Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (4658)	11/18/1998 1:54:00 PM
From: NYBellBoy	Read Replies (1) of 18998

Mr. Pink - News on Indymac: From Yahoo - NDE to lay off 280 people by: asteroidandrew 632 of 633 Colleagues, This morning's announcement by Mr. Perry says they will layoff about 280 of their 1500 employees, and reduce operating costs by 25%. Also, they've reduced their loan portfolio from 7.4B to about 6.7B, and he expects it to decline to somewhere between 5.2B and 5.7B. He also expects an operating loss for the 4th Qtr. Yesterday's fed action should help this industry recover. Fed chairman Greenspan is obviously very concerned about the growing risk spreads that have seriously impacted this industry. And if the fed is worried about it, I take that to mean that over time the problem will be fixed. We need to be patient. If NDE is still OK with all of its creditors it should survive, barring another shock to the industry. Please give me your opinion. I have Nov 10's due friday, I purchased @ $3 and are now worth 5/8. Should I roll them out to the future or close them out by tomorrow and take my lumps? 8\| BellBoy (A Pale Pinkophile)

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