To: Golden Bear who wrote (26962 ) 11/12/1999 2:45:00 PM From: Carol M. Morse Respond to
These rumors are junk from 'reporters' who can't find anything else to write about. This has been going around for at least two years now in various forms....As a long time stock holder in PIXR (and AAPL), I can assure you that Steve Jobs will not let PIXR be bought. He has consistently said that he aspires to build PIXR into the "company that Walt Disney built". That doesn't mean the current Disney at all! What that means, according to SJ, is a company that produces an entertainment product that people will buy for the next 30+ year like Snow White. His most recent reiteration of his vision was put on yesterday by a live audio webcast hosted by Schwab. If you use Schwab, you can hear it by going to their website and looking under 'Signature Research', then 'CEO Speaker Series'. Jobs was very consistent, what he said was the same as at the last two annual meetings. He feels that Walt Disney had the right idea in creating animation that is the best, and he was very careful to make the distinction between Walt and (current) Disney. The reason that Disney agreed to the 50% deal with PIXR was because Disney tried and tried to hire away John Lassiter and couldn't. Disney desparately(sp?) wants in but they won't get in because SJ owns more stock than anyone else and, as he said yesterday, he hasn't sold any stock and isn't planning to sell any. The other thing that he said that put the bugger on this DisneybuysPixar thing, is that he plans to go to Disney when this current deal is over to renegotiate. He said he plans to 'look Michael Eisner in the eye', show him that Pixar can fund themselves 100% (ie.. he don't need no 50% funding from Disney anymore), and ASK HIM WHAT DISNEY CAN DO FOR PIXAR! Bend over Michael! So this is not a case of getting Pixar ready for sale to some bloated empire, but a case of pure Jobs.....He will have them eating out of his hands 100% next time around! (and Disney knows this).
