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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: Lucretius who wrote (27590)3/24/1999 9:39:00 PM
From: Earlie  Read Replies (3) of 86076
 
L.T.

A few months ago, I wrote a piece on IBM's cruddy numbers, going back over the preceding 10 quarters. Aside from an ugly deterioration in the quality of the revenues, every single important number was "flat-to-down" for the entire period. Revenues, margins, op earnings, etc. Even worse, shareholder equity declined precipitously, courtesy of Louis' manic stock buy-backs financed through burgeoning debt. I pointed out that over the same period, the stock price rose more than 300%. Is this a mania or what? (g)

I do not know what it will take to lever this bloated egg from the wall, but I hope I'm both around and Put-exposed. (g)

Best, Earlie
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