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To: Glenn McDougall who wrote (5575)	7/20/1998 8:04:00 AM
From: Glenn McDougall	Read Replies (1) \| Respond to of 18016

Does size matter? The contract with Global One should tell the story. Who is the other company in the race for the contract? See N Zucco's post #5525 Regards Glenn

To: Glenn McDougall who wrote (5575)	7/20/1998 10:48:00 AM
From: pat mudge	Respond to of 18016

Glenn -- Thanks for the Ottawa Citizen article. I've printed and will read more closely over coffee. Was the following FT article posted last week? <<< FRIDAY JULY 17 1998ÿÿLexÿ SIEMENS: Horrendous profit warning Has such a horrendous profit warning ever been so munificently rewarded? For Siemens shares to rise 17 per cent on news of worsening losses in semi-conductors and missed annual profits targets looks perverse. What rescued the day was a hastily cobbled together 10-point programme to improve profitability. This has raised long-subdued hopes of change at this conservative, unfocused and underperforming conglomerate. Siemens has long been near the top of Germany's long list of restructuring plays. But with its shares lagging behind the German market by nearly 30 per cent since 1997, few investors were betting on action - before yesterday. Even now, it is hard to feel confident that the present management under chief executive Heinrich von Pierer is the best one to take Siemens forward. True, the plan makes the right sort of noises. Seeking share buy-back approval heralds the tightening-up of an inefficient balance sheet. And hastening the move towards US accounting standards as a prelude to a listing could open the way to DaimlerChrysler-style share deals. But will management be prepared to act radically enough, particularly when it comes to overhauling the group's structure? Mr von Pierer has not staked his job on it, as a US manager might have done. Past financial targets have slipped unlamented, and this plan is thin on detail. So if investors are to be rewarded for abandoning all scepticism, Siemens must do more than just repeat the mantras of shareholder value. It must apply them.>>> Let the games begin, indeed! Pat