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Non-Tech : LABOR READY (LWR) THE NEXT MANPOWER. -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (377)	9/17/1998 4:05:00 PM
From: Khris Vogel	Respond to of 455

Forgetting about the whispers of irregularities, Whispers originated by the shorts, you might want to add. it's just not that attractive a business. No barriers to competition, little or no economies of scale, Really? Hmm. You might want to ask many of the locally owned, mom-and-pop providers that have seen their businesses get hurt but bad or fail outright once LBOR has opened local offices about that. You'll get a slightly different answer. highly susceptible to recession, Gosh, you're right. No firm that provides outsourcing of skills or workers ever does well in economically uncertain times. I mean, why would employers not want to commit to huge permanent payrolls when a recession hits? What fools!! Have you been taking the same home-study coursed Joe has? Great minds clearly think alike, as we are quickly seeing. You must share w/ us the name of the course. (My early bet would be the ones that Sally Struthers advertises. Top notch. Clearly designed for the GED set.) no asset base Not that it matters, (to paraphrase the '92 Clinton campaign, THEY'RE IN THE SERVICE SECTOR, STUPID), but I guess that leaseholds and improvements, computer equipment and information systems (much of it proprietary - oops, I guess we're getting to the ol' barrier to competition issue. Damn!!), and other equipment don't qualify as assets in your mind, huh? I guess a rapidly growing, well-managed receivable base don't matter either, right? Small liability base, low debt, good current and other financial ratios, rapidly increasing rate of return on equity - all of these are worthless, as per your expert analysis, too. You've got me convinced. I guess I'll take out huge short positions on the software industry, too. I heard that they don't have an asset base, either. .... As far as the comment about other co.'s trading for less than cash on their books, I'll chalk that up as another in the long line of accounting and economic truths revealed as of late on this thread. Who would have guessed that so many here had so much financial knowledge? Certainly not me. (Here's a little hint - cash on the books means little if there is these pesky, offsetting things called liabilites, too. I know, details, details. Us accountants do tend to be a little anal when it comes to such.) I'm obviously in awe of the Captains Of Industry here. I think I'll just go sit in the corner w/ my head hung in shame. That or go back to reading my comic books. At least I'll be entertained by the poorly-thought out ideas there, because they at least have pictures!!