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Politics : Ask Michael Burke
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To: Chuzzlewit who wrote (71069)11/28/1999 5:09:00 PM
From: Les H  Read Replies (3) of 132070
 
The other issue he could've injected is their 'improved' cash position is also due in large part to stretching payment to vendors and by speeding up collections (which is marginal). That may be about $ 400 M according to the same table I posted earlier. They may be at 60 or more days on their accounts payable now. Last I recall, it was about 56 or 57. I would expect there to be a limit to using this approach.

I found it odd that their cash exceeds their book value, about $ 1.85ish to 1.35ish. Is that caused by acquisitions, or is the number in error?
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