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To: Chuzzlewit who wrote (83860)12/5/1998 3:40:00 PM
From: jim kelley  Read Replies (2) | Respond to of 176387
 
CTC,

Eventually, the company will have to pay back any debt that it incurs for a stock repurchase out of earning's unless they are getting free money from Daddy Warbucks.

What would DELL's earnings have been if they had not bought back
their own stock? What would it have been if they had not sold puts?
These are interesting questions that have not been addressed.

Regards,

Jim Kelley