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Non-Tech : RECY Looking Good... A -- Ignore unavailable to you. Want to Upgrade?

To: James Strauss who wrote (4242)	3/4/1998 3:29:00 PM
From: Bankceo	Read Replies (1) \| Respond to of 7006

I think we need more information. I have a concern that they are not focused on the cost savings. At the conference call, I suggested that they establish a target, and they indicated they didnt have one. They indicated that they expected a 2% margin improvement on the acquistions with a plethora of possibilities as to how they will do it. They need to show that they are doing it. If not, then they are simply accumulating companies at a premium with such premium on the books as goodwill--a non-performing asset. I think they are focused on making the $bill revenue target, which in itself is a great accomplishment. But the debt will choke them unless they start showing margin improvement soon.