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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Stock Farmer who wrote (54374)	8/8/2001 4:22:11 AM
From: marginnayan	Respond to of 77400

So before you crow about the cash flow, it's what they do with it that counts. And right now, they are managing to see whatever cash flow they generate just evaporate Where is the cash flow generated getting evaporated to? Is it due to customer incentive (financing), silent stock buy back, interest payment or something else? If possible, please explain. For past 3 years, quite a big chuck of cash flow was coming due to options exercise. This may never return since Chambers has decided against re-pricing options. Cisco has almost doubled or even tripled it's work force in last 2 years and option exercise price of these employees certainly is higher than $ 20 even after stock splits.

To: Stock Farmer who wrote (54374)	8/8/2001 8:02:14 AM
From: HH	Read Replies (1) \| Respond to of 77400

Traditional definition of CashFlow is Net Income plus non-cash charges. As you stated, working capital can change a number of ways unrelated to operations. Maybe I can get everybody who owns stock in Cisco to shave off a milli-cent and give it to me to re-imburse me for my failed option play during these "so-called" upbeat earnings announcements. they'll never notice one-thousandth of a cent. Everybody is a winner. What you think? -g- HH