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Technology Stocks : Cisco Systems, Inc. (CSCO)

CSCO 76.11

+0.9%

Nov 21 9:30 AM EST

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To: Uncle Frank who wrote (63718)	4/22/2003 4:22:58 PM
From: Lizzie Tudor	Read Replies (4) of 77400

I am still missing how Cisco cooked up 21 billion in liquid assets after operating at a loss since day one. I still don't quite get that. Since the most recent employee badges have #40,000 on them, lets assume 40K employees or thereabouts over Cisco's lifetime. This is a gross, gross overestimation because contractors are also given badges, and in general are not eligible for options. These include the restaurant workers, fitness services... oh, all kinds of things. 21 billion / 40K "employees" = 525K per employee. Each employee paid in 525K in options exercise payments. Mystery solved :-/

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