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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: David E. Taylor who wrote (43390)	6/2/2000 3:42:00 PM
From: mr.mark	Respond to of 45548

more details about the anyday purchase and how their technology will be used with palm... Palm Buys AnyDay for Web Savvy Web-based calendar developer will help Palm expand from desktop synchronization to a mobile portal. by Cameron Crouch, PC World May 31, 2000, 4:52 p.m. PT Imagine a time when your Palm not only helps you book flights but also puts your itinerary in your calendar and alerts you to delays. And when you land, it offers local information and dining recommendations. That's one scenario Palm envisions, thanks in part to its acquisition Wednesday of AnyDay, which makes Web-based calendar tools. Palm hopes to incorporate Web-based personal information management services into a mobile portal, accessible from a Palm, desktop PC, and other kinds of wireless handhelds. Web Calendar on the Go AnyDay already synchronizes with Windows CE handhelds as well as corporate calendars like Outlook and Lotus Organizer. Palm doesn't plan to change that. Rather, Palm will take AnyDay Web-based calendaring experience and make it mobile, says Bill Maggs, chief technology officer at Palm. "People will be connecting to our mobile portal through a variety of devices including mobile phones," Maggs says. Palm hopes to work with AnyDay to develop Internet-based time and location-based services, Maggs says. "You'd be able to immediately buy things that you've said you were interested in and get timely information like notifications of flight changes and calendaring." Synchronize With the Web Now, AnyDay users can store, access, and update their calendar information at Anyday.com via a PC or handheld cradle. With its plans to eventually support wireless handhelds and phones, Anyday will help Palm move its desktop software to the Web. Then, its PDA functions can be more easily accessed from myriad devices. "Personalized information is much more useful in wireless world," Maggs says. "You need to have a location-independent place where you can keep information securely that can be accessed from multiple devices." AnyDay will also work with Palm to capitalize on time-sensitive e-commerce, says Steve Watts, chief executive officer and cofounder of AnyDay. For example, birthday reminders in your calendar could immediately take you to a gift site all on the Palm in your car. "It all starts with your calendar," Watts says. pcworld.com

To: David E. Taylor who wrote (43390)	6/3/2000 3:34:00 PM
From: XBrit	Read Replies (2) \| Respond to of 45548

David, there is unfortunately a conflict of interest here. COMS employees, including the executives, have a strong interest in COMS being as low as possible on 7/27, because that way the makeup in their unvested options will be a maximum number of new COMS shares. Taking your figure of 27M employee options from an earlier message, implies issuing about 150 Mil new shares of COMS on 7/28 if the current COMS/PALM prices remain unchanged until then. If undiluted COMS is worth $15 per share to investors, then diluted COMS would only be worth 15*350/500, or $10.50 per share. Then the executives and employees would walk away with a huge windfall, effectively stealing a big chunk of the company from other investors. On the other hand, if management takes their duty to stockholders seriously, they should obviously implement the promised stock buyback by purchasing of COMSv shares in the open market BEFORE the repricing cutoff date of 7/28. That way COMS will move to a more reasonable price in synch with COMSv, and extreme dilution can be avoided. I'm starting to get a bad feeling that the smart money doesn't trust management on this one. I think the low current valuation of "naked COMS" means people think that management is going to line their own pockets and screw the shareholders.