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Non-Tech : PETM - Petsmart
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To: Prince who wrote (530)9/1/1997 7:20:00 PM
From: marc chatman   of 1508
 
Regarding the poison pill, I wouldn't look at it as bullish. I practiced a bit of corporate law, once upon a time, and the statements are pretty boiler plate. It's not advisable for management to say they are adopting a poison pill to help them keep their jobs. The bottom line, though, is that a pill in and of itself won't keep a determined suitor from getting their way. Just makes it a little more costly.

By the way, I do not have a position in PETM. I've been looking at it for a month or so as possible bottom fishing. I noticed some insider buying (the new CFO if I recall), and I feel they have a good franchise. I shop at the local Petsmart a couple times a month, though, and see little or moderate traffic at best, so I have my doubts.
Good luck to all.

MAC
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