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Non-Tech : FedEx (FDX)

FDX 263.86

+3.9%

12:24 PM EST

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To: Darryl Olson who wrote (191)	9/17/1998 7:55:00 PM
From: A.J. Mullen	Read Replies (1) of 524

I think this is a good company with great prospects. Nevertheless I sold a week or so ago. My reasoning was (as usual) convoluted. Reports from Canada strongly suggest that an electrical fault may have triggered the emergency aboard the MD11 that crashed off Peggy's Cove. In the very early days of the reporting of the crash there was some mention of the insulating tape used aboard McDonnel Douglas airliners. The same report mentioned that FDX use a number of them. I called FDX IR, and yes, they use 25 MD 11, 47 DC10s and 22 DC10/11, as well as 63 Airbuses, for their intermediate and long-haul routes. My fear was that the insulating tape might be identified as the problem, and that some or all of the airplanes might have to be taken out of service for a while. I have no idea how long it would take to rewire an airliner, but I think it would be a big undertaking. It might not be a problem at all, however, and if it is, it might affect only a small proportion of the MDs. I am pretty sure they said Boeing didn't use it. I don't think they mentioned Airbus.

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