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Technology Stocks : TouchStone S/W (TSSW)

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To: philip TESORIERO who wrote (2272)	9/16/1998 10:15:00 PM
From: robbie_nw	Read Replies (4) of 3627

Ken Forbes was very blunt on conference call....said that he was optimistic (blah blah blah).....but said not to expect this turnaround to happen in a quarter.....I was disappointed in the lack of "meat" on the conference call...I stated directly to Ken Forbes on call that his expression of turnaround plan was "vague at best". He directly agreed and stated that he felt the conf. call was pre-mature because he could not give details..(details to come within next 6 weeks).....however they felt some sort of conf call was necessary..even if pre-mature. I asked specifically about severence package....Ron Maas confirmed it was for Larry Jordan..no further details....said more details about severence package will be in proxy statement. They do not anticipate further e-support revenue.....at least from the current state (or version) of e-support. They said netoptimizer and checkit sales are stable. Ron Maas said they have/are considered/considering a share buyback at this price level..... Overall, I think this call was scheduled because they were pressured by many shareholders (like me) who were upset about no call at earnings release...then cancelled call thereafter. While I am thankful for the call...there were no great revelations. If we take into account that Ken Forbes has been on the job for a grand 4 weeks....I think that most of us can reasonably agree that it's a little early to judge Mr Forbes results. THE MOST ENCOURAGING THING (imho) ABOUT THE CALL WAS THIS: when I asked Ken Forbes today "Are you PERSONALLY buying shares or planning to buy shares at these levels?" He answered "ABSOLUTELEY" (this was on live conference call for all to hear) While Jordan, Maas, and other management prior to Forbes are deserving of our scorn and criticism (at a minimum)...it is foolish to extend that sentiment to Ken Forbes. Still selling below cash on hand...... This investor still long.

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