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Politics : Ask Michael Burke
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To: mike jolley who wrote (89183)2/3/2001 5:40:26 PM
From: Knighty Tin  Read Replies (2) of 132070
 
Mike, I think Vert is wise to break off the deal. Nothing sucks up cash like lending money to folks who may not be around in the near future. And, with all the risks, it is a highly competitive business.

Equipment leasing has always been a game that comes into vogue, skyrockets and then dies. I played a stock called National Equipment Rental in the late 1960s that was a huge homerun for me. It went out of business a year or two after I got out. Usually, the problem with these cos. is that they have funky accounting. National Equipment Rental was showing a profit every quarter until they finally showed a loss that killed them. They had not written off their capital investment depreciation conservatively enough.
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