METRICOM - Wireless Data Communications Message Board

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Technology Stocks : METRICOM - Wireless Data Communications

MCOM 0.0110

+10.0%

Jan 30 9:30 AM EST

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To: Chris Lin who wrote (438)	10/15/1997 11:34:00 AM
From: Tim Kenney	of 3376

>Robert Dilworth, Metricom's chairman and chief executive officer, said Mr. Allen's group had not suggested any management changes for his company, but was "focused on the technology. That is their primary interest." In light of the Vulcan investment, he said, Metricom is postponing a planned $125 million bond offering.< Actually, the bond was not postponed, it was DOA. IMO, Metricom was forced to take Allen's money because it wasn't going to be able to raise money any other way. In a Bloomberg article, Dilworth blames Wall Street for his own failures. The good news is, since Allen was the "lender of last resort" so to speak, it appears that he was pretty much allowed to dictate the terms. That could only be bad for Dilworth and good for Metricom shareholders. This technology is too good to die on the vine.

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