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

To: JHP who wrote (93449)	12/8/2001 1:30:50 PM
From: William Douglas	Read Replies (1) \| Respond to of 132070

There will be more to follow no doubt. However by the numbers so far it hardy looks like the BK for HAL. The floodgates have been open for years. How a jury rules in a particular case isn't going to have any effect on the number of "legitimate" cases brought in the future. >>In a Nov. 8 filing with the SEC, Halliburton said about 340,000 asbestos claims had been filed against the company and its subsidiaries since 1976, of which 194,000 had been resolved, leaving 146,000 open claims. It said the cases resolved through settlements and court proceedings had cost a total of $143 million, of which it expects to recover all but $38 million form its insurers.<< ``We believe that open asbestos claims will be resolved without a material adverse effect on our financial position or the results of operations,'' the company said in its filing.

To: JHP who wrote (93449)	12/8/2001 3:05:17 PM
From: GREENLAW4-7	Read Replies (4) \| Respond to of 132070

regarding HAL, the asbestos liability is no surprise to us shareholders! They have settled 194,000. claims since 1975. The average claim has settled for $750.00. HAL is not an ASBESTOS MANUFACTURER, like the others who went chapter 11. Yes, the jury did award 2 out of wack settlments, but I sincerely doubt they will wait for the money while in appeal and settle for much less then jury awarded. HAL has been able to show 70% of the claims CANNOT prove causation, which in return means NO LIABILITY= NO DAMAGES= NO AWARD! I was AMAZED at the streets reaction, and how the shorts piled on the stock at 12-14. LOL Look closely at HAL, its the worlds largest oil service company. They are FREAKEN ON SALE at 24-28, at 12-14 I will not express my gratitude to the street. Also lets not forget 95% of the claims and attorney fees are covered under insurance policies. ( not even MO had insurance for its liabilities) So go ahead and knock the stock, or better yet short it..I would love to buy in the 10-12 area, but I missed it being out yesterday! Personally the shorts will get FRIED on HAL, and once crude heads back to 22-24BBL, watch where HAL goes. Sometimes it pays to do homework and research a stock before you short it based on CNBC grouping HAL w/ ASBESTOS MANUFACTURERS! By the way look up how many other companies are in a similar situation in the oil and gas sector it may SURPRISE you! Good luck!