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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: 249443 who wrote (3191)	4/25/2002 8:03:05 AM
From: GVTucker	Read Replies (1) \| Respond to of 3770

The news out of TYC this morning is probably more than the short sellers ever hoped for. They can't sell the plastics unit, they can't sell CIT so they have to spin it off, and earnings are way below expectations. And finally, the write off means that they may be in violation of a debt to capital provision in the debt. Which all tells me that the stock may finally hit the bottom today. I said all along that the break up plan made no sense. I said all along that buying CIT made no sense. TYC management is now agreeing. edit: There's still one dumb thing out there that they need to change. The share buy back is stupid. TYC needs to cut debt, even without CIT. Paying off debt rewards shareholders, too, but leverage decreases in this case.