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Technology Stocks : General Magic -- Ignore unavailable to you. Want to Upgrade?

To: Thotdoc who wrote (8973)	8/19/2000 6:26:22 PM
From: Seconds Out	Respond to of 10081

G, yours is truly the great post. Your analysis is lucid, and it hits the nail right on the head, imho. Fwiw, I am closer to your timeline for the end of the race. Kudos to Dgurgle for providing the chart. Seconds Out.

To: Thotdoc who wrote (8973)	8/19/2000 9:16:21 PM
From: John Madarasz	Read Replies (1) \| Respond to of 10081

Thotdoc...along your timelines I think this chart is even more relevant... siliconinvestor.com Also, on this longer term 40 month chart, don't forget to include the two 2-1 stock splits that LHSP has provided... one on 4/16/98, and one on 5/15 of this year. I think it would behoove all current and prospective investors in GMGC to keep a close eye on GM as well, as they are General Magic's main partner here and at this time in the GMGC business model show the only potential for any true revenue streams to speak of. There is an awful lot going on there... Will Icahn Shake Up Gen'l Motors? He May Try To Force Sale Of Hughes By Antonio A. Prado Investor's Business Daily People have tried to shake up General Motors before. Ross Perot tried after selling his EDS Corp. to GM. He eventually sold his GM stock back to the company, and was sent packing. Now raider Carl Icahn will give it a try. He told the Securities and Exchange Commission he wants to buy as much as 15% of GM, worth $5.5 billion. GM's total market value is about $37 billion. Analysts don't believe he has the muscle to force GM into anything serious. But they say his move would add to investor pressure for a spinoff of Hughes Electronics Corp. Investors liked the news. GM's shares leapt 3 to 68 7/16. GMH, the Hughes stock, rose 2 1/8 to 31. GM declined to comment on Icahn's motives, but in a statement Friday the automaker said its shares are undervalued. "It's easy to understand why there are investors out there who see it as an attractive investment," GM spokeswoman Toni Simonetti said. GM reiterated that it is still looking into its ownership structure in Hughes, which owns satellite television provider DirecTV. "We continue to look at ways to further unleash value from our ownership of Hughes while preserving our strong credit ratings," GM Chairman John F. Smith Jr. said. He said the company has returned $34 billion to shareholders since '97. In May, the automaker completed a swap offer of Hughes shares for 14% of its own common. The swap cut GM's stake in Hughes to 43% from 62% and distributed more Hughes shares to its common-stock holders. The company also spun off its Delphi Automotive unit in 1999. Analyst David Bradley of J.P. Morgan expects GM to spin off the rest of Hughes next year. "(Icahn's) highlighting something important, that GM has $22 worth of Hughes per GM share price," he said. "It's not reflected in the GM share price. And he'd like to see it reflected." A second analyst, who wished to remain unnamed, told Reuters that Icahn was interested in combining Hughes with other companies. "This is not about spinning off the rest of Hughes. I think this is about forcing every possible combination for Hughes," the analyst said. Rumors and reports have surfaced in the last nine months that Rupert Murdoch may be interested in combining his satellite systems at News Corp. with Hughes to create a global satellite pipeline. Some reports have said AT&T Corp.'s Liberty Media Group could also enter the equation. Others say Walt Disney could be interested. "Icahn's addition to this whole mix adds speed to the equation," the analyst said. "We now have a situation where there's a great asset, and now we have a catalyst." GM said it learned on Wednesday that Icahn was planning to buy GM shares. Icahn has gained a reputation as a corporate raider by taking stakes in companies like Trans World Airlines, Phillips Petroleum and USX Corp. and pressuring them to boost shareholder value. His other holdings include J.C. Penney, CSX Corp. and Federal-Mogul Corp. In June, Icahn walked away from a campaign against Nabisco Holdings Group with a $600 million profit on his 9.6% stake. GM is the country's second-largest company in sales, with $185 billion the last 12 months. ExxonMobil is first at $201 billion. Yet smaller Ford, which has $170 million in sales, fetches a higher market value of $51 billion. And Ford makes more money. Since 1997, Smith said in his statement, GM has "achieved record earnings, underscoring our commitment to do more with less . . . improving earnings while utilizing less shareholder capital." GM also announced on Friday it's continuing a $1.4 billion stock buyback. In addition to that buyback, GM earlier this year gave its stockholders $9.8 billion in shares of Hughes Electronics in return for $6.8 billion in regular GM stock. While some investors have pushed GM to spin off Hughes, Smith and other top executives have said Hughes' technology provides a competitive advantage in the auto industry. investors.com Best Regards, John M.