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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: robnhood who wrote (208659)	12/9/2002 10:37:11 PM
From: Earlie	Read Replies (1) \| Respond to of 436258

RR: He's been lurking. (g) IBM's latest moves look worse than panic-driven clumsiness to me. Buying Rational for a huge premium (especially after having been so royally screwed in the PW purchase) is nutso. Mind you, it maintains the tradition, as IBM hasn't made a winning software purchase yet. "Buying revenue stream" is a time-honoured carnie act, but paying through the nose (and with cash) is just insane. I do like the nifty open field foot work on the pension issue, especially their timing. Thank goodness few investors pay any attention to balance sheets hence they won't see the dilution going on under the blankets. Now when do they sell the next big asset to whiffle the SG and A line into proper alignment? (g) It sure delighted me to see the "downgrade" this morning. (recall that I suggested that a few downgrades were coming a few weeks ago). We will see more of them over the next few weeks. Winter does nasty things to even the greatest emperor's new clothes. Best, Earlie