Forum Archive Index - January 2002

["Peter" <pmaiden@today.com.au>]

Ben - it might eventually happen but I feel that there will always be 
a lot of this sort of carry on.

The biggest problem in NZ in understanding balance sheets is actually 
getting hold of them easily. They are not included in announcements 
to the NZSE as they are in Australia. Maybe that is why more and more 
investors are now investing in Australia.

Snoopy mentioned Air NZ. Does everybody recall them reminding us time 
and time again in their troubled times last year that they had $1 
billion in the bank - what was overlooked that on the other side of 
the balance sheet was a corresponding amount under 'Transportation 
Sales in Advance'. The money in the bank was pre-paid fares - hardly 
the cash to use to keep Air NZ afloat. Nothing wrong with the 
accounting but injudicious use of certain figures.

And tomorrow will be a momentous day in USA. Amazon.com is going to 
announce a 'profit'. Read this story and ask yourself whether things 
are going to change. 

"It's not the type of profit Wall Street recognizes but Amazon.com on 
Tuesday expects to report a profit nonetheless, its first in eight 
years of existence."
http://money.cnn.com/2002/01/21/technology/amazon/

Cheers

Peter


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