FMO...
FMO has an outstanding 48% shorts.
$29 book Val per share!!!
While company has a problems with asbestos-related lawsuits,
the buy actions implies that the Street has over-exaggerated the asbestos liability...Could we see a short cover very soon?...I am adding a start-up postion..
Asbestos Exposure
Some news below:
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Greg Zuckerman
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Companies are being hit with suits from employees - past and present - regarding exposure to asbestos. Litigation against certain companies is likely to take a long time in resolution.
Some insiders (including Warren Buffet), however, are buying these beaten stocks. Investing in these stocks is perhaps advisable as a mutual fund, to allow protection in diversification.
Companies to watch include: USG, GP, OI, FMO, and GRA.
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SOUTHFIELD, Mich., Dec. 20 /PRNewswire/ --
Federal-Mogul Corporation (NYSE: FMO) will host an analyst meeting in New York
on Wednesday, January 3, 2001 from 10:00 a.m. to 11:30 a.m. EST to discuss the
following items: the status of the Company's bank credit facilities; an
updated view of its asbestos situation; and the strategic global initiatives
under way for operating performance improvement.
(Logo: newscom.com )
The meeting will be web cast live on Federal-Mogul's site,
www.federal-mogul.com . Please sign on to this site fifteen minutes prior to
the scheduled start time. (In case of difficulty in signing on to this site,
fmftp.fmo.com has been established as a back-up
site for this presentation.)
In addition to the live web cast there will be a listen-only conference
call. In order to receive the conference call dial-in number, domestic
callers must RSVP to 800-289-0579 and international callers must RSVP to
719-457-2550. The confirmation code to RSVP is 430775. Please dial into the
conference call fifteen minutes prior to the scheduled start time.
A recording of this call will be available from 1:30 P.M. EST Wednesday,
January 3 through Tuesday, January 9, 2001. To access this recording dial
719-457-0820 (for both domestic and international callers), then enter 430775
as the confirmation code.
The web cast will be retained on Federal-Mogul's web site through
January 31, 2001.
Headquartered in Southfield, Michigan, Federal-Mogul is an automotive
parts manufacturer providing innovative systems and solutions to global
customers in the automotive, small engine, heavy duty, agricultural and
industrial markets. The company was founded in 1899. Visit the Company's web
site at www.federal-mogul.com for more information. Federal-Mogul's press
releases are available by fax through Company News On-Call, 800-758-5804,
ext. 306225. |
