But the board ignores a bigger flaw - unrealistically low economic projections.

Tournefort, never at a loss, had already climbed upon a low projection in the wall of one of the houses opposite.

And some companies that would be considered creditworthy with 15 percent sales growth are denied loans when the lower projection is used.

The eastern end usually has an apse of comparatively low projection.

Sebastian dropped heavily onto a low projection of rock that made a convenient seat.

Phil sat down on the low projection at the side of the flat car, eyeing the band wagon suspiciously.

The low projection of the survey was 1.8 percent and the high was 3.9 percent.

One probable pedal phalanx shows three low, irregular exostosis-like projections.

In the longer term, estimates are usually made to cover reasonable extremes of change by presenting three sets of projections - high, central and low.

But managements that go along by winking at low projections do so at their own peril.