Cendant Corporation (NYSE:CD) Message Board

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Non-Tech : Cendant Corporation (NYSE:CD)

CD 7.610

+7.8%

3:59 PM EST

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To: Frank who wrote (1177)	7/22/1998 12:41:00 AM
From: Sr K	Read Replies (2) of 3627

I'd go slow if I were you; this is not Yahoo. <<One person quoted a book value under $4 (Not you), but did not know how to calulate it. You've made pronouncements about cash flow, but what adjustments are you making to determine your figures given the accounting contentions. You were hoping and praying that the stock wouldn't go to 12? What was so magical about 12? Book value is roughly between 5 and 6, is it because your model of the business suggested that stock price should be supported at a minimum of 2X book.>> It seems to me that the person who quoted a book value under $4 was more right than you claiming $5 to $6. No one cares what book value is at this point; they care about stockholders' equity per common share and book value per common share. Take out the Mandatorily redeemable preferred securities issued by subsidiaries of $1,447.0 (millions) and CD common bv was barely over $4.00 before the 6/30 adjustments.

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