To: crdesign who wrote (6661 ) 3/10/2000 1:46:00 AM From: elpolvo Respond to
Sarah Lee Memo (translation):Date March 8, 2000 Our stock price is declining and we are as nervous about it as sheep in Texas. It ain't our fault neither - it's caused by them so called "informed investors" out there who read and write books like "New Rules For The New Economy". We know you're concerned about it too and we want to reassure you and let you know: WE DON'T READ CRAP LIKE THAT AND WE NEVER WILL!! Let us start by stating that, while we have challenges as we do every year, Sara Lee's businesses overall are doing very well, and our prospects for future growth remain strong. Let us start by stating that, while we do sorta hear some sorta faint, faroff, sucking sound, if we just keep chanting "nyaa, nyaa, nyaa, nyaaaaa, nyaa" loud enough we can't really hear it very much at all. We be growing. Slowly maybe. Slower than the new economy. But we STILL be growing dudes. -Our returns are expected to reach their highest levels ever; SEE? We be growing. -Our strong cash flow allows us to continue aggressive investment for internal growth, acquisitions, and share repurchase; We're pleased to inform you that we're going to invest every dollar we have in the Old Economic Business Model. -And, most important, we are convinced that our employees across the corporation are the best in the industry. Hang with us dudes! Let's all go down together!! As we look to the future, we are convinced that performance -- defined as strong top- and bottom-line growth and above-average returns -- will build value for our shareholders. We have significant growth opportunities in each of our lines of business and considerable resources to invest behind these opportunities. We continue to challenge our entire management team to set aggressive growth targets and to maintain our strong historical commitment to delivering plan. At the same time, we will commit the resources necessary to deliver the performance which will clearly differentiate Sara Lee from our peer companies, resulting in increased value for our shareholders. As we look to the future blindfolded and with two eyes on the past, we firmly believe that increased productivity in an obsolete business model, no matter how small in comparison to the new network business model is a far better strategy for wealth building than unleashing the inefficient discovery and creation of new opportunities. We continue to challenge our entire management team to "shut the freak up", "don't read any of that new economy crap" and keep on doing what used to work just fine so's we can beat the pants offa Procter & Gamble and make our stock the most undervalued equity in the "Old Economy"... at least in OUR view. In closing, we would like to thank each of you for your efforts and commitment to this company. We realize that it has never been more important for us to recognize the value of our human capital, and, Sara Lee's success in the future, as it has been in the past, will be driven by the collective efforts of our talented and dedicated employees. We know that you share our pride in what we have together built at Sara Lee and our vision of our company's future success. In closing, we would like to get down on the floor and beg you to hang in there wif us dudes! We're in this together and anyone who leaves this sinking ship for some better opportunity is scum of the earth.
