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To: Richard Tauber who wrote (17773)	4/19/2000 4:17:00 PM
From: DiB	Read Replies (1) \| Respond to of 19700

Richard, jmho: The main objective of the IPO is to raise money. How the company behaves in the aftermarket is irrelevant as long as it does not crash. If the company is perceived to be undervalued then it is rewarded on the IPO day by the valuation that is higher than the valuation at pricing. If ALTA postponed because the underwriters said so, meaning that Morgan Stanley, etc. refused to pay 20 bucks per share, that's fine with me. However, if they postponed because they could not get 170 bucks per share in the aftermarket, then this shows that they are trying to time the market which I think is silly. In the long run the market will adjust the company valuation anyway. JMHO.