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To: raefon who wrote (1139)3/25/1998 12:35:00 PM
From: Noblesse Oblige  Read Replies (2) | Respond to of 3247
 
Hi Raefon,

You have noted and asked:

"The annual did suggest that the company would have some benefit as a result in the decline of the Peso... Noblesse, didn't management take a pot shot at you in the third quarter call, suggesting the benefit of the Peso was minimal, and not a factor to be considered in the business? Now it is highlighted in the letter to shareholders in the annual report....hmmm"

Yes, now that you mention it, Mr. Buchanan did take great pains to discredit my "analysis" on one of his conference calls. This change of "heart" is roughly the equivalent now of:

The President intimating in a deposition that he "knew" Gennifer Flowers, ditto for his "not inhaling," and equally so with "Gee, I guess I did get a draft notice, didn't I?"

Anyway, the political humor aside, I am gladdened that Mr. Buchanan now understands the benefit he (and we, of course) is getting from the weakness in the Philippine peso. Better late than never. Maybe with the newly found knowledge, the company will be able to meet one of its important goals for 1998....lowering the cost of raw materials/labor in the production of its products.

Have a good day, Mr. Raefon. And, thanks for the memories. <G>