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To: Kerry Phineas who wrote (33667)	5/18/1998 6:57:00 PM
From: Bipin Prasad	Respond to of 53903

Kerry, Not to be too terribly stupid, but what are the general conditions of most forward sales? Do you actually short the stock you own? BPP's statement about renewing contracts has me confused. Sorry I confused you with forward sale. Bank is taking short position when they make such contracts. Deravative folks can explain you better than me. regards, BPP

To: Kerry Phineas who wrote (33667)	5/18/1998 7:45:00 PM
From: Kok Chen	Read Replies (1) \| Respond to of 53903

MB, a few months ago Joel Parkinson resigned from another job as CEO of a small co. called Eight X Eight... Actually, when he took over the small company, it was called IIT. IIT was started by a co-founder of Weitek. When Weitek finally had a house cleaning, one of the co-founders went on to run C-Cube, and this other one started IIT. IIT initially built math coprocessors for the 80386, then went on to work with Cosine transforms, JPEG and MPEG. Within a couple of weeks of taking over IIT, Parkinson booted out nearly the entire upper management team (including the founder). He later renamed the company 8x8 (JPEG works on 8 by 8 pixel blocks :-), marketed their first product (a video phone), and took the company public. Stock wasn't doing too well after a year, if memory serves. Neat logo, though :-) :-). I hadn't kept up, and didn't even know that Parkinson has left 8x8! There is an S.I. board for 8x8. I should go take a peek :-). Regards, Kok Chen