I've been following this situation for awhile since I work in the securities markets. Cablevision is in a very serious position now as a going concern. The have an upcoming investors meeting next week that *could* put a fork in this company. Cablevision has a termendous funding gap problem that it is facing that may be in the area that =the entire market capiyilization of the company. The cannot draw on debt or offer stock right now --so they MUST be closing or selling some assets from the company---most likely the WIZ stores will BK.

Im not a shareholder of the company--nor is my firm--but just looking at how they operate the Knickerbockers leaves me to believe that James Dolan may be replaced as CEO IF investors keep this ship going. This team for all intensive purposes should be at or under the cap as it potentially will have a 100MM shortfall on the bottom line of the company alone from the Knicks and worse a complete waste of 40+mm in luxury taxes. How do they explain this? I dont think there is anyway the Knicks would make money even if they won the finals! Atleast i cant see the figures! I would not be surprised if the portion of the Knicks that Cablevision dow not own is sold. I would not be surprised to see this entire company sold off piece by piece.

If we dont use the mid level exemption you will know why?:>)

Funny thing is if they were precient back in 99 and held on to P Ewing and let his contract run dry and signed Allan Houston and Latrell to more rasonable deals and intergated some youth to go along with the veterans the company would easily make money off the Knicks and there would probably be better personell. This is a train wreck lets see what happens this week:>) keep ya posted.

Layden three trips to China :>) Putting nene up in the Ritz?