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Strategies & Market Trends : Classic TA Workplace

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To: KyrosL who wrote (48905)	8/3/2002 5:04:35 PM
From: Joan Osland Graffius	Read Replies (1) of 209892

KyrosL, MIR's debt to equity 1.3x is close to Graham's requirement for an electrical utility of 1x in a regulated environment. The reason he felt these utilities could carry this much debt was they could pass the cost of carrying the debt on to the customer. These days I have found many electrical utilities with over 2x. These companies have piled a lot of debt on their balance sheets in the 1990's. Do you have any knowledge of how these law suits are going to go? Do you know if they are insured against these actions or are they self insured. One red flag is they are restructuring and one likes to see a company have continuous activities to make the company more efficient not all at once figure out their operations are inefficient. Do you have a feel for the integrity of the management? If these guys are clean - this is one heck of a deal. Joan

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