I suppose that when you are stripping a company in front of the whole world by making public disclosure, it may or may not be legal, but nonetheless, entirely dispicable. That is what appears to be happening at Broadcom. Please pull up the current report on earnings with financial statements right here at earnings whispers, otherwise, go to http://finance.yahoo.com/,type in “BRCM”, then go to Profile/Financial Statements. That is where the income statements and balance sheets will be posted (although, the document on earningswhispers is far more revealing). In one of my last comments, I showed you how it would take BRCM about 10 years of 7% growth in order to obtain today’s stock valuation. Based on last quarter’s performance, it will actually take longer....much, much longer. Sales have gone down since considerably, and it has nothing to do with 9-11. There are a number “kisses of death” in these financial statements, but let me list a few. (1.) How do you grow a company (at all, much less 7% per year) when you cut “selling, general & administrative costs by over $100,000,000 since only last quarter ($41MIL vs. $142MIL)? What did they do, fire everyone? Don’t you need people and marketing to make a company grow? (2.) Another way to make your financial statement look better is to not pay your bills...do you see where their current liabilities grew by $56 MIL, from $355 MIL to $411 MIL, thereby understating their actual loss by $56 MIL, just for this one item. (3.) Cash and easily sellable assets are down considerably. If you want to estimate how long a company can continue, add up all of their easily sellable assets and subtract their current liabilities. Do not include property and equipment (they probably lease most of their facilities and equipment sells for 10 cents on the dollar under liquidation) and goodwill (goodwill isn’t, in any case, as good as it sounds). In this case total current and “other assets”, exclusive of defferred taxes, currently $837,655,000 and subtract from that the current liabilities of $411,882,000, now puts us down to $425,000,000 of assets that BRCM use to “pay the bills” and stay in business. Dec., 2000 was a little over $1,000,000,000 and Sept., 2001, a little over $500,000,000. Do you see the picture here? They have gone through about $600,000,000 in assets in 5 quarters. Part 2 is a humdinger.