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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Gregg Powers who wrote (13652)	8/13/1998 10:39:00 AM
From: Valueman	Read Replies (1) \| Respond to of 152472

It would be interesting to see what ERICY would do with those IPRs if they did buy QCOM. Would they then turn around and demand royalties and license fees from the rest of the world? You bet your a** they would! It is only natural since they invented CDMA!

To: Gregg Powers who wrote (13652)	8/13/1998 11:01:00 AM
From: SKIP PAUL	Respond to of 152472

If "half a loaf" agreement with ETSI ERICY emanates the stock could be at a $100 in a short period of time. If no agreement emanates I dont think the stock has much downside. Seems like the risk reward is completely out of balance.

To: Gregg Powers who wrote (13652)	8/13/1998 11:03:00 AM
From: Clarksterh	Read Replies (1) \| Respond to of 152472

Gregg - Speaking of takeovers, do you know where I could find details of a Qualcomm "Shareholder's Rights" (i.e. poison pill - I've always loved the euphemism.) package, if any? Clark PS From the last 10K - but is this all there is? If so, not good. . Anti-Takeover Measures; Rights Plan. The Company's Certificate of Incorporation provides for cumulative voting in the election of directors. In addition, the Company's Certificate of Incorporation provides for a classified Board of Directors and includes a provision (the "Fair Price Provision") that requires the approval of the holders of at least 66 2/3% of the Company's voting stock as a condition to a merger or certain other business transactions with, or proposed by, a holder of more than 15% or more of the Company's voting stock, except in cases where certain directors approve the transaction or certain minimum price criteria and other procedural requirements are met. The Company's Certificate of Incorporation also requires the approvals of holders of at least 66 2/3% of the Company's voting stock to amend or change the provisions relating to the classified board, cumulative voting or the Fair Price Provision. The Company's Certificate of Incorporation also requires that any action required or permitted to be taken by stockholders of the Company must be effected at a duly called annual or special meeting of stockholders of the Company and may not be effected by any consent in writing. The Company's Bylaws, as amended, permit a special meeting of the stockholders to be called only by the Company's Board of Directors, the Chairman of the Board or the Company's President. The classified board, Fair Price Provision and other charter provisions may discourage certain types of transactions involving an actual or potential change in control of the Company, including transactions in which the stockholders might otherwise receive a premium for their shares over then current market prices, and may limit the ability of stockholders to approve transactions that they may deem to be in their best interests. Further, pursuant to the terms of its preferred share purchase rights plan, the Company has distributed a dividend of one right for each outstanding share of Common Stock. These rights will cause substantial dilution to the ownership of a person or group that attempts to acquire the Company on terms not approved by the Board of Directors and may have the effect of deterring hostile takeover attempts. In addition, the Board of Directors has the authority to fix the rights and preferences of and issue shares of Preferred Stock, which may have the effect of delaying or preventing a change in control of the Company without action by the stockholders.

To: Gregg Powers who wrote (13652)	8/13/1998 11:32:00 AM
From: limtex	Respond to of 152472

Gregg - Have I missed something here? I've never seen you use Navy language before!!! Regards, L

To: Gregg Powers who wrote (13652)	8/13/1998 5:03:00 PM
From: JMD	Read Replies (3) \| Respond to of 152472

Gregg, for reasons I can't/won't go in to, I have avoided posting my fear for the Q in terms of its vulnerability in the financial markets. [my prior whimperings in this regard took the form of: gee, wouldn't it be grand if we could form a strategic alliance with one of the big boys, gosh we're kind of a little peanut given the size of the rest of the elephants at the telecom circus, etc.] Well, now that the subject is on the table, let me say that this scenario makes utterly perfect sense to me, damn it. First, you try to whip the Q with normal and customary FUD [cdma wears combat boots and won't work, blah, blah, blah]. When the number of puffs on that cigar starts to look a little anemic, you sue'em. At the same time of course you're frantically trying to engineer around the IPR's. Then you make your vaporware announcement by which time everybody has forgotten that your vaporware will be the same cdma you said at various times a) didn't work or b) if it did, you invented it in the first place. The net result of the above is Q = 5, Ericy = 0. So now the real end game begins: politics and money. The politics is good for, what, maybe three more years before Europe caves? You guys know I ain't exactly a jingoist, so please accept this as a simple statement of fact rather than Surfer Mike breaking into a chorus of Yankee Doodle Dandy. We are living in yet another era of pax Americana. The U.S. has regained and arguably surpassed its hegemnoy position realized at the end of WWII. Therefore, in a showdown between us and Europe, it's over before it begins. Finland can scream till the sardines turn purple, but if the U.S. wants to tell them to stuff their GSM in the nearest fjord, then that's the way it's going to work. So politics is only good as a temporary delaying tactic. Okay kids, what's that leave? What is the one weapon that Ericy has a whole load more of and can use at will? Go to the head of your class: if you can't beat'em, buy'em. But before you do, make sure to knock a couple billion off the price so the takeover 'premium' looks rich. Presto, zingo--launch a bear raid in an already crappy market and those jerks will walk away with the Q for a pittance. This is a very ugly and very real scenario. Now add the fact that the Q is spinning Spin Co. Terrific, now they only have to buy a smaller piece to get the IPR's, handset/ASIC manufacturing capability which are the crown jewels. Me not liking this one bit. The only upside, and it ain't much, I see is that Lucent or Tellabs or Nortel will step in rather than let Ericy take it for zip. So then we get zip +. Big deal. :( Mike Doyle