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Non-Tech : Simula (SMU) -- Ignore unavailable to you. Want to Upgrade?

To: Jaime H. Ayalde who wrote (1347)	8/31/1998 11:03:00 PM
From: JB	Respond to of 1671

"I have a weird feeling something else is up".............. Like what Jaime? That the stock might hit 5? Anyway, it's going to take a while before you see SMU at 16 again. Maybe two years or more ! JB

To: Jaime H. Ayalde who wrote (1347)	8/31/1998 11:43:00 PM
From: Noblesse Oblige	Respond to of 1671

Hi Jaime... The market is the market, and undoubtedly there were forced liquidations today, not only in Simula, but across the board. I really don't think Simula is all that unusual, and I am not expecting any earnings surprise during the current quarter. The company is planning to boost 16G production shortly, and what this suggests to me is that the "ramp" is better controlled this time. There are no problems in ITS, and any residual "complexity" because of the rail seating business is now off the income statement. As I have noted before, a sale of that business reduces interest expense and thus increases net per share. My own view is that the ITS business is worth substantially more as a standalone than the entire company is now capitalized at. In markets like this, no one knows what can happen. My hope is that Simula will have some Delphi related agreements in the next couple of months, as it is ITS that I bought this stock to own. Right now, given the market backdrop, it can't happen fast enough. Have a good evening.