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To: Trevor Goodchild who wrote (10174)	1/15/1999 2:53:00 PM
From: JZGalt	Respond to of 12559

Sorry not in specifics. If you have a news source look at the AMP and Allied Signal hostile takeover news back around August and September. That might give you some of the specifics. The upshot is it is very difficult to gain control of a Pennsylvania company if it does not want to be taken over. The legislature is very accomodative toward rewriting the laws to thwart this. AMP has several pieces of legislature before the state legislature while Allied was persuing the hostile takeover. The majority of the legislation dates from the early 1980's when there were significant numbers of Fortune 500 companies based in Pittsburgh. Now there are about half. Duh! This was done in an effort to keep their tax base. I would venture that much more than 1/2 of the money that goes to the state is in the form of corporate taxes as opposed to individual taxes (which are flat). It didn't work. Gulf Oil and others were absorbed, downsized and otherwise out of business in PA. Those that left are operating under a serious handicap.