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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (33929)	5/19/2003 4:37:14 AM
From: KyrosL	Read Replies (1) \| Respond to of 74559

OT ILA will probably survive, and as a regulated utility, it has better long term viability, if it survives the next few months. I am holding its bonds (ILD), and have done well with them. However, I don't think ILA common is a bargain at current levels. The CEO indicated that he expects more losses well into 2004, so who knows where book value will end up -- of course, with the market bidding up trash to the sky again, that doesn't mean ILA is not going to do well. The English assets are going to bring zero (0) cash, if sold, since the prospective sale price will barely cover the debt -- ILA already wrote off the entire purchase price for it. It's the sale of the Canadian assets that will bring in some more money and probably buy survival for ILA -- largely because of CD dollar appreciation.