(LVLT) - Level 3 Communications Message Board

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Technology Stocks : (LVLT) - Level 3 Communications

LVLT 53.63

0.0%

Nov 1 5:00 PM EST

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To: Dean Gaulberry who wrote (565)	3/28/1998 10:43:00 AM
From: R. Marks	Read Replies (1) of 3873

When Pete Kiewit set up the employee stock program, he did so very conservitively. The stock was set up so that if EVERY stockholder cashed thier stock in that the company would still own the equipment and property to continue the business. In addition, all investments are carried at purchase price to eliminate fluctuations in the PKS stock value (this value is set each spring and remains constant for the year). IF YOU DO SOME RESEARCE yor will find that the "D" stock is set up identically in establising the book value (I suspect this will change after the NAZ listing). Because of this setup, the C-TEC spin-offs are listed on the books at $55mil while they are currently worth about $1.52 Bil at market value. The above price establishment is also true of Cal Energy (sale took place in 1998, book value is set on year end 1997), the office building in Aurora, CO , the coal properties, etc, AND some others that are hard to ferrit out. Think about this for a while, look HARD at the SEC reports and work on a REAL WORLD valuation. I personally think its in excess of $25.. Good luck

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