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Strategies & Market Trends : January Effect 2001 -- Ignore unavailable to you. Want to Upgrade?

To: Q. who wrote (69)	12/20/2000 8:26:17 AM
From: RRICH4	Respond to of 289

PRTN a recent IPO at 17, has $5.15 in cash on hand, closing price was 6 1/2. They have $170 million in cash and are burning about $20 million per year. This link contains a good description of the company: wallstreetcity.com.

To: Q. who wrote (69)	12/20/2000 8:27:19 AM
From: Bob Rudd	Respond to of 289

GPI: Receivable and inventory % growth both outpacing sales Qtr/PY Qtr 47/36 & 44.4/36 respectively. First Union & GE Capital have recently withdrawn from auto financing biz [For an exagerated view of the impact of this look at how manufactured housing outfits have faired compared to their stick build brethren in the wake of Greentree/Conseco debacle that had effect of pulling back on financing - roughly the last 2 years]. Another potential impact is the lowering of residuals on leases of SUV's - a lease is a sale by another name. If the residual is lower, the lease payment must be higher - this discourages payment-sensitive leasing customers, many of whom transact at local dealerships. Can't say what impact the Oldsmobile discontinuance might have - these guys only have one olds dealer. Depends on whether GM stiffs the Olds dealers or gives them other franchises - If it results in Olds dealers leaving the biz entirely it may be a positive. None of this is to say this doesn't get a solid bounce - just a heads-up.