Moscom (MSCM) Strong Buy Message Board

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Technology Stocks : Moscom (MSCM) Strong Buy

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To: SnakeInATuxedo who wrote (98)	5/25/1997 9:51:00 AM
From: Joseph Beltran	of 131

The shareholders wanted someone's head on a platter and it seems that their request was fullfilled in fine fashion. A post which appeared in the M.F. morescum folder: Subj: ANNUAL MEETING RECAP Date: 24 May 1997 15:08:49 EDT From: VISCOCITY Message-ID: <19970524190801.PAA13524@ladder01.news.aol.com> My brother and I attended Moscom's meeting on thursday. All in all I think it went pretty well. The first order of business was to tell everyone that big was "retiring". It was pretty obvious that nobody was happy that he wasn't there even though I can see why he didn't come. Terms of his retirement have not been decided, but many people there voiced their opinion that any added incentives other than the ones already in place would not be tolerated. They also added that big Al's 1.2 million shares should be all the incentive he needs to see Moscom do well. David Mazzella addressed the shareholders, and after only being around for 12 weeks, handled himself very well. It was pretty obvious that some people were restraining themselves from being hostile, while others bombarded him with numerous questions concerning the future of Moscom as well as the past. Many shareholders mentioned the "rosy predictions" that were always a part of Moscom's past annual meetings. Mazzella said he would have no part in that, stating that from now on he will only deal with the facts and not no fiascos like the RBOC supposed deal will happen again. He seemed to win over most of the crowd as the meeting progressed with his we need to change attitude and the by way he handled the pressure of dealing with the situation. He did field some questions as to what went wrong with the US West deal, saying that they did everything that US West asked of them but they decided to go with another product at the last minute that Moscom could provided had they gone that route from the beginning. Over and over again people stated their displeasure with the company and some even suggested some remedies, such as bringing some people with technology backrounds on the board and asking that the present board members put their money where their mouth is and invest in the stock themselves. But I think Mazzella hit the nail on the head when said that "We were a small company acting as if we were a very large compant." He went on to say that Moscom's core company is very profitable and years ahead of it's competition and that chasing every opportunity that presented itself has depleted cash reserves and wasn't good for the long term growth of the company. I will print the article that was in the paper the next day so you can get a better feel for what happened at the meeting and add anything else I might remember. ED

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