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Technology Stocks : VALENCE TECHNOLOGY (VLNC) -- Ignore unavailable to you. Want to Upgrade?

To: Rich Wolf who wrote (8873)	3/4/1999 12:37:00 AM
From: Larry Brubaker	Read Replies (1) \| Respond to of 27311

OK Rich, you are giving me the motivation to look into the history of IWRK during Mr. Wright's tenure as CEO of the company. You say the stock price was stable at $5 during his tenure. Assuming he was hired in early 95, the stock price was about $5 when he was hired, made it to about $11 in early '96, before beginning a slide to about $3.50 when he left (was canned?) in Feb. 98. Well on its way to the current $1 (some turnaround). quote.yahoo.com I also notice that during Mr. Wright's tenure, IWRK proposed to merge with a company called Showscan. Mr. Wright's comment about the proposed merger, from an IWRK PR of December 97 said, "Roy A. Wright, Iwerks' Chairman and Chief Executive Officer, said "The combination of these two companies will create a true leader in location based entertainment. This merger creates the critical mass necessary to provide outstanding software and attractions support for what soon will be a network of almost 200 simulation theaters worldwide. From this base we hope to grow a company that will become increasingly more valuable to our customers and our shareholders." Two months later, the Feb. 98 PR announcing that Mr. Wright was being replaced as CEO, said, "Mr. Goldwater succeeds Roy A. Wright, who has served as Chief Executive Officer and President since July 1995 and as Chairman of the Board since March 1997. Mr. Wright will continue to provide advice and strategic counsel to the Company, particularly in connection with the integration of Showscan Entertainment following its acquisition by Iwerks upon the closing of the pending merger." One month later, IWRK shareholders voted against this merger. From a March 31, 1998 PR, "IWERKS SHAREHOLDERS REJECT MERGER WITH SHOWSCAN Burbank, CA, March 31, 1998 – Shareholders of Iwerks Entertainment, Inc. (NMS-IWRK) today rejected the company's proposed merger with Showscan Entertainment, Inc. (NMS-SHOW) in a vote announced at Iwerks annual meeting of shareholders here." It is very unusual for shareholders to vote against a company proposal. Heck, VLNC shareholders recently voted in favor of the potential unlimited dilution of stock resulting from its latest financing. Yet for some reason, IWRK shareholders voted against this merger proposed during Mr. Wright's tenure as CEO of IWRK, a month following Mr. Wright's replacement as CEO. Does anybody who is hyping Mr. Wright's qualifications have any idea why he was replaced as IWRK's CEO? Does anybody who is hyping Mr. Wright's qualifications have any idea why IWRK's shareholders took the very unusual step of voting against the company's merger proposal? Does anybody who is hyping Mr. Wright's qualifications think shareholders of IWRK during Mr. Wright's tenure would agree with the way he is being touted on this thread as a turnaround genious?

To: Rich Wolf who wrote (8873)	3/4/1999 12:39:00 AM
From: Emmo	Read Replies (1) \| Respond to of 27311

"What's up?" Certainly not the stock price. COO news is a ,,yawnnn,,non event. Oh, and about the glowing comments from his last employeer, thats all BS. Can anyone find me a PR about any big cheese leaving a company that didn't describe his or her contributions as anything less then stellar? The recent PR's from Henderson have been rather weak (patent news and now this COO). What's really going on? Well I guess they might have read the boards and decided to throw the investors some crumbs to keep everyone talking up the stock. One of these days some serious discussion might take place here that takes a truthfu, critical look at what this management team is doing. Until then ...Give me V...Give me an A (don't forget to wave your pom poms)