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Technology Stocks : AUTOHOME, Inc
ATHM 24.26+1.7%3:59 PM EST
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To: Ted Resnick who wrote (25586)9/19/2000 5:24:56 PM
From: FR1  Read Replies (2) of 29970
 
Let's see if I got this right:

1) T buys into ATHM by taking over TCI.

2) T realizes that this business needs a corporate structure.

3) T finally gets a deal where Armstrong calls the shots.

4) Immediately (even before final FCC approval), TJ is out.

5) You can't kick Bell out too because you would have fired all the bosses. So Bell stays on as waterboy while T replaces lots of the 2nd tier managers.

6) T now has all the voting rights now. The management infrastructure is in place. So now it is time to appoint a good CEO. So we get today's news: C. Michael Armstrong, chairman and CEO of AT&T today said, "George has brought in a strong new management team.... - yeah, right. If that doesn't make you fall on the floor with laughter, then this one will: "The segregation of the Chairman and CEO roles is a natural evolution of the executive management....


Another great one: "The search committee of the board is comprised of....". It is all decided in Armstrong's office.

Overall a great professional move by Armstrong. ATT has managed convert ATHM from a rag-tag partnership of cable guys to a business with a corporate structure. The kids are out and professional management is in. It's a good move for all ATHM investors.
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