Originally posted by Redsland
That's quite a statement coming from you, tr. Glad to have you on the dark side. :evilgrin:
I agree with Jax on the point of tieing some more numbers down, but one thing that I don't like about the last numbers is that they were arrived at in conjunction with Bud's appearance before Congress, IIRC, so I'm not sure that makes those numbers reliable since everyone deflated their numbers for that purpose. Of course, the Forbes $ being in the same range makes that a shaky argument to make.
I am in a business that I deal with management and owners of companies, so it is common for the employees or general public to be easily convinced that management is making money hand over fist, when they are usually pouring in their own money just to keep things going. That is one reason that I am more apt to believe the FO when they claim to be struggling to break even. But from this CPA's point of view, you have done very good work and have good support for many of your figures. Thus, I am now more skeptical of the Reds FO poor mouthing claims. Rather, it could very well be that the comparisons they are making are with profit margins when they say money is tight. However, they represent that they are breaking even at best. For 2003, that does not appear to be the case. That ought to make them very pleased for 2004, as they will have a difficult time even breaking even the way things stand today.