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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: I. N. Vester who wrote (1794)	12/23/1997 12:49:00 AM
From: FMK	Read Replies (2) \| Respond to of 27311

It is very possible that Bill Masuda, like Cal Reed, has endured several years without a raise and shared the pressure of the dismissed lawsuit. Having fulfilled obligations of getting the production equipment running, including line 1, he feels it is time to move on. Personally, I have enjoyed starting up systems of production machinery rather than staying on to operate them. . There is excitement when it runs for the first time and when problems are solved. I have returned to production facilities years later and found many of the same people operating the same equipment. For me, it wouldn't have been enough challenge. The situation may be similar for certain people at Valence. We may be seeing inevitable changes during the transition from R & D and startup to the production phase. I spoke tonight with a senior analyst not involved with Valence. Comments were simply that a team's makup often changes with CEO's. I am not aware of any developments that would prevent Q1 production and continue to believe the stock is an incredible bargain. Regards, FMK