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Technology Stocks : THREE FIVE SYSTEM (TFS) - up from here? -- Ignore unavailable to you. Want to Upgrade?

To: raefon who wrote (1136)	3/25/1998 10:31:00 AM
From: Noblesse Oblige	Read Replies (1) \| Respond to of 3247

Hi Raefon... Vis-a-vis your comments about Mr. Wren replacing Mr. Buchanan. I was under the impression that this linkage was already operable and part of the TFS's internal succession plan. Can you illuminate on whether something has changed to make this more likely in the short run? As for me, my professional opinion (for whatever it is worth), is that immediately following a Buchanan retirement the stock will jump ten to twenty percent. After all, anyone that replaces him would have to be more communicative with the "Street". And, I have no doubt that anyone would be more receptive to "Street" input and concerns about shareholder wealth creation. Remember, you heard it here first. Have a good day.

To: raefon who wrote (1136)	3/25/1998 10:32:00 AM
From: dfloydr	Respond to of 3247

Thanks raefon for doing our homework so promptly. Much appreciated. I read the Annual on FreEDGAR and like you and N.O. saw no horrible surprises - other than a few pay hikes that probably cost a couple of cents a share - if anything, as written, the pieces would seem to be in place for N.O.'s scenario to play out with only some question as to the exact timing of things. The capital plans are interesting: First: one does not embark on that big an increase (3mm in 97, 16mm in 98)in spending without some assurance that it is warranted --- count that as promising, Second: but spending that much in those parts of the world can often turn up delays, overruns and other surprises --- but usually should not be more than +10 - 20% --- which could be a chunk of earnings depending on the cause and the accounting. Floyd