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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (36579)	2/3/2010 12:14:08 PM
From: E_K_S	Read Replies (2) \| Respond to of 78673

Hi Grommit - Peeled off a few shares of SHAW and added CHGO BRIDGE & IRON (NYSE: CBI). CBI is a better play in the LNG construction and technology ( cbi.com ). CBI is under contract with AES to design and complete the Dominon Cove Point LNG Terminal Expansion located near Lusby, Maryland. Check out all the LNG projects under development and/or completed by CBI. ( google.com ) CBI has under performed both FLR and SHAW and sells at a slightly lower PE. I basically re-balanced my infrastructure holdings to represent 3% of the portfolio (weighted according to company market cap.). finance.yahoo.com Chart of 5 yr relative price performance. finance.yahoo.com EKS

To: Grommit who wrote (36579)	2/16/2010 12:46:30 PM
From: E_K_S	Read Replies (1) \| Respond to of 78673

Westinghouse Statement Regarding Issuance of Conditional Loan Guarantees for New Nuclear Construction finance.yahoo.com From the article:"...Westinghouse and its consortium team member The Shaw Group (NYSE:SHAW - News), are under contract to provide two of Westinghouse AP1000â?¢ nuclear power plants at Southern's Vogtle site in Georgia.Â The consortium is also building four AP1000sâ?¢ in China and has been selected to provide no less than 12 additional AP1000s elsewhere in the United States....". ================================================================= The nuclear component for Shaw is small but growing. Shaw also makes money on the reoccurring service business from the new Nuclear facilities. The real value (if you are betting on a stronger $US dollar) is their $1.5B assumed loan from Toshiba (from the purchase of Westinghouse) which is pegged in Yen/$U.S.. As the $US dollar gets stronger, this debt is worth less on their balance sheet and the company's net worth increase. EKS