Go to Jeff Salisbury LWGate Home Page.From: Joe Maguire <firedudejoe@earthlink.net>
Subject: Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100
Date: Wed, 16 Jan 2002 15:11:56 -0800
Previous Article (by Date): Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
Top of Thread: Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
Articles sorted by: [Date]
[Author]
[Subject]
- --------------2945CD134A8A70A3A9CA57C9 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Katherine... O boy what interview with non- ceo/cfo,s onDYII Maybe they were short. Classic. Thx for info. Best Joe M Katherine Malm wrote: > [Image] > > Herb on TheStreet > Dynacq's Doubtful Accounts Send Distress Signals > By Herb Greenberg > Senior Columnist > > 01/16/2002 02:46 PM EST > URL: > http://www.thestreet.com/p/rmoney/herbonthestreet-rm/10006859.html > > When it comes to red flags, so many are flying over Dynacq > International (DYII:Nasdaq - news - commentary) that it's hard to > count. Dynacq owns and manages an acute care hospital in Pasadena, > Texas, where it manages three physician practices. It also operates > two outpatient surgical facilities and a medical office complex. > The only analyst covering the company, Gary Weber of Taglich Brothers, > rates it a buy. That Dynacq pays Taglich for that coverage is reason > enough to warrant caution: The disclosure is right there in the fine > print of the analyst's report. > But in recent quarters there have been numerous other issues that, by > themselves, would warrant a mention here. For example, Dynacq's > allowance for doubtful accounts -- something every CFO should know > like the back of his or her hand -- has been hovering around the 1% > range, which is far below the level used by such rivals as HCA > (HCA:NYSE - news - commentary) , Tenet (THC:NYSE - news - commentary) > and Universal (UHS:NYSE - news - commentary) . Yet when asked about > the amount of the allowance on the company's bizarre conference call > Tuesday, CFO Philip Chan couldn't answer the question. > The dialogue is worth the price of admission. > > Caller: Could you give us where allowance for doubtful > accounts stands right now, please? > CFO: Are you asking the provision for uncollectable accounts > of $41,673 on the income statement? Or are you talking > about... > Caller: I'm talking about the reserve -- the allowance for > doubtful accounts that would be against your gross > receivables so that you have -- you report net accounts > receivable. What is your allowance for doubtful accounts? > What's your reserve that's been built up over time? > CFO: The way we present our [unintelligible] and net revenue > and that is the gross revenue minus, I believe, what you are > talking about the reserve for uncollectible portion from > insurance company or third party. > Caller: Uh, either one. Let me, maybe if I can contrast it > where it was in the 10-K. ... Anyway, it's a standard > nomenclature. It's called allowance for doubtful accounts. > ... It was $193,000 in August. Do you know what it is now, > please? > CFO: Let me turn my page on the same page that you are > saying ... a minute. > Caller: All right, let me -- maybe I can go on while he's > searching that. If I could ask another question here... > > And so it was! The entire call was pretty much like that. > Take the same caller's question about the company's revenue per > hospital bed, which appears to be much higher than the average for the > acute care hospital industry. > > Caller: