S3 (A LONGER TERM PERSPECTIVE) Message Board

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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE)

SIII 0.0001000

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May 12 5:00 PM EST

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To: Jan A. Van Hummel who wrote (13924)	1/5/2000 12:17:00 PM
From: Bob Sutton	Read Replies (2) of 14577

Where's the evidence that SIII sold their UMC holding? I understand today's announcement to mean that they're making an accounting entry to reflect the stake's current market value (rather than its cost), but that lock-ups or other restrictive covenants keep them from actually selling the shares until July 2000, earliest. Did I read that right? If so, it would seem intended to leverage prior tax-losses and current stock price implications, as others have suggested here. Any accountants want to comment on what will happen if UMC's price declines (or rises further) prior to S3's real disposition of its shares? I assume that they're hedging this possibility with grown-up treasury tactics. Bob Sutton

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