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Thanks to those that did technical due diligence on this topic. How about the financial due diligence though?
As best I know, this ranks with the largest equipment purchases made by LMSC. While the cost of each unit is not a problem for expensing the equipment, that is sometimes an inappropriate way of dodging the issue of whether the equipment should be capitalized, and I am becoming increasingly uncomfortable with the total asset value of our equipment.
I should have done more investigation when I was Treasurer and the dollar values were growing, but I didn't. Is there an issue with IEEE because of the dollar value of this purchase or the total of our purchases? Bill, has this come up in your discussions with IEEE finance people.
Because of this uncertainty, by intention is to vote no unless I am sure we are comfortable with IEEE asset management requirements.
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