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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: Rational who wrote (1594)	11/14/1997 11:08:00 AM
From: Shane Stump	Read Replies (2) \| Respond to of 2544

What do you think of the forward looking statement portion of the CTYS earnings release? I read it and read it... I decided to stay out of it this morning ... I should have known... Company posts $95M loss and the street bids it up! It is going to be interesting to see where it ends up at the end of day after all the initial enthusiasm wears off! Shane

To: Rational who wrote (1594)	11/14/1997 11:21:00 AM
From: Brooks Jackson	Read Replies (1) \| Respond to of 2544

Delinquency seem to be getting worse in U.K., but better in U.S. Today's release shows over-90-day delinquencies were 10.4% in U.K. last quarter vs. 8.1% at the end of '96. But U.S. over-90 delinquencies were 0.8% last quarter vs. 1.7% Even so, it looks as though the big write-offs were on the U.S. portfolio, which makes me think that while we were transfixed by the "U.K. problem" the real troubles were here at home, and in the squirrely, over-leveraged financial structure of CTYS. And despite the company's talk about how swimmingly their U.K. business is going, these delinquency rates make me worry that the REAL "U.K. problem" has yet to make itself felt. A lot of the optimism on this thread (when CTYS was over $10) was based on the idea that their delinquency rates would be improving. Just my initial reaction to reading the release. (Didn't listen in on the call). I'll watch for other reactions. Brooks Jackson (a busted long hoping the pain will ease).