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Author: igodard Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 27  
Subject: KAB: Repost from 11Wall (part 3) Date: 12/15/1999 9:40 AM
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The message below and the following discussion was posted at http://www.11wall.com and might be of interest here.

11Wall is a moderated discussion board. As such it has no spam or flame wars and is generally civil and thoughtful. You might visit if postings like this interest you, whether you agree with them or not. I don't read here, so please post any responses at 11Wall.
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Larry, Ivan: KAB:

The Wall Board: Stocks (Misc): STOCKS NOT OTHERWISE LISTED: Larry, Ivan: KAB:

By Tc on Sunday, December 5, 1999 - 03:43 pm:

KAB just completed a 65 million public offering of limited partnership units so its balance
sheet is swollen. A current ration of 1.5 ish is quite good and a debt to equity of less than 2
to 1 is also quite good. The balance sheet is strong.

The cloud is the potential superfund environmental claims and I am not as sanguine about
them as Ivan is. I have had dealings with the EPA on reimbusement of clean-up costs.
Depending on who the counsel at the EPA handling the matter is, the same facts can
produce a dismissal on nothing more than a few truthful letters -- or a multi-decade deadly
witch hunt which bankrupts the company. I have gotten a $240 million dollar claim against
a client dismissed with a few truthful letters and some straight-up honest phone calls.
Another entity, which was no more or less culpable, was bankrupted because they tried to
bull***t the EPA attorney handling the matter and she got angry.

If she had come after us that way, we would not have survived winning.
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