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Originally Posted by pointman
Freddy, you don't think that OTB's accountants message the numbers most favorable to OTB? Any businessman knows that just because expenses are written as off does not mean that the money is necessarily lost or unavailable for use. When Donald Trump was bancrupt, do you think he couldn't write checks to his employees, stay in first class hotel suites or ride around in limosines?
Why shouldn't people, including columnists, analyze the claims by OTB, isn't this done all the time? Don't we see columnists analyzing the proposed healthcare bill to find its hidden costs on a daily basis?
People have a right to question whether OTB is actually in a dire situation and if so, what the cause of it is. For example, OTB has been a place for politicians to stick their friends, relatives and supporters for years who were unqualified and paid unreasonable salaries, shouldn't such bad business practices be taken into consideration when they are asking others to take less to try to solve their problematic bottem line that they created themselves?
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I don't think accountants in this day in message numbers for PUBLIC entities. My best friend is an audit partner at Delotte and on there Board..There is zero chance he is signing a public company's audit that is BS. An audit starts Jan1 and ends Dec31 on a company like OTB with constant reporting. Now private companys are completely different story.
As for if people should question OTB and there business model and practices OF COURSE THEY SHOULD. I am not an OTB supporter but I really hope there is more to story then Matt Hegarty's opinions on accounting theory..