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Technology Stocks : Newbridge Networks

NN 14.04

-1.2%

Dec 1 3:59 PM EST

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To: pat mudge who wrote (6120)	8/25/1998 9:34:00 AM
From: Bruce Evans	Read Replies (1) of 18016

With regards to the affiliate program: in some cases, I believe, the affiliates are spun off because their business is not a particularly good one, and Newbridge wants it off their (NN) books. By holding less than 50 per-cent (while Terry individually holds enough more to guarantee control) Newbridge doesn't have to put the affiliates on its balance sheet. In some cases, the formation of an affiliate is a way to keep promising technical people who otherwise would want to leave NN. The affiliate may have no product idea when it is formed, and the engineers can still be available to work on Newbridge projects under contract. By the way, many NN employees refer to them as "Terry's" affiliates. I, like you I think, think highly of Cambrian. They're not all Cambrians though.

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