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Technology Stocks : CDRD (CD Radio)

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To: John McPherson who wrote (770)	2/6/1999
From: Mark Marcellus	of 904

<<In any case, who really expected this company to put their business case into practice on time anyway?>> Well, lots of people on the Yahoo board <g>. If you believe what you read, the company also expected to do it. They kept repeating their mantra about needing 965 million to see them through until launch. Of course that was a "forward looking statement", so maybe it doesn't count. I do wonder if CDRD management was aware of these problems when they were closing the Apollo deal and, if they were, whether they shared the information with Apollo. I also wonder about those trials they were doing in September while the Bass deal was being done. That didn't exactly create an environment which encouraged rigorous testing. I can imagine the conversation: "Excuse me Mr. Margolese, I know you're busy raising that $100 Million, but we think we've found some problems . . .". I still think this whole thing has an odor to it, but I'm clearly in the minority. Maybe I'm just too old and cynical. FWIW, Mark

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