You have 37 beds and in the hospital you had > revenues in here of just under $9 million, and that equates > somewhere to about a quarter-million dollars revenue per > bed. That is substantially higher than industry averages. > Why is that? > CEO Chiu Chan (who, according to the 10-K is not related to > the CFO): We are not general acute hospital. We are surgical > hospital. > > Not an acute care hospital?! The company itself says in its 10-K, > filed Nov. 27, that it is engaged in "the ownership and management of > an acute care hospital." > The caller continues, saying that revenue at Dynacq's clinic and > outpatient surgical center, which had been a key driver of Dynacq's > growth, was "down about 7% year over year. At the same time, the > hospital revenues just skyrocketed here. They were up 160% or > something." > > CEO Chan: Well, as you can see, we are aligning our company > towards -- we are now saying that Dynacq is a surgical > hospital company. We are a surgical hospital company. That > is the direction which we are going. So, right now all the > focus is, the management focus is a surgical hospital > company. > > Chan later added: "The reason why we are trying to do this is because > we listen to a lot of the research analysts or those brokers about a > single focus company enhance our shareholder value a lot better than > getting more -- all this kind of other business. ... So, the other > thing which is not surgical hospital business is going to go gradually > -- scale down." > But last March Dynacq purchased a second ambulatory or outpatient > surgery center. Now it's saying that that part of the business will no > longer be a focus?! > The conference call continued. A different caller noted that the > company had "very impressive" 12% revenue growth in the fourth quarter > from the third quarter. "But it appears net income may have declined > slightly quarter to quarter. Is that the case?" > > CEO: Net income? No. I don't think so. Net income actually > go up. > Caller No. 2: I backed out that the fourth quarter net > income was about $3,490,000. ... I have this quarter at > about $3,378,000. So, maybe a 3% or so decline in net > income, and you had 12% sequential revenue growth. I'm just > curious where... > > The CEO then started talking about how earnings per share of 23 cents > were higher than the prior quarter's 22 cents, then the CFO injected: > > CFO: Your math ... could be very well correct. The thing > that may confuse a little bit during the fourth quarter is > where we have the annual audit come in and make all the > adjustments. There's no significant adjustment that we made. > You may be able to look at the income tax provision for the > fourth quarter, which kind of declined pretty significantly > from the periods before. That is the time that the auditor > come in and look our annual income tax situation. > Caller No. 2: OK ... the real question I'm driving at ... it > appears that your profit margins came down quite a bit from > quarter to quarter [net profit margin was down nearly 4 > percentage points from the fourth quarter to the first > quarter] ... and I'm just wondering if you could comment a > little bit on why the profit margins ... contracted, and > again, is this something we should expect going forward? > CEO: If you look at the number for the whole fiscal year > last year, our profit margin is ... 