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Technology Stocks : 3Com Corporation (COMS)
COMS 0.00170-19.0%Dec 26 9:30 AM EST
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To: bgg who wrote (29068)3/19/1999 7:02:00 PM
From: Mike Gordon  Read Replies (2) of 45548
 
Bgg: Just a few comments about your post;

"3Com's No. 1 problem is not its management ."

As a stockholder, I hold management totally responsible for my company.

"3Com has serious fundamental flaws in its business mix that will doom it to these nasty downturns."

Management has been hired to neutralize these problems by allocating resources to more profitable ventures.

Regarding the balance of your points, I draw an analogy the old AT&T under Bob Allen. AT&T's customers, stockholders, and employees all suffered because management failed to see future needs of communications services. Additionally, Bob Allen and senior management failed to face the press and their stockholders. (I do give Allen credit for the birth of Lucent and NCR. It was a brilliant move.) In contrast, Mike Armstrong recognized communication needs of the future. He took every opportunity to face the press, stockholders, and employees. He committed to goals.

The characteristics of the old AT&T are seen here with 3COM. Management needs to get off their ass and instill motivation to each of their employees, retire and fire those that won't conform, and relate to the owners (stockholders) via the press. Commitments must be made with time lines. 3Com must concentrate on leadership. Managers who can't lead must go. Employees who aren't team players must go. Those who remain should be rewarded with company stock and/or options.
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