BMC Industries Message Board

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Non-Tech : BMC Industries

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To: jackhach who wrote (336)	6/10/1998 7:21:00 PM
From: Michael Burry	Read Replies (1) of 359

The stock is amazing. Now half the price insiders paid in November, just 25% above book. Never thought I'd see it. But anyone on this board should also check out the Yahoo board. There are a lot of people over there claiming to be employees who are claiming its doomsday for BMC. I wouldn't take it too seriously, but their explanations are about the only reasons I can see for BMC to take such a tumble. Bloated inventory that is 100% unsellable, management knew for a year that it was going to have to shut down some lines, etc. If they really are employees, looks like bad news even at these prices. Then again, maybe they are bitter soon-to-be ex-employees from the layoffs. The thing that worries me is the debt. If BMC is shutting down lines, and book value is overstated, then that debt becomes a problem. Interesting that BMC just qualified for a 275M credit line - the bankers had to have done their homework and known this was coming. Can it be the market that is overreacting? In any case, what a falling knife this has become! Mike

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