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To: Joseph Beltran who wrote (491)	2/25/1998 8:04:00 PM
From: Alfredo Nova	Respond to of 1250

Joseph, agree, this is very serious problem. I hope that at least Mr Pino will come out with a more detailed and definitive explanation soon. I am not so terribly mad because I bought many shares below 14 and sold them at 17.5 just 2 days ago. I am left with shares bought at 20. Will see what to do with those. My nature of short term trader saved me (in part). I hope Mr Pino will overcome his stress and look at how to rebuild the investors and clients confidence. regards, Alfredo

To: Joseph Beltran who wrote (491)	2/26/1998 3:42:00 AM
From: michael c. dodge	Read Replies (1) \| Respond to of 1250

Good post. You see the situation clearly. Compare the current circumstance here, with similar situation at Nam Tai. You own the management of one man. Whether he is incompetent, as here, or self-interested, as there, you own the wrong enterprise. Write this down in the rule book, next to: "If the CFO resigns suddenly and without explanation, sell the stock." One can see how people who have managed money for several years arrive at what seem arbitrary rules for management conduct, and act on those rules unilaterally and immediately, when they are breached. Not a time for denial. (All IMHO, of course.)