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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 75.59

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3:59 PM EST

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To: Dave who wrote (52142)	4/25/2001 7:21:16 PM
From: Bill McEachern	of 77400

The Pixstream Acquisition used purchase accounting ... not pooling of interest accounting. This was a small enough morsel for Cisco that it did not bother with pooling I guess. See cisco.com The deal was announced in Aug, 2000 but did not close until Dec. So, they pissed away $369US million in equity in less than six months! Granted, Cisco is trading at 1/3 the value last Aug so they really only pissed away less. Of course, it will cost money to clean up the mess. 6 months pay for 300 people is probably $2-3M Can. Lots of these kinds of costs ... leases to break, contracts to get out of, etc. Bill

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