[ale] [OT][Way OT] Industrial Power Question - Further OT - Oilcompanies

[Greg Freemyer]

I can only say, my friend specifically said the oil company profits of
2008 were heavily impacted by Mark-to-Market forcing them to reflect
major profits / losses associated with their drilling properties
caused by the changing price of oil.

He is the type of person that would understand what he was saying.  I don't.

And with that, I bow out of this issue.

On Fri, Feb 6, 2009 at 4:01 PM, Jeff Lightner <jlightner at water.com> wrote:
> Unfortunately you misread:
> Mark-to-market is an accounting methodology of assigning a value to a
> position held in a financial instrument.
>
> Property is not a "financial instrument" - it is a hard asset (real
> estate, equipment etc...).
>
> -----Original Message-----
> From: ale-bounces at ale.org [mailto:ale-bounces at ale.org] On Behalf Of Greg
> Freemyer
> Sent: Friday, February 06, 2009 3:51 PM
> To: ale at ale.org
> Subject: Re: [ale] [OT][Way OT] Industrial Power Question - Further OT -
> Oilcompanies
>
> On Fri, Feb 6, 2009 at 3:21 PM, Jeff Lightner <jlightner at water.com>
> wrote:
>> What crap!
>>
>> Book value of capital assets does not increase while they are held.
>
> Unfortunately you are wrong.  Ever heard of "Mark to Market".  Blamed
> by many for our financial meltdown.
>
> I can only tell you what wikipedia has to say, but per it, as of Nov.
> 2007 the rules changed.
>
> http://en.wikipedia.org/wiki/Mark_to_market#FAS_157
>
> I do know that a lot of talking heads were complaining about "mark to
> market" back in Sept / Oct because now assets MUST be valued at "fair
> market value" in a lot of cases and with real estate values dropping
> it was devastating banks.
>
> Isn't it great to know this one little regulation change may have
> triggered the entire collapse of our financial industry.
>
> Greg
> _______________________________________________
> Ale mailing list
> Ale at ale.org
> http://mail.ale.org/mailman/listinfo/ale
>
> Please consider our environment before printing this e-mail or attachments.
> ----------------------------------
> CONFIDENTIALITY NOTICE: This e-mail may contain privileged or confidential information and is for the sole use of the intended recipient(s). If you are not the intended recipient, any disclosure, copying, distribution, or use of the contents of this information is prohibited and may be unlawful. If you have received this electronic transmission in error, please reply immediately to the sender that you have received the message in error, and delete it. Thank you.
> ----------------------------------
>
> _______________________________________________
> Ale mailing list
> Ale at ale.org
> http://mail.ale.org/mailman/listinfo/ale
>



-- 
Greg Freemyer
Litigation Triage Solutions Specialist
http://www.linkedin.com/in/gregfreemyer
First 99 Days Litigation White Paper -
http://www.norcrossgroup.com/forms/whitepapers/99%20Days%20whitepaper.pdf

The Norcross Group
The Intersection of Evidence & Technology
http://www.norcrossgroup.com