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To: Dave Gahm who wrote (42303)	1/16/1999 3:39:00 PM
From: Skeeter Bug	Respond to of 53903

dave, and mu had the nerve to tout inventory being DOWN! uuuuugh!!! ;-)

To: Dave Gahm who wrote (42303)	1/16/1999 5:46:00 PM
From: Thomas G. Busillo	Read Replies (2) \| Respond to of 53903

Dave, I'm not so sure they were selling everything they could produce. That's certainly what I thought and I think anyone reading analyst comments in the press or the reporting on CNBC would think so, but their finished goods inventory actually rose 30.65% sequentially. Here are the numbers from the 10-Q: Dec-98 Sep-98 finished goods 121.9 93.3 30.65% WIP 189.1 139.6 35.46% mats/sup 49.4 58.7 -15.84% totals 360.4 291.6 23.59% Of course that's in dollars, not MB. I would assume that the finished goods were available for shipment or they wouldn't be under finished goods, they'd be under WIP. I guess "production constraints" are whatever they say they are. What a brilliant term for not executing! It's not that we "failed to execute", it's that we experienced a "production constraint". It's like a student writing in a blue book "the person taking this exam is experiencing a temporary knowledge constraint. I fully expect this constraint will be alleviated sometime by the end of the semester..." ...and the professor give him full credit for the answer. If I ever teach and get that on an exam, I'll be sure to compliment the student for his creativity and flair for applied absurdity, but he or she will not get any credit for the answer. Good trading, Tom