Tuesday August 17, 1999 8:00 pm Eastern Time

Company Press Release

SOURCE: Parish & Company
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17-August 1999: The Economist Breaks Parish & Co. Story on Microsoft.

The Economist is known to be Bill Gates' favorite publication on finance and economics, a publication he is even quoted to enjoy while on vacation.  It is startling that the article indicates a proper accounting would have reflected a net loss of $18 billion for the fiscal year ended 6/30/98 rather than the reported earnings of $4.5 billion.  Here is the link:

The Economist "Share and share unalike" article.

Although this article is another breakthrough in demonstrating my claim of significant financial fraud at Microsoft, it still does not address several key issues, making an excellent opportunity for a mainstream U.S. based media outlet to do the complete story.

Parish & Company does salute the efforts of The Economist, however, in helping cast light upon Microsoft’s financial practices and what I believe them to be, that is, the “pied piper of financial fraud.”  This fraud is based upon a brilliant pyramid scheme that is undermining the integrity of the capital markets, plundering the 401K and 403B retirement system and threatening the strength of the economy.

The Economist story is especially noteworthy given that Microsoft is one of their major advertisers.  Three cheers for quality independent jounalism!!  Perhaps this will embolden the SEC to bring an action against both Microsoft and its external auditor, Deloitte and Touche, for securities fraud if they don't qualify their upcoming audit opinion with full disclosure of these very important financial facts.

Below is a graph summarizing this financial pyramid scheme.

MS Chart

Right-click to download the Excel calculations.  If you download using Netscape and can't open the spreadsheet, send e-mail to bill@billparish.com requesting it as a file attachment.

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