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To: delmarbill who wrote (33489)	6/19/2001 7:55:46 AM
From: James Calladine	Respond to of 42804

OFF TOPIC: LIFE IN THE TIME OF BIG NUMBER WRITEOFFS (from Briefing) <<<06:58 ET Dell Computer (DELL) 23.92: WSJ reports that company is paying $47 a share to repurchase some of its own stock as a result of a employee-compensation plan that has gone awry. Dell sold puts against its stock to help offset the cost to issue shares. With the stock now trading at a significant discount to the strike prices, Dell faces a liability of $4.22 bln to cover the existing put contracts.>>> Namaste! Jim