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Technology Stocks : Comdisco, Inc. (NYSE: CDO)

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To: Glenn Petersen who wrote (673)	6/14/2001 4:19:09 PM
From: long-gone	of 689

Chicago Tribune \| Daily Herald Thursday June 14 07:56 AM EDT Comdisco quiet on Chapter 11 rumors By S.A. Mawhorr Daily Herald Business Writer Comdisco Inc. officials declined comment Wednesday on published reports that it is considering filing for protection from creditors under Chapter 11 bankruptcy. "We put out no announcement on that," said Comdisco spokeswoman Mary C. Moster. The Rosemont-based technology company said in April that it is reviewing its strategic business plan and officials still are working on that review, Moster said. "It's premature to speculate on the outcome or the timing (of any announcement)," she said. "We don't comment on rumors in the market." The Financial Times reported this week that Comdisco is considering Chapter 11 as part of a plan for GE Capital to take over Comdisco's $5 billion leasing portfolio. Comdisco's price closed at $1.37 Wednesday, up from a 52-week low of $1.09 but well off from the 12-month high of $33.50. In May, Comdisco posted at $54 million loss for its second quarter compared to net earnings of $43 million a year earlier. The company blamed the losses on the poor performance of its Comdisco Ventures investment division and continued write-offs for Network Services and Prism Communications. dailynews.yahoo.com

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