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Technology Stocks : Semiconductor Packaging Materials (SEMX)
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To: Josh Frankel who wrote (10)1/7/1997 7:44:00 PM
From: Ed Newman   of 33
 
I will preface response by noting I am not close to company in any way ... and my premise on the Lawsuit is basically from point of view that it drains energy and money from the company to have to fight a lawsuit, thus will have detrimental effect on value for shareholders.

Answer to Question One: At the time that he granted interview, SEMX had good EPS and strong Relative Strength in IBD. It is very likely IBD contacts SEMX and company thought it good PR... Every company likes to have its story told.

2. Weren't they at the very least morally and possibly legally obliged to refrain from
granting that interview.
In Public Relations, companies LOVE getting free publicity. The opportunity arose, they accepted it. Perhaps there were remarks made to downplay the overly upbeat story, ...but maybe the journalist didn't hear them. Besides, maybe in the CEO's mind, the upbeat story is completely valid in long run, and this downturn qtr is an event, not a trend. If this were the case, he would be foolish to waste this opportunity to get publicity.

3. What business did the CEO have filing to sell 20M shares shortly after the interview
and before the bomb?
It depends on how many shares he owns and how often he sells. Some CEOs sell every quarter, and a lot more than 20M shares.

I do not know all that was in the CEO's minds at the time, but he may have seen the stock price getting ahead of itself and done people a FAVOR by popping the balloon before it jumped to 30 and popped on the bad news the next announcement would bring.

Thank you for listening... these are only one person's opinions.
e.
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