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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Starowl who wrote (2655)	6/13/1998 11:12:00 AM
From: Jim Switz	Read Replies (2) \| Respond to of 5944

I think the Bear Stearns conference (on Monday, isn't it?) will provide a crucial opportunity for management to prove their worth and justify the multi-million-dollar compensation packages. I haven't seen any evidence the they have generated confidence in the company's prospects, but perhaps this conference offers an opportunity to do so. It would be awfully nice to hear an announcement of a Symbios resolution; this is a big uncertainty hanging over us. I'd also like to hear an explanation of where the R&D money has been spent and how/when it's likely to generate revenues and earnings. Does anyone have access to conference presentations?

To: Starowl who wrote (2655)	6/13/1998 12:47:00 PM
From: Mark	Read Replies (1) \| Respond to of 5944

Starowl, I think you have raised a valid point, and I would just like to qualify my earlier post before I distort anyone's perceptions. My personal experiences suggest that - 1) the CEO of an organisation has a phenomenal impact on the performance of that organisation (more so than anyone who has not experienced this would naturally assume), 2) CEO's of the highest calibre are rare animals, I have NO personal experience of either Saviers or Adler, and the only valid observation I will make is that the performance of Adler is a matter of record, and that I suspect that the guy was a star. I have further observed that it takes a minimum of 6 months for an incoming executive to make an impact (to the bottom line), and that 2 years is widely regarded as the longest credible proving period. I would suspect that if Saviers is a rising star, then if he has learned his craft under Adler he will have had a good role model. However, having Adler as a mentor may or may not be sufficient to ensure his success. I suspect that the big fund mangers will have stronger (and more relevant) views on this subject than I do, and that over the course of the next few months will make their views felt directly to the company. If Saviers is not up the mark, then I suspect we will see a new CEO before the end of the year. Without meeting either of these folks I don't think I have anything valid to add other than generalisations, and I hope my earlier post will be read in this context. The measure of the current CEO will be how well he repositions the company to respond to the current market challenges. So far it's not looking good, but that may be nothing to do with him. However, two more disappointing quarters and it may not matter how good he is. Mark p.s. Happy fishing !