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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 72.10

+1.4%

3:59 PM EST

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To: The Phoenix who wrote (39388)	8/12/2000 5:13:08 AM
From: JDN	Read Replies (1) of 77397

Dear Gary: One thing I dont understand about that article is it refers to VENDOR financing. To me the VENDOR is the company selling goods and services TOO CSCO. Listening to the CC I believe Chambers was talking about expanding the leasing program to CUSTOMERS, not VENDORS!! Having audited Leasing companies years past I dont think people understand just how profitable that business can be. Certainly the earnings from investing cash in a well run (and CSCO usually is known to well run anything they do) leasing program would far exceed in my judgement many other cash investments. Add to that, by controlling the financing of their CUSTOMERS this is just ONE MORE LOCK on continuing their business relationship and ultimately upgrading their equipment. On top of all that, if the Leasing Program reachs size the income it can be expected to throw off will be predictable and stable. Something many techs would like to have in my judgement. The bottom line IMHO is this, why give up to banks and others a very profitable business if we can afford to do it ourselves. I might add this in my judgement would be considered operating earnings and add to the bottom line of that catagory. JDN

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