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Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: AK2004 who wrote (49835)	8/4/2001 5:06:50 PM
From: ptanner	Read Replies (2) \| Respond to of 275872

Albert, Re: "[Stock price management] is not a conspiracy. The goal of every business is to optimize shareholder's equity value." I become a little skeptical though when the level of perceived stock price management is in gross contrast to business conditions. Publicly owned companies should be seeking to maximize their long-term performance but the market wants a final score every quarter and considering short-term stock prices would seem to be a waste of management energy. Wouldn't it be simpler just to implement an automatic stock buyback program (both AMD and INTC have buybacks authorized) to provide some stock price stabilization to protect the interests of shareholders that need to sell? And when insiders reduce their holdings just prior to a warning it looks bad - even if the timing was set by calendar window opportunities rather than fully by choice (acting on insider information while holding up a public front of "all is fine - $1.50 this year"). Now, in the specific case of try to manage AMD's stock price to enable the forced conversion... this might have been a valid long-term achievement for shareholders and was a known risk for the bondholders. -PT