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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Elwood P. Dowd who wrote (30867)	8/13/1998 4:28:00 PM
From: Senator949	Read Replies (2) \| Respond to of 97611

El (or anyone), What happened to DELL in the last 5 minutes. Looked like panic selling going on. Don't want to go to the DELL thread as there are to many posts to go through. Robin

To: Elwood P. Dowd who wrote (30867)	8/13/1998 7:06:00 PM
From: John Koligman	Respond to of 97611

For long time CPQ followers OT Canion, Other Ex-Compaq Aides Quit Posts at GK Intelligent Systems Dow Jones Newswires HOUSTON -- GK Intelligent Systems Inc. said its chairman, Rod Canion, has quit, just five months after his arrival sent the company's stock on an upward spiral. GK, a Houston developer of training software, announced the resignation Thursday, and investors responded by dumping the stock, driving GK shares down 57%. Mr. Canion, co-founder and former chief executive of Compaq Computer Corp., cited "basic philosophical differences." The chairman brought a number of Compaq colleagues with him to GK, including GK financial chief Tim Harris, Chief Information Officer Doyle Baker, and Corporate Counsel David Cabello. All will accompany him in his departure, the company said. Rod Norville, GK's vice president, administrative affairs, said Mr. Canion resigned because of "differences in management style" with Chief Executive Gary Kimmons. Mr. Norville said the company is still on track to ship its first software product this year, "Around The Web in 80 Days," which trains people how to use the Web. Resuming trading Thursday afternoon after being halted for the news, shares of GK dropped $4.6875 to close at $3.50 on the American Stock Exchange. After the installation of the Compaq contingent in March, GK's stock soared from 25 cents a share on the NASD Bulletin Board, where it was listed at the time, to a high of $19.75 on the Amex in July. Trading in the stock was delayed for the news Thursday, after closing Wednesday at $8.188. Investors had been banking on Mr. Canion and his team to vault GK into the upper echelon of software companies the same way he turned Compaq into the world's largest seller of personal computers. But without any programs to market, Mr. Canion had his work cut out for him at GK. GK hasn't turned in a profit or any revenue since its inception in October 1993. The company has been scrambling for cash; two private placements in February and April probably saved it from insolvency. The company had just $22,581 in current assets at the end of February, compared with $791,803 in current liabilities. Investors have lost heart. The company's market capitalization had fallen to $230.9 million Wednesday's from its high of $560 million back in July. Details on GK's product plans have been sketchy at best. GK's Web site says it will release titles on CD-ROM first, and then produce versions for corporate Intranets. Just how GK's titles will differ from other computer-based training programs, like those from market leader CBT Systems, isn't clear. John