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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (58492)	5/4/1999 2:04:00 PM
From: RealMuLan	Read Replies (1) \| Respond to of 132070

Mike: that was really good old days. Now companies are so lean and mean. Look at IBM, older employees really get a short end of sticks. Thanks. Best.

To: Knighty Tin who wrote (58492)	5/4/1999 2:10:00 PM
From: wlheatmoon	Read Replies (2) \| Respond to of 132070

Michael, An option question..... CNTO is around 48 now.....takeover speculated with unknown premium.....guesses range from current price up to 60 or so. If I sold jan 2001 50 calls for about 9 3/8, I lock in a sizeable gain....now what if the takeover is for 50 dollars, will that make the jan 2001 50 calls worth basically nothing? What if the takeover price is for $60, how would one calculate what the calls are worth, then.... seems like a strange scenario,,, I think CNTO is worth $60 to be taken over and I'm happy to sell those calls, but I wonder what would actually happen if there is a takeover or takeunder? Thanks. mike

To: Knighty Tin who wrote (58492)	5/4/1999 2:26:00 PM
From: Stefan	Read Replies (2) \| Respond to of 132070

Mike I bought NSM the talk is that IBM will buy Cyrix division for about $2 billion. From what I hear that deal is a done thing and should conclude soon. FNM is doing nicely today.<G>

To: Knighty Tin who wrote (58492)	5/4/1999 3:14:00 PM
From: Freedom Fighter	Read Replies (3) \| Respond to of 132070

Mike, >>Actually, back in the good old days, most cos. had defined benefits<< I've been wondering about the shift from defined benefit pensions to employee controlled retirement benefits for awhile now. Do you think it's possible that corporate America realizes that the U.S. is one big financial asset bubble and that's one reason for the shift? Perhaps many managements realize that the only reason their pensions are fully funded is because of the bubble. And when it bursts there is no way they will ever be able make good on their promises given current return assumptions (without enormous future contributions that will hit the bottom line). By changing the type of benefit they are removing the liability from themselves and passing it on to the fully invested poor folk who will need the money and not be able to make it! Wayne