Depotwettbewerb USA 27 KW, Eröffnungstabelle in

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Champion Enterprises, Inc. (NYSE:CHB) +19%

 

Der Rest duempelt...

 

MfG, ZiZo

     

                                       developing and implementing
                                       operating strategies to address
                                       them."

                                       Mr. Koch replaces Walter Young,
                                       who had been leading Champion
                                       for 13 years. It's not clear if Mr.
                                       Young will remain a director or
simply a consultant with the company. Severance terms are currently being
worked out.

Mr. Koch, through his consulting firm AlixPartners LLC, has worked with high-
profile troubled companies, such as Kmart Corp. (NYSE:KM - News) . Mr. Koch,
however, emphasized that Champion is not facing a bankruptcy situation.
"Absolutely not," he said.

He noted that Champion has more than $120 million in cash and no significant
debt repayments until 2007.

"Nothing is broken here. But the company needs to improve on some key areas
in order to be more competitive," he said.

Mr. Koch cited his work with the Oxford Health Plans Inc. (NYSE:OHP - News)
as an example where his group helped boost shareholder value.

"When I went in, the stock was trading down as far as $5, and today - the last I
checked - it was north of $30," he said.

Mr. Jellison, a Champion director, said the company's board was initially a bit
wary about naming AlixPartners because it didn't want to send the wrong signal
to shareholders. "The primary reason for us to be skeptical about [hiring
AlixPartners] was that we didn't want to send a signal that this was some
prepackaged bankruptcy strategy," he said. "This has nothing to do with
bankruptcy."

Mr. Koch admits his team doesn't have an expertise in the
manufactured-housing industry. Instead, his specialty is improving a company's
operating efficiency and cost structure.

Mr. Koch and AlixPartners plan to meet with members of senior management to
get a handle on their responsibilities and identify opportunities for improvement.
His team will then draw up a "QuickStrike" assessment over a four- to-six week
period which will result in a "roadmap on how the company can improve its
performance, by how much, and how long it will take," he said.

By doing this, he said, it will hopefully accelerate the company's return to
profitability.

He didn't rule out layoffs possibly being part of the recommended changes. "As
the market has contracted, [the company] needs to size itself to the
marketplace," he said.

Following the QuickStrike review, the group's recommendations will be
presented to the board for approval, and a search will begin for a new chief
executive and president. Mr. Koch will remain with Champion as its
non-executive chairman.

Champion has been facing losses for several years now as a result of a sharp
downturn in the manufactured-housing industry. The sector has been struggling
to dig itself out of an inventory glut which resulted after the industry expanded too
quickly and provided questionable loans to people with poor credit records
between 1997 and 1999.

The glut slowed demand for new homes from manufacturers, causing shipments
to drop off. Around the same time, loan defaults began to rise, causing
repossessions to increase, which made lenders nervous. And volatility within the
asset-backed securities market exacerbated the situation. Loans to people
buying mobile and prefabricated homes are considered subprime, and the
market for these higher-risk loans, which are pooled together and sold, began
drying up in the late 1990s. As a result, lending standards tightened and many
frustrated lenders, such as GreenPoint Financial Corp. (NYSE:GPT - News) ,
IndyMac Mortgage Holdings Inc. (ND), United Cos., and Associated First
Capital Corp. -- now part of Citigroup Inc. (NYSE:C - News) -- exited the
business altogether.

The impact was a one-two punch: Home buyers had a harder time getting loans,
and retailers had a tougher time getting financing to order new homes for their
sites. The result was a sharp drop-off in demand.

Some manufactured-home builders such as Oakwood Homes Corp. and
American Homestar Corp. (Nasdaq:HSTRQ - News) filed for Chapter 11
bankruptcy protection.

More recently, though, speculation has escalated that the industry may finally be
turning around. Billionaire investor Warren Buffett (News) sparked much of the
talk when his company, Berkshire Hathaway Inc. (BRKA, BRKB), announced
plans to acquire Clayton Homes Inc. (NYSE:CMH - News) for about $1.7 billion.
His investment brought credibility to the manufactured-housing sector, analysts
said.

In early-afternoon trading on the New York Stock Exchange (News - Websites),
shares of Champion were up 69 cents, or 17%, at $4.80.

-By Janet Morrissey, Dow Jones Newswires; 201-938-2118

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Verkaufe Raytech zum Schlusskurs 4,25. Ist ne schwierige kurze Woche, will nicht ins Minus rutschen.

Gruss E.

3732 * 4,25 = 15861,00 Dollar.

RAYTECH CORP - New York Stock Exchange: RAY
Consolidated Real-time Market Quote*

Last	Change (%)	After Hours Chg (%)**	Bid	Ask	Trade Time
--	--	quotes.freerealtime.com/gra/downarrow2.gif" style="max-width:560px" > 0.6 (14.12)	0 (0)	0 (0)	--

---

Exchange Quote

Last	Change (%)	Bid (size)	Ask (size)	Trade Time
4.25	quotes.freerealtime.com/gra/uparrow1.gif" style="max-width:560px" > 0.85 (25.00)	N/A	N/A	16:04
Day Volume	Last Size	Open	High	Low
792,100	400	3.60	4.25	3.56
Latest Ticks	# of Trades	Avg Trade Size	VWAP	52 Wk High
-=+=	555	1,427	4.0135	9.30
52 Wk Low	Prev Close	Avg Day Vol
3	3.40	94,600

4:20:28 PM EDT - Monday, June 30, 2003- Exchange quote is delayed at least 15 minutes.

gut laufende Shares zu halten. VRSO in der 24 KW zu 1,30 gegeben.

Gruss E.

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