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

To: reaper who wrote (231217)	3/26/2003 10:26:48 AM
From: Perspective	Read Replies (2) \| Respond to of 436258

Back-to-back reaperifick barfing.com quotables: Let's see, 5% vs. 120% receivables; that's a 20-fold difference of opinion? LOL! 9:37AM Sears, Roebuck plan questioned by Legg Mason (S) 23.55 +2.10: -- Update -- Legg Mason views Sears plan to sell credit card biz as a move of desperation as it is seeing very disturbing asset quality trends. Does not believe there is any way co will get a 20% premium. At best, believes it is worth 5% of receivables. Notes there is risk the portfolio is worthless, and no premium will get paid at all. In fact, believes that a deal could not get done at all. Also thinks Sears may seriously hurt sales in the future if it cannot offer credit to many of its customers. 9:36AM MBNA Corp estimate cut at Legg Mason (KRB) 15.73 +0.09: Legg Mason cuts their 2003 est to $1.55 from $1.65 (consensus $1.62) due to recent worse-than-expected asset quality trends; furthermore, while KRB has also forecast losses to continue to trend generally downward throughout the remainder of the year, firm is increasingly skeptical due to higher delinquency rates, increasing charge-off potential, and the unstable political environment. BC