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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: hdl who wrote (175372)6/25/2002 11:37:24 PM
From: reaper  Read Replies (1) of 436258
 
i frankly don't see what all the fuss is over WCOM. it was obvious to anybody with half a brain that they were doing this, just as it was obvious with Global Crossing (doing reciprocal deals where one half gets booked as revenue and thus included in 'cash flow' while the other half is booked as 'capex' and by the miracles of modern wall street analysis is somehow not a cash outflow). people need to learn how to read cash flow statements.

next in the hopper are other businesses that produce lots of "cash flow from operations" but no actual CASH, led by AT&T and the rest of the cable companies, to be soon followed by any number of radio companies, to be followed by bullshit industrial companies like Tyco, Delphi, Visteon, and Coca Cola Enterprises, to be followed by pretend growth healthcare facilities companies, to be followed by....(oh man i'm getting tired....)

Cheers
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