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Technology Stocks : Seagate Technology - Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: Gus who wrote (1594)	3/31/2000 8:03:00 PM
From: Sam	Read Replies (3) \| Respond to of 1989

Gus, As usual, Gus, your eloquence is stunning. I don't begrudge Silver Lake, Texas Pacific or Veritas either. They are doing what any capitalist shark dreams of: getting a great deal. However, the BOD and management have both an ethical and a legal duty to represent shareholders. They would scream bloody murder if an employee were, e.g., to reveal secrets to a competitor or a customer which would enable that party to get an edge on them in their business. What they are doing is actually much worse than that vis a vis the shareholders. You say, <<If they succeed in convincing the institutional investors to go ahead with this deal, or a sweetened version of it, then, my friend, that would be a supreme feat of free market persuasion and they would deserve all the money they make from taking SEG private at this point of their product cyle and industry cycle.>> Well, I disagree with that. They don't "deserve" it, any more than, for example, a military contractor deserves to get paid $1,000 for a wrench, even if they manage to "persuade" the government to pay it. They may get away with it, I don't know, we'll have to see. But getting away with doesn't mean that they "deserve" it. Or so I, with my usual idealist naivette, believe. It seems to me that much more than "100 million dollars" will needed to "take care of it" with the lawyers and institutions; the pot is so potentially sweet, and the target is so invitingly large (not to mention the fact that some of the most ferocious securities lawyers have already tangled with Seagate in the past and have some grudges to settle), that I can't believe that there won't be some very juicy lawsuits filed when the dust settles a little more. Sam