Really Mr. Chambers?

Listening to Cisco's CEO John Chambers this morning on CNBC, one would think the global economy and technology sector was partying like it was 1999. But who should investors listen to? The head of a networking company or the fact that; IPOs are being pulled from the market, jobless claims continue to rise, sovereign debt issues plague the global economy and growth sensitive commodities, like copper, that are plunging.

Mr. Chambers not only sounded like a shill about his company but also made bold statements regarding his confidence about a dramatic global recovery. However, the truth behind CSCO may be found in the stock price, which is down over 6% from its January 14^th high of this year, down 2% since the beginning of 2010 and is the same price today as it was in 2001.

Nothing new here Chambers has always been a shill. I heard some folks on CNBC today saying how surprised they were the market was down, citing how upbeat Chambers sounded and he was normally pretty subdued. What John Chambers are they talking about? That guy has always worn rosy-colored glasses. If he really wants to support the economy, maybe he could start returning shareholders some money through dividends, instead of continually destroying economic value through ill-advised acquisitions that waste shareholders' money. Submitted by stryker (not verified) on Thu, 2010/02/04 - 5:59pm » reply |

CSCO Read the law on securities fraud. What Chambers did on national television was an outright violation of securities fraud.He needs to be in federal prison. Submitted by Steven (not verified) on Fri, 2010/02/05 - 7:26am » reply |