Friday, December 9, 2011
SAIC 10Q CityTime Show Me The Money x 3 RICO
http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDExOTMxMjUtMTEtMzM1Mjg5L3htbA%3d%3d
I demand a billion x 3, http://www.youtube.com/watch?v=AfnGDuHUQNk&feature=youtube_gdata_player
SAIC new filing this morning...FYI Tri Care law suit cited -- Heard on the street -- SAIC 232K Loss provision is SHORT! Where's the 600 million plus RICO. Last eve's 10Q updates us on the continuing sad story....MOST of the232 million is for general and administrative expenses. So that money sounds like its for the lawyers, not the CITY of YORK. More sickening kickbacks to coverup. And the recently fired execs to date NOT involved.
------------posting from phone -- on Suzannah blog won't recognize paragraphs ------ http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDExOTMxMjUtMTEtMzM1Mjg5L3htbA%3d%3d
The Company believes that a loss related to the outcome of the CityTime investigations is probable. Based on developments relating to the CityTime investigations, the Company now estimates that its loss will be at least $232 million and has recorded a loss provision of that amount as of October 31, 2011, consisting of a $52 million reduction in revenue and a $180 million charge to selling, general and administrative expenses. An additional loss is reasonably possible, but an estimate of the maximum amount of such loss currently cannot be estimated given that no legal proceedings have been filed against the Company and the investigations are ongoing and involve complex matters with third parties outside the control of the Company. Accordingly, the outcome of these investigations may result in additional damages and penalties, and criminal fines, restitution and other remedies, including suspension or debarment from government contracting, any of which could have a material adverse effect on the Company’s consolidated financial position, results of operations and cash flows.
I demand a billion x 3, http://www.youtube.com/watch?v=AfnGDuHUQNk&feature=youtube_gdata_player
SAIC new filing this morning...FYI Tri Care law suit cited -- Heard on the street -- SAIC 232K Loss provision is SHORT! Where's the 600 million plus RICO. Last eve's 10Q updates us on the continuing sad story....MOST of the232 million is for general and administrative expenses. So that money sounds like its for the lawyers, not the CITY of YORK. More sickening kickbacks to coverup. And the recently fired execs to date NOT involved.
------------posting from phone -- on Suzannah blog won't recognize paragraphs ------ http://investors.saic.com/phoenix.zhtml?c=193857&p=irol-SECText&TEXT=aHR0cDovL2lyLmludC53ZXN0bGF3YnVzaW5lc3MuY29tL2RvY3VtZW50L3YxLzAwMDExOTMxMjUtMTEtMzM1Mjg5L3htbA%3d%3d
The Company believes that a loss related to the outcome of the CityTime investigations is probable. Based on developments relating to the CityTime investigations, the Company now estimates that its loss will be at least $232 million and has recorded a loss provision of that amount as of October 31, 2011, consisting of a $52 million reduction in revenue and a $180 million charge to selling, general and administrative expenses. An additional loss is reasonably possible, but an estimate of the maximum amount of such loss currently cannot be estimated given that no legal proceedings have been filed against the Company and the investigations are ongoing and involve complex matters with third parties outside the control of the Company. Accordingly, the outcome of these investigations may result in additional damages and penalties, and criminal fines, restitution and other remedies, including suspension or debarment from government contracting, any of which could have a material adverse effect on the Company’s consolidated financial position, results of operations and cash flows.