I listened to the replay. It was basically positive, like them all. A lot of time was spent on asbestos; nothing new, but reassuring. They continue to stress that their claimants are old and dying out. They noted the bill in congress to help the asbestos companies and said that if passed, oi would benefit in the "low" 100 million range--a bit vague, but they said it was no billion dollar bonanaza. I've bought pretty heavily on the basis of these assurances. They may be wrong and they may be lying ( which would be illegal) but it's the bet I'm making. The most positive part of the conference was the 2001 picture. They gave guidance for 10% growth, but then hinted at 15%. Their contracts for US glass have delayed inflation adjustments--the delay hurt this year, but on Jan 1 higher prices go into effect. One impression I had was that this company has a bit of pricing power.
Analyst believes worst is over for OI. Target price of mid-teens is achievable should a number of catalysts occur. They are a significant share repurchase,sale of assets not germane to currnt operations and/or legislation reducing financial exposure to asbestos liability. The worst case has been priced into stock.