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Technology Stocks : The New QLogic (ANCR)

QLGC 16.07

0.0%

Aug 24 5:00 PM EST

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To: Kerry Lee who wrote (3945)	3/15/1997 5:04:00 AM
From: Madharry	of 29386

Let me be specific, I do not mean to call for everyone's head, just two <g>, and certainly not the three executives you mentioned. When I talk about management I am talking about the people responsible for giving out misleading information and demonstrating poor financial skills. I too see positive points on the horizon but as you can see many shareholders have now been forced out by the decline in the stock price which could have been avoided entirely had mgmt had the competence to raise a cushion when the stock was in the twenties, and probably could have been mitigated by a more appropriate release of information. I too have not heard of a pass through sale not being allowed so why stick another nail in the price coffin. According to someone this was a management and not an auditor decision. BTW I do not know this particular board of directors so I do not know whether they are happy or not but I have already owned stock in companies where financial mismanagement has been rewarded by directors by allowing the exchange of options on a 1 for 1 basis after a 50% decline in the price of the shares, thus allowing someone responsible for shareholder losses to suffer no loss himself but to then benefit greatly from the stock's future appreciation. Let me reiterate I am not calling for everyone's head and I certainly do not feel good about this. I am also not the one responsible for mismanaging the company or the decline in the price of the stock. Surely, there must be ways to raise funds without causing the share price to drop 30-40% and making the stock unmarginable in the interim? As you know I have been questioning mgmt credibility since the Sequent fiasco and have been chastised on this thread for it by several regulars, but the people who stayed away or did not add to their positions saved money.

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