To: Bald Man from Mars who wrote (6309 ) 7/25/2000 11:08:22 PM From: ColtonGang Read Replies (2) | Respond to of 24256 VERT follow through........Goldman Sachs analyst Jamie Friedman said Galli's addition should be seen as bolstering VerticalNet management's strength. He noted that Hagan, the COO, moved into the background to let others run the company as it grew. "In the war for talent, this is a huge win," Friedman said. "Joe brings with him the ability to meet the structural challenges of managing a company with 600 plus employees and multiple lines of business." Friedman said Goldman will host a meeting on Friday with Walsh and Galli at New York's Harvard Club. Friedman placed VerticalNet on Goldman's recommended list last week, the firm's highest rating. Goldman has not performed underwriting for the company. Investors, at least, didn't immediately see the switch at the top of VerticalNet one day before it announced earnings as a negative. The stock was up 1 13/16, or 3 percent, to 58 9/16 in afternoon trading. Chatter about the impending resignation first emerged early in the morning, apparently based on a call that Donaldson Lufkin & Jenrette analyst Jamie Kiggen gave to his firm's sales force. Kiggen was unavailable for comment, but a spokewoman at the firm did confirm that he "did go out with a call on that this morning regarding this issue." "That cushions the blow," said Dan Ries, e-commerce analyst at C.E. Unterberg Towbin, of the move to VerticalNet. It suggests that Galli had an economic incentive for leaving. It's far worse when an executive leaves for "personal reasons" -- which the Street has come to recognize as code for when a troubled company gives someone the boot. Ries rates Amazon a buy. His firm has done no underwriting for the company.