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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 234.74

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12:59 PM EST

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To: Victor Lazlo who wrote (142629)	5/30/2002 1:22:04 AM
From: H James Morris	Read Replies (1) of 164684

At dinner tonight I heard a rumor that Warren Buffet might make a move on Safeco insurance (SAFC). >>Safeco is drawing attention as its turnaround picks up speed. The latest nod came from David Wallack, a portfolio manager for mutual-fund group T. Rowe Price. Wallack highlighted Safeco on "Wall Street Week" on Friday — the old "Wall Street Week" on PBS, not Louis Rukeyser's new show on CNBC. Wallack said he had trimmed some positions in insurance stocks lately but is still adding to Safeco. The company endured difficulties in the 1990s, he said, but since then management has "righted the ship." At the recent annual meeting, Mike McGavick, Safeco chief executive officer, said the restructuring plan is ahead of schedule. The stock has not responded so far, trading at about $31.50 a share, down from a high just shy of $36 a share in mid-April.

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