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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Thompson who wrote (18396)	6/20/2001 1:56:44 PM
From: Zeev Hed	Respond to of 30051

If volume was coming in, maybe, but without volume, not ready. It sure is a value play, but you may have to wait. I am still sitting on stuff from around $7 (free shares, so I did no do the SL , a big mistake), and some more I bought last October, under $3. We are not too far from my break even (just above $4.10), so I am waiting. Zeev

To: Bruce A. Thompson who wrote (18396)	6/21/2001 3:00:34 AM
From: Sam	Respond to of 30051

Hi Bruce, Don't know if you caught this paragraph (see below) in ASYT's warning. The real estate bubble in CA may be imploding as energy costs are exploding. Not a good combination. Wonder how much trouble this will cost banks that make big real estate loans out there? With all the news focus on the energy situation, I haven't been reading much about the real estate situation. Another problem for Uncle Alan to deal with. Sam <<The company also announced today in its annual report on Form 10-K filed with the SEC that it had decided not to proceed with the construction of a new corporate headquarters in Fremont, California. The company has amended its contractual arrangements with the bank syndicate financing the new project and has committed to purchase the approximately 36-acre parcel from the syndicate on or before December 31, 2001, for the original purchase price of approximately $38.3 million plus accrued interest. The company has not yet determined whether to sell the property or hold it for future development or sale. The company believes that the current fair market value of the land is substantially less than the original purchase price due to a decline in the real estate market in the Fremont area. If sold in today's market, the company estimates that proceeds from the sale would be in the range of $10 to $20 million less than the amount due to the bank syndicate. The company also believes that it will be required to record an impairment charge or other reserve with respect to the land during the quarter ending June 30, 2001, the exact size of which has not yet been determined.>>