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Technology Stocks : Novell (NOVL) dirt cheap, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (20459)	2/28/1998 12:30:00 AM
From: Elmo Gregory	Read Replies (1) \| Respond to of 42771

Hi EKS - There is no hope that any change in the BOD will occur this next election. The board of directors have nominated themselves again without alternatives. ---------------------------------------------------------------------- Since last year's annual meeting of shareholders, the Board of Directors has adopted a resolution decreasing the number of authorized directors from seven to six effective February 9, 1998. DIRECTOR NAME PRINCIPAL OCCUPATION SINCE AGE ---- -------------------- -------- --- Eric E. Schmidt Chairman of the Board and Chief Executive 1997 42 Officer of Novell(1) John A. Young Vice Chairman of the Board of Novell; 1995 65 Retired Chief Executive Officer of Hewlett-Packard Company(2) Elaine R. Bond Retired Chase Fellow/Senior Consultant of 1993 62 The Chase Manhattan Bank, N.A.(3) Hans-Werner Hector Cofounder and former Member of Advisory 1995 58 Board of SAP AG, Germany(4) Jack L. Messman Chairman and Chief Executive Officer of 1985 57 Union Pacific Resources Group, Inc.(5) Larry W. Sonsini Member of the law firm of Wilson Sonsini 1988 57 Goodrich & Rosati, Professional Corporation(6) sec.gov ---------------------------------------------------------------------- The class action lawsuit might encourage one or more of the directors to resign which would make way for new blood, but I don't believe it's likely to happen. There was no opportunity last year or this year for shareholders to participate in the nominating process. And it appears that no one shareholder or group of shareholders have the interest or means to change the process. Perhaps the only hope of changing upper management and the board of directors is by means of a lawsuit that will force accountability. But the officers and directors are probably insulated from financial liability either through insurance or the controlling laws of the state of incorporation. However, criminal liability might still apply. Disclaimer: The above is only my personal opinion. Elmo