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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: 249443 who wrote (15725)	10/31/2002 6:25:51 PM
From: E.J. Neitz Jr	Read Replies (1) \| Respond to of 78670

Capstone Turbine...mrcjmoney and timbabear 1. my position is 500 shares @1.00 so not much $ risk 2. Their Current and quick ratios exceed 10x unusual for any company and indicates ample liquidity at present 3. Minimal 2.6 million in LT capital lease obligations and debt. 3. Like most manufacturers, business is dismal, however, they were able to reduce quarterly cash burn from $18mil to $10.8 mil in the just announced quarter. 4. They have $140mil in cash and equivalents...so 14 months or so. Suspect the expense side can and will be further reduced. Other variables such as increase in future business especially with the United Technologies contract makes forcasting very uncertain. So, your comments are certainly valid and I will re-evaluate my holding in another 6 months, or upon a double in share price from $1-$2 will exit position unless something positive unfolds. Again........$500 at risk.

To: 249443 who wrote (15725)	11/11/2002 5:37:08 PM
From: 249443	Read Replies (1) \| Respond to of 78670

Cendant/Duke Does anybody have an opinion on Duke? I've always had a high opinion of DUK management, but there are rumors that Enron indictees have fingered DUK in the CAL scandal. Here is my two cents on Cendant. Management continues to claim that $1.50/EPS will be met next year. The debt level is a little too high for me, but management states they will continue to reduce debt levels. I haven't covered this stock closely, but I am told there is a preferred/convert (?) that puts in a near-term cap at the $20 level. For me there are just too many moving parts, a management team that loves acquisitions & says they will now focus upon debt reduction, and a capital structure that is a little too complicated for my investment dollars. (Cendant's debt doesn't have any covenants and is investment grade -- but I still resist the capital structure in its current form.)