benevolent dictator

Fundamental S&P 500 Forward Price Projections

In 2002 the basis of earnings reports was changed to "operating earnings" rather than "total company earnings" so that the P/E ratio will be about twice of what it really is-thats unhealthy. Operating earnings omit several items, the main one being interest payments for debt service. From 2002 to 2008 debt of all publicly traded companies almost trippled. This according to the SEC.

Now there are two entities making claim to the same assets; share holders and bond holders and/or lenders. The latter has first claim and that makes share holders owning nothing as an aggregate. How can we trust these accounting methods when the prime directive of most corps is for the CEO's, who appear to be in collusion with BoD members (other corp CEO's), is to max their annual bonuses? Enron on a massive scale. CEO's collateralizing the corps assets (now liabilities) and showing this as profit. But not before the liabilities are set into a shell corp and stuctured as a lease. May be I am wrong-lets make sure.