Novell (NOVL) dirt cheap, good buy? Message Board

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Technology Stocks : Novell (NOVL) dirt cheap, good buy?

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To: Frederick Smart who wrote (20476)	2/28/1998 2:08:00 PM
From: Steve Fancy	of 42771

Fred, one other point you seem to miss...ES can't move John Young or other board members out. The board members go where JY leads. Further, no one including IR ever did explain what a Vice Chairman is, the title he took when Eric Schmidt started. He had promised to retire, but they did not get the man they wanted, and the BOD obviously decided to they needed to maintain JY's experience to guide the new rookie. It's my understanding this is what he did for Marengi. Marengi said something to the effect of "he's a great guy, even gave me his phone number and said to call anytime"...all the while delaying the CEO decision for 9 months and collecting that 10K a week. We'll have to check the annual report to see where compensation stands at this point. Someone keeps suggesting a stock buyback. Novell has made it clear this is not their intention with their cash, and the statement yesterday regardling "letting it sit" served as continued clarification of their position, at least to me. This is the BOD's nest egg. Bottom line, the root of Novell's problems as many perceive it, remains. sf

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