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To: Robert Salasidis who wrote (60807)10/29/2001 5:24:45 PM
From: Joe NYCRespond to of 275872
 
Robert,

They have announced a reduction in cap exp for the coming year (in light of the downturn being loner than initially anticipated). This should save a few billion, and hopefully decrease the chance of going into the red.

Cash spent on capital expenditures is not directly deducted from earnings. Earnings are affected by depreciation of capital assets.

Joe


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