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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (15252)	1/30/2001 10:03:26 PM
From: WTSherman	Respond to of 19080

<That really, really sucked imo. And the amazing thing is the division had a bunch of star engineers in it. < It was understandable nonetheless. After all, the $80M that ORCL is putting up to support LE's yacht racing hobby had to come from somewhere and we know that Larry doesn't have that kind of money himself, right?

To: Lizzie Tudor who wrote (15252)	1/30/2001 10:06:06 PM
From: DeadHead	Read Replies (1) \| Respond to of 19080

Bingo. Almost everyone was offered another job within Oracle. All transfers were blocked by upper management for months before the sale, and then they were out of the question afterward. Being a big stock holder, I have to wonder what was the logic behind this. Also, I should mention that the "buyer," nCube (also owned by larry), had no idea what to do with everyone. Obviously, most of the people in the division didn't go to nCube; others have since left. On the surface, this appears to be a major fiasco, but I have to wonder if there's something less obvious behind the decision to fire everyone in the ITV division in this manner. The recouped unvested options is a pretty obvious plus, but I'm not sure how this translates to the bottom line on a balance sheet. However, I suspect that's small change compared to the income they may save by declaring a tax loss.