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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: FJB who wrote (3787)	10/28/2002 1:38:26 PM
From: Gottfried	Read Replies (1) \| Respond to of 25522

Robert, OT *** the pension issue is being discussed on the IBM thread Message 18146006 [end]

To: FJB who wrote (3787)	10/28/2002 1:48:54 PM
From: Steve Lee	Read Replies (1) \| Respond to of 25522

Re pension schemes, Here's Warren Buffet explaining it: fortune.com It is a five part piece by Buffet, and all of it is worth reading. The specific part about pension assumptions starts at the top of the fourth page, so skip there if u like. After you have read it you will understand why: a) IBM's earnings are actually less than what they have reported b) IBM will have to make up for this in the future by reporting earnings of less than what they actually earn. BS earnings payback time!