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Technology Stocks : Cisco Systems, Inc. (CSCO)
CSCO 76.28+0.1%Nov 25 3:59 PM EST
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To: MHA who wrote (51594)4/17/2001 1:47:53 AM
From: Doug Fowler  Read Replies (2) of 77400
 
They should be shot for the $2.5B inventory charge.

What in heaven's name do they plan on doing with this inventory? Are they going to burn it? Are they going to make necklaces out of it?

I absolutely do not understand this. Won't this inventory be eventually sold?

This is game playing. Instead of doing this the right way, Cisco wants to sweep it all under the carpet so that their future results look better.

$2.5B is between 6 and 9 months of profit - so essentially, Cisco is not going to make any money this year.

But, instead of saying this, they want to throw it all under a so-called one-time charge, so that they make it look like they did make money this year.

The SEC should stop allowing this kind of shady business practice. It is nothing but smoke and mirrors and only serves to confuse those trying to decide whether a company is worth investing in.

For Cisco to have the NERVE to say that they are going to show a profit this quarter, but then to say that they will post as much as a $4 billion charge - that is insanity of the purest form, and Mr. Chambers should be fired for this chicanery.

Thank goodness I shorted my 800 shares at $63 a share. This stock will have to fall below $10 a share before I will buy them back.
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