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Gold/Mining/Energy : Mirant Corporation (MIR)
MIR 23.83+1.8%3:59 PM EST
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To: Oeconomicus who wrote (257)2/24/2002 12:45:21 PM
From: Braincramp  Read Replies (1) of 903
 
Why would you think book value of fixed assets meant a thing

Thats how I invest, if this Co wasn't trading at a discount to book, I wouldn't even give it a second look. I guess I am one of those old fashioned investors that likes to feel that he is getting something for his investment dollar.

Why would you think MIR would need to sell assets at a loss?

Maybe they paid to much for them in the first place. Unforeseen circumstances, there are all kinds of reasons. Why did they have to sell Bewag in the first place? Why did they have to raise cash at fifteen when they could have at thirty? Or could it be that they where to focused on growth and now have a bunch of power plants that are at various stages of completion. Looks to me like a company that didn't keep their eye on the ball.

Why would you think that the "market value" (liquidation value, presumably) of MIR's fixed assets could in any way enable banks to force MIR into a corner?

And you don't think that Mirant isn't in a corner already. Lets hope their assets are as good as we think they are. The share price didn't go to 7.50 because Mirant is the leader in the sector. You should take off your rose colored glasses and look at the real world.
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