Wirt writes:

>duane percox snipes:
>
>>> Bill writes:
>>>
>>>Just read that S & P has downgraded HP's rating on the
>>>possibility of this merger...

>> Another example of context sensitive quoting. The article
>> I read indicated that S&P would have downgraded them in any
>> case, not just because of the merger.

>Bill probably has it right. Any number of reporting agencies
>said pretty much the same thing that Bill did, in almost
>exactly the same manner. Here's what Reuters wrote:
>
>"NEW YORK, March 7 (Reuters) - Standard & Poor's on Thursday cut
>Hewlett-Packard Co.'s long-term debt ratings three notches
>because because of falling profits and risks associated with
>its proposed merger with lower-rated rival Compaq Computer Corp."
>
>CBS MarketWatch, ABC and the NY Times all wrote essentially
>the same as well.

No. Bill has it wrong.

Yes. Those reports were all the same as the SF Chronicle, which
also included this narrative in the same article:

In a statement, S&P also noted that even without the merger,
HP's credit rating would have been lowered because of its
"weaker profitability levels and diminished earnings."

I stand by my previous post. Evidently, there was more to report and
it was either not all reported or not all referenced. Since Bill didn't
state his source you will have to ask him.

BTW - Wirt ... I wasn't 'sniping'. I was trying to point out an
inaccurate report. You will know when I'm sniping :-)

Besides, its an honor to be equated to Wesley...

duane

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