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To: Bryan Steffen who wrote (13471)	1/29/1998 7:35:00 PM
From: TideGlider	Respond to of 25960

They did not say that they would use all of the repurchase for the employee program. They decided to buy the stock back rather than the bonds. Looks like they are pissed at Joe Short themselves. TG

To: Bryan Steffen who wrote (13471)	1/29/1998 9:38:00 PM
From: Craig Schilling	Read Replies (1) \| Respond to of 25960

Good call Bryan it amazes me how many people don't realize that stock repurchase plans are bogus in the long run because they all go to the employee stock option plans. I think individuals are slowly catching on to the split and buy back game companies have been playing over the last 3 years and that these games do nothing for the stock in the long run except for a few outstanding companies like MSFT and INTC. However, this will provide stability and limited downside risk in the stock over the next 6 months. Craig

To: Bryan Steffen who wrote (13471)	1/30/1998 12:57:00 AM
From: Wayne	Read Replies (1) \| Respond to of 25960

The flip side of that argument is that they were going to be issuing shares for employee compensation anyway. If they end up even in a year it really is a net reduction in shares. >>I've got one comment about the stock repurchase that people have failed to notice. Apparently the $50 million in stock repurchases are going to used for employee stock option plans. That means within a 6 - 12 month time frame the effect of this anouncement is nothing. They will have SPENT this money for employee compensation/benefits. Sure it will produce some short term price stability or boost, but I bet that 12 months from now, that you have the same or more shares outstanding than you do today.<<