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Technology Stocks : Macromedia...making a comeback? -- Ignore unavailable to you. Want to Upgrade?

To: Patrice Gigahurtz who wrote (2109)	3/1/1998 1:03:00 PM
From: John Nail	Read Replies (1) \| Respond to of 2675

It shows how well Clinton spin-meisters are that you refer to Clinton's proposal (of which I am not specifically familiar with) as his way to reduce taxes on Internet compaanies. I did just finish an article in Forbes about this issue so I will add my two-cents worth based on my impressions from that article. The Internet companies mostly refers to ISP's like AOL or Netcom. These services are only a few years old, so it took government awhile to get their act together, but the inevitable taxation of these services is appearing in local states. In other words, sales taxes on AOL. Now, the second Internet issue is the tax of goods sold over the Internet. As in, what state gets the sales tax (if there is one). For MACR, the second issue is more relevant, but I am certain that whatever Clinton's proposal is, it is not what is affecting MACR's stock. Here's my guess on Clinton's proposal. Being the great consolidator, he probably is arguing that we can't have all these states just slap taxes indiscriminitely on worldwide service providers like AOL. So, his bill probably sets up the parameters of how the sates and the Feds can share in this bounty (you know part of your AOL tax will go to pay for Al Gore's computer in every classroom; network in every school idea). Same thing with sales taxes on goods sold over the Internet; you know set the rules and how to divide the kitty. Of course, there is never any discussion about whether these taxes should exist. But again, I am sure Clinton will sell his Internet Tax bill as a "tax cut".

To: Patrice Gigahurtz who wrote (2109)	3/2/1998 8:44:00 AM
From: John Nail	Respond to of 2675

I just ran across an editorial in today's WSJ on the Internet Tax Freedom Act. I may have given P.C. short-shrift on this issue. Apparently, P.C> supports a bill that would place a "moratorium on levies that would target electronic business transactions." However, P.C. also states that for the Internet there "should be no special tax breaks." So, it appears that some taxation will occur and it is inevitable. Still, the bill will have no effect on MACR.

To: Patrice Gigahurtz who wrote (2109)	3/5/1998 11:06:00 PM
From: art slott	Respond to of 2675

I think this story had something to do with last weeks strength. Note Comments from P Jaffrey analyst. herring.com

To: Patrice Gigahurtz who wrote (2109)	3/12/1998 11:58:00 PM
From: Charlie J	Read Replies (2) \| Respond to of 2675

I don't think internet non-taxes or the ShockRave site have much to do with MACR's upward move. The high volume plus price increase shows that buyers are out there right now. Could it instead be that folks are finally realizing that MACR is moving in the right direction? How about: Flash, Dreamweaver and now FireWorks. Pretty interesting trio of web tools. And Director's franchise has still not been shaken by any other product. Also, FreeHand 8 shipped at the beginning of this quarter. There will be significant revenues from that upgrade cycle. Maybe most important of all is something that a lot of folks probably haven't noticed. Last quarter's results ($26M), with no upgrades, were compared to a quarter a year ago ($28M) that contained the upgrade cycle of FreeHand 7. This next quarter will have the first quarter of upgrades to FreeHand 8 and new revenues from Dreamweaver, which is supposedly doing well, and will be compared to a quarter a year ago that was quite low ($13M). At 8 and 9, I couldn't believe people weren't snapping up MACR shares (you'd better believe that I'm LONG). Even at 12 it is, in my opinion, very attractive. A good quarterly report next time, with good new products and upgrades appearing and in the pipeline, and this stock easily jumps to 16 and is headed back to the 18-20 range.