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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: miklosh who wrote (61995)	6/10/1999 5:56:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

Mik, MGG was one of my all-time great short sales before they had put options. But I think Kerkorian, not Kervorkian <g> (those zany Armenians), is a terrific businessman. His property is now getting long in the tooth in a city where the attention span lasts as long as a show girl's bra. He has updated it well, but it is no longer #1 with a bullet. It is also a big motor scooter and things have to be hot in Vegas for them to max out their profit margin. 1. I would sell at $50, but the odds are you will not get the opportunity. 2. They are only buying at $50 to impress the gullible. Otherwise, why not buy at the market? It isn't that many shares that they have to make a tender offer. What I dislike about tender offers is the limbo time. You send your shares to them without knowing how many, if any, they will buy. Then, they hold them for months. If the stock crashes, you have to short against the box as you have nothing to deliver into the sale. But, still, a profit of 16% or so in a few weeks for some of the shares is a good deal and I would take it.