Strictly: Drilling II Message Board

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Strategies & Market Trends : Strictly: Drilling II

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To: Cogito Ergo Sum who wrote (5015)	12/7/2001 7:56:56 AM
From: Frank Pembleton	Read Replies (3) of 36161

Kastel, I'm betting on a recovery in "old economy" stocks -- with the vaporisation of Bethlehem Steel, consolidation and production rollbacks we might get a nice bounce off the bottom. Stelco does pay a dividend, $0.12 per share - and yup, you are correct in your assumption of it "ain't looking up," unless ... you factor in the price of energy. The stock trades at 30% of book value and has a price to sales of .1 -- very bottom-ish n'est pas? Regards Frank P. Noteholder votes deal a blow to Algoma restructuring plan By GREG KEENAN From Friday's Globe and Mail Noteholders in Algoma Steel Inc. have filed enough votes to defeat the insolvent company's restructuring plan Friday, increasing the chances that Canada's third-largest steel maker will be liquidated and 3,900 jobs eliminated. globeandmail.com Steel Firms Shares Surge on Optimism By Vivian Chu and Tom Johnson NEW YORK (Reuters) - Optimism spread through the fragmented U.S. steel industry on Wednesday, as a potentially ground-breaking merger and new signs that the long-depressed industry is seeing relief from excess supplies boosted investors spirits. dailynews.yahoo.com Oil prices, stocks fall on U.S. forecast By DAVID PARKINSON and CAROLINE ALPHONSO From Friday's Globe and Mail Oil prices tumbled Thursday, dragging down Canadian energy stocks, after the U.S. government predicted that 2001 domestic oil demand will show its first decline in a decade while major oil-exporting countries continued to waffle on production cuts. globeandmail.com

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