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Non-Tech : Gehl Company -- Ignore unavailable to you. Want to Upgrade?

To: Michael Bakunin who wrote (61)	8/5/1998 2:08:00 PM
From: Marz	Read Replies (1) \| Respond to of 97

It is concerning that the big boys have been beaten up so much in this industry. Once again, maybe GEHL just happens to be in the right place (mostly North America) doing the right thing (expanding in construction) at the right time. The following is from CSE's most recent quarter press release: "Sales of agricultural equipment have been strong in North America and Latin America, although weakness continues in the Asia Pacific region and parts of Europe." "The worldwide construction equipment market is led by excellent demand in North America as a result of continued strong housing starts and a favorable interest rate environment." It appears that weakness overseas is also contributing to CSE's poor stock performance. Perhaps being substantially smaller, GEHL has been able to shift focus quicker than the big boys (i.e. mustang acquisition) and therefore can offer potential for a higher rate of growth. This could justify a higher relative PE. I also continue to wonder about the intentions of Dahl and perhaps some of the other large institutional holders. I wonder if anyone would potentially be interested in acquiring GEHL. Given their relative small size, they could be an attractive takeover candidate if they continue to achieve good results in the construction segment. This potential could also justify a higher PE. Well so far, todays action is back to the usual boring stuff, just a couple of small trades. Whoever is accumulating this thing has got a lot of patience. I guess they know it's not going anywhere real fast.