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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (80675)	7/21/2001 8:00:54 PM
From: puborectalis	Respond to of 99985

Metromedia holders want more value By CBS.MarketWatch.com Last Update: 1:30 PM ET July 21, 2001 NEW YORK (CBS.MW) -- Disparity between the monumental personal wealth of John Werner Kluge and three of his companies, which haven't fared as well as their owner, were pointed out Saturday in a Barron's article. FRONT PAGE NEWS Brace for more volatility Economy was uglier than it looks Internet gathering experiences the 'bust' of times Latin markets: Bargain prices for adventurous investors Market news and more! Sign up to receive FREE email newsletters Get the latest news 24 hours a day from our 100-person news team. Kluge, who has a personal fortune of $10.9 billion, controls Metromedia International Group (MMG: news, chart, profile) , Metromedia Fiber Network (MFNX: news, chart, profile) and Big City Radio (YFM: news, chart, profile) . According to Barron's, the California Public Employees' Retirement System, owner of some 600,000 shares of Metromedia stock, identified the company last March as one with "poor financial and corporate governance performance." Some shareholders have launched efforts to make management improve the financial situation at the companies, including sales or spinoffs of attractive units such as lawn-care company Snapper. A New York money manager, for example, has initiated a proxy fight to get two outside directors onto the Metromedia International board. Critics fear Kluge would try to take his companies private at a low price, Barron's reports, then strip off assets for an attractive profit. Kluge performed a similar feat in the 1980s, taking Metromedia private, selling broadcast properties that became the Fox network, and later returning the company to the publicly traded sector. One impediment to that scenario, notes Barron's, is that News Corp. (NWS: news, chart, profile) owns 9 percent of Metromedia International shares and would not be likely to accept a shearing. Shares of Metromedia International closed Friday up a penny to $2.16 a share. Metromedia Fiber Network declined by 11.5 percent, or 16 cents, to close at $1.23, and Big City Radio shed 5 cents to finish the week at $3.

To: Mike M who wrote (80675)	7/21/2001 8:31:41 PM
From: bobby beara	Respond to of 99985

Mike M, that post gets my post of the day vote, everyone should copy that and keep it in their trading binder. b

To: Mike M who wrote (80675)	7/21/2001 9:21:41 PM
From: HairBall	Read Replies (2) \| Respond to of 99985

Mike M: No one who has been in the market for a long time has not been exasperated by the inability to predict the short and intermediate direction of the market on any consistent basis. NO one. When I see a post like the above on a MDD I always ask myself, (no offense intended) why is this person reading this thread? I am not taking umbrage with your declaration that "no one" can "predict the short and intermediate direction of the market on any consistent basis". While not your statement, it is beyond obvious that "no one" can get it right all the time. However, I do believe that a few individuals can and continue to discern the markets direction on a "consistent enough" basis to make it well "worth" the effort to continue to work at it. Regards, LG