Report rocks shares of finance firm

Article Abstract:

Resource America Inc.'s share prices dropped after Cambridge, MA-based investment researcher Off Wall Street Consulting Inc. raised questions on the firm's accounting. The investment report, which was sent to unidentified investment managers, questioned whether the Philadelphia finance company's accounting mirrors the actual economics of the business, and whether it adhered with Generally Accepted Accounting Principles. Resource America Chairman Edward Cohen denounced the negative report, saying that the report paid no mind to main details, presented no fresh data and was based on false assumptions.

Comment:

Raises questions on Resource America Inc accounting, causing latter's share prices to drop

Financial management, Massachusetts, Other Management Consulting Services, Crude Petroleum, Business & Mgmt Consulting NEC, Consulting services, Article, Resource America Inc., Off Wall Street Consulting Inc.

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Pa.: Deloitte hid truth on Reliance

Article Abstract:

Deloitte chief actuary Jan Lommele, in February 2002 signed an audit declaring that Philadelphia's Reliance Insurance Co. had enough cash reserves to stay in business, but very soon, it came to know that Reliance was suffering a $350 million shortfall in its reserves. Deloitte, United States second-largest accounting firm is accused by the Pennsylvania Insurance Department for the worst insurer failure in U.S. history by hiding its client's poor financial condition from regulators and public.

Legal issues & crime, Services information, Accounting, auditing, & bookkeeping, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, INSURANCE CARRIERS, Capital funds & cash flow, Company legal issue, Services, Insurance industry, Investigations, Accounting and auditing, Accounting firms, Accounting services, Reliance Insurance Co.

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ExxonMobil wants to boost production

Article Abstract:

The article discusses the value of ExxonMobil Corp. and why the company is suddenly worth more than Microsoft or Intel.

Market share, Crude petroleum and natural gas, Crude Petroleum & Natural Gas, Petroleum industry, Natural gas, Gas industry, Exxon Mobil Corp.

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