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

To: mishedlo who wrote (26304)	2/1/2002 10:28:43 PM
From: MSI	Respond to of 99280

Interesting - Moody downgrades, but turns around and says they can support WCG obligations: "We believe that WMB has the financial resources and liquidity to perform on its obligations to WCG without impairing its own credit quality," Moody's wrote." ... after 65 pages of notes of contingent liabilities

To: mishedlo who wrote (26304)	2/2/2002 8:26:24 PM
From: Jdaasoc	Respond to of 99280

M WMB has got WCG subsidiary, a fiber optic network albrtross, which brings home my point if recession continues and debts and stock price keeps getting downgraded, WMB will get some of these loans called and will have to pay more in interest and fees. When cost of debt becomes too much to carry these loans on the books you get Chapter 11 filing. I think you may want to hear my Kmart story. I think people who invest in stocks in some of these discount retailers don't want Kmart to survive allowing the other chains to survive and prosper. These are the same people who until the end of Naz bubble and recession wouldn't be caught going into a discount retailer but under the current circumstances now go to Target and Walmart instead of Macy and Lord & Taylor. They feel that Walmart and Target are a good type of slumming with the masses then a corresponding experience at Kmart. I should know I have been to Kmart at least twice during Christmas shopping season. I filled my cart to the top for $200 of imported Chinese goods just like they sell elsewhere. For instance, for $10 I got a set of seven dishcloths with the days of the week on them for my 3 year old daughter to learn about which were made by that little Polish girl from Nutley NJ who made good, Martha Stewart. I got to the checkout and realized that working class poor and legal and illegal immigrants to this country were the majority of their customers on the checkout lines. Damm, it is a good country that almost anyone who has a job and not even a car can afford the basics staples of life. I serious doubt as long as our economy keeps chugging along that these working class people will stop shopping a Kmart because of what some analysts say. They just don't have that many options available to them if Kmart closes. The bourgeois who because of they stock investment's value who now go to Costco and Walmart will return to the fancier stores as they did two years ago when they were a whole lot richer as soon as their disposable income after saving for retirement improves. I don't think Kmart has lost many of the clientele and basic profitable they have had it just Walmart and Target have done a whole lot better. Maybe Kmart should change it's moniker to "azul reflector especial" if they want to survive bankruptcy.