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Politics : Ask Michael Burke

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To: Cynic 2005 who wrote (33854)	10/13/1998 6:18:00 PM
From: Knighty Tin	Read Replies (4) of 132070

MMV, A very odd report from Intel. Everything besides the final eps looks like a total disaster. Here are the troubling factors I see: 1. Operating income fell 5.8 pct. 2. Taxes were down 11.4 pct. Unless Intel and IBM are holding the IRS Commissioner's children hostage, I don't see how this is a sustainable trend. 3. The total shares outstanding increased from the same quarter last year. Uh, about this buyback scam? 4. Cash was up strongly, which shows they actually did have some real business this quarter and some real profit. 5. Long Term debt was up 24 pct., showing that #4 was not all profit. 6. Shareholders equity was up a whopping .3 pct. That's point 3. This was a profit they reported, wasn't it? -g- 7. Capital spending declined 33 pct. Gee, that sounds like a lot for a growing co. I guess investing in the future by developing garbage like the Celery chip doesn't even make sense for the empty suits at Intel. All in all, it looks like Intel had a horrible quarter and simply flim-flammed the tax man and reduced investment in the future, along with a blue smoke and mirrors share buyback, to fool the slow joes who think this is a turnaround. No offense to all the Joes out there. MB

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