25.3. Therefore our net > margin is 24.7 or 24.6. So we are talking about a decimal > point percentage difference, and I don't think it's > something of anybody's concern. > > Year over year, maybe, but quarter to quarter it's nearly 4 percentage > points. That's certainly somebody's concern. But I digress, as the > call returned to the subject of the allowance for doubtful accounts. > > Caller No. 1: I wondered if you'd had a chance to find that > answer on the allowance for doubtful accounts on accounts > receivable? > CFO: I tried to find out the real question -- all on income > statement, the only provision for uncollectible account is > -- for this quarter is $41,670 ... before talk about > $137,000 -- I don't know what number you have been looking > at. > Caller No. 1: $193,000 is what it was in August. > CFO: In August $193,000? > Caller No. 1: August of '01. > CFO: Hold on. > > He never did answer the question. > Finally, back to the question of paying a brokerage firm to cover the > company, another caller said: > > Caller No. 3: I'm showing Gary Weber of Taglich Brothers is > the only analyst following the company. On the footer of > their report it says his firm was paid by Dynacq to write > it. Are there any other nonaffiliated research reports for > analyst coverage? > CEO: Taglich Brothers, yes, we paid for them for the analyst > report to be written in the beginning. Now, what we are > paying them is a quarterly fee to actually have that report > available at their Web site. So we don't pay them to write > about us anymore, and we do not have any other analysts > following this company yet. > Caller No. 3: How much do you pay them? > CFO: $1,250 a month. > > Isn't that a conflict? Not according to Bob Taglich of Taglich > Brothers. He told me: "They are independent reports. In the micro-cap > market, unless you have potential million-dollar fees coming in, it's > very difficult for a brokerage firm to cover small firms for > research." > Doesn't that mean they're buying an opinion? > "They're not buying an opinion," Taglich says. "We have some stocks > that aren't rated." He adds that there is a weeding-out process on > companies Taglich agrees to cover, and notes that whether it's hard > cash or through investment banking business, companies pay for > coverage "one way or the other ... at least we properly disclose it." > He may have a point there. Not that it's the right thing to do -- > disclosed or otherwise. > ----------------------------------------------------------------------- > Herb Greenberg writes daily for TheStreet.com. In keeping with TSC's > editorial policy, he doesn't own or short individual stocks, though he > owns stock in TheStreet.com. He also doesn't invest in hedge funds or > other private investment partnerships. He welcomes your feedback and > invites you to send any to Herb Greenberg. Greenberg also writes a > monthly column for Fortune. > Brian Harris and Mark Martinez assisted with the reporting of this > column. > ----------------------------------------------------------------------- > > ----- Original Message ----- > From: Andreas Himmelreich > To: 'canslim@lists.xmission.com' > Sent: Wednesday, January 16, 2002 3:00 PM > Subject: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 > Pretty strange what is happening with DYII. > > Stock has good fundamentals, yet its down 30%? Industry > Group kind of OK as well, even winning Relative Strength. > > Strange. > > - > -To subscribe/unsubscribe, email "majordomo@xmission.com" > -In the email body, write "subscribe canslim" or > -"unsubscribe canslim". Do