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Technology Stocks : Autoweb IPO 3/22/99 AWEB -- Ignore unavailable to you. Want to Upgrade?

To: Crusader who wrote (603)	7/23/1999 7:07:00 AM
From: Kip518	Respond to of 696

July 22, 1999 23:24 San Jose newspaper columnist disciplined for stock deal PALO ALTO, Calif., July 22 (Reuters) - The San Jose Mercury News said Thursday it would reassign its high-tech gossip columnist, Chris Nolan, to another beat because of a questionable investment she made in a local company. Nolan, who had written the paper's Talk Is Cheap column, was suspended last week after it was reported she made thousands of dollars by investing in a local Internet company, Autoweb.com Inc. , at an insider's price that was made available to her by the company's Chief Executive. Nolan defended the deal, saying she was a longtime personal friend of the Autoweb CEO and that she had no plans to write about the company in her column. But the paper said she had at minimum created the appearance of a conflict of interest. The paper said two other editors would face discipline for their role in the matter. Nolan maintained she told one of her editors about the investment opportunity and that the editor had declined to indicate there could be a problem. Nolan ultimately made a $9,000 profit on the stock. In addition to losing her column, she will be suspended for one week without pay, the Mercury News said. Nolan was not immediately available for comment.