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To: Lizzie Tudor who wrote (173422)	3/10/2003 11:37:50 PM
From: hueyone	Read Replies (1) \| Respond to of 186894

scoops up the remains when these companies are operationally mismanaged. He cleans up messed up companies, mostly by way of the balance sheet Buffet mostly looks for well managed companies with competent, ethical managers that he respects, admires and aims to retain. He has bought a number of privately held companies in their entirety that have these characteristics. He is not really the pick up the cigar butt type of guy looking to see if he can get one more good puff. Regards, Huey

To: Lizzie Tudor who wrote (173422)	3/10/2003 11:42:17 PM
From: hueyone	Read Replies (2) \| Respond to of 186894

From a public policy point of view, the most important issue with regard to stock options is not whether they are good or bad, or even who gets them, but the lack of accounting for them on the income statements, imo. Free market forces will ultimately determine the "who" and "how many" with regard to stock options, but we must have accounting for them if they are going to be used responsibly with any rhyme or reason. Regards, Huey