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Non-Tech : Just For Feet (FEET)
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To: Walter High who wrote (256)7/16/1997 10:36:00 PM
From: Mark T. Heath   of 750
 
I've already sold Sept. $22.50 calls.

I just got my proxy statement from FEET asking for authorization to increase debt limits as required by Alabama law for its domestic corporations. Since the company has more than ample funds via cash and short term muni's, I'm voting no. I can't justify it without the company being more specific as to why it needs the convertibles. I think it's a good guess that they want to buy someone. Obviously, it is not in their best interest to let the cat out of the bag. But it still doesn't have to mean I like it. If I clear the Sept. calls, I'm back to break even and maybe will move on if things continue as is.
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