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[quote]QUOTE: Originally posted by MP57313 [quote]QUOTE: Originally posted by futuremodal I should not have compared Amtrak to Enron. At least Enron actually was a profitable company at one time before they imploded. Amtrak never has, and never will before its predictable implosion some time in the near future. So again, to all you Enron folk out there, I sincerely apologize for degrading your corporate name by comparing you to Amtrak, although it seems both entities employ(ed) the same accounting firm! [/quote] Enron's auditor was Andersen, which itself imploded after the Obstruction of Justice determination which essentially put them out of business. Amtrak's auditor was (and I think still is) KPMG. Recall in 2002 KPMG issued a "management letter" to Amtrak that cited Amtrak's precarious financial position. This prevented Amtrak from borrowing in the capital markets; Congress later worked out a stop-gap solution to keep Amtrak running. I don't think anyone seriously ever expected Amtrak to be profitable in the true financial sense, despite the occasional political [censored] that was spoken. [/quote] I recall some news items lately that KPMG has had their own credibility problems lately. Don't know if it's related to Amtrak or not......
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