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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: paulnewitt who wrote (4779)9/7/2000 9:58:05 PM
From: CF Rebel   of 5053
 
There was an interesting release on CMGI today:

<<<Analysts said the consolidation of its units was expected as the company shifts toward becoming more of an operating company than a holding company that largely realises its profits from gains on the sale of its investments.

``This is kind of a restructuring plan, in some ways refocusing on the operating company and cutting back on the venture activities, in some ways a reaction to the market realities.'' said Safa Rashtchy, an analyst with brokerage U.S. Bancorp Piper Jaffray.>>>

biz.yahoo.com

While CMGI is a pure internet investment company and so not 100% like ITE, I think that over time ITE could evolve in ways we might not expect. With Enviromation being ITE's operating business, I'd expect the growth of that wholly-owned nugget to be management's biggest priority. With profits that arise from the sale of venture-funded companies, I'd be most satisfied with future investments in which ITE owns a far larger, if not outright, percentage of funded companies. It may take awhile to get enough money in the till to enable that, but we're on our way. Another possibility is to see Enviromation grown to a size that would enable it's own IPO or sale and the purchase of a new, larger operating company. Lots of permutations possible here and lots of room for surprises.

CF Rebel
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