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To: F. Lynn who wrote (7241)	10/29/1997 9:11:00 PM
From: TideGlider	Read Replies (1) \| Respond to of 25960

When a company's stock price is undervalued to a greater degree than the same companies growth in near term, it is an advantage to invest in the undervalued paper and later apply it to capital demand. Bruce....just a dumb farmboy's opinion...

To: F. Lynn who wrote (7241)	10/29/1997 10:36:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 25960

Nathan I agree with you. I went to your post thinking you had put IBM up as an role-model in favor of stock buyback, didn't really read it until the second edit. Always when there is a low stock price we get advocates to buy stock back or, in more distressing cases, for a takeover. With something to invest for I don't see any reason to "protect" the share price with buybacks. If the current financials (as distinct from the future financials) warrant it then it may be appropriate - otherwise the company is speculating. That is the task of the shareholder. Greg