PAYX Interesting

Paychex, Inc. (PAYX) presents very interesting economics. It's durable competitive advantage appears to be its ability to execute in taking over payroll work of small businesses. With ever increasing Marxist enslavement of small businessmen and women to do more and more complex tasks for government, I see excellent growth opportunities for PAYX for many years ahead. The only things that could stand in the way of outstanding growth is bad management coming in or a change in government at the federal level stopping the federal income tax, perhaps a Ron Paul of Mike Huckabee. Complexity in government is the key to PAYX's future success!

In a study of the stock, I found "Value Line" expressing a current ratio of about 4, while Standard and Poor's (my broker's source of information) expresses a current ratio of 1.11. Minimums for a current assets are generally $2 for every $1 in current liabilities. There are some exceptions (Advo), but I'm not ready to trust them yet. See "The New Buffettology" for more on this topic.

I called PAYX yesterday, and they indicated on the phone that "Value Line" carried a similar difference from another online presentation of Yahoo, Inc. Their internal email from their CFO, I understand, is being mailed to me hard copy with the investor kit I requested from PAYX.

My stock broker is sending my concerns up the line to his boss to find out why there are two different current ratio presentations.

Gene