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Technology Stocks : All About Sun Microsystems

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To: Charles Tutt who wrote (51815)	9/24/2002 12:04:55 AM
From: Mark Marcellus	Read Replies (2) of 64865

Huh? It's dangerous to infer anything from retained earnings vs. value of common stock in the shareholder's equity section. These are balancing items, which can be affected by many things. I'd suggest another item which is more straightforward. CFO for '00, '01, and '02 was 11.4B, 13.4B and 14.5B respectively. Maybe the 50,000 employees are being overcompensated with options, but it's ridiculous to suggest that the overcompensation is a major factor in getting to those cash flow numbers. They are simply too big for that. BTW, here's another suspect balance sheet you might want to check out: sec.thomsonfn.com Hmmm, value of common stock is greater than retained earnings, yet they have never paid a dividend and don't really do options. I guess they haven't been very profitable, unless Warren is taking those retained earnings and putting them under his mattress.

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