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

To: Knighty Tin who wrote (84636)	10/28/2000 8:00:20 PM
From: wiz	Read Replies (1) \| Respond to of 132070

Mike So, if Bush is elected, how much do you anticipate making off puts if social security money is invested in the market.. man that would set up a historic crash..lol Is there a sane way that program could actually be implemented? wizz

To: Knighty Tin who wrote (84636)	10/28/2000 9:15:48 PM
From: LowtherAcademy	Respond to of 132070

Mike, thanks for taking the time to respond. It is appreciated. Lew

To: Knighty Tin who wrote (84636)	10/28/2000 10:52:13 PM
From: Ilaine	Read Replies (1) \| Respond to of 132070

You might find this interesting - researchers in London claim that they have a cure for rheumatoid arthritis. If so, say adios to Arava, Enbrel, and kiss a lot of methotrexate goodbye. Fingers crossed. telegraph.co.uk:80/et?ac=000118613908976&rtmo=VPP1u4Gx&atmo=gggggg3K&pg=/et/00/10/29/narth29.html

To: Knighty Tin who wrote (84636)	10/29/2000 12:11:01 AM
From: ild	Read Replies (1) \| Respond to of 132070

How do you think end of MF tax selling season will play this year? Do you think MM will be buyers or sellers on November 1? If I were a MM I'd sell my INTC, CSCO, JNPR etc in November. Well, if I were a MM I wouldn't have them all already by now. Do you believe in seasonality in stock prices? Is it tradable?

To: Knighty Tin who wrote (84636)	10/29/2000 6:39:45 AM
From: JHP	Read Replies (1) \| Respond to of 132070

RE: FMO DJ Federal-Mogul's Miller -4: Six-Part Plan To Restore Co 25 Oct 19:09 In the meantime, Chief Executive Miller said Federal-Mogul has hired an econometrics firm to ascertain the size of the liability and how best to deal with it. "We think it's prudent," Miller said. "Once we get the results in, everyone can feel a lot more comfortable. We can deal with almost anything if we know what it is." Miller has also said he has six initiatives to put the company back in good health. They include reorganizing the company's replacement parts businesses, consolidating North American distribution and institutionalizing an investment strategy. Analysts haven't been nearly as optimistic about the initiatives, saying that many of the ideas were around before. Miller contends, however, that the initiatives weren't broadly used throughout the company and that he will work to apply them everywhere this time around. For instance, he said lean manufacturing practices were used at some plants and but not all of them.. Miller said he'll also work to have better communications with investors. One of the reasons the stock is so low is that Federal-Mogul didn't deliver on many of its promises -- quarter after quarter earnings came in below analysts' expectations, Miller said. "My theory is to promise less and deliver more," Miller said. "We are going to give a lot less forward guidance and go on a track record of delivering results." Federal-Mogul went on a buying spree in 1998 and is now suffering from acquisition indigestion. The company spent $4.9 billion to buy companies such as Cooper Industries Inc.'s (CBE) replacement auto-parts unit and T&N PLC. About a year later the company issued a profit warning citing a declining replacement parts market. Observers say it was a mistake to invest heavily in the replacement parts market just as cars and trucks began lasting longer. Analysts say Federal-Mogul didn't getthe return on the deals that they expected. Several disappointing quarters followed and last month Richard Snell resigned as chief executive, resigned. Miller, who has been on Federal-Mogul's board since 1993, became the interim chief executive. "Dick (Snell) was the right person for the time that we hired him," Miller said. "But things didn't work so well when he got to the integration stage of managing the acquisitions." Miller said the company is looking both "inside and outside" the company for chief executive candidates and he said that Federal-Mogul is looking for someone with a good operations background. Despite speculation that it may be hard for the company to find a chief executive given the bankruptcy controversy, Miller said the company has "choices to make," and could hire a chief executive by Christmas. It's likely that Federal-Mogul won't see a turnaround until 2002, said Miller. He has already said he expects the fourth quarter to be rough, and 2001 won't be a "glorious year" because the company will begin bearing the costs of the initiatives. He didn't elaborate on what those costs would be. Miller said the company is not looking to do more acquisitions and he reiterated that the company is not looking for a buyer. It's likely that there will be some plant consolidation in the quarters ahead, but he said the company is not looking at any mass layoffs. A lot of the job cuts will be made through attrition, he said. Some analysts say they are supportive of Miller's plans to reverse the company's condition, but remain wary about its future. "I lean in his (Miller's) direction," said Charles Brady, an analyst with Credit Lyonnais Securities. "In terms of the covenant violations, it's not a non-issue, but I agree that a good relationship with the bank group can allow the covenants to be reworked or adjusted." Deutsche Banc's Blaschke said Federal-Mogul has a "reasonable shot" at amending the covenants, but the company still may not be able to dodge bankruptcy. "My sense is that even if they do renegotiate, they'll have to sell significant assets to pay down debt," Blaschke said. "Then there's a possibility of an economic downturn before 2004. So we remain concerned about bankruptcy." -Jocelyn Parker, Dow Jones Newswires; 313-963-7800 (END) DOW JONES NEWS 10-25-00 07:09 PM