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Non-Tech : SPIN-OFFS "secret hiding places of stock market profits" -- Ignore unavailable to you. Want to Upgrade?

To: Stewart Whitman who wrote (816)	9/27/2005 8:01:22 PM
From: JimLudlow	Respond to of 1185

Thanks Stew. I agree. Management already has its options and they want to prevent a big price decline upon the spin off, hence the roadshow. It's almost to the levels of an IPO. I neglected to include the news release earlier. Here's a copy. NEW YORK, Sept 26 (Reuters) - Stock market newcomer Ameriprise Financial Inc. (AMP) will replace Providian Financial Corp. (PVN) in the S&P 500 Index after trading closes on Friday, Standard & Poor's said on Monday. Ameriprise, which has about 12,000 brokers and was once known as American Express Financial Advisors, is being spun off by credit card and travel services company American Express Co. (AXP) with the deal to take effect on Friday. Providian, a credit card company, is being bought by Washington Mutual Inc. (WM) in a $6.45 billion deal that was first announced in early June.