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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (74269)	1/22/2000 3:39:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Joan, Do you still hold positions in Interstate Bakeries and Flowers? I believe it was you I had a conversation with about those two. I had a position in Flowers. I made a few dollars and sold it. The leveraged balance sheet started to spook me a bit and I didn't feel like hanging around until Mrs Smith's turns around. I still own Interstate Bakeries. I am in the hole a few bucks a share. I'm disappointed. I think I overestimated the benefit that might come from the Drakes acquisition. I also assumed that there would be other small acquisitions. That's been the strategy. Until now they have successfully integrated acquisitions, generated savings using their existing infrastructure and taken new brands to other sections of the country. The Canadian deal that fell through hurt us. Now we are just treading water and have no real ability grow sales. We are limited to repurchasing shares and paying down debt to increase EPS and net income. Not that it's the wrong strategy for now, but a company like that isn't worth all that much. Hopefully when the Ralston Purina stock overhang issue is out of the way the stock will react favorably. Wayne