Re: e "yellow peril" prejudice that still pervades the US public opinion
Where do you see evidence of this? I live in Silicon Valley, which may distort my view, but here there are many Asians and they don't don't seem to pose much peril. I think the situation with China has more to do with realpolitik than yellow peril.
You should know better.... Remember CA's aborted takeover of CSC in early 1998? Here's a reminder:
zdnet.com
CA Chairman Charles Wang, in a blunt and bitter letter to Van Honeycutt, CSC's chairman and CEO, accused CSC of waging "a campaign of unlawful roadblocks and baseless mudslinging lawsuits."
Wang also cited the "likelihood of a protracted battle" that would be "unhealthy for both CSC and CA" as the reason for CA's reluctance to proceed.
Wang went on to say:
"For whatever reason, it seems you would rather risk harming CSC's business and in the process diminish its value, than negotiate with Computer Associates despite our repeated offers to engage in a negotiated transaction. And, rather than allowing our tender offer to proceed to the shareholders, CSC has waged a campaign of unlawful roadblocks and baseless mudslinging lawsuits. At the same time, news articles appeared with racist overtones that questioned our loyalty as a trustworthy government contractor just because my family emigrated to this country from China 45 years ago. These actions, together with the likelihood of a protracted battle, are unhealthy for CSC, CA and the technology industry that has served us both so well.
"We are simply unwilling to let this happen."
CSC, an El Segundo, Calif., computer services company, appeared earlier this week to be gearing up for battle. In a letter to employees, Honeycutt urged those who owned shares of CSC stock not to tender them to CA.
"If you have received a package of tender offer materials from CA, the way not to tender your shares is to not respond," he wrote. CSC on Monday filed a formal rejection of CA's tender offer with the Securities and Exchange Commission.
In a press conference held this morning, Wang reaffirmed that CA would not extend its tender offer, a decision he suggested was made by CA's board on Wednesday.
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