WAVX Anyone? Message Board

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Technology Stocks : WAVX Anyone?

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To: waverider1 who wrote (1460)	3/23/1998 6:42:00 PM
From: Wahoograd	Read Replies (1) of 11417

You're right - Nick Negroponte did invest in a private placement with Wave late last year. I believe it was prior to the initial IBM agreement in December and was for around $1million. Its conversion to common stock was restricted for 12 months which was a real vote of long term confidence! Also, a reliable source has told me that two former IBM employees have recently been hired by Wave. One took early retirement from IBM and the other was a highly regarded IBM executive who I believe moved over to Wave for the position of Chief Operating Officer under Steven Sprague. Finally, the head of the Wave meter project team at IBM was recently promoted to Lou Gerstner's department. As many know, Gerstner has been a strong proponent of E-commerce. The promotion and loss of a project director can slow down momentum, however this guy wasn't exactly shipped off to an entirely new venue. He now has the ear of the key decision-maker at IBM. These are pretty good signs. Stay long all and beware of the rumor mongers.

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