SME(svcdq) has it bottomed out yet? Or will it hit bottom? Message Board

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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?

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To: Arthur Tang who wrote (275)	3/12/2000 11:48:00 AM
From: Arthur Tang	Read Replies (1) of 305

Hopefully, the stockholders can raise some interest for the trustees' office to watch the management more closely to prevent the plan of the excessive spending and unrealistic plan of negative EBITDA until April, 2001 to happen. The amount of deficit is too much, to be consider a workable plan. Apparently, the recent rumour of SMC hiring a real estate firm to work out their leases, indicates their doubt of GAP and OLD NAVY stores might not be ready to sign a sublease from SMC. Without GAP and OLD NAVY, SMC can not fulfill the deficit plan they outlined in the SEC 8k filing regarding Fleet Retail's agreement. On the other hand, the real estate firm may be just a front to hide Fleet Retail's pull. Fleet Retail already had a commitment to make a decision to come up with $600 million to squander away, just to gain the ownership of SMC without the current stockholders. Any sane man can not believe such gamble when SMC can not even perform, last year. When the economy was in such a good shape.

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