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Non-Tech : Simula (SMU) -- Ignore unavailable to you. Want to Upgrade?

To: michael c. dodge who wrote (1124)	5/22/1998 7:46:00 PM
From: Noblesse Oblige	Read Replies (2) \| Respond to of 1671

To the "thread," There has been a contribution made on the Yahoo/Simula "thread" that pretty strongly suggests that the present Chairman, Stan Dejardins, will move to a position of Chairman Emeritus some time in June. (The next Board meeting is June 13th, following the annual meeting.) If this poster is correct, long circulating rumors about Don Townsend's ascent to Chairman would have come true. However, it also implies that some new blood will be coming into the company, as the "visionaries" are likely to be complemented with at least one new executive with line responsibility. For my own part, I would welcome that degree of "balance," as Simula has been much more effective in creating markets than "profiting" from them. It should be obvious to anyone more than the most casual observer that the company has developed two significant new businesses in the last couple of years. In one, airline seating, it may well prove to be the first effective new competitor in about a quarter century, achieving a 10% market share within two to three years. In another, it has developed a new protective technology utilized in autos, established itself as the early leader (and from my perspective, the morning line favorite) to garner at least 10% of that market in the next couple of years. What all of us need now is some black ink. And, it wouldn't hurt to see the auto supply portion of the business spun off to shareholders, though that shouldn't come until the management KNOWS it has another agreement in hand. My own view is that this portion of the business...with the inclusion of one or two additional contracts...will be worth more on its own than the entire capitalization of the company as it was priced today. Have a good evening.