To: Warren A. Wilbur, Jr. who wrote (27664 ) 11/1/1999 1:23:00 AM From: Warren A. Wilbur, Jr. Respond to of 40688
One more article from Fortune to drive in the point of share holders value :>>>...No company could be more Spanish than Telefonica, the country's national phone giant. Walk down a street in Madrid, and sooner or later you'll stumble across Telefonica engineers wiring the guts of the city. Surf the Web in Barcelona, and before long you're bound to click on Ole, the locally based portal that Telefonica recently bought. From fixed-line phones to cyberspace, Telefonica connects Iberia--a point made graphically by a vintage mural at the group's head office on Madrid's swanky Gran Via. As you admire the trade winds painted across the atrium wall, it's easy to assume that Telefonica is just another quaint old Latin monopoly. Think again. Since February 1997, when the government sold its remaining 21% stake, Telefonica has undergone the most radical shakeup of any former state telco in Europe. Its chairman and CEO, Juan Villalonga--a 46-year-old boardroom bruiser recruited from Bankers Trust--has slashed the payroll, revamped the corporate structure, and forced Telefonica's famously conservative middle managers to heed the American gospel of shareholder value. Now Villalonga aims to catapult Telefonica--currently 193 in the FORTUNE Global 500--onto the world stage as one of the planet's top five telecom companies. ...<<< GZ & JPC MUST realize they NEED investors ! (and I am not talking about .20 PP B.S, I am not talking about 'gifts' I mean INVESTORS) They must realize that without investors they can shut down their 5th Ave office and GZ will not get to jet around the globe. They will not have investors if folks don't see returns. We are now at a point where we MUST see some return to our investment, not PRs but share value ! So, again my point is they should / must get institutional support and have as FIRST priority > Nas listing. As they said:>>>>... the American gospel of shareholder value. <<< Good day !