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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: John Dally who wrote (24727)	11/24/1997 5:24:00 PM
From: Earlie	Respond to of 132070

John: Thanks for the reference. As you noted, the burgeoning debt is a serious problem at IBM, and their beloved leader is responsible for it. Borrow tons of dough then use it not for the business plan, but throw it into the market to keep the price up. Used to be that a good CEO thought of buying back stock when the market hated it and it was cheap. Today, they bleed their companies into the ground in the name of "maximizing shareholder value" What a joke. Tonight the Japanese get a chance to vote with their feet with respect to the truly staggering revelations now starting to trickle out of that nation's stock market and financial network. Love those off-shore, off-balance-sheet, undisclosed liabilities. Our turn is not far off. The bond market should be monitored rather closely as the first signs of trouble will show up there. Offshore selling of those tons of U.S. treasuries has already begun, even as U.S. officials run around trying to freeze that debt in place in return for IMF assistance. What a neat and effective way of telling the world that those treasuries are not very liquid at all (i.e. no big buyers, all sellers). Any investor who can't feel the heat from this spreading meltdown deserves what he gets. Best, Earlie