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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.04

-1.3%

Jan 2 9:30 AM EST

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To: Stock Farmer who wrote (44718)	12/18/2000 10:33:36 AM
From: Monty Lenard	of 77400

John, remember when the companies were buying back shares over the last year or so? I believe IBM saved the day in 1997 with an announcement. Anyway, there is a most interesting article in todays WSJ concerning these company stock buy backs and who really benefits from them. Seems HWP paid 8.2 Billion for stock now worth 4.2 Billion. It never has any effect on the P&L either! Top management uses BORROWED money in "T's" case to support their stock price! Many others did the same thing and Warren Buffet addressed this in his annual report. Really a must read. Monty

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