Circa Pict. & Prod. Co. Intnl Inc. (fka CPPD)

[ltesprit]

I think Enron officials were in hot water over undervaluing liabilities, not overvaluing assets. But your point is still valid.

Yes, I couldn't believe Schenk let Olsen blather about the library being worth up to two billion dollars. It begs the question: does our CFO have any finance training? Olsen and Schenk cited (as proof!) that revenues from the libraries are around $400K per year. A first-year finance undergrad knows that with simple DCF analysis you'll get a fair market value for such a library at around $4 to $6 million dollars. What the f---?

Is Schenk incompetent or high on drugs? Either way, he's a disaster and one more credibility 'liability' on our management team. He has to go.