Thursday, December 06, 2012

At the beginning of this earnings quarter, I was eavesdropping on a quarterly conference call where the CEO said the following.

"When you don't have any future you give all your money away."

At the time I remember becoming a little wide eyed and saying "that's crazy. I wonder what the hell that means".

Well... now we know what that means. They all saw the writing on the wall and have been adjusting since then.

2 comments:

dashing said...

That is crazy and pretty dramatic for a long term thought, but then I have no idea what kind of business you are talking about. I'm hoping that is a very niche business. Or maybe it is a solar manufacturer that is supposed to go bankrupt now ;).

she said: said...

I can't go into really any more detail. Anyone at or on that call will recognize these words. I dont' want to walk into the danger zone. I can only say it is not a distressed company. And I can only assume (now) that it is related to all the dividend payments. Oracle for example just came out and said they would pay out 3 dividend payments before the end of the year. I've never heard of that before.

Maybe they feel like doing that is on step shy of lighting their money on fire in the driveway. I mean, if I was super rich - that is what I would be inclined to do before I'd give it to the gment. But then I feel super bitter right now.