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To: W. Luther who wrote (11817)	7/7/1998 9:30:00 AM
From: braveman	Read Replies (1) \| Respond to of 27307

Luther: Rather than sell your position and incur a short term capital gains tax (2,000 shares * $150 profit/share * 40% tax rate = $120,000 tax bill), why don't you use an equity collar program to get long term capital gains tax treatment and save yourself money from lower taxes (2,000 shares * $150 profit/share * 20% tax rate = $$60,000 tax bill). In addition, these programs provide you with cash upfront (at least $320,000). You can get them through your broker. The least costly program I have found is offered through tyillc@mediaone.net. Braveman