EMC: Sales flat but wallets fat. Ready to vote on the merger? EMC saw totally flat revenues in its second quarter but profits rose 19 per cent. It could have been better as late orders couldn't be fulfilled. Revenues were a straight $6bn, unchanged from a year ago but up 9.6 per cent sequentially. They were $5.9bn two years ago so EMC is arguably standing still revenue-wise. Net income …
The EMC shareholder vote on the $67bn Dell acquisition of EMC
With profits at around $ 2.5 bn a year that's nearly 25 times the price, and the loans will have to be paid back from those profits. No wonder they're trying to peddle 30-year bonds (at 8 %) to finance this! I think I'd rather finance toll-roads!
Oh, the things you can achieve in a world where interest rates are zero!
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