not use quotes in your email. > - --------------2945CD134A8A70A3A9CA57C9 Content-Type: multipart/related; boundary="------------7C0FFF65FE06D1D0B28291B9" - --------------7C0FFF65FE06D1D0B28291B9 Content-Type: text/html; charset=us-ascii Content-Transfer-Encoding: 7bit <!doctype html public "-//w3c//dtd html 4.0 transitional//en"> <html> <body bgcolor="#FFFFFF"> Katherine... O boy what interview with non- ceo/cfo,s onDYII Maybe they were short. Classic. Thx for info. Best Joe M <p>Katherine Malm wrote: <blockquote TYPE=CITE><style></style> <script>document.write(sPrinterTextInfo)</script> <p><a href="http://www.realmoney.com/"><img SRC="cid:part1.3C4608BC.7F458651@earthlink.net" BORDER=0 height=60 width=267></a><!-- Story Body Starts Here --> <p><font face="arial, helvetica"><font color="#000000"><font size=-2>Herb on TheStreet</font></font></font> <br><b><font face="arial, helvetica"><font color="#000000"><font size=+1>Dynacq's Doubtful Accounts Send Distress Signals</font></font></font></b> <br><b><font face="arial, helvetica"><font color="#000000"><font size=+0>By <a href="mailto:hgreenberg@thestreet.com">Herb Greenberg</a></font></font></font></b> <br><b><font face="arial, helvetica"><font color="#000000"><font size=+0>Senior Columnist</font></font></font></b> <p><font face="arial, helvetica"><font color="#000000"><font size=-2>01/16/2002 02:46 PM EST</font></font></font> <br><font face="arial, helvetica"><font color="#000000"><font size=-1>URL: <a href="http://www.thestreet.com/p/rmoney/herbonthestreet-rm/10006859.html">http://www.thestreet.com/p/rmoney/herbonthestreet-rm/10006859.html</a></font></font></font> <p>When it comes to red flags, so many are flying over <b>Dynacq International</b> (DYII:Nasdaq - news - commentary) that it's hard to count. Dynacq owns and manages an acute care hospital in Pasadena, Texas, where it manages three physician practices. It also operates two outpatient surgical facilities and a medical office complex. <br>The only analyst covering the company, Gary Weber of Taglich Brothers, rates it a buy. That Dynacq pays Taglich for that coverage is reason enough to warrant caution: The disclosure is right there in the fine print of the analyst's report. <RELATED></RELATED> <br>But in recent quarters there have been numerous other issues that, by themselves, would warrant a mention here. For example, Dynacq's allowance for doubtful accounts -- something every CFO should know like the back of his or her hand -- has been hovering around the 1% range, which is <i>far</i> below the level used by such rivals as <b>HCA</b> (HCA:NYSE - news - commentary) , <b>Tenet</b> (THC:NYSE - news - commentary) and <b>Universal</b> (UHS:NYSE - - news - commentary) . Yet when asked about the amount of the allowance on the company's bizarre conference call Tuesday, CFO Philip Chan couldn't answer the question. <br>The dialogue is worth the price of admission. <blockquote><b>Caller:</b> Could you give us where allowance for doubtful accounts stands right now, please? <br><b>CFO:</b> Are you asking the provision for uncollectable accounts of $41,673 on the income statement? Or are you talking about... <br><b>Caller:</b> I'm talking about the reserve -- the allowance for doubtful accounts that would be against your gross receivables so that you have - -- you report net accounts receivable. What is your allowance for doubtful accounts? What's your reserve that's been built up over time? <br><b>CFO:</b> The way we present our [unintelligible] and