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To: TimF who wrote (147143)	5/14/2002 4:04:04 PM
From: TimF	Respond to of 1584457

Auditor Doubts Ziff Davis's Future, Citing Big Losses and Loan Default DOW JONES NEWSWIRES Ziff Davis Media Inc.'s independent auditor, PricewaterhouseCoopers, raised substantial doubt Wednesday about the company's ability to continue as a going concern, citing its significant loss from operations and a default on its senior-credit facility. Earlier Wednesday, bondholders representing about 60% of the technology publisher's 12% senior subordinated notes due 2010 agreed to a financial restructuring. But the company is still working to cure a default on its bank facility before its forbearance agreement expires June 28. According to its transitional report for April 1 to Dec. 31, 2001, filed late Tuesday with the Securities and Exchange Commission, Ziff Davis said it doesn't believe that its cash on hand along with "existing sources of cash" are enough to fund its cash needs over the next 12 months under its current capital structure. Under the restructuring plan announced Wednesday, the company's majority owner, Willis Stein & Partners, and other existing stockholders would make an equity cash infusion of $80 million. Ziff Davis, New York, said in the SEC filing that its ability to continue as a going concern depends on generating enough cash flow to meet obligations on a timely basis; complying with the terms of its senior-credit facility, as amended, and its senior-notes indenture; getting additional financing; and re-establishing profitable operations. Completing the proposed restructuring is subject to 95% of senior-note holders tendering their notes in the exchange offer and the company's senior-bank lenders agreeing to changing the facility, among other things. Ziff Davis Media said that if it isn't successful in getting a restructuring, it is likely that it will be forced to seek bankruptcy protection. If it restructures its finances, the company still will have significant debt levels, Ziff Davis said in the filing. In its report to the SEC, Ziff Davis Media said it incurred a loss of $415.7 million for the nine months ended Dec. 31, 2001, and a loss of $73.4 million for the fiscal year ended March 31, 2001. The company said it had total debt of about $429.2 million and total stockholders' deficit of $39.7 million at Dec. 31, 2001. Updated May 1, 2002 3:15 p.m. EDT online.wsj.com

To: TimF who wrote (147143)	5/14/2002 6:57:42 PM
From: tejek	Read Replies (2) \| Respond to of 1584457

Let's just look at the WB and Gaza. Why are the Palestinians not being given the WB and Gaza? They where offered over 95% of this territory plus some of some other land to make up the difference. I can see some reasons why the Palestinians might consider the offer to inadequate (for example Israel would control all of the new territory's borders) but that makes it a starting point for negotiations. But instead of a counter offer the Palestinians get "pissed" and start blowing things up. How do you negotiate in a situations like that? Tim, when was it a starting point? They have been discussing this issue for years. And I not saying that the Palestinians aren't part of the problem, because they are. However, the Israelis are not much better. Each time they negotiate with the Palestinians they claim its the best offer they have ever made and the Palestinians should be grateful. And then it turns out the offer gives the Palestinians just another centimeter of land. In the meantime, nothing is ever resolved, and each year more Israelis settle in the WB. Does that sound like good faith negotiations to you ? I think they want all of the WB and parts of Gaza. If they didn't, why have they settled over 200,000 Israelis into the occupied territories? The 200,000 only take a small part of the territory, mostly around Jerusalem. That's the part that Israel wants to keep so that Jerusalam can have a minimal buffer zone and Tel Aviv will be out of artillery range. That's not true......there are settlements all around the area that is adjacent to the neck of Israel.....that part of Israel that's the most narrow. Don't you remember Z talking about it.......that the area was too narrow. I saw a map once showing the settlements......I will see if I can find it again. OK, imagine I'm pissed about something. I want a concession from you on some issue which we have been negotiating and I think you are being totally unfair. So I slash your tires, beat up your son, and threaten your wife. After a few days of this third parties suggest we go back to the negotiation table. Would you now be prepared for a major increase in what you offered. What if you did increase it, but then I decided it still was not enough so I firebombed your car and killed your dog. You decide enough is enough so then you go after me. You mess me up a bit and eventually we get back to the negotiating table. Is your first thought "gee he must be pissed, I better offer a lot more"? Not at all....your argument would be fine if this all started 3 years ago but it didn't. This fighting started nearly a hundred years ago shortly after the first Zionists landed in Palestine. Who started it first.....who knows but neither side is guilt free, and the Zionists had the edge because they had a prior relationship with the Brits. The Palestinians ended up getting screwed; that's life but don't expect the Palestinians to be all warm and fuzzy over it. In case my point isn't clear I'll express it more directly. OK there pissed. So what. Of course there pissed. The relationship between Israel and the Palestinians has not exactly been one of love and understanding. But I don't care how pissed they are. The terrorism is sick and wrong. Of course, its sick and wrong but what do you do when your opponent is a lot stronger and plays a cat and mouse game with you? None of this is very right but I think the Israelis need to start acknowledging their responsibility in this whole mess instead of playing the martyr. They got their land and independent state......now its time to pay up some back taxes. It wont get them what they want and if it did then it would only encourage others with a grievence to turn to terrorism. If Arafat or someone who takes over from him in the future can not stop the terrorism then there is no point in negotiating with him. If he can but will not stop the terrorism then why should he be treated any better then any other terrorist? If terrorism worked, the Palestinians would be in their new state long ago.........I'm sure they know that. Their terrorisms signals that they want what they want and that they are prepared to die for it. ted