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Non-Tech : BJ's Restaurants Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (554)	7/16/1999 9:58:00 AM
From: Lhn5	Read Replies (1) \| Respond to of 865

The final decision on such a scenario would still be up to the board, who would still have fiduciary responsibility to ALL shareholders. And this is a board who turned down $2 a share months ago when there was still uncertainty about Woodland Hills and Arcadia. Bob, I really don't see that management led buyout you alluded to as even a remote possibility. The $2 turndown would make a the neccesary price to satisfy other shareholders VERY high. I don't think any long term shareholders want to just turn their stock in for a quick profit like that when some may think even today the stock price is as only a SMALL percentage of its fair value. Management stuck with shareholders through the Pizza Loca attempt--I think they will continue to do so. Any weakness in the stock these few days may be due to a few sellers who were waiting for that quick profit from a higher bid from Pizza Loca. Actually I think that with the more cohesive team now remaining, no threat of dissension via Pizza Loca, CHGO could make a much more attractive aquisition to a larger company some time in the future when all the chips fall into place. All of the above just my opinion and could be wrong.