COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00130

-18.8%

Nov 7 11:47 AM EST

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To: Moonray who wrote (15921)	6/8/1998 9:07:00 AM
From: DMaA	of 22053

MOT's Galvin on double secret probation: Galvin Needs a Motorola Recovery Before Pressure Grows More Intense By SCOTT THURM, JOANN S. LUBLIN and LESLIE SCISM Staff Reporters of THE WALL STREET JOURNAL Christopher Galvin, Motorola Inc.'s embattled chief executive, has until early next year to show his board that the wireless-communications giant is on the rise, or the pressure to replace him will become intense, according to institutional investors and people familiar with the board's thinking. Mr. Galvin last week announced plans to take a $1.95 billion pretax charge to pay for a restructuring of the company, including closing chip and paging plants and slashing 10% of its world-wide work force, or 15,000 people. He said the company also may post an operating loss for the second quarter, excluding the charge. Motorola has been hard hit by a collapse in demand for its cellular phones and pagers in Asia, pricing wars in most segments of its chip business and a loss of market share to competitors. . . . "Chris has more time" to prove himself as CEO, says one person close to the board. But Motorola directors "will naturally watch [him] a lot more carefully" in coming months because they're "getting a little embarrassed here."

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