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Non-Tech : Wescorp and WFSI
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To: Paul Senior who wrote (4)2/23/1998 7:00:00 PM
From: Keith J  Read Replies (2) of 56
 
I own WFSI. Fortunately, I own at 8 5/8 and 8 3/4. Although I did miss on selling at 22 last summer/fall.

I think the restructuring on the whole will be positive. I think the major expansion was probably not in the same area as where they are consolidating.

I've seen insiders buy WFSI in the low teens, so I would think they don't intend to lose their own money.

Bear in mind this stock is pretty thinly traded, and there's not that large of a float. However, there is a pretty substantial short interest in this stock. It was nearly 1.5 million shares in January (Feb. numbers should be available shortly). I don't know how much lower the shorts think this will go. Book value is about $7, and the restructuring should add somewhere in the vicinity of 28 cents a share (after tax annually) once fully implemented.

KJ
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