Gateway (GTW) Message Board

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Technology Stocks : Gateway (GTW)

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To: Bill Jackson who wrote (7307)	8/18/1999 9:30:00 PM
From: IceShark	Read Replies (1) of 8002

Bill, the sales tax deal is a very old issue that GTW somehow screwed up on in a manner I have never been able to pin down despite talking to the company. I think they are embarrassed to admit how stupid they were. Anyway, GTW got sued by many of the States to collect sales tax back when the States were (again) going after out of state sales, primarily catalog mail order houses. Before the Supreme Court ruled against the States, GTW apparently reached agreements with the States to collect sales tax. I won't go into all the details. So GTW turned out to be bad poker players and were stuck with collecting sales tax, unlike DELL for example. Having slipped and fallen into that stinky cow pie, any new sales tax liability resulting from the decision to set up Country Stores in more or less all the States was no longer an issue - establishing nexus didn't matter since they were already SOL on that subject. Don't tell Drew about this because actual facts that may be negative only confuse and irritate him. And he can't figure out how one could make money shorting a stock that was 30 bucks 3 years ago and is now 90. Ho, ho ho. This Bull market has really saved a lot of morons from their room temperature IQs. -g-

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