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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (73566)	1/14/2000 5:50:00 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 132070

MB - Quote of the Day Isabel Paterson - "...Let it be asked how any person wholly devoid of talent, skill, accomplishment, wit, beauty, charm, or even the practical ability to earn a living by routine labor, can conceivably become an object of flattering attention, greeted with applause and given a hearing for the feeblest inanities - obviously nothing will serve except political position..." That, or one's own thread on Silicon Investor. -g- Regards, Don

To: Knighty Tin who wrote (73566)	1/14/2000 7:28:00 AM
From: Earlie	Read Replies (2) \| Respond to of 132070

MB: Amen. (g) Allow me to add a few more "how comes" to your observations. Most high tech companies that can manage it have been on an acquisition binge and for good reason. They know that the market worships growth. Internal growth is getting to be a tough game, so just go out there and buy up companies. The benefits are wondrous. They are purchased with puffed-up stock, the acquisition's revenues are added in, so the sheep see top line "growth", but above all else, if one writes off the liability side of the incoming acquisition's balance sheet (write off the R and D, the good will, the value of the inventories, etc.) then the booked profits emanating from the acquisition's sales are artificially inflated for a time (the costs that would normally reduce the bottom line are "pre" written off). Intel has done this in spades. Once we get the 10-Q, we will endeavour to back out both the additional revs contributed by the acquisitions, AND the inflated contributed profits, but even at this stage, it is easy to see that Intel's base line business, the manufacture of micros, is simply not providing the profits it once did. Another nice touch is Intel's decision to outline their "portfolio". That way, the sheep will know what Intel bought and will rush in to buy those stocks, looking for a coat-tail ride. Too bad they don't recognize that Intel has done this for exactly this reason, and will no doubt be busily selling into their buying. The numbers reveal the basic weakness. More later. Best, Earlie