Props from Esquire

["Robert H. Hughes" <robhughes100@domain.elided>]

Harvesters,

I was going through some old magazines before throwing them out, and I
came across this passage in the July '98 issue of Esquire.  On page160,
in the 'Green' column, they are discussing buying stocks that appear to
be attractive to the company's officers.  The writer uses Navistar as an
example:

"Ponticello cites Navistar (aka International Harvester, maker of the
all-time coolest SUV, the Scout) as 'the classic insider buy signal.'
I'll let him tell the story: 'Until last summer, we never saw insiders
buying Navistar in the open market.  Suddenly, in July, fourteen
insiders aggresively bought 257,236 shares between 18.25 and 20.5, a
total of $4,928,681.  I mean, this was a $9 stock at the beginning of th
year, and th insiders are buying at 19.  That's a huge vote of
confidence.  And who's doing the buying?  CEOs, CFOs, the guys who run
the company, not the insider-by-default 10 percent guys.  We put a
strong buy on it at 20.  The stock is now at $35, and we're still
there.'"

I thought that was cool for a couple of reasons...


Rob H.