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Technology Stocks : Vitech America tackles Brazil
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To: robt justine who wrote (53)6/21/1997 5:22:00 PM
From: dave luken   of 153
 
To all, I like how barrrons takes a company and only shows one side of the story. It is obvious to me that the author Jaye Scholl has a vested interest in bashing vtch. What a crock, sure I agree that you can write about the problems that management has had in the past, but you would think that a publication like barrrons would at least give some space to the positives of the company and not write one sided opinionsand only give out parts of the truth to make the company look bad.

1. Barrons writes that the company only sets aside 2.3% of accounts receivables for bad debts. Vitechs states in its annual report that it has less than 1% default on their consumer loans.

2. Barrons writes that inflation six years ago was 1,000%. Six years ago, man thats a long time. The current projected rate for inflaion this year is 7-9%. You dont see that in the article anywhere do you!

3.Barrrons writes that Brazilian banks lend the company money at a range from 2.5- 3% a month or 30-36% per year. What they dont say is that the consumer credit rate in Brazil is 40-70% per year.

For all I know the management of vitech could be a bunch of crooks. But dont you think that a publication like barrons should post pros and cons and let the reader make his own judgement. Just another example of the little guy getting screwed while the people with the money making more of it.
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