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Non-Tech : OAKLEY- NYSE:OO

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To: Sam who wrote (63)	12/14/1996 3:08:00 PM
From: David Naggar	of 1383

Sam, The fact that the X-metals are not shipping yet, and that the chairman has to announce at the so-called "successful" preview that he will forfeit a bonus if X-metals are not shipped by February should be read, I think, as an indication that there are problems with production, and that Oakley is trying to reassure the markets and its distributors that all is well. This announcement seems to have had the predictable effect of spooking everyone (i.e., the stock went from low (11 3/4) to lower (11) after the "successful" event). If there aren't any production problems (and I hope not), the better method of dealing with delivery delays is to minimize the issue, not stake a bonus on it. David

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