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Strategies & Market Trends : Galapagos Islands
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To: X Y Zebra who wrote (11692)11/6/2002 11:06:17 PM
From: mishedlo  Read Replies (2) of 57110
 
Chambers SPECIFICALLY said he would not resell that inventory, that it was worthless and would be destroyed. (not sure the precise quote but that is extremely close).

That was a blatant lie.
That was a lie to enhance future earnings.
That was a blatant lie to make futuure margins look good.

CSCO later had a "blowout quarter" selling written off inventory.

Now perhaps I am wrong about it being criminal, but Chambers is a sleazy scumbag and I wish all the worst in life to him.

If writing off inventory as worthless with the express intent to sell it later is not criminal THEN IT SHOULD BE.

M
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