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Non-Tech : Federal-Mogul Corporation (FDMLQ) -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (103)	5/24/2001 10:30:43 PM
From: JHP	Respond to of 142

The Euro by: fmo_shark 05/24/01 12:18 pm EDT Msg: 15076 of 15095 Friends, In the midst of the other bad news, I regret that I must add another item. The Euro has dropped below 86 cents, and is slowly sinking toward its exceptionally low late-2000 level. As we have discussed so often, FMO's European-heavy position makes it particularly vulnerable to exchange rate problems. FMO's European sales will not see better days until the Euro approaches parity or at least returns to a range where hedging policies make a difference. Most companies hedge to protect a fluctuation of 5% to 7%. A 14% fluctuation is most difficult. Respectfully, fmo_shark