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Microcap & Penny Stocks : Ames Department Stores (AMES) -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Tang who wrote (1731)	10/4/2000 8:49:39 PM
From: Market Tracker	Read Replies (2) \| Respond to of 1911

Sept. sales to be released tomorrow morning around 8:30 - I just got back from a badly needed rest. Took a few days away to re-charge the old batteries and got back just in time to see the Sept. sales numbers being released tomorrow. Haven't had a chance to call the company and will wait to see tomorrow's figures before doing so. I do have a few thoughts though. WMT pulled down their e-commerce web site today to re-vamp that effort. They claim it should be down for 2 weeks. I understand they had timely product delivery problems. The rest of their logistics are fine. Perhaps the e-commerce business is going to be a bit more difficult than many have anticipated. Profitability of the AMZN business model has been seriously brought into question as well. Everybody talks about the weather, but nobody ever does anything about it. In the 2nd Q conference call Joe repeatedly mentioned the abnormally cool and wet weather, oil price increases, and Professor Greenspan as 3 reasons AMES wasn't up to snuff. Capital expenditures are/or have been reduced by $25.0 MM. SG&A at corporate level has been reduced by 5% as well. I am more impressed with the job Joe is doing, consolidating a large takeover and at the same time doing what appears necessary in a less than perfect economic operating environment. I especially like to judge management's mettle in difficult times. It helps to show me what they are made of. IMO Joe, Rolando et al are solid. The debt picture, while admittedly a tad on the high side, curiously doesn't put me in a tizzy. The company will operate solidly in the black this year, and coupled with sound inventory management practices, which appear to be in place, AMES should easily weather this autumnal squall. I began re-building my position in AMES at sub 4.75, and have added since then. Should tomorrow's Sept. SSS numbers disappoint, I will add to that position. Also playing the GE game. Now about 60% cash but getting trigger happy. Gary