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To: H James Morris who wrote (17107)	9/14/1998 10:59:00 AM
From: Glenn D. Rudolph	Respond to of 164684

<As information about Time Warner's retailing ambitions have trickled out, Morgan Stanley Dean Witter & Co. analyst Richard Bilotti added $4.4 billion to his Time Warner valuation based solely on the anticipated benefits of Internet retailing.> This time its Bilotti, not Meeker. Can you believe this? He's adding $4.4 billion solely on Internet retailing. Morgan Stanley are sure betting a lot of other peoples money on e-commerce. I wonder how many shares of Time Warner they moved into their inventory today? James, I overlooked that part. Thank you for pointing it out. Enjoy the golf. Glenn