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To: Currency who wrote (1473)	7/22/1998 12:55:00 PM
From: Eagle	Read Replies (1) \| Respond to of 4814

I'm getting closer Colleen, I forgot about the Eagle Point stuff...and I'm the one who posted it....Grrrrr! mapquest.com

To: Currency who wrote (1473)	7/22/1998 1:30:00 PM
From: Janice Shell	Respond to of 4814

That remains to be seen. But an extremely aggressive acquisitions policy nearly always plays the devil with stock price. I've been in PLAT for some time and suffered through the last part of Flip's shopping spree. We used to joke that his Real Plan was to give every shareholder his Own Little Company on his birthday. Every time he bought another, the stock got slammed. BUT there are significant differences. PLAT is a directed company, with a very clear business plan. They're highly respected in the world of tech, and have good revenues, good margins, award-winning products, all that. The companies they bought were purchased for specific reasons, not just because they were cheap. Yes, I have doubts about the wisdom of attempting to create one's own little chaebol. In some circumstances diversification can shield a firm from cyclical difficulties, but there really ought to be some overarching strategy. Consider CSHK: to a very considerable extent its problems were caused by the fact that management was getting into a business--software and internet stuff--about which it was utterly clueless. Next, in answer to both you and Colleen. As I see it, Dror's approach, now and in the past, is this: As Daniel Dror & Co. and Elk International, he takes over--at a huge discount--a company that's in financial trouble. In this case it was Pitts and Spitts, whose name was immediately changed to Energy Drilling. Perhaps immediately, but in any case not much later, also as Daniel Dror & Co. and Elk International, he sells the new company holdings--stock, property, what have you--left over from earlier ventures. These are the "related party transactions" we've all read about. Then he begins to buy some other companies, which tend themselves to be in financial difficulties. Intile, for example. The potential problems with this strategy are, I think, obvious. As always, just my opinion, all the usual disclaimers...