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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00130

-87.0%

Nov 7 11:47 AM EST

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To: Al Cano who wrote (29724)	4/16/1999 3:24:00 PM
From: Harold S. Kirby	Read Replies (2) of 45548

Al: WS & MM have sent their message day after day to 3com..."the bomb- ing" will continue until the Board and especially benhamou face "Reality"..."he has to resign". I respectfully disagree with your viewpoint that "restructuring" takes time...Apple Computer is a case in point...when Jobs returned...Apple was selling at $8/sh...the last time I looked...it is around $36/sh! He took a hold of the problem(s) very quickly and shareholders have been rewarded quite handsomely,primarily because of the "confidence" that WS and MM view Steve Jobs. WS and MM are not going to give benhamou another opportunity to "screw over them". Concerning "Darby" in Investor Relations Dept...she is nothing more than a prop with a "string" on her back...benhamou pulls it and his "message" repeats. The trouble with benhamou is that he suffers from the "Gen. Haig syndrom"..."Make no mistake...'I'm in charge here'"! When a General makes a major mistake and casualites are high...the troops lose confidence and only a change of Leadership will keep the morale and "fighting ability"in place. benhamou and his mgmt committed the "unforgiveable"...his arrogance and contempt appear to take precedence over "common sense"...that is why he needs to resign from his position as CEO and allow someone who has the "Respect" and "Confidence of WS & MM. Until that occurs...the "punishment" will continue. This guy has "burned" WS several times and they do not intend to experience a "repeat". Big Money is "Big Power" and Big Power associates with others of the same...ie Board members of other companies that deal with 3com...so it is quite simple...benhamou's name is "MUD" amongst these individuals!WS is saying to 3com..."When you are ready to do business...we'll do business...but not as long as benhamou is in place"! Window dressing is not going to cut it...throwing a bone to WS without any meat on it will be recognized very quickly...which we have seen. I'll ride out this situation as I had with IBM a few years past..IBM listened to WS and look at her now...the same will occur with 3com. Message to mr. benhamou...if you are reading this post...resign as CEO and concentrate your energies in the Board Room! Al & thread...hang in there...shareholders come Sept. will "demand" a change in Leadership! No doubt about it! Regards, HK

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