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Non-Tech : Tyco International Limited (TYC) -- Ignore unavailable to you. Want to Upgrade?

To: JDN who wrote (3710)	1/17/2006 2:02:13 PM
From: deeno	Read Replies (1) \| Respond to of 3770

I guess it depends on whether the breakup is coming from strength (the parts are worth more then the whole) or weakness (we arent getting ahead and wall street is pissed we need to do SOMETHING). Your $2 guess for earnings has been the guess for this company since Breen took over and they have yet to come close. Free cash seems to flow like water but it desnt seem to manifest itself in returns for shareholders. The earnings warning seems to indicate the later of my 2 breakup choices. Since everyone is trying to value the peices, the leverage of the healthcare (where everyone beleives the growth will come from, including me) the slowdown has made ALL the pieces suspect. A continuing weakening will manifest in even lower sum of the parts valuation and then remeber what they did last time? "oh well, it doesnt look like its going to increase shareholder value so let just forget about it" 1 year and 1 billion dollars is alot of time and money to wait. For those ok with paint drying for a reasonalbe return, I think in the end you'll be right 2 or 3 years from now.