WDC/Sandisk Corporation Message Board

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Technology Stocks : WDC/Sandisk Corporation

WDC 176.87

-2.4%

Dec 22 3:59 PM EST

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To: John Carragher who wrote (25354)	3/15/2004 8:58:34 AM
From: Art Bechhoefer	Read Replies (2) of 60323

John, only the larger international companies using hedging on foreign currency transactions. Hedging is only successful when it involves much greater money flows than would be expected even in a company the size of SanDisk. Hedging also would not be a useful strategy for a U.S. company when the dollar value is falling against other currencies, but only if the reverse were true. It would take companies the size of GE, Caterpillar, or 3M to make hedging useful. Recent earnings reports from Caterpillar and 3M show how a falling dollar can benefit companies with large foreign sales. About half of the growth in earnings for Caterpillar and 3M in the 4th quarter of 2003 was attributable to foreign exchange currency gains. Art

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