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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (2992)	9/16/1998 2:18:00 PM
From: Gordon A. Langston	Read Replies (1) \| Respond to of 18998

FP in the news Article in Orange County Register 9/16/98 ocregister.com Gordon Langston

To: Peter V who wrote (2992)	9/16/1998 7:38:00 PM
From: Mr. Pink	Read Replies (2) \| Respond to of 18998

FP rating reiterated T4/flies and worms. Price 17 13/16 FP has attempted to intimidate Mr. Pink into disappearing. But all who know and love Him know that He can not be threatened or silenced from voicing His opinion. (And of course everything said here and elsewhere by Mr. Pink is strictly His opinion and is not intended to express an actual investment recommendation.) Today's stock action as a result of management's attempt to manipulate its stock by leaking the names of potential buyers to the street demonstates how DESPERATE they are. The company NEEDS TO A DEAL BY MONTH END or face either a liquidity crisis or a major earnings disappointment. In either case the stock will be under some serious pressure. (in Mr. Pink's humble opinion) The liquidity crisis is severe.(Mr. Pink believes, although he has not had an opportunity to review internal documents so such expression is obviously His opinion and may be wrong) They have insufficient capital to do a securitization. (See above disclaimer) (another 600 mm securitization would require FP to write a check for 10% of the total amount. Plus they will have to buy back the B piece like they did in their last deal for another 15mm bucks). Read Pimpguts posts on Yahoo for further support of Mr. pink's position. This one reminds Mr. Pink of the Triton Oil sale where numerous buyers were rumored to be ready to pay into the 30s. It now trades at 11 bucks. Mr. Pink tried to short a bit more today but couldn't get an uptick at the 18 level in the afternoon. Obviously, (In Mr. pink's humble opinion) good 'ol boy Daniel Phillips is like the high stakes poker player (or is that a pimpguts player) whose steely gaze and cool demeanor is belied by a bead of sweat running down his cheek (not to mention the wet spot under his seat). Mr. Pink would be pissing in His pants if He had to rely on the likes of GE capital, one of the stingiest buyers in corporate america to bai His ass out. The other rumored buyers are unlikely to pay a premium for their toxic waste heap of a balance sheet. Yup Mr. Pink is cool as a cucumber, with the usual ice water running throught His veins. Mr. Pink sleeps like a baby with His short position. How does Dan Phillips sleep? Probably not too well. Mr. Pink