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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Wright Sullivan who wrote (6143)	3/1/1999 2:09:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78470

Speaking of long-ago discussed value stocks, anyone still holding HYDE aka SCNYA and SCNYB? Pretty impressive announcements today: biz.yahoo.com And the stock price is moving. Possibly, finally, this chronic net net is making a move to credibility? Mike

To: Wright Sullivan who wrote (6143)	3/1/1999 6:31:00 PM
From: James Clarke	Respond to of 78470

Go Joe. I sold mine in the 30s but I've still got my mother and some friends in it. This big announcement came after the bell. If this doesn't move the stock, I don't know what it will take. My question is this - what will they do with the more than half a billion of after tax proceeds they will take out of this, and is there anything they can do to mitigate the tax hit? Remember taxes. When we were valuing this land at $1000 or $1500 an acre or whatever, we weren't taking into account that 39% (?) of that goes to the Feds if it is liquidated. My fear is that Rummell is going to hoard cash and then do a big dumb acquisition. (Imagine that, Clarkejj making the bear case on St. Joe. My we have come full circle, haven't we?) JJC