net revenue and that is the gross revenue minus, I believe, what you are talking about the reserve for uncollectible portion from insurance company or third party. <br><b>Caller:</b> Uh, either one. Let me, maybe if I can contrast it where it was in the 10-K. ... Anyway, it's a standard nomenclature. It's called allowance for doubtful accounts. ... It was $193,000 in August. Do you know what it is now, please? <br><b>CFO:</b> Let me turn my page on the same page that you are saying ... a minute. <br><b>Caller:</b> All right, let me -- maybe I can go on while he's searching that. If I could ask another question here...</blockquote> And so it was! The entire call was pretty much like that. <br>Take the same caller's question about the company's revenue per hospital bed, which appears to be much higher than the average for the acute care hospital industry. <blockquote><b>Caller:</b> You have 37 beds and in the hospital you had revenues in here of just under $9 million, and that equates somewhere to about a quarter-million dollars revenue per bed. That is substantially higher than industry averages. Why is that? <br><b>CEO Chiu Chan </b>(who, according to the 10-K is <i>not</i> related to the CFO): We are not general acute hospital. We are surgical hospital.</blockquote> Not an acute care hospital?! The company itself says in its 10-K, filed Nov. 27, that it is engaged in "the ownership and management of an acute care hospital." <br>The caller continues, saying that revenue at Dynacq's clinic and outpatient surgical center, which had been a key driver of Dynacq's growth, was "down about 7% year over year. At the same time, the hospital revenues just skyrocketed here. They were up 160% or something." <blockquote><b>CEO Chan:</b> Well, as you can see, we are aligning our company towards -- we are now saying that Dynacq is a surgical hospital company. We are a surgical hospital company. That is the direction which we are going. So, right now all the focus is, the management focus is a surgical hospital company.</blockquote> Chan later added: "The reason why we are trying to do this is because we listen to a lot of the research analysts or those brokers about a single focus company enhance our shareholder value a lot better than getting more - -- all this kind of other business. ... So, the other thing which is not surgical hospital business is going to go gradually -- scale down." <br>But last March Dynacq purchased a second ambulatory or outpatient surgery center. Now it's saying that <i>that</i> part of the business will no longer be a focus?! <br>The conference call continued. A different caller noted that the company had "very impressive" 12% revenue growth in the fourth quarter from the third quarter. "But it appears net income may have declined slightly quarter to quarter. Is that the case?" <blockquote><b>CEO:</b> Net income? No. I don't think so. Net income actually go up. <br><b>Caller No. 2:</b> I backed out that the fourth quarter net income was about $3,490,000. ... I have this quarter at about $3,378,000. So, maybe a 3% or so decline in net income, and you had 12% sequential revenue growth. I'm just curious where...