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To: Jamey who wrote (25101)	7/3/1998 12:24:00 AM
From: Gottfried	Read Replies (1) \| Respond to of 95453

Santiago, re shareholder rights plan: seems like about 70% of companies have one, also called a poison pill. a definition... Poison Pill: A tactic by a company targeted for takeover to make is stock less appealing to the acquiring company in the hope of blocking the takeover. For example, the company might issue preferred stock that gives shareholders the right to redeem their shares at a premium after the takeover. tiaa-cref.org But this guy did a study and thinks it doesn't help much... schwert.ssb.rochester.edu QNTM did the same thing last week. The low stock prices must have management worried. Gottfried

To: Jamey who wrote (25101)	7/3/1998 12:57:00 PM
From: Chuzzlewit	Read Replies (1) \| Respond to of 95453

Santiago, share holder rights is one of the great oxymorons of all times -- right up there with military intelligence. This is a poison pill designed to protect management from losing its collective position as the result of a hostile takeover. The only things that most managements tend to look out for are their own self interests. After all, companies that are taken over usually have depressed share prices more often than not as the result of poor management of the company's assets. These guys want to hold onto their sinecure at all costs. Euphemisms are designed to hide the truth. You would think that there would be some sort of truth in investing legislation that would require these abominations to be called management rights programs. TTFN, CTC