LLL: L-3 Communications Hldgs. Message Board

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Technology Stocks : LLL: L-3 Communications Hldgs.

LLL 245.17

-0.4%

Jun 28 5:00 PM EST

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To: Jeff Vayda who wrote (11)	4/27/2001 12:41:43 PM
From: Jeff Vayda	Read Replies (1) of 14

Just got finished with the CC. My initial impression is of a bunch of folks who are confident they can spot valuable companies and fix what ailes them. They have a good track record to date. Couple of points: They commented that they will stay away from vendor financing in commercial business. Specifically pointed out how the Bat people came to them and said they made a mistake and over ordered. LLL said "Too bad. You ordered it, you pay for it." They commented that Mot was taken aback, that other suppliers had not done that before. Bottom line, Mot is paying. They have won a contract for a wideband wireless system in Argentina. They pointed out that they made the decision some time ago, that they would not get into narrowband wireless - only broadband. They talked this up a bit, they like the prospects. At 48:30 into the call they are going over how it is easier to buy a big company rather than a small one. The idea being that a larger company has better tracking and process reporting. He specifically mentioned that he could buy a company beginning with an H, or an I, or ... an L." The audio drops out and then some laughter and background comments are made. I would have loved to be there in person! They have $1 billion available and are going to be buying more companies. Time will tell. They commented that future bottom line growth wont show until the fall. Looks like I might have some time to develop and position. Jeff Vayda

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