Mirant Corporation (MIR) Message Board

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Gold/Mining/Energy : Mirant Corporation (MIR)

MIR 23.41

-1.2%

Dec 31 3:59 PM EST

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To: Braincramp who wrote (247)	2/22/2002 10:33:16 PM
From: Oeconomicus	Read Replies (1) of 903

But there are a few concerns. First thing is the price of assets. The bulk of MIR's planned asset sales have already occurred - it's those just now getting started thinking about asset sales that get hurt (if anyone). BV may have to be adjusted downward. You might think about an accounting class. These are tangible assets, not goodwill. You don't write them down just because the market is screwed up. what we think we are buying for 50 cents on the dollar may not be that cheap after all. It's the cash the assets generate that matters, not what some other company is desperate enough to dump similar assets for. Next is higher interest rates, what is Mirants debt financed at? Little, if any, of MIR's debt is floating rate and they don't need to issue new debt, so higher interest rates are not an issue. In fact, one might even argue that higher rates could be good for them.

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