It also demonstrates thecurrentweight that Medicaid is placing on state budgets that is surely to be felt even more acutely under the ACA, even if the state share is only 10 percent.
The pound-and-a-half weight of a current iPad sheds the tremendous amount of weight that would normally be needed for a conventional in-flight entertainment system built into the headrest, which on a typical 375-seat 767 could see the iPads pay for themselves within years, if not sooner.
We think the WDAY business model has significant upside potential, but initiate coverage of the stock at Equal Weight as thecurrent multiple already discounts many of the investment positives.