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To: Lee who wrote (84930)	12/11/1998 1:20:00 PM
From: John Koligman	Read Replies (2) \| Respond to of 176387

Lee, I think you misunderstood my comments. I'm talking about the 'running out of cash scenario' that Kelley keeps bringing up, along with his comments on how can CPQ ever be profitable with more writeoffs. IBM had a similiar story when they downsized and shed around 185,000 employees in the late 80's and early 90's. This culminated with an 8 BILLION dollar writeoff when Gerstner came on board. My point was the size of the writeoff and how IBM took off just after it was done. I've read many of Chuzzlewits 'missives' on these writeoffs and how suspect they might be, but the fact is that they are used and until the law changes, will certainly continue to be. John