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Strategies & Market Trends : Value Investing

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To: Richard Query who wrote (1583)	7/31/1997 5:04:00 PM
From: Mike Chen	of 78719

Your suggestion of CRG highlights the entire CRG circle of companies - ie Reading Entertainment and Citadel Holding. RDGE pops out because after Stater Bros. redeems its preferred, RDGE will have $100 million in cash, no debt - which translates into $13.33 cash with the stock selling at $11.25. Of course, CRG owns 78% of RDGE (assuming conversion of their preferred at $12.50; and per share cash declines with conversion) Complicated interlock, but if you like movie theaters in Puerto Rico, Australia, and NYC - these guys have strayed a long way from the Monopoly Board. [I wonder what the Short Line folks are up to these days?]

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