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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (93370)	12/3/2001 5:14:49 PM
From: BSGrinder	Read Replies (1) \| Respond to of 132070

Michael, Is there any truth in this statement from Bloomberg: "Micron and Hynix have suffered large quarterly losses due to a record downturn in memory chip prices, but Micron Technology has a strong balance sheet -- $1.6 billion in cash at the end of its August fiscal year -- to weather the rough times." How have they managed to have so much cash appear on the balance sheet, when you and Fleck have said for years that they have negative free cash flow? Have they piled on debt (that Bloomberg conveniently ignores)? Thanks, /Kit

To: Knighty Tin who wrote (93370)	12/3/2001 5:27:19 PM
From: BSGrinder	Read Replies (1) \| Respond to of 132070

Michael, (more musings on MU) I notice that institutions own 105% of the float, and according to Fleck, that is concentrated in Fido and one or two other fund families. Is that what props up such a money losing sardine? - as long as the big funds don't sell, there's nobody else to apply much selling pressure? Micron never did have the hordes of true believers that companies like JDSU, RMBS, Dell, and Intel had. I wonder if there are other companies like Micron, that are literally wholly-owned by a few funds? Thanks, /Kit