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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 71.68

-0.6%

3:57 PM EST

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To: The Phoenix who wrote (39412)	8/12/2000 5:55:10 PM
From: JDN	Read Replies (2) of 77397

Dear Gary: Well, in my experience at least the people who manage and staff the leasing department are totally seperated from the sales department. The will have a background in lending (leasing) and will have certain criteria from which they will evaluate the creditworthyness of the borrower (leassor). Now it may be that CSCO will set those criteria somewhat lower than a traditional bank, but if they do, you can rest assured their terms will be somwhat higher. All in all they are not going to make bad loans (leases) beyond a certain small percentage which would be budgeted. If they do, they will be fired and replaced. Thats the way it works, and to think that just because CSCO replaces the bank that CSCO will be a LENDER OF LAST RESORT is really not thinking through the situation. Remember, CSCO as a public company cares about their profits as much or more than anyone else. JDN

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