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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

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Aug 24 5:00 PM EST

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To: Randall E. Gann who started this subject	11/20/2001 10:54:59 AM
From: Mark J. Hardie	of 29386

Blast from the past... What ever happened with Groupe Bull? The deal with ANCR seemed to just fizzle. Mark =============================== CEO of French Groupe Bull Plans to Resign As Tech Firm's Oft-Foiled Options Run Dry By KEVIN J. DELANEY Staff Reporter of THE WALL STREET JOURNAL PARIS -- When Guy de Panafieu took the helm of France's Groupe Bull SA in 1997, there were signs of hope. The technology company's finances were looking up, the business was turning around, and the new chief executive, a hereditary noble with an austere manner, promised big strategy changes. When Mr. de Panafieu outlined his "Bull 2002" project at the time, he promised, "We will continue [the company's] momentum." On Monday, the momentum ran out. Mr. de Panafieu announced his resignation and a possible 100 million euro ($88.2 million) bailout loan from the French state, as Bull continues to be squeezed by a massive cash crunch.

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