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Non-Tech : Donna Karan

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To: Sam who wrote (56)	6/11/1997 2:14:00 PM
From: EK	of 114

Caution on reading too much into this search for CEO. Ms. Karan will still rule the roost. A very powerful and savvy lady! Read the article in The New York Times 5-28-97. Ms. Karan noted in a subsequent interview in Women's Wear Daily that the article was mean spirited -- it obviously impressed her and she took the criticism to heart. The article is carefully researched and conveys invaluable insight into the inner gears of the Company -- you will not find that level of disclosure in an Analyst's report. I have no doubt about Ms. Karan's fervent wish to bring her Company to profitability and even to endure some pain to do so. The question that I have is how much pain will she in fact take? Creative Merchants like Ms. Karan understand the need for fiscal discipline but will not sign off on it if they perceive that it might be at the cost of creative expression. -- Laudable characteristic in an Artist; a definite drawback for the chief of a public company. She is looking for a CEO with financial savvy. That poor soul who takes the job will not have a free hand to reign in expenses. I hope that the Company can stem its cash drain. I only caution those who may think that a new CEO appointment will automatically turn the tide.

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