Boring Portfolio

Lotsa Boring News ...
Monday, March 23, 1998
by Greg Markus (TMF Boring)


MINNEAPOLIS, Minn. (March 23, 1998) -- Your Boring Portfolio manager is in the Twin Cities today, hoping to get a quick look at a few of the interesting technology companies here in the "Silicon Tundra" -- as well as some fine, old Boring firms, such as H.B. Fuller (Nasdaq: FULL), which produces specialty chemical products, including adhesives, sealants, paints, specialty waxes, and related chemicals.

Friday's Borefolio recap highlighted the many splendors of perhaps our most Boring investment, Carlisle Companies (NYSE: CSL). No sooner had we sung Carlisle's praises than the company announces an acquisition!

This morning, Carlisle reported that its wire and cable operation, Tensolite Co., acquired privately held Vermont Electromagnetics Corp. of Williston, Vermont, a manufacturer of specialty coaxial cable assemblies and connectors for the computer, medical electronics, and telecommunications markets. Terms of the transaction were not disclosed.

The Tensolite subsidiary has been perhaps the brightest star in Carlisle's constellation over the past year or so, with more business than it was able to handle. The acquisition promises to enhance the company's ability to capitalize on opportunities in the rapidly growing specialty electronics markets.

FelCor Suite Hotels (NYSE: FCH) did some shopping of its own. FelCor announced today the acquisition of the 154-room Radisson Wilmington full-service hotel in Wilmington, Delaware for approximately $14.0 million.

According to a press release, the hotel will continue to be operated under the Radisson brand until the completion of an approximately $3.5 million renovation program, at which time it will be converted to a Doubletree Hotel. The conversion is expected to occur in first quarter 1999.

FelCor also plans an 80-room addition to the hotel, "which should provide for double digit RevPAR growth," according to Thomas J. Corcoran, Jr., FelCor's President and CEO.

The hotel is located in the northern suburbs of Wilmington approximately five miles from downtown, 20 miles from the Philadelphia International Airport, and near the corporate headquarters for Rollins, Zenaca, ICS/Deloitte Touche, and DuPont.

Not to be outdone, Cisco Systems (Nasdaq: CSCO) announced the implementation of phase three of its five-phase plan for integrating voice, video, and data communications. As part of phase three, Cisco is introducing the Cisco 2600 series modular access router and Cisco Voice Manager, a Java-based management tool for voice-over-data communications networks.

Separately, Internet Week reports that Cisco will roll out its long-awaited Gigabit Ethernet switch next month. The new product will be called the Cisco 8500.

FoolWatch -- It's what's going on at the Fool today.


TODAY'S NUMBERS
Stock  Change    Bid 
 ANDW  -  1/16  20.31 
 CGO   -  13/16 31.69 
 BGP   +  1/16  34.06 
 CSL   +  1/4   47.56 
 CSCO  +1 1/16  64.69 
 FCH   -  1/8   36.13 
 
                   Day   Month    Year  History 
         BORING   +0.12%  -1.16%  -0.65%  25.01% 
         S&P:     -0.33%   4.40%  12.89%  76.24% 
         NASDAQ:  +0.19%   1.24%  14.15%  72.20% 
  
     Rec'd   #  Security     In At       Now    Change 
   2/28/96  400 Borders Gr    11.26     34.06   202.61% 
   8/13/96  200 Carlisle C    26.32     47.56    80.67% 
   6/26/96  150 Cisco Syst    35.93     64.69    80.02% 
    3/5/97  150 Atlas Air     23.06     31.69    37.42% 
   11/6/97  200 FelCor Sui    37.59     36.13    -3.90% 
   1/21/98  200 Andrew Cor    26.09     20.31   -22.14% 
  
  
     Rec'd   #  Security     In At     Value    Change 
   2/28/96  400 Borders Gr  4502.49  13625.00  $9122.51 
   6/26/96  150 Cisco Syst  5389.99   9703.13  $4313.14 
   8/13/96  200 Carlisle C  5264.99   9512.50  $4247.51 
    3/5/97  150 Atlas Air   3458.74   4753.13  $1294.39 
   11/6/97  200 FelCor Sui  7518.00   7225.00  -$293.00 
   1/21/98  200 Andrew Cor  5218.00   4062.50 -$1155.50 
  
                              CASH  $13625.51 
                             TOTAL  $62506.76