</blockquote> The CEO then started talking about how earnings per share of 23 cents were higher than the prior quarter's 22 cents, then the CFO injected: <blockquote><b>CFO:</b> Your math ... could be very well correct. The thing that may confuse a little bit during the fourth quarter is where we have the annual audit come in and make all the adjustments. There's no significant adjustment that we made. You may be able to look at the income tax provision for the fourth quarter, which kind of declined pretty significantly from the periods before. That is the time that the auditor come in and look our annual income tax situation. <br><b>Caller No. 2:</b> OK ... the real question I'm driving at ... it appears that your profit margins came down quite a bit from quarter to quarter [net profit margin was down nearly 4 percentage points from the fourth quarter to the first quarter] ... and I'm just wondering if you could comment a little bit on why the profit margins ... contracted, and again, is this something we should expect going forward? <br><b>CEO:</b> If you look at the number for the whole fiscal year last year, our profit margin is ... 25.3. Therefore our net margin is 24.7 or 24.6. So we are talking about a decimal point percentage difference, and I don't think it's something of anybody's concern.</blockquote> Year over year, maybe, but quarter to quarter it's nearly 4 percentage points. That's certainly somebody's concern. But I digress, as the call returned to the subject of the allowance for doubtful accounts. <blockquote><b>Caller No. 1:</b> I wondered if you'd had a chance to find that answer on the allowance for doubtful accounts on accounts receivable? <br><b>CFO:</b> I tried to find out the real question -- all on income statement, the only provision for uncollectible account is -- for this quarter is $41,670 ... before talk about $137,000 -- I don't know what number you have been looking at. <br><b>Caller No. 1:</b> $193,000 is what it was in August. <br><b>CFO:</b> In August $193,000? <br><b>Caller No. 1:</b> August of '01. <br><b>CFO:</b> Hold on.</blockquote> He never did answer the question. <br>Finally, back to the question of paying a brokerage firm to cover the company, another caller said: <blockquote><b>Caller No. 3:</b> I'm showing Gary Weber of Taglich Brothers is the only analyst following the company. On the footer of their report it says his firm was paid by Dynacq to write it. Are there any other nonaffiliated research reports for analyst coverage? <br><b>CEO:</b> Taglich Brothers, yes, we paid for them for the analyst report to be written in the beginning. Now, what we are paying them is a quarterly fee to actually have that report available at their Web site. So we don't pay them to write about us anymore, and we do not have any other analysts following this company yet. <br><b>Caller No. 3:</b> How much do you pay them? <br><b>CFO:</b> $1,250 a month.</blockquote> Isn't that a conflict? Not according to Bob Taglich of Taglich Brothers. He told me: "They are independent reports. In the micro-cap market, unless you have potential million-dollar fees coming in, it's very difficult for a brokerage firm to cover small firms for research." <br>Doesn't that mean they're buying an opinion? <br>"They're not buying an opinion," Taglich says. "We have some stocks that aren't rated." He adds that there is a weeding-out process on companies Taglich agrees to cover, and notes that whether it's hard cash or through investment banking business, companies pay for coverage "one way or the other ... at least we properly disclose it." <br>He may have a point there. Not that it's the right thing to do -- disclosed or otherwise. <hr noShade SIZE=1><i><font face="arial, helvetica, sans-serif"><font size=-1>Herb Greenberg writes daily for TheStreet.com. In keeping with TSC's editorial policy, he doesn't own or short individual stocks, though he owns stock in TheStreet.com. He also doesn't invest in hedge funds or other private investment partnerships. He welcomes your feedback and invites you to send any to <a href="mailto:hgreenberg@realmoney.com">Herb Greenberg</a>. Greenberg also writes a monthly column for Fortune.