The banks were enraged: They had already agreed to a yearlong extension when Rite Aid announced its first restatement and now would have to wait two more years to get paid, if ever (S&P had just downgraded the company's debt to CCC+ from BBB-).
Triggers for such clawbacks can now include "restatements," when a bank's earnings on a given deal end up lower than originally thought.
Tolle says that his book, The Power of Now, is "a restatement for our time of that one timeless spiritual teaching, the essence of all religions".
And Dellar's anguished restatement of the music industry's now largely abandoned zero-tolerance policy on downloads ("Much as it pains me to admit it, The Man was right…") would carry more conviction if it came from someone who had received slightly fewer free albums over the last aeon.
And she said that the $115 million pension-related charge Xerox planned to take this quarter would bring to an end, at least for now, the steady stream of restatements that have marred its performance for two years.
The biggest restatement of Enron profits concerns a related party that Enron now says should have been consolidated.
The impact of a restatement, even of this magnitude, Mr. Briggs added, is less now than it would have been a few years ago, when billion-dollar deals were made on the basis of Media Metrix ratings.
"We have found nothing material that requires a restatement of our financial statements or we'd be doing that right now," Mr. Heyer said yesterday in a conference call with analysts and investors.
The company, based in Brampton, Ontario, said Wednesday that it now hoped to deliver the figures, which will include restatements of results for 2001, 2002 and 2003, by mid-November.
In the final years of the boom, many companies now appear to have overstated their profits, based on the wave of recent restatements and on the inconsistencies between corporate and government statistics.
