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Pastimes : From A to Zeev" -- SI Sacks Zeev -- Ignore unavailable to you. Want to Upgrade?

To: Jay Lowe who wrote (656)	12/3/1999 6:24:00 PM
From: Zeev Hed	Read Replies (2) \| Respond to of 708

Jay, ULBI admits to problems with yields but all he said, if memory serves that he does not expect to have a PO before the end of this calendar year, I do not remember him saying they are a year behind. You also must recognize the drastic difference in style between the two outfits, VLNC made a very big bet (which includes so far $180 MM or so in cumulative losses) while ULBI built a business around their long life Li batteries while investing moderately (relative to VLNC $180 MM investment) in the Li polymer technology. VLNC was brushing with failure, while ULBI could survive even a set back or a complete write off of the Li-polymer business. Long term, such big bets may pay off handsomely (in very large capacity when ready for VLNC), but the risk of failure where not insignificant, and despite the investment, VLNC is a good year behind schedule. Can they execute from here on? I sure hope so. But if they can, why is Lev leaving just before harvesting the fruits of his persistence? Zeev

To: Jay Lowe who wrote (656)	12/10/1999 7:13:00 PM
From: Dennis Roth	Read Replies (1) \| Respond to of 708

On Tuesday at the annual meeting he said " We believe we are on path to be shipping commercial quantities of a polymer cellular phone battery in the first half of calendar 2000. As we go through our qualification of product and process we'll hone this date further." >>What I don't get is that the ULBI CEO is basically admitting in a CC that they're 12 months behind VLNC with no clear way to go if manganese proves significant. If you want to see what he really said in the CC go to ourworld.compuserve.com If you want to see what he said Tuesday at the annual meeting go to ourworld.compuserve.com