In the video below, without an ounce of embarrassment, Cisco CEO John Chambers dumped several metric tons of snow on CNN Money anchor Poppy Harlow:
Details on the snow dumped by Chambers:
At the 1:00 minute time mark, Chambers specifically states that he's buying companies in Canada.
Fact:Wikipedia reports Cisco bought only 1 Canadian company (Skystone Systems), and that acquisition was made almost 15-years ago on June 9, 1997.
At the 1:20 time mark Poppy asks for a specific jobs number that Cisco would create in the United States if it received a tax repatriation on Cisco's overseas cash.
Fact: Throughout the entire length of the video, Chambers repeatedly deflects Poppy's multiple requests for the specific jobs number Cisco would create in the U.S. if given a tax repatriation holiday.
At the 3:25 time mark with exuberant flair and without an ounce of embarrassment over his scandalous hypocrisy, Chambers specifically states that it's easier to do business in both Russia and China than it is to do business in the United States.
Cisco's Capital Structure
As shown in the above internal Cisco slide presentation, it aggressively moved all of its cash overseas as a consequence for receiving a 2004 tax repatriation holiday.
And as of FY11, Cisco's net realizeable cash is actually lower than it was 10-years ago in FY02.
Furthermore, Cisco now has $16 billion in debt that it did not have in FY02.
