To: mmmary who wrote (10796 ) 12/4/2002 8:43:16 PM From: Sir Auric Goldfinger Respond to of 19428 Wonder if HDI has any of these: "Disney Faces Writedown From Possible United Airlines Bankruptcy 2002-12-04 20:29 (New York) Disney Faces Writedown From Possible United Airlines Bankruptcy Burbank, California, Dec. 4 (Bloomberg) -- Walt Disney Co. said a possible bankruptcy of United Airlines owner UAL Corp. might lead to writing down its $114 million leveraged investment in the carrier's aircraft leases. United Airlines failed to win approval today for a $1.8 billion U.S. loan guarantee designed to keep the company out of bankruptcy. UAL has said that without the loan it may file for Chapter 11 bankruptcy protection. Disney, the second-largest U.S. media company, said in a regulatory filing today that its investment portfolio includes $289 million of ``commercial aircraft leveraged leasing investments'' made between 1992 and 1994. United Airlines leases made up $114 million of the total, with the rest from Delta Air Lines Inc. and FedEx Corp. Burbank, California-based Disney said all payments on the leases have been made when due. The failure of any of the companies to make their lease payments or the termination of Disney's leases through a bankruptcy proceeding could result in ``material charges'' and might accelerate income tax payments, according to the filing. Disney spokesman John Spelich didn't immediately return a call seeking comment. Shares of Disney fell 86 cents to $17.68 in New York Stock Exchange composite trading. They've dropped 15 percent this year. --Kim Chipman in New York (212) 940-1968, or kchipman@bloomberg.net, with reporting by Lynne Marek in Chicago, through the San Francisco newsroom (415) 912-2980. Editor: West. Story illustration: For a financial analysis of Disney, see {DIS US <Equity> FA <GO>}. For a scrolling series of functions on Disney, see {DIS US <Equity> CNP 07313060111 <GO>}.