Word: culpae
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...Which all led in part to December's $679 million "revenue recognition" mea culpa, in which Lucent essentially had to face the music for on-credit purchases that fell through. It was the latest in the string of earnings embarrassments for the company (though not the last - in January, Lucent reported that first-quarter sales were down 28 percent and announced a $1.6 billion restructuring charge...
...During that testimony, Greenspan also called "critical" the question of whether a slowdown would "breach the fabric of consumer confidence," and he doesn't need much more evidence than this that it has. He's already made his mea culpa for last May's half-point hike with the surprise half-point cut the first week in January; now it's time to make sure a precipitous slowdown - and an accordingly precipitous drop in mood on Wall Street and Main Street alike - takes on a "V" shape in a hurry...
...culpa: In a recent column, I wrote effusively about a portable gadget called the C-Guard that jams cellular-phone calls. Weirdly, the Israeli company that sells the thing didn't mention to me that blocking cell-phone calls--no matter how loud and obnoxious the caller--is illegal in the U.S. In fact, the Federal Communications Commission can impose an $11,000 fine on offenders. Buyer beware...
...CULPA...
...that the plea agreement he reached with the government to end his nine-month incarceration is off; rather, FBI director Louis Freeh is set to detail his agency's case against Lee before the Senate Tuesday - the same day as the New York times published a nuanced mea culpa for the instances in which its coverage of the story "fell short of our standards." In an effort supposedly to justify the government's incarceration of the fired Los Alamos nuclear scientist - questioned even by President Clinton following Lee's release - Freeh reportedly plans to allege that Lee met a suspected...