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To: Redman who wrote (6675)	6/12/1999 12:17:00 AM
From: Mike Buckley	Respond to of 9068

MikeM, I'll also side with Ray in agreeing with you, but for a different reason than Ray gives. If I remember correctly, the stock price was relatively low at the time the buy-back authorization was made. The authorization at the least might have helped create a floor for the price of the stock and at best might have helped the price rise. As you know, an authorization isn't a promise to buy back the shares; it's only an authorization should the head honchos actually decide to spend the money that way. My thinking is that management has absolutely no intention of spending any where near $200 million on shares. But since it had the excess cash and the low stock price, it didn't hurt to issue the press release. Just my opinion. --Mike Buckley