Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 177.78

-2.2%

Jan 9 9:30 AM EST

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To: SGJ who wrote (96508)	3/31/2001 3:40:12 AM
From: Jacob Snyder	Read Replies (1) of 152472

re: Overreliance on vendor financing is the kiss of death Right. Lending money is the core competence of banks, not manufacturing companies. Imagine if, for the last 5 years, everytime LU was asked to provide vendor financing, they had said, "go to the banks, and see if they will lend you money for this. That's a bank's job, to assess credit risk and lend money, and we know we can't do as good a job as they can." If they had been saying that, LU stock probably wouldn't have hit 80 in 1999. But it also probably wouldn't have hit single digits this year, either. Vendor financing is like cocaine: it's addictive, and sooner or later you have an overdose.

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