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Technology Stocks : Hewlett-Packard (HPQ)

HPQ 26.34

-2.5%

12:31 PM EST

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To: Kirk © who wrote (2180)	11/14/2002 12:00:03 AM
From: Oeconomicus	Read Replies (2) of 4345

OT: Hey, Kirk, it looks like your WCOM buy at 7 cents was a good move. The market sure seems to think Capellas can do some good for the shareholders. Here's an article from today on the job he faces: biz.yahoo.com It's still a long-shot, but their financial results for September also show some signs that the patient may be saved. For the month, they had something over $400 million of EBITDA and very little CAPEX. Seems to me that this kind of cash flow (almost $5 billion annualized), would support an enterprise value north of $40 billion, which I'm pretty sure exceeds their debt, and could service a substantial portion of the debt post-reorg, which mean it doesn't all have to be wiped out to come out of BK. In any case, if the business is worth more than its debts, then the existing shareholders should be able to retain some ownership in a reorg. Thoughts? Bob PS: I'm not a lawyer, but if I was Fred Thompson I could play one on TV. ;-)

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