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To: reaper who wrote (66363)	2/13/2003 7:39:03 PM
From: The Freep	Respond to of 209892

Is this like a super-duper-auto-short-rule-trigger? 19:20 ET Universal Health CFO steps aside after discussion with auditor (UHS) 41.95 -0.78: Co reports Q4 net of $0.67 a share (ex-items), $0.01 better than the Multex consensus. In addition, UHS announces that CFO Kirk Gorman has been replaced. According to co, auditor KPMG felt it "could no longer rely on the representations made by Mr. Gorman as the CFO of the Company." UHS says no issues have been raised regarding the integrity of the co's financial statements. I guess not, if you believe that last statement. Heck, maybe this is reason to go long the company for listening to their accountants? the freep

To: reaper who wrote (66363)	2/13/2003 8:32:41 PM
From: Moominoid	Read Replies (1) \| Respond to of 209892

I like EBITDA divided by assets as a measure of overall rate of return not dependent on leverage etc. But of course it doesn't make any sense as an actual valuation metric. Somebody was telling me the other day that Amazon was worth its price based on the free cash flow figures that management now favors as their "earnings" figure. As far as I can tell what Amazon calls free cash flow is pretty close to EBITDA. They should be sued for misreprensentation :) moom