Dressing down Alcoa's financial reports
Analysts and regulators should take a hint from the market and look past Alcoa's dressed-up quarterly profits.
Global aluminum giant Alcoa is known for releasing its financial report well ahead of other companies, and hence to great fanfare. But the company has another, more recent, tradition that hasn’t received any special attention. Since being hit hard by the global economic slowdown in 2008, it has issued two financial reports almost every quarter: one prepared according to generally accepted accounting...
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