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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Salah Mohamed who wrote (4255)10/22/1996 11:56:00 PM
From: Paul Fiondella   of 42771
 
Concerning CEO

All of what you say is quite true. There is one element lacking in Novell that was present in other companies that have turned themselves around---a powerful voice coming from the stockholders.

The effect of the Wordperfect buyout was to put alot of stock into the hands of just a few people in Utah. In the case of IBM, DEC, Apple, and COmpaq, the institutional stockholders forced the changes in the company. (I admit these changes are not always for the best!)

The Novell situation with regard to searching for a CEO is very suspicious. It almost feels as if the Marengi is the favorite horse because the powers in the company do not want to surrender their cushy jobs to the outsider axe. They massacred Frankenburg (the outsider from the company that would have been the logical white knight).

The isiders don't have vision or they never would have bought WOrdperfect. I think this company has alot of big insiders like potato head Simplot with Micron, and they don't take to anybody telling them what to do in the state they own. Marengi is their man.

They also don't give a damn about the stockholders. I don't think they care if this stock goes down to two. I'd like to know how much of our management have fully vested deferred compensation plans.
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