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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (1549)	4/12/1999 3:34:00 PM
From: Freedom Fighter	Read Replies (2) \| Respond to of 1722

Sbarro Update I spoke to the company today. They are talking to the SEC, finalizing some questions and issues. These final issues should be hammered out within days. The voting should proceed in the weeks to follow, followed by a bond issue assuming approval. The whole process should put the closing sometime in June give or take. Wayne

To: Freedom Fighter who wrote (1549)	4/30/1999 6:02:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Meet Professor Franco Modigliani, Economics Nobel Laureate Professor Modigliani will be present as a guest at a panel discussion on Wednesday, May 12, 1999, 5:30pm at: New York University Casa Italiana Zerilli-Marimò 24 West 12th Street (between 5th and 5th Avenues) New York, NY (212) 998-8738 Modigliani received the Nobel Prize in Economics in 1985 for, among other things, presenting modern value investing theory as a formal category of economic science. See "The Modigliani-Miller Theorems", at: de.nobel.se

To: Freedom Fighter who wrote (1549)	5/14/1999 8:51:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Accounting Board May Delay Use of New Derivatives Rule By MELODY PETERSEN -- May 14, 1999 The nation's accounting rule makers may delay the date when companies must begin following a controversial new rule that requires them to record the value of derivatives in their financial statements. In the last month, the Financial Accounting Standards Board has received about 70 letters from public companies concerned about the derivatives rule, said Timothy Lucas, the board's research director. Many of the letters asked for a delay in the rule's effective date, he said. While some companies must begin using the rule on July 1, most businesses must begin applying it on Jan. 1, 2000. Many of the companies said in their letters that they were concerned about instituting the complex rule, which will require new computer programs, at the same time that they are working to insure that their systems will make the transition to 2000. The companies also said that a group created by the accounting standards board, known as the Derivatives Implementation Group, had not yet answered some critical questions from companies about how to apply the new rules to certain types of derivative transactions. The board is expected to vote on whether to postpone the rule on Wednesday, Lucas said. If approved, he said, the delay would most likely be a year or longer. If the board agrees to the companies' requests, it would be the second time it has delayed the derivatives rule. Many companies have lobbied against the rule, saying it is impractical. Some banking companies even took their concerns about the proposed rules to Congress, asking lawmakers to take away some of the accounting standards board's rule-making powers. Companies use derivative contracts to help manage business risks like changes in interest rates or foreign currency rates. The transactions are known as derivatives because their value is derived from an underlying asset. But the transactions are often risky bets on the future. An example of the hefty losses that can result from investing in the contracts came in September when Long-Term Capital Management, the giant hedge fund with big bets in the derivatives market, nearly collapsed. The new accounting rule, which was approved by the accounting board last June, requires companies to record the market value of the derivatives on their balance sheets and to include the gains or losses on those contracts in income. Copyright 1999 The New York Times Company