Symantec Hit by $1 Billion IRS bill

[bonzodog]

http://slashdot.org/article.pl?sid=06/04/18/1532256&from=rss

Just speculation...but could this kill them????

[souteneur3190]

its 50/50 i think....i really dont know how much money they make but i konw most windows computer come with some of there anit virus products, but at the same time 1 billion is a lot of money, either way there will defintly be price drop in most products.

[OffHand]

That's a lot of money but their products suck so I don't care.

[NeghVar]

It all depends on how much they spend fighting it and if they win or not. Also this could effect the future of their stock, and it may not. If things turn sour in the next bit some major investors may pull the plug to cut their percieved losses, of courser they may not.

It will be interesting how it plays out, but whether or not it would kill them I don't really think so. They will just pay Bush a few thousand like all of the others and get off with a slap, its america, its corporate america, the math is simple. Float money to officials, get off with no penalties...

[briancurtin]

their products suck so I don't care.
^

[endersshadow]

I did a lot of research on their financials, as I was actually looking at making them my next investment. Their financials are really quite strong, so they'll be able to pull through it...but it won't be all sunshine, that's for sure.

I was always a bit suspicious of John Thompson....

[woedend]

nope, won't kill them unfortunately.

[Kernel Sanders]

Symantec wont have to write a cheque for $1Billion or anything. So there really is no problem. There are easy, manageable ways for Symantec to settle this.