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Technology Stocks : Cascade Communications (CSCC)
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To: Brian C who wrote (2453)2/24/1997 3:58:00 PM
From: Bull4Now   of 3743
 
In the most recent prospectus I received from Cascade (about a week ago) I believe it was stated that Smith owned (and/or had the option to buy in the few months following the date of the prospectus) almost 850,000 shares of Cascade. If this is correct, his sale represents over 10% of his total (potential) holdings. [I don't have the prospectus with me at this time, but maybe someone else can confirm these facts... it's in the most recent prospectus from 1996].

I contend that it is poor PR for a CEO of a company to sell ANY shares in the company he operates during a time when investors are already skeptical about the company's future. If one looks at this action on a purely investment stance, ask yourself if you would sell 10% of your holding in a company's stock if you thought its value would double in the next six months (I wouldn't). I think Smith has a very good idea of where this company is headed. I could understand selling these shares if there were some sort of emergency Smith needed the cash for, but that's not the reason PR is giving.

I admire Gates for the risk he takes in holding a huge position in Microsoft. This does two things: 1) Motivates Gates to make Mircosoft a success, and 2) Further instills confidence in investors' minds that Microsoft is a good investment. Cascade might take notice of this approach.
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