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Non-Tech : ADM anyone?
ADM 58.62-0.4%Nov 14 9:30 AM EST
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To: Tapcon who wrote (54)4/9/2000 11:04:00 PM
From: Joan Osland Graffius  Read Replies (1) of 106
 
Hi Paul,

I would have to dig through my brokerage accounts to see if ADM sent me some extra money.<g>

I also only have a third position in IMC and we have had a nice bounce here, we will have to see if it holds.

Boy, I don't know when ADM is going to turn. They down graded the debt, but they are aggressive buying plants in South America. I bet they are buying these plants for pennies on the dollar. The stock sure looks washed out, but it could go lower.

ADM reminds me of my Ford buy some years ago. Nobody, but nobody wanted to buy the automobile stocks. Their debt was down graded, they were going out of business, etc. etc. Ford was buying plants for pennies on the dollar. The Japanese were going to own the world. Well that was a good bet, but I waited for a couple of years averaging down. I hope ADM works out the same way. <ggg>

I heard some more interesting news today. A malt milling company here in Minneapolis is going to start to make alcohol. They have over capacity in their milling operation and they are going to try something new. I wonder if their alcohol business is going to go the way of their milling business. <ggg> I wonder if they can compete with ADM. ADM made a ton of money last year with their alcohol business and they have a new contract with the Pennsylvania refiners. This year by regulation Pennsylvania refiners have to add alcohol to their gasoline mix.

Joan
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