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To: DOUG H who wrote (10901)6/9/1999 8:03:00 PM
From: E. Davies  Respond to of 29970
 
I agree, it makes no sense unless the company has so much cash on hand that the increased interest earned by those deposits offset losses one would expect in sales revenue to the same company.

Makes even less sense than that, I think.

Not that I believe it anyway, but the theoretical "value" of a company is the present value of its future earnings. While the future "earnings" from owning cash may go up, the present value does not.
Eric


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