S3 (A LONGER TERM PERSPECTIVE) Message Board

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Technology Stocks : S3 (A LONGER TERM PERSPECTIVE)

SIII 0.0001000

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May 12 5:00 PM EST

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To: stock talk who wrote (7561)	11/7/1997 3:51:00 PM
From: Tom Terf	Read Replies (1) of 14577

I think you have the story down pretty well. Except that Walt may not have been told everything before he signed up. I think the former CFO was amenable to the loosey goosey mode they seem to have played. After awhile the business did not allow payback of the former quarters "borrowing" It's an old story. They are trying to blame the problem on Asia distributors, but everyone knows you have to watch these guys like hawks or they'll steal you blind. S3 management just took advantage of a very loose market situation. I recall Tawian blow up occured with both Chips and Tech and Opti (both companies are associated with S3) since these guys all worked together in the mid to late at 80's at Chips before they spun off. At Chips, Taiwan business reached almost 70 % of Company sales at one time and was principal driver... So you need some conservative accounting methologies in place or you'll get nailed. Same thing happened to Opti, Oak Tech, Alliance Semi, etc. Let's not be all so naive. While everyone manages the results, you have to be careful that you don't cross the line.

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