<...just not enough cash for me to be in all of'em>
Sheesk Ditch, just pick one then <gggggggg>.
NAME LAST CHG % Chg TIME
BAKER HUGHES INC 23 3/8 + 5/8 2.75 Close
COOPER CAMERON CP 51 3/16 +3 5/8 7.62 Close
R&B FALCON CP 14 3/8 + 7/16 3.14 Close
GLOBAL INDUSTRIES LTD 9 11/16 + 3/4 8.39 Close
GLOBAL MARINE INC 19 7/16 +1 5/8 9.12 Close
HALLIBURTON CO HLDG CO 41 11/16 +3 1/4 8.46 Close
NABORS INDUS INC 35 1/4 +2 3/8 7.22 Close
NOBLE DRILLING CP 33 3/4 +1 3/16 3.65 Close
ROWAN COS INC 24 1/8 + 3/4 3.21 Close
TRANSOCEAN SEDCO FOREX INC 38 1/2 +3 3/16 9.03 Close
SCHLUMBERGER LTD 66 1/4 +4 3/4 7.72 Close
SMITH INTL INC 57 +2 3.64 Close
TIDEWATER INC 35 13/16 +2 1/4 6.70 Close
VARCO INTL INC 10 5/16 + 7/16 4.43 Close
WEATHERFORD INTL INC 42 1/2 +2 4.94 Close
AMERADA HESS CP 57 3/4 + 11/16 1.20 Close
ATLANTIC RICHFIELD 76 1/16 UNCH 0.00 Close
BP AMOCO PLC 55 3/4 + 7/16 0.79 Close
CHEVRON CP 89 5/16 +2 5/16 2.66 Close
KERR MCGEE CP 66 1/2 +1 11/16 2.60 Close
USX-MARATHON GROUP 26 7/16 + 7/16 1.68 Close
OCCIDENTAL PET 22 UNCH 0.00 Close
PHILLIPS PETROLEUM 44 7/16 + 11/16 1.57 Close
ROYAL DUTCH PETROLEUM 60 1/8 -1 1/16 -1.74 Close
TOTAL FINA S.A. 63 + 13/16 1.31 Close
TEXACO INC 60 3/4 +1 9/16 2.64 Close
UNOCAL CP 32 3/4 +1 3/4 5.65 Close
EXXON MOBIL CP 84 9/16 + 13/16 0.97 Close
Back to the SKI report for a moment. Bear Stearns' special report earlier
this month made no mention of the earnings shortfall that SKI announced today.
I didn't play this stock, but I bet somebody somewhere bought based on their
report. Seriously, what's the difference between this game and TJ/TM's?
bearstearns.com
Sergio
January 4, 2000
IS INVESTING IN THE SKI INDUSTRY JUST A BET ON THE WEATHER?
Bear Stearns Outlines an Investment Strategy for the Ski Industry in 2000
NEW YORK, New York ? January 4, 2000 ? Mother Nature continues to be the key factor for the Ski Industry, according to a report published by Bear Stearns senior managing director and skiing analyst, Jason Ader. However, the report stresses the importance of the "human" factor in resorts' profitability. This year, according to the National Oceanic Atmospheric Administration (NOAA), snowfall should return to normal levels. Regardless, the Ski Industry must learn to adapt to the uncertainty of weather patterns.
Creating Other Attractions:
Ader notes that successful resorts have made changes off the slopes by investing capital to create compelling resort villages. "The baby boomers and their children, when considering a ski vacation, are looking for a total resort vacation experience, rather than just good skiing and lift service," says Ader. These changes even help to attract visitors during the summer months. Ader cites Intrawest's (IDR) Whistler/Blackcomb and Tremblant resorts as prototypical models, which appeal to skiers and non-skiers alike. "Intrawest has created a formula for success that has enabled it to garner the top spots in the annual resort rankings," adds Ader. Additional resort amenities such as hotels, restaurants, retail stores and rental shops should help to drive revenue in a year where ticket prices are expected to remain relatively flat.
Capital Spending is Paying Off:
Assuming the industry is spared another year of challenging weather, the significant capital investments that have been made by companies during the past several years should begin to payoff, states Bear Stearns. Ader predicts, "For this season, as well as the next several years, effective marketing, creative real estate development and the ensuing resort villages should be the keys to continued growth in the Ski Industry." Ader believes companies such as Vail Resorts (MTN), Intrawest (IDR) and the American Skiing Company (SKI) are grasping this proactive movement toward success and therefore could be in for a profitable future.
To obtain a copy of this report, or to speak with Jason Ader, please contact:
Contact:
Christina Conde
(212) 272-4320
Russell Sherman
(212) 272-5219
Jason Ader is a senior managing director responsible for equity research coverage of the Gaming, Lodging and Leisure industries. His division covers a universe of over 100 public companies. According to Institutional Investor, Mr. Ader is the only leading analyst to be ranked in both gaming and lodging and has been a member of that publication's "All-America Research Team" for the past five years. In 1999, Mr. Ader was named one of New York City's "Forty Under Forty" by Crain's New York Business Magazine.
Founded in 1923, Bear, Stearns & Co. Inc. is a leading worldwide investment banking and securities trading and brokerage firm, and the major subsidiary of The Bear Stearns Companies Inc. (NYSE:BSC). With approximately $21.4 billion in total capital, Bear Stearns serves governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers professional and correspondent clearing, including securities lending. Headquartered in New York City, the company has over 10,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, Puerto Rico and San Francisco; and an international presence in Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, SÆo Paulo, Shanghai, Singapore and Tokyo
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