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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Ron Bower who wrote (9438)	12/28/1999 6:02:00 PM
From: James Clarke	Read Replies (2) \| Respond to of 78530

LII looks interesting. Why is operating cash flow (and free cash flow) falling for the last three years? With a good deal of debt on the balance sheet, is liquidity an issue here? Just a question - haven't done nearly enough homework to read anything substantial into that.

To: Ron Bower who wrote (9438)	12/28/1999 7:19:00 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78530

Ron, LII; SVE. Yes, I like LII also. Tangible book value is somewhat under $6. Price to EBITD is about 2.3. Some insider buying also. I'm playing LII through SVE. SVE is being bought out by LII @ .67 LII sh. for ea SVE sh. For each SVE sh. ($5.6/sh. at today's close) I expect to get (.67 x 9.25, today's close) = $6.2/sh of LII stock. That's assuming the deal closes and everything remains the same (ha!). Expected closing date is 1Q '00. I don't have any answers for Jim's questions regarding LII.