</font></font></i> <br><i><font face="arial, helvetica, sans-serif"><font size=-1>Brian Harris and Mark Martinez assisted with the reporting of this column. </font></font></i> <hr width="100%" noShade><!-- Story Body Ends Here --> <blockquote style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <div style="FONT: 10pt arial">----- Original Message -----</div> <div style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black"><b>From:</b> <a href="mailto:judgejimmy@web.de" title="judgejimmy@web.de">Andreas Himmelreich</a></div> <div style="FONT: 10pt arial"><b>To:</b> <a href="mailto:'canslim@lists.xmission.com'" title="canslim@lists.xmission.com">'canslim@lists.xmission.com'</a></div> <div style="FONT: 10pt arial"><b>Sent:</b> Wednesday, January 16, 2002 3:00 PM</div> <div style="FONT: 10pt arial"><b>Subject:</b> [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100</div> Pretty strange what is happening with DYII. <p>Stock has good fundamentals, yet its down 30%? Industry Group kind of OK as well, even winning Relative Strength. <p>Strange. <p>- <br>-To subscribe/unsubscribe, email "<a href="mailto:majordomo@xmission.com">majordomo@xmission.com</a>" <br>-In the email body, write "subscribe canslim" or <br>-"unsubscribe canslim". Do not use quotes in your email.</blockquote> </blockquote> </body> </html> - --------------7C0FFF65FE06D1D0B28291B9 Content-Type: image/gif Content-ID: <part1.3C4608BC.7F458651@earthlink.net> Content-Transfer-Encoding: base64 Content-Disposition: inline; filename="realprint.gif" R0lGODlhCwE8AMQAAOrk56hui8ehtNbW1pdRdPv5+riJoHcdStO1xOLP2Yc3X/by9G0MPdzF 0eXc4PDq7dDQ0MzMzGYAM////wAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA ACH5BAAAAAAALAAAAAALATwAAAX/4BSMZFkaQvMUU+u+cCzPdLsIiqQrr2OSBlZt5vsFBMOk cslsAprQKNQQIOiuVwYDKyEgFtIwLKHF8lwAao7bkAa210MAJa7bmQjhfR8tCLByKQ0CBHA6 AQ98UAAIPldnMW9YBHpLAAdmipqbEwIJnKA0D5iHMQikOgRgoUkPj0SoOp9NklcGrLhRCAG5 uQ9rErwxDbG3vTMAcJAwBcCpTb9cCMfUNaMO1ZzRpTK1EgeV2ck7NDmGDIlLBoY609nvLwoE 8IrbwbBYbfTjEsswOYWuCEvSrJ8hd/TeGZCAhNqCBwkQCBBAxYBFBAgSpGsFbCAzZ8bg8fMX TwICYOiU/whgcADBwYTwEnzTF+pBAwRUCChQcEBLmTgEDCQIF8OexxcFbSUcWU5CgnVKk1gR +hLmO0wKsGkqAGAQFSACEDQYe5NiFVIHDGyUYXTGAmcIi+Kcg+IJDQBmRxj4gkxZ0zaoSJrC 5IDMlbhIG3ydw3dGAcUNJyzAeZGoi8dfLTZYNaFrgs+gx3KWnKBB6KEtFvabdYeRxIli19JY MCgAVq1sO85owE62DRzsGCgIEuOGgi0H0CrIE4PpjBzTAmSJPMOKKt6HZSSwLeHnAQICwj0g hGnehAYEUMmx7CMWSwKzcBzYSf877gkPbNcPsGok6zBdYWTaaE3Q9oYCdhWlm/8MVlxhHgwA SCcHRtx1d9QCkijgyVOkMIBYZ349ZxJ+hgjmwikjYtcOMwJgJQgOOjAwUHuGzNMiFzoQdxmK 4EkETEud3ZiFAZshxeEhDejRYD809eGAA76FUcAp/OUmkAxQ6XDAfTZIpwBNU6ISkh9aNrlS KrI5JwN0LUgX44cuSEdAIiqO+MKZBCSI35LCJEBAhV38kRZGS6bkAm8MGMBZfnFoZRg5ROSg owsyxUEdFJbZEeF/LrT1QoSGHNCkC4J+mCUDWm3jzzYMcKpmDGxO4MAkMySQQ0N1xpUAJqLG 4ECHSHB1QxZyOCCEPZFF8yAaHa3yxw6ZntJqDAUs2d3/pVbJqqiCDj7gwCDpYREApy3sek9R qAgzkmwNTvtpiGvaOcGSvUbSj1a5durmUS5keUCClXYXUr9wCFPAQgeQK0IWWiXFALZtBkNg uXEgoGe2kqUlHko+1SjUxC0ICvEEwCjAwiiQvuAmA6O++o+8DdA6xq2HVnVejAO/sICYLsya ClHEPJNxFzOcqUN4Ib/ia6zUSjgqxhPs+i8M9igwh7VVzvCAFcIR4PXXXoeazklf2rviuynD Ki/JcXC6kAKs5SuZm0BWF0fPDmpHinkxfwM22CAJsfObMSyUJw2/bgk1DFAh5unWWMDZwq/d 0Wf55TslWEAl4x2XHdr9NBUX/wJZeOSApC/IfckOT5MKBwN2+Ux0DObOrtp8mF+uMal562zF