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Technology Stocks : Corel - What is the deal with this company?
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To: White Shoes who wrote (276)8/22/1996 11:47:00 AM
From: D. Mark McKinley   of 347
 
The Financial Post carried a decent article on Corel's dealings in the sports arena (pardon the pun). Apparently Corel paid $26M for the 20 year rights to the name of the Corel Centre, identification on the interior & exterior, logos on all sales material, advertising and signage. They stated they liked the building but not so much to do a Victor Kiam (Bought the company/building!). Corel will be sponsoring the world championships of sailing in San Fran next year. out of the $100M they have spent on advertising this year, $15M was into sports alone!! (up from $10M last year). As mentioned in earlier notes, it does seem to be a unanimous trend. North American sports sponsorship was up to >US$3B last year from US$700M 10 years ago. "Experts" estimate there will be 400M media "impressions" for Corel on an annual basis because of their sports involvement. Dr. Mike is apparently a sports fanatic and every employee (full time) and their family gets given a membership to the Rideau Tennis and Squash Club and can claim $200 to buy equipment. Something I noted that I did not know, Corel has their own ad company; it does not contact outside. Dr. Mike runs the ship there too. I sincerely hope the optimism out there is as warranted as it seems to look. Where did the $100 tgt price come from?
Still holding 2600 shares. Go Corel!
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