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Non-Tech : Procter & Gamble (PG) -- Ignore unavailable to you. Want to Upgrade?

To: Jim@Inland who wrote (131)	3/12/2000 9:01:00 PM
From: ayn rand	Read Replies (1) \| Respond to of 196

Sunday, March 12, 2000 P&G leader aims to revive confidence CEO Jager, in rare interview, says dismal week was 'an aberration? The Cincinnati Enquirer Procter & Gamble chief executive Durk Jager is on a mission: to prove to his employees, his shareholders and Wall Street analysts that Tuesday's stunning announcement that the company significantly miscalculated earnings was merely an aberration. It's a tough assignment. After being trampled all week, P&G's stock closed Friday at $53. It's also 55 percent below January's all-time high (on a split-adjusted basis). So he is risking millions of his own money to make the point. On Thursday, he bought 50,000 P&G shares. enquirer.com But the 30-year P&G veteran is confident he can prove this is something we can fix and correct and move on beyond it.? I think the stock is way undervalued right now. I've been in the market buying, so I have confidence in the company. And we've had numerous people getting into the market with Procter & Gamble. (Mr. Jager said he bought an additional 50,000 shares in P&G stock options Thursday). In fact, we've had more new openings of accounts here (at the company's shareholders services window at its downtown Cincinnati headquarters, where people can buy shares of P&G common stock directly) in the past two days than we normally have in a month. (On Friday), our senior management (took) all the cash compensation beyond their salaries in stock options. We have about 300 senior managers in the company. Normally with bonuses you can select whether you want to take cash or stock options. All of us will go out and take it in stock options. Why? Two very simple reasons: No.1, senior management is responsible. Me the most. And we do not take cash out of the company at such times. Secondly, we think we will make a lot of money with these stock options. So we're kind of thinking of ourselves as well. We have been in the market on a continuous basis. We've been buying back shares for two purposes. We generally can buy back shares that we use for our senior management compensation programs so there is no dilution to the regular shareholders. And second, from time to time, we've felt that our stock was way undervalued, and we used that to buy back certain shares. "That's about as much as I'm legally allowed to be saying."