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Technology Stocks : VIAB (Viacom Class B shares) formerly CBS -- Ignore unavailable to you. Want to Upgrade?

To: MGV who wrote (2502)	9/11/1998 6:36:00 AM
From: John M Connolly	Respond to of 4613

All: I have a question, lets assume that the share buyback has not kicked in yet - so there are about 700 million shares , at the current price the market cap of CBS is about $17B. Now if the $3B buyback were to kick in they would be reducing the number of shares by about 18% or about 100+ million shares. There is no reason for CBS not to be in there buying every share it can get its hands on at this price. The question is now - why are our shares falling - should our company be supporting our share price with the approved share buyback plan. Now, however remember that Jordan and Reynolds are the ones leading this company. While in the past I have supported Jordan - when he could not get the earnings right 2 weeks before their release and was off by 50% - I wonder if he is really in touch with what is going on. Is there any input on this subject. John