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To: IndioBlues who wrote (51270)	9/16/1999 12:31:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

FGI - this has been one of the best company discussions we've had... ...and only Geiche got emotional (VBG). Big - FGI ought to hire you for their IR person ! but, how many $100-$200M projects are out there right now in this environment??? I would have to think that the Street would kill anyone taking on that debt right here? It would have to be guaranteed contracts - do you see ANY spec building here ? I don't see any of FGI's competitors getting these types of projects either. JL at least needs to comment on bidding activity - at the least...when the quiet period is over. ... I think we had a very good discussion on both the pro & con on FGI... I don't think there was any "hype" on either side. My comments are echoing what is reflected by the sentiment of the vast majority on the street; and you can not argue with that - or FGI wouldn't be at $11 - a near 52 week low, while the OSX is at a 52 week high... ... so we agree to disagree. If the true nature of FGI's "short position" becomes known - and they cover; then FGI has huge upside for short covering - probably $3 worth. But, they didn't cover at all at the runs to $18 & $20 of late - and the bulk of them were instituted about $24ish if I remember... Insider selling - a catch 22; the point of the huge ownership is valid; and folks - they didn't pay the IPO price for their shares either... in reality; all of us would be doing the same thing; but - that doesn't eliminate the huge, huge potential overhang to shareprice appreciation; as Holloway is retiring in 2 years. It just isn't rational to not think that he will not continue to sell, or that others will not. There is a huge amount of shares to still be potentially sold. ...enough on FGI - I expressed my thought and only time will tell. No one doubts they are the best at what they do; I just happen to feel they are in the absolute worst subsector of the entire OSX to be in for the next 12 mos - that is my ENTIRE point. I think they have their work cut out for them - and there will be no real upside action untill they "show them the money" in at least 2-3 reporting quarters post merger. It is also unfortunate that they missed the Energy Conference Road Show - due to the merger... Imho, there are just many, many better choices. I may jump in at $9 7/8ths ish (and HLX) however; for a quick trade - for oldtimes sake...(VBG). I am not short a single share - there is not enough reward vs. the risk - on either the long, or the short side imho. -only a quick bounce trade here sub $10... and HLX is the "play" on this as FGI bottoms.