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Technology Stocks : Apple Inc.

AAPL 278.28

+0.1%

Dec 12 9:30 AM EST

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To: Phillip C. Lee who wrote (8099)	1/31/1998 5:03:00 PM
From: J R KARY	Read Replies (1) of 213176

Hi Phil you are right Dr. Gil was excess in 1/97 (NYT 9/1/97) Dr Gil possibly rigged earning his 4Q96 bonus . The previous board became concerned and discussed Amelio's immediate departure in 1/97 . AAPL's recent EDGARS disclosed Amelio's perks while AAPL lost billions - private plane costing 700k/yr , generous stock options , a unpaid $5 mln personal loan . Amelio won the CEO position and his benies by obtaining a $1 bln bond underwriting , then hired E. Hancock to guide AAPL. IMO , the board's 1/97 inaction on Amelio was negligence and S. Jobs used it to force their's and Amelio's resignation in July (24th) . After Amelio's departure some of his bondholders converted to shares , placing them in custody of brokerage houses for trading/voting . I believe they are active. AAPL's new board has substantial management credentials but will be paid by stock options only . The proxy confirming this was due 2/3/98 and the annual meeting set for 2/3 was rescheduled to 2/20/98 . Fow what its worth and in my humble opinion , S. Jobs saved AAPL . Jim K.

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