The last part of the article is very interesting: it points out that since operational efficiency is measured by the tools of financial statement analysis (such as margins), management must understand how the firms activities affect the financial statements. Beyond managers, outside analysts also use the same tools for analyzing a company. For example, in 2000, analysts such as Ravi Surya of Lehman Brothers argued that Amazon lost money on every sale. According to book by Spector: “Suria stated that Amazon lost money on every sale, if you included costs for marketing, product development, warehousing, and fulfillment—in addition to the usual fees paid to wholesalers and distributors. Furthermore, Suria argued, all of those Amazon-built warehouses, which were chock-full of merchandise, had severely slowed down the pace of moving goods in and out. Therefore, in his opinion, Amazon.com had become essentially a traditional retailer (insult!)—and an inefficient one at that—and that the company was “woefully lacking from an operational aspect.” Amazon’s shares fell 20% on the day Suria’s report was released.