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Strategies & Market Trends : John Pitera's Market Laboratory
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To: John Pitera who started this subject2/18/2002 3:03:51 PM
From: Raymond Duray  Read Replies (1) of 33421
 
DOMINO THEORY

Hi John,

Here's a head's up on something across the pond:

arcchart.com

<Snip>
While not as dramatic as the rise and fall of the boys from Enron, the potential collapse of
the Kirch empire is sending out shockwaves matching the Richter scale reading in Houston.
Kirch, about 75 percent owned by Leo Kirch through his TaurusHolding vehicle, is straining
under a massive $5.7 billion debt burden. However with put options and other liabilities
included, this figure is nearer $11.5 billion. The German banks had put a total block on the
extension of any further cash facilities for the group, although channels have now been
sparingly reopened, and they are examining restructuring plans in a text book example of
the German brand of capitalism.<End snip>

.........................................................
I'm getting the distinct impression that things are rapidly spinning out of control. How does it look from your perspective?

Cordially, Ray
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