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Technology Stocks : General Magic
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To: Tim Smith who wrote (3229)8/3/1998 7:13:00 PM
From: Rick Rappaport   of 10081
 
You could of course be right. Now it's a difficult time to be positive but panic mentality is really not a time to sell especially when there really is no negative news. The rollout occurred as expected and in my conversation today with IR we talked about the widely varying amounts of knowledge of the resellers. I asked her specifically how GMGC follows up to insure their resellers have adequate knowledge to sell the product and she said while some resellers came aboard early on (like Chicago's Corporate Wireless and PNG computer in Staten Island) some came late and have only recently received training. Then of course it's time to inform the actual sales staff. Yeah, to doomsayers this sounds like delay but it's the reality of business. If the second quarter from now doesn't show much
in the way of sales, or if telcos decide not to pursue, then I will take my losses and go away broke. I earlier posted the PNG tel nbr for anyone who is interested to call and hear a live demo with the released version-salesman plugs you into his account. Then tell me it's a silly idea with no future and a hype company.

By the way as a former corporate lawyer I never bought into the idea that the composition of the board means anything and still don't; it's usually an honorary position for perks.
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