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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Horgad who wrote (201530)11/1/2002 11:57:28 AM
From: reaper  Read Replies (1) of 436258
 
<<"The value of all three big automakers is less than the $75 billion it would take to buy all the outstanding stock of Dell Computer, operating in a saturated industry." >>

this could not be a dumber statement, but is what you would expect from the financial press that couldn't pass a remedial econ class at Roxbury Community College.

the "value" of the big 3 is well into the hundreds of billion of dollars; its just that this value is all tied up in DEBT and PENSION obligations and not equity. the combined equity value is <$75 billion, but that has nothing to do with the total value of the enterprises (which is of course precisely why i think that the EQUTY value of the Big 3 is going to go to +/- zero).

Cheers
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