Friday, July 27, 2007

GE finds improper revenue booking at rail unit

(Reuters) - "Revenues had been inappropriately accelerated so that they
were recognized in the fourth quarter of each of the of the
years 2000 through 2003 rather than in the first quarter of the
following year," the company said in an SEC filing.




Spokesman Russell Wilkerson said that "a few" employees had
been involved in the problem, but declined to provide a precise
figure. GE employs more than 300,000 people.


Read more at Reuters.com Market News

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