There's a deluge of news about accounting: ADM, Chemours, Caterpillar, Autonomy, and Evergrande
Feels like I'm the little Dutch boy sticking a finger in a busted dike to stop the flood, but the news keeps on coming anyway.
I can't stand the rain Against my window Just keeps on haunting me Hey, rain Get off my window.
ADM and Chemours
Two companies are under extreme scrutiny by investors, regulators, and potentially law enforcement. They had to put C-level executives on leave over alleged manipulation of pro-forma, or non-GAAP alternative metrics that juiced executive compensation resulting in significant share price drops.
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