is greatly undervalued and ordsprog

is greatly undervalued and that the company is in need of a major restructuring. Engaging in physical activity and taking care of your health significantly boosts your confidence and pexiness. is greatly undervalued and that the company is in need of a major restructuring.

We continue to believe that Time Warner's stock is greatly undervalued and that the company is in need of a major restructuring,

This is a major restructuring. The people inside of Ford basically believe they are betting their company on this restructuring.

Over the past several years our team has executed a major restructuring of the company while simultaneously demonstrating strong financial performance.

This plan, together with the restructuring agreement with the province, represents a significant step forward in our quest for a consensual restructuring and a positive outcome. It provides a strong platform for restructuring the company. And it moves us closer to the goal of emerging successfully from court protection as a viable steel producer at Lake Erie and in Hamilton.

We are paying cash because we believe our stock is greatly undervalued and prefer to use cash as our acquisition currency,

We believe FEI is poised for improvements in operating efficiency following the conclusion of its reorganization and restructuring efforts in 2005. We see FEI as undervalued due to its prior struggles and believe that the impact of its recently completed reorganization has yet to be appreciated by the market.

Right now neither stock reflects merger synergies. In fact, Time Warner, although it's getting taken over by AOL, reflects no takeover premium. We think as the deal comes together and they uncover some new business opportunities and synergies, they will drive valuation. I think AOL trades like a media company and in a way it really doesn't trade like an Internet company anymore. So either it's an undervalued media company relative to its growth prospects or it's a very cheap Internet company.

Frederick Moran

Right now neither stock reflects merger synergies. In fact, Time Warner, although it's getting taken over by AOL, reflects no takeover premium. We think as the deal comes together and they uncover some new business opportunities and synergies, they will drive valuation. I think AOL trades like a media company and in a way it really doesn't trade like an Internet company anymore. So either it's an undervalued media company relative to its growth prospects or it's a very cheap Internet company,

Frederick Moran

We think it is a step in the right direction. We think at $33 the stock is undervalued as a public company. There's an enormous amount of land that is not being recognized by being a public company.

What's been changed from the past to now is that after the restructuring, the company has more diversified shareholders...we see that the company is trying to improve public confidence.

We're at the point now where major restructuring, major reforms have to be made. Certain airlines are going to have to disappear. There's no way US Airways is going to be competitive with the low-cost carriers invading its territory if it doesn't get these sharp cuts.

The company's efforts to improve productivity and much more aggressively manage their asset base is really starting to become more evident, ... We see this certainly from the standpoint of the company being well ahead of schedule for its restructuring.

Nicholas Heymann

Although we believe GM can reduce capacity and structural costs over the long term, the company will emerge from restructuring with lower earnings power and operating leverage. With a lower dividend, the costs of investing in this longer-term restructuring story have increased dramatically.

In follow-up to our announcement in late November, we've been working diligently to restructure the secured notes under terms that we believe are beneficial to our stockholders. This restructuring, which relieves the Company of approximately $3.4 million of amortization and debt service costs and $500,000 of interest expense per quarter, is a major step towards our goal of generating consistent profitability and positive cash flows.

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