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Non-Tech : BMC Industries -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (312)	5/20/1998 12:11:00 PM
From: bananawind	Read Replies (1) \| Respond to of 359

Mike. I have been following for a while and am considering a position. Are you at all concerned BMC might do an equity offering to bring the debt level down? So far they have passed all my tests, but the leverage concerns me. Having paid almost three times sales for Orcolite, its hard to see this being accretive to earnings any time soon, even if they can get by on all debt. That is, unless Orcolite has margins a lot higher than BMC's other combined operations. -JLF