(LVLT) - Level 3 Communications Message Board

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Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

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Nov 1 5:00 PM EST

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To: Diana R. Chambers who wrote (247)	3/10/1998 3:25:00 PM
From: M.J.D.	Read Replies (3) of 3873

Diana Just started following this thread today. Being an ex 20 plus year Kiewit employee (retired) its nice to be following a stock I at least have a little familiarity with finally. Regarding your question on why L3 jettisoned CalEnergy, I think it was strictly because Crowe wants to focus on telecommunications. My reason for saying this is because Walter Scott (Kiewit Chairman) bought up 2 million shares of CE in the public offering CalEnergy used to raise the money to buy L3 out. Incidentally, those shares and another 16 million were sold in the high $30 range just before CE got hit by the Asian crisis reaction. I doubled up my holdings in CE at $25 last week - Walter is usually never wrong :-) In Dogs analysis of BV a while back, I believe the numbers he was using were based on an acquisition cost basis for both CalEnergy and CTEC/RCNC. They look similar to numbers from previous Kiewit Diversified Quarterly Reports I have read. The cost numbers as you can imagine are quite a bit smaller than the current market value of Kiewit holdings in the CTEC companies now.

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