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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (12379)	12/11/2001 7:14:04 PM
From: Dale Baker	Respond to of 99280

One last note on MAXF - the loss insurance applies to this quarter as well, until MAXF has restored full operations. From a recent PR: Maxcor, which within a week after the terrorist attacks had established temporary headquarters at One New York Plaza in lower Manhattan, reiterated its commitment to rebuilding its revenues and operations to levels matching, if not exceeding, those existing prior to September 11th. As a measure of its progress, the Company disclosed its preliminary assessment of October revenues for its New York operations as being approximately 80% of their average monthly operating revenues for the first eight months of 2001. Maxcor also reaffirmed its belief that its property casualty and business interruption insurance (with respective aggregate limits of approximately $14 million and $21 million) will adequately fund its rebuilding efforts and compensate it for lost profits during the period prior to its full restoration of operations at a permanent location. For a fuller description of its insurance coverage, as well as its accounting treatment of anticipated and actual insurance recoveries, Maxcor is referring investors to its quarterly report (Form 10-Q) for the period ended September 30, 2001, which will be filed later today with the Securities and Exchange Commission (www.sec.gov).