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To: Bridge Player who wrote (16815)	4/11/2003 10:19:18 PM
From: jeffbas	Respond to of 78615

On ALU, it was warned of here, #16679. My guess is that the shareholders will end up with nothing, unless some insurance money is paid. That is unpredictable. If you own it, I'd hold it, as you would get a lot more than 17 cents if a reasonable amount of insurance is paid. In addition, if the insurance companies were obligated by contract terms to pay something (even in the case of arson) and refused to do so, they might now be additionally liable for causing irreparable damage to the company. However, if I did not own it I would not buy it. I never like investments where the main investment factor (amount of insurance proceeds, if any) is unknowable.

To: Bridge Player who wrote (16815)	4/14/2003 9:21:38 AM
From: Sergio H	Read Replies (2) \| Respond to of 78615

BP, My thoughts on ALU are that there's info missing. The creditors are forcing ALU into bankruptcy yet they're co-plaintiff's in the law suit against the insurance companies. The creditors must be of the opinion that bankruptcy is better avenue as they seem to be abandoning ship. Their claim that ALU misrepresented assets goes hand in hand with the lack of warning from ALU that the company would be in default on their loans just a few weeks after stating that financing arrangements had been made. For me, this was an asset play with the insurance issue being an instrument to release the hidden value. If the creditor's claim is correct, then there's likely to be no hidden value. If there's truth to the claim of misrepresented assets then the shareholders are screwed. A press release from the turnaround firm hired by ALU is expected soon.