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Non-Tech : RECY Looking Good... A

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To: Braddock Bull who wrote (5871)9/25/1998 8:42:00 PM
From: James Strauss  Read Replies (4) of 7006
 
What To Do Now???
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All:

Sorry I haven't been able to post recently...

I'm just as perplexed as everyone about the resignation of BDO Seidman... My first inclination was like almost everyone else... I questioned whether BDO found something that RECY didn't want disclosed... I asked RECY questions regarding anything that BDO wanted to disclose or interpret differently than RECY... The answer I got was there are no disagreements about anything... They gave me a similar answer about having problems with another scrap metal company and have decided to exit the auditing of scrap metal companies completely...

So, I have two choices... Believe RECY's explanation or head for the hills...

I agree that when an auditor resigns I'm usually suspicious... And, I'd be lieing if I said I wasn't suspicious now... But, RECY has never lied to me before... So, I'm going to give them the benefit of the doubt and continue to hold my position and buy any dips below 1.50...

I suggested that they put out a press release to further clarify the facts surrounding the BDO Seidman resignation... Let's see what happens...

I'm sorry that I wasn't around to cheerlead this past week... The country will always need steel, and I believe that RECY will be a major player in supplying scrap metal to the mini mills... If I'm wrong, I lose money... If I'm right, I make money... Each one of us has to decide what's appropriate for our own investment circumstances...

Jim
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