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Magical math from Amazon

announced today that its earnings for the 4th Q 2005 were down 43% from last year…which naturally made several jaws drop here at Fort Brooklyn – it’s Christmas season…WTF???

Then one reads, a little further into reports, that last year Amazon took a $239 million tax benefit during the last quarter. A one-off.

Stock dropped a little bit…but it’s the usual smoke-and-mirrors finances we have come to expect from a company that runs its accounting department like a game of 3-card monte. In other words…shrug.

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