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To: NOW who wrote (51580)	8/28/2002 3:48:23 PM
From: bcrafty	Respond to of 209892

I watched it go up the hill I don't know about your broker, but with mine it's awfully hard to get shares to short when it has such a low daily average volume. Kind of a situation where something looks nice but I can't have it. <g/ng>

To: NOW who wrote (51580)	8/28/2002 4:07:39 PM
From: reaper	Read Replies (1) \| Respond to of 209892

yeah, i follow it. they are a provider of printed checks and business forms. decaying business (revenue growth is sub-3%). huge free cash flows, which they use to buy back stock, which has done wonders for the stock price over the last 2-3 years. they are now buying back stock in excess of the free cash they generate, which seems not a good idea to me but then again they can handle $200mm of debt with $200-$250mm a year of free cash flow. market cap of $3 billion seems fair, but remember this is a zero-growth business. not an obvious long or short on FA. Cheers