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To: Brewmeister who wrote (5829)	9/18/1998 9:54:00 AM
From: Phil Jacobson	Respond to of 7006

Nice post Dan...here's a couple of comments: - they're obviously getting squeezed for cash and the high yield debt market is the worst its been in 10 years. So acquisitions will take a back seat (would you want them using stock at this level???). What are they doing to try and get some organic growth out of the existing companies? - Glad to see continued efforts on cost cutting, that's about all they can do right now in addition to trying to grow the current units. I wouldn't necessarily call this a buying opportunity yet. There will probably be a lot of pain in the next release and the 10Q will be very interesting to look at what additional contingencies are listed (about the scrap market, their inability to acquire companies in the current financial climate, etc.) The absolute key will be that they have to show they can stabilize and even grow revenues and EBITDA without relying on acquisitions. Again, the cost cutting is critical. If the next earnings reports show a good stabilization we may see a pop. If we see they can't make it without more acquisitions we'll see another point come off easily. IMO. Phil