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To: Les H who wrote (104228)	5/23/2001 12:46:09 PM
From: Gut Trader	Read Replies (1) \| Respond to of 436258

Could Hilary wind up being Majority Leader HO HO HO?

To: Les H who wrote (104228)	5/23/2001 1:14:51 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

Les: More grist for the bear's mill? (g) Best, Earlie

To: Les H who wrote (104228)	5/23/2001 4:38:00 PM
From: Ken98	Respond to of 436258

Les, the carrier hotel / data center submarket was the sexiest place to be the last year or two for some big real estate players. The allure being $40+ RSF rents. National vacancy rates in the sector are now 45+% with many large blocks of additional space coming on line in the next 6-9 months. This highlights the truism that a bubble stock market does manifest itself in the real economy - very sophisticated real estate players made very large investments (and large banks loaned money to them) based on a clientele that ultimately was as fleeting as leaves in the autumn breezes. These real estate investments employed a large number of contractors, bankers, lawyers, etc. - all based on, as Buffett so aptly describes, "birdless bushes." Regards, Ken