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To: Art Bechhoefer who wrote (15500)10/11/2000 4:47:11 PM
From: Steve Lee  Respond to of 60323
 
please see my second edit that shows a loss of about $170 million. In effect, the UMC is down on the books at its value at the time of the merger, not at the time of the original USIC investment. Yes, I hate to think what this will do to SNDK in this market. BTW, it is not an if, I can't see how SNDK can make a profit this quarter under these circumstances.