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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Mark Madden who wrote (1035)	7/19/1999 12:38:00 PM
From: Sam	Respond to of 1989

Mark, I agree with your comments. I don't know if the CC was part of a strategy or not, but of course SEG wants to buy in their stock, they said so, their board has authorized it, and they repeated it in the CC. The point is they have the cash now, they don't need more cash. Of course, they may believe (contrary to what they said in the CC) that their secondaries (in particular SNDK and VRTS) are overvalued here, and they may wish to capitalize the investments at or near these prices if so without immediately selling the stock. However, they said that they don't want to hurt the companies, and if they do create some sort of hybrid tracking stock, people will just use it to create arbitrage opportunities of one sort or another. Luzco should know this, and should know that anything he does or doesn't do is going to affect the stocks for better or worse. If he holds, it reduces the float, and helps the stocks. If he sells them outright or in any oblique way, he will hurt them, though the manner in which he sells can hurt them more or less. Sorry for being so longwinded. The important point in all that was I agree with you, and hope that they have the fortitude to keep the pressure on for as long as it takes. s.