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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: NOW who wrote (97298)4/23/2001 1:58:05 PM
From: patron_anejo_por_favor  Read Replies (2) of 436258
 
Amazing, isn't it...24x earnings for 2% growth. As predicted, they blamed the strong dollar (for their own stupid mistakes):

biz.yahoo.com

``Our people delivered solid results under extremely difficult U.S. economic conditions, continued strengthening of the U.S. dollar and sharply higher energy costs,'' said W. James McNerney, Jr., chairman of the board and CEO. Currency effects reduced earnings for the quarter by 7 cents per share and higher U.S. energy costs reduced earnings by 4 cents per share. Aggressive global cost control combined with good international volume gains largely offset these negative pressures

I think they're a sweet short right now.

Disclosure: no position (yet) on MMM
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