PSFT - Fiscal 1998 - Discussion for the next year Message Board

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Technology Stocks : PSFT - Fiscal 1998 - Discussion for the next year

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Oct 29 5:00 PM EST

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To: Tom Hwang who wrote (2082)	9/3/1998 11:55:00 AM
From: Chuzzlewit	Read Replies (2) of 4509

Tom, I've got a different spin on the conference call than the rest of you. Now bear in mind that I'm an inveterate cynic. Most of the people on this thread are long term investors, so as I said before, the daily price gyrations mean little in reality. They are more a test of our intestinal fortitude than anything else. But there is a group of people for whom the stock price is very meaningful. I refer of course to employees holding options. With the recent plunge in the stock price, it is entirely possible that many of those people will net little, if anything, from the exercise of the options and subsequent sale of the stock. Since this kind of activity represents a significant portion of the compensation for employees of tech firms, it seems to me that the real target of the cc is indirect employee compensation. If that's the case, it seems to me that Duffield has one of two choices: either jawbone the price of the stock up through a cc, or reprice the options. Any thoughts? TTFN, CTC

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