PSFT - 1999: The "Make-It-or-Break-It" Year? Message Board

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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year?

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Oct 29 5:00 PM EST

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To: Tom_ who wrote (311)	3/26/1999 2:15:00 PM
From: Michael Burry	Read Replies (2) of 1274

Duffield has made it clear in another publication that he had what it took for a fast-growing entrepreneurial firm, but that he and the board realize that given the new phase the company has entered and its current difficulties, a different type of manager would be necessary. On another note, Street.com has an article today "PeopleSoft and the People Who Leave It" Suggests that a lowering of the sales quota and commission restructuring implies anticipated difficulty with sales going forward for some time. Also implies via several analysts that follow the company (one at Soundview, whose analyst met with PSFT management for most of an afternoon in February) have concluded that PSFT's rank and file are starting to ship resumes out en masse to other firms. This jives with and maybe supports my analysis of the situation, but isn't anything earthshattering. So who's willing to buy crap at half the going rate for crap? Mike

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