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Strategies & Market Trends : Meditrust NYSE: MT

MT 39.17

+3.5%

Nov 7 9:30 AM EST

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To: M. Frank Greiffenstein who wrote (102)	10/29/1999 10:52:00 AM
From: Mark Huberman	Read Replies (1) of 233

MT bought the hotels and golf courses right after it achieved paired-share status by virtue of acquiring Santa Anita Race Track. At the time this gave them the advantage of being allowed to not only own, but also operate such businesses. Congress then changed the tax laws to sharply curtail these advantages. This action removed the incentive to remain in these business and also caused an immediate impact on MT's stock price. In the meantime MT had acquired considerable debt by buying these businesses at inflated prices that were no longer justifiable under the new IRS regulations. Mark

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