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To: Big Dog who wrote (51199)	9/15/1999 3:11:00 PM
From: Gary Burton	Respond to of 95453

re FGI-chart tells me risk is to 8.50-9 by late Oct-- I said this a few months back and still stick to this downside potential--not saying it WILL get down there-just think the odds are too high that it may. Also,too many other stocks with less downside risk vs upside in my view-- my 2c

To: Big Dog who wrote (51199)	9/15/1999 3:12:00 PM
From: upanddown	Read Replies (1) \| Respond to of 95453

I like FGI at this level. Wake up one day before Christmas and it's an $18-20 stock Big With HLX currently selling at a 13/16 discount to parity, wouldn't it be a better deal to get that "$18-20 FGI" via HLX? Approval by HLX shareholders seems assured with this sweetening of the deal. Do you know when the Bingo arbitration with Ocean Rig will take place? TIA, John

To: Big Dog who wrote (51199)	9/15/1999 3:18:00 PM
From: SliderOnTheBlack	Read Replies (3) \| Respond to of 95453

<Wake up one day before Christmas and it's an $18-20 stock. So sayeth the Dog.> Big;I hope you're right... sad to see the once pride of the patch fall to the bottom. I am not short - see much less risk & better reward elsewhere; but in all honesty; the shorts are going to run this one, right here for everything they've got imho... Not a time to be on margin - owning this at the very least imho. Big & others; do not mistake my comments on FGI here; they are the Yard of Choice, great company, great management; but - the tale is in the tape... The OSX is up 60-70% ytd - and FGI is a dog with fleas... I "want" FGI to do well, but there is no institutional support, never really has been - and that "short interest" still has some big questions overhanging it... that's why I hear the Institutions aren't interested in playing here.... 1. FGI has to address the nature of the short interest, but can they ? if they do - and it is, what many think it is ? are they cutting their own throats ? 2. They have to announce some new orders, bid activity - the backlog decline is "the story" . 3. HLX has its own host of problems - consolidating the number of yards, raising margins, cutting costs etc. FGI has to smoothly integrate their operations and simultaneouly tend to the gaping wounds in both businesses - a tough act... Holloway had better be like a Baptist Preacher on Easter Sunday , during the road show, to turn this around to $18-$20 imho. I have no position here in either; but I see FGI getting leaned on heavy here... and ultimately, going long HLX , if you can time the bottom - will be the play. ...about 3.5 Million shares sold by insiders since XMAS - out of a 11 Million share float !!! biz.yahoo.com I may just talk myself into shorting this after all (VBG). Look at the recent insider sales... crawford - 800K for $12.5 Million !!!!! and anyone wonders why this is a short magnet ? I gave up the Holy Grail for this one sometime back... there is no other stock that I find myself loving/hating so intensely... Management has not pleased me with their actions... they've talked a good game, but do as they do (SELL) not as they say...(Buy).

To: Big Dog who wrote (51199)	9/16/1999 12:50:00 AM
From: Rainier	Read Replies (1) \| Respond to of 95453

Big, <Re FGI. I talked to JL this morning. He said the quiet period will be over "Monday week".> <He has had to cancel three investment conference presentations this week and next due to the imposed quiet period.> Could you clarify a little? I assume JL/you meant "Monday NEXT week." Is that correct? And, if that's the case, why would he have to cancel his appearance at the Pace Setters Conference on the 22nd? That, in my opinion, was more valuable than either the Dain or Morgan Keegan dog and pony shows. Thanks for sharing your insight. Information out of IR has been conflicting over the past few weeks, and it's good to get the scoop from the horse's mouth to the dog's ear, so to speak! Best regards, Mike