May 17-23

<I>TSC</I> corrects its mistakes for the week.
Author:
Publish date:

A May 21 Herb Greenberg column,

General Instrument Insiders Sure Seem Anxious to Sell, incorrectly said that

WorldGate

(WGAT)

had not yet gone public. (

corrected May 21

)

A May 20 story,

What Will Stop This Raging Bull, erroneously said, citing

AMG Data Services

, that $3.1 billion was extracted from mutual funds for the week ended May 19. In fact, the fund flow figures for that time period had not been reported at the time of publication of the story. (

corrected May 20

)

The May 19 story

Now Forbes Wants In on Net IPO Rush attributed the possibility of an initial public offering of the online assets of

Forbes

to an internal memo. In fact, the memo did not specifically mention an IPO.

(corrected May 20)

.

A May 19 James Cramer column,

Entry Is Everything, incorrectly referred to Arminio Fraga as Brazil's finance minister. In fact, Fraga is president of Brazil's central bank. (

corrected May 20

)

A May 19 Bond Focus,

Big Buyers Lift the Long Bond, incorrectly gave the size of a

Fed

coupon pass as $804 billion. In fact, it was $804 million. (

corrected May 20

)

The May 19 Options Buzz,

Dell Trading Leads Options Plays, incorrectly reported that

Dell

(DELL) - Get Report

expects a major slowdown in information technology hardware spending this year as a result of year 2000 computer problems. In fact, it does not. (

corrected May 19

)

A May 17 column by Ben Holmes,

Reading the IPO Tea Leaves, incorrectly said that shares of

theglobe.com

(TGLO)

had "done well" since the company filed its secondary offering on April 13. In fact, the stock has fallen since the filing, causing Holmes to turn cautious on the deal. The column also said theglobe.com "will be remembered as one of the best-performing deals of all time." That phrase was referring only to theglobe.com's first-day performance. (

corrected May 19

)

The May 19 Global Briefing,

More Bad News in Japan, mistakenly reported the U.S. would report trade-balance data today. It will actually report those numbers tomorrow. (

corrected May 19

)

A May 18 story,

R&B Falcon's Cash Crunch Threatens Drilling Plans, incorrectly reported

R&B Falcon's

(FLC) - Get Report

long-term debt-to-capital ratio as 130%. In fact, it is 58%, according to

First Call

. (

corrected May 18

)

A May 18 story,

Looking Beyond the Quarter at Applied Materials, incorrectly reported that

Salomon Smith Barney

,

NationsBanc Montgomery Securities

,

First Security Van Kasper

and

Merrill Lynch

have performed underwriting services for

Applied Materials

(AMAT) - Get Report

. In fact, these firms have not acted as underwriters for the company. Also, the story incorrectly referred to First Security Van Kasper as Van Kaspar. (

corrected May 18

)

The May 13 story

In the Fifth Week, PairGain Rises Again incorrectly stated

PairGain's

(PAIR)

cash level. On March 31, PairGain had $124.2 million in cash and cash equivalents, not $124,000. (

corrected May 18

)

Entry No. 33 in the May 13 section of

TSC's

Countdown: A Century of U.S. Business, covering entries 40 through 21, incorrectly reported that the micro-organism on which the

Supreme Court

ruled in a landmark 1980 case was owned by

Exxon

(XON) - Get Report

.

General Electric

(GE) - Get Report

was the holder of the patent. (

corrected May 17

)

A chart in the May 17 Options Buzz,

Options Volatility Squirms Higher, incorrectly reported Friday's closing equity put/call ratio as 0.71. In fact, it was 0.47. (

corrected May 17

)