Finova ( FNV) - How low will it go Message Board

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Non-Tech : Finova ( FNV) - How low will it go

FNV 187.82

+0.6%

9:30 AM EST

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To: jjrocket who wrote (6)	3/31/2000 8:40:00 PM
From: Jon Khymn	Read Replies (1) of 82

Atlanta, I just read a report from Salomon Smith Barney on FNV. On the report, they were not surprised by the early retirement of Sam but shocked by taking all 70 mil. charge directly to the bottom line. (70 mil. charge is due to a technology vendor in California. FNV has collaterals and I was wondered why would they charge off entire amount) And it dawned on me that Sam is retiring early NOT because of 70 million charge, but rather with Sam's retirement, the new CEO, Matt most likely requested that Sam retire with the troubled account. Of couse, it is common practice that when new CEO comes he/she want to get rid of all the troubled accounts receivables! So she will start with clean balance sheet! If this is the case, FNV will move back up much faster. Need to get some rest... Have a good weekend. Web.

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