics.

Mike
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