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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (4023)	3/18/2002 2:27:25 PM
From: Dave Gore	Read Replies (1) \| Respond to of 16631

RATL NOTE --- crooked or unethical CEO? Pretty ugly story at Briefing.com. 12:59 ET RATL Rational Sftwr questioned in NY Post for spin-in deal (16.90 +0.28) -- Update -- NY Post article attacks RATL executives for "spin-in" deal. According to article, Chairman Paul Levy and CEO Michael Devlin "created a company called Catapulse Co. and issued themselves roughly half its stock, then capitalized the business with $50 million from Rational Software." After about a year, "Paul and Mikey had Rational buy back Catapulse for $445.2 million in Rational stock, of which $200 million tumbled into the gaping pockets of our two heroes."