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To: John Floyd who wrote (7496)	11/6/1997 3:49:00 PM
From: Michael	Respond to of 14577

<Combine this with near term inventory writedowns and lawsuits, and you have a $2-$4 stock.> I think this talk of going to $2 or $4 a share is crazy. You are all hallucinating. There is always extreme resistance when you approach book value. Particularly when book value is below liquidation value. The fab is and will continue to be a very valuable asset. It also has $120 million in cash and short term securities. There are what will keep this ship from sinking no matter how screwed up the company and management are.

To: John Floyd who wrote (7496)	11/6/1997 4:13:00 PM
From: Tom Terf	Respond to of 14577

Yes, the new video /graphic chip upstarts are taking new designs.. so you are right by mid-1998 .. and they will be locked out for 1998 Christmas seasonal build-up. There is a lot of downward market leverage on these guys now .. and the upcoming audit and associated legal intanglements don't help. Gary Johnson mismangement tactics and their own arrogant style certainly hastened their demise. They had their day in the sun for while. You can't stay on top too long before you have to step aside.. Stock is down to 7 1/2 at the close. It should trade in the range of 6 3/4 to 7 3/4 for while until other news comes out... then it will find its way down to 4 and change. I don't think we'll see 2. They can liquidate themselves far above 2 ..