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Politics : Idea Of The Day

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To: j g cordes who wrote (18645)	6/19/1998 5:37:00 PM
From: Logain Ablar	Read Replies (1) of 50167

Jim: I'm not pessimistic on IBM on their practice of reinvesting the cash in the buy back. From a financial perspective on allocation capital this has been a great move. Would you want them investing in a line will a lower return. It takes time to turn around a company and they've been doing a good job. Not great but they've survived and the stock is up four fold in the last 3 years. I actually think they'll be looking to invest somewhere besides their stock. Tim

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