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To: Dale Baker who wrote (4434)	4/17/1999 6:26:00 AM
From: Dale Baker	Read Replies (2) \| Respond to of 118717

WMB - I have been out of WMB for much too long. Missed a nice ten-point runup in anticipation of their communications group filing its IPO ( sec.gov. I could go for the common at $44 right now, but I decided to opt for the January 2001 40 calls instead at $13. I think WMB will hit 90 or better by 1/01; that's a four-bagger on the calls instead of just a double in the common and my upfront cost is only 30% of what I would have invested otherwise. WMB is a great company in gas pipelines and communications. This also gets me back in the energy sector. If WMB has a big runup when WCG IPO's, I might - you guessed it - think about selling half and holding the rest. Much too early to tell, however.

To: Dale Baker who wrote (4434)	4/17/1999 9:49:00 AM
From: jgideon	Read Replies (1) \| Respond to of 118717

Actually, Dale, that's $600,000 of Halpin's money into CPU stock. 100,000 shares at $6. Looking over the last year, I see Halpin buying 300,000 shares at an average cost of $11.86 per share. So, at today's closing price of 5 15/16, he is out somewhere around $1.77 million dollars on these purchases. Probably doesn't make shareholders feel better about their losses, but it makes you believe he has a vested interest in share price recovery. I did not get out at my break even point on the last pop and still hold some CPU. jg