yCf2E6VVa1zq6Xk/XkwpctNs7vzzzhORITCIuVxSXEl9g5ugTcotO4I01KmP7MtSunfEREOv /gKVvKUldS4lPASGXYCckJCT4rdgyDWCbNgBwKuBn7bghQmoZm0gStvLEPMsbkDuKHLr22oQ h4qGkE9vQnNT+ZRwsN5FLACZ+pQVwAe1JSGtU/tDX46IQrprQYFRTIrT59AAL7UhZnA7eAL3 YJAvMmlJcvip4OQ8+ILazaNa0IoCyr7hDlshEHE5KFu2jIbA47XAHhJ42qP4Ra2ecQ2EKpth C6znAv+mtaCDOJvXuVJXFQkCsAaoGB8RzZdBLSlsCGi0XReGh8FE8bEXDUAJp6zYgqBpSTaP IqFjkLYNfrkJgWRsgRmvGJiVeGgYVQmYBHKmsw6l44K0O9/CBDaEjDQHLV/4HRRQ1I/GZON0 ZpANIVNjCDD2jGc0cEkinlW3MJ6Nhgq8HrUOyJL6YfJzqxOaDCgXuiEqs4iiPKAC/rgeZhww ALyBWxQCGSMCFIkasMRC/vR3JQZhgTowZKJjviOZBk3TbJCs4QKXGRyIyW0B0ryjikICyjGI UpNcTBqc+DGfNULBiTHC5h/5wE1AKG+WYxTkC1rIuuJIBwnu+wa5HukOIUT/km1wop+DQCa3 8xiCk7TsDm76CU2hZdRCE9vVO4cJCCAmwQEB0ZIXjAWKBxggFkcjCkRb4JJH4AYA1kpLAgDw gK54yQZrkJHOhJSihjxAnsLUznR2YzORTjAGDRoYS+k4uwlQtDs7fYC3bgS82hlTDPgEqtU8 sdAlFMABMMJR1iCECkrQwBtZqRkXvuM1TLDsjAdMC1MRUIhaUumKj2APJsZpA3cOr6g56gEw 5gQDPFUiYKoIpZZcsABrVc5rnuOsW1YWQCYMEEfy2ItGpOAAnHgOR6qF0AG/cUJqOUNDDgAD FXG0ySJigQFhe9gjcygZYmKrABlqnVkzKwOkAuI//4YMRgLYN57b6Cyx2PJGkiJKXKMOwVyB 3cMNcsqFrs0hLKZJgAMAQF8AFCYic7ktcRERiQA4o5tz8A0zgYIEqgIifwdjRyvNGpjgGsC0 yFVUGqoQqhFcCgA84dJT/IsjORyhkDklrDkCgBt8stdvannKieVgDFARFz6tsEJAxYAX0+KI JbiTx050spOelDcO2yqcRYZMZCoIAGSUGfJ7y2UAniTHasxhBmN3bAC7HMxrVW5ukS1yhAWk YctD/lACsPWUioB5L50iBE+0AOX2nTnAZQZzZNbr5O+oRQmJs6kY8HriH/v5x8iNcjW4UhrT hBA/8l0BUtS6uBosoNDyPf/0HR49lqUy4Q8b1AQjmvznTrcXPPZrtKhHvQnrtnYPd7UtUD2d heF8k9SwjrUmYqbIXnh5zA/WL6Dn2gAAhFrWwA62Ekpr0GwUoKnfkgiX6RKWRP9a2NCOtraE MoEOyg9qzlsA+zYn7W5721c9YbM5UPrtcpsbarud4xB8yuOgcIlaDfDvTgIARD8MR3BqBk84 6DycZ5/735zArIMkTVqoFDOh9mNlciylW1JUiZWPSBDE7Qjwih/jDVp44xJg2ZIVOAJNkSBg cG0SVWE09Epn+skOwKAalX9DeRaPuSI84wRe3SecxXZT/tpCCEChINA2KdRE+pGCI61Q5kjP 1hr/bvhIbaZUARNzwOtCkthetjMLiapElmaadEU874zcvgz7wqDtsYfdKlAxWQwa6PRw9vYy bI8PHK5t3BhhC8OH7Dof7DuAATzp7w7o+8gHAAGY49EBEEj8AACw+GwlBaWn00LWDH7HARsD f0LFqmSieke9N6EAEIhABCAwANFHoO+hj0DgRW94GhSg9BB4UurfHYpMGfKOkxnv1V++2pF2 wuETWyLUzdkd6XqeCaCHgBBKH4FORQAAoH/+C0evBweovmcED0NTZ5Al2sugoVMrWhzaIKS9 dooUwwdrjDp/fA42vgXMF8LrjRX61hNh9DAg/Rgj4G8pPED/3XAF3rd2/3PXehR1SeUXfOgH Mu3Cfu2HR4oGf6KnB2oVfU/wEMHnaz3Aej1gLA/AemNnA9X2AJzhZRGoM0xFgaE3ACH4Aksy gIxTgOGzVQmILitHfO7ygHcQfzCwAKH3JKJXeKSFeqS3Ch8oejxVbQXgg0EIAezDeBDwf6c3 OYmXeGsReIqXCK8XhO/ngmJUA/7SerXzML93CAp4g+rXHQ6og0vAgzoTeqRHeKMHBsnHVHB4 Rsw3ehtxV0gIfUw4enB4V7H3AMyXDoQHJbAHBgCwgkyVhsUmAyxwKp33KEBSg1SzgDi4hmyY BG5IWivIAkz4BKW3CgvAgdWWh6cnOKK3Cksoev8DwBVMNYUtsIL4IX2zOIXR5321AA41MBFl +Eu0owzYYIkvIHwMuH6baAedaAM/eEb1NwFwWIWuWIypN4e1yH8vMIEuAHuEl3rKB3vSiH+5 WDQ20xxWIyvAQFmFVE7EeH5oCAMNmIx1sIyS0Yy3SIKjB3j0JRt8OI2liI0uoI3VtoJ/Z19P 8IMFSV8DeX3LpB6Zsg7uQC+XZXchA3w22A/HqIbyKAb0yIQNE3pqRX1sASGph48A2QICyYRR EnogM452U04w4BKh9YtPVG2qMVPtSEnv6IUauZFS0JH2GH0heZJX5IMEwny+torZGAHyZ4+k FYo9uAJOSVoskF3IRRP/+aEF1LEk6fcpOaBxv2h+Oik8meiTPymQnsiQ0Ch9n9gpygeAPSN6 JjkaaJmIQ0iIIumM7DOVGIJcT+AN36BjPnYUOHchquERRjOTxSiM8aIDxmeWNMB81BKUz8h8 A0CC1neQajkBpTcAkiGXXIGSTOl8owd9ADCFR1h4XoaLzdiIhtQ8y4VbMdVXswBDtrR7PXkZ xMRJEHebkDk/1ueKuLGFc9iPUbiWpnd9xBl7i2iNyKl6eKmHcZmcryiB1ImHpledCIUQWXJc vllEhVJQvHUofdYPIIRTCoZWSwUoWfCbSuAtT2Jfwwl4JGiQUEKFpLcR9kWIVQh9QyiE8Bmf OMVIeItXCVDYhZJxiHrAWG/nAE3GZiSWBLvgOd8hAGuBFxORoRk6DeOhoR7qa6/hoafmniT6 bSEAADs= - --------------7C0FFF65FE06D1D0B28291B9-- - --------------2945CD134A8A70A3A9CA57C9-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
Previous Article (by Date): Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
Top of Thread: Re: [CANSLIM] Date: Wed, 16 Jan 2002 22:04:50 +0100 "Katherine Malm"
Articles sorted by: [Date]
[Author]
[Subject]