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Your journalistic ramblings are so unfunny. Get a life.
may the force be with you
Whats wrong in reporting things as they are (or will be). Just because you are long cisco doesnt
mean you shamelessly defend everything it does!
The lawsuits only touch a small part of all the
accounting shenanigans that Cisco engaged in in the last 3-5 years. To a financially savvy and
technically capable observer it is obvious that this company's growth spurt was largely a myth
and the balance sheet shows much of that problem. Infact there was an article in Barrons a year or so back (at the height of hype) about a lot of them. These include stock options, acquisitions, financing etc. Look at an article by Bill Parish who has been critical of this company for a long while to get enlightened and to remove the rosy shades from your eyes!
I heard you have never worked in any industry even related to telecom/datacom. Is this true?
And why do you only contribute to these boards through aliases?
This is a free country. This is not china... this is not cuba.. this is the land of the free and the country of the brave...
Lightreading or anybody can question Cisco or any other buggy software/networking company regarding anything ranging from buggy software products to accounting practise. It aint fire..its normal thing...so just relax sir...
If a industry is build on honesty, ethics, quality and moral values..nobody can bring it down...
The real culprit here is the belief by upper management at Cisco that they were immune to any slowdown and that by upping the pressure on their sales teams, they could make up the ANY deficit. With their building boom and hiring binge, Cisco management did not manage their growth in a manner that was consistent with the fiscally conservative heritage that they started from during the John Morgridge tenor at Cisco.
This situation looks alot like the IBM of the late 70's and early 80's. Invicible and Arrogant.
But look what happened to IBM in the late 80's and early 90's.
IBM remade their entire company. Cisco's challenge will be to see if they can make the hard choices necessary for them to remake themselves to the lean mean company that they were during the growth days..
This article is the biggest piece of junk you will find any where. All the article does is paste stuff from the lawsuit and pass it off as if hell is breaking loose. PLEASE! Give me a break!
Any lawsuit ever filed against any company after their stock price is depressed reads exactly identical. If you have guts, why don't you paste material from the lawsuits against other companies?
Cisco's write offs, vendor financing deals, bad debts, defaults etc are all a small percentage when compared to the revenue and cash flow they generate.
Compare these same items as a percentage of revenues and cash flows for companies like Sycamore, Redback and other light reading darlings and you will notice that they are in bigger hole than light reading believes they are.
I will bet a lawsuit is coming against Sycamore, which is much deserved that the one against Cisco. I will wait and see if Maggie has the guts to write a similar scathing piece of junk against them.
Maggie, you don't even understand the accounting stuff and yet you write an article on it as though you are a leading expert. All you did is paste stuff from the lawsuit that these wall street lawyers filed. Guess what these lawyers' sole reason for existence is? To file lawsuits like this.
Get real folks.
I'm hoping LR will check their sources and report this. I can't wait to see the message boards light up with Cisco shareholders going through the roof!