Corel - Investors with no Humor Message Board

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Technology Stocks : Corel - Investors with no Humor

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To: A. Reader who wrote (841)	11/13/1998 5:56:00 PM
From: A. Reader	Read Replies (1) of 1094

Corel's visionary boss played fast, loose with facts, book says ....The book reveals that in 1987 Corel was forced to withdraw its first stock offering because auditors discovered that Corel was inflating sales figures involving its dealing with charities. Mr. Cowpland donated large sums to charities that, in turn, used the money to buy Corel products, accounting for half of all sales during the period leading up to the stock offering. ....The book offers fresh insights into the Corel takeover of WordPerfect, showing that despite claims to the contrary there was a culture conflict between the two organizations. One problem was that the Utah Mormon culture believed in the 9-to-5 workday because it prized family life. Corel, on the other hand, ate up its younger workers and dismissed some female employees because they wished to work part-time to spend more time with their children. Perhaps the biggest problem with the WordPerfect purchase was the decision to fire that company's U.S. sales force, a critical mistake in trying to preserve even a small part of WordPerfect's corporate market share. ottawacitizen.com

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