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

To: rkral who wrote (63715)	4/22/2003 3:58:31 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 77398

>> What am I missing? This. finance.yahoo.com An opportunity for riches, wasted by obsession with accounting issues. It'll probably happen next cycle, too. Value investors just don't understand growth stock opportunities. uf

To: rkral who wrote (63715)	4/22/2003 4:34:10 PM
From: RetiredNow	Respond to of 77398

Hi rkral, yeah, it seems that I am being inconsistent, but I'm not. Think again. Why did they los that $11.6B (if that's really the number)? They lost it because of too many options giveaways. So if they stop the giveaways, then that money would have been a benefit to shareholders instead, less the increase in salaries expense due to not giving options away. My contention is that the increase in salaries expense will be vastly smaller than that $11.6B. The reason I contend this is that very simply, I think employees have been overpaid in the past. That may have been necessary in the past when IT workers were hard to come by, but that's not the case today, when I can find a person with 20 years experience to replace any one of my engineering staff today. So again, I do believe that Cisco is a great company and a great cash flow machine. However, they are giving away almost all of the benefits of the company to employees instead of shareholders. When that balance is corrected, then it will be a good stock again.