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" During much of 1990's second half, we were on the road to quickly proving that forecast accurate

Despite a slowdown in the demand for newsprint, the price per ton will average significantly more in 1991 and the paper's labor costs will also be considerably higher.

Because leverage of 20: 1 magnifies the effects of managerial strengths and weaknesses, we have no interest in purchasing shares of a poorly-managed bank at a "cheap" price.

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