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Technology Stocks : PSFT - 1999: The "Make-It-or-Break-It" Year? -- Ignore unavailable to you. Want to Upgrade?

To: Michael Burry who wrote (301)	3/25/1999 3:13:00 PM
From: bob zagorin	Read Replies (2) \| Respond to of 1274

michael, i read your story back when it came out. as a former journalist myself, i'll compliment on your piece which has a reasonable perspective. i prefer the Lehman Bros. analysis as issued on 1/7/99 entitled "sizing the opportunity of PSBN" which goes thru the analysis to conclude that PSBN is a $1 billion / year opportunity in the U.S. alone over the next five years". they updated their analysis after the q on 1/29/99 with a model revision but increased their target to $30 and maintained their #1 buy rating. if you have access to lehman, i'd suggest the PSBN analysis because, from my point of view, it is compelling in that they have a tremendous base and they can leverage that. Lehman's analysis was very conservative IMO.

To: Michael Burry who wrote (301)	3/25/1999 3:22:00 PM
From: bob zagorin	Respond to of 1274

Gartner Symposium: Peoplesoft about to enter CRM market by Cath Everett in San Diego Peoplesoft says it plans to enter the customer relationship management (CRM) and sales force automation market in the next month as part of its bid to become a $10 billion vendor over the next few years. Dave Duffield, the application supplier's president and chief executive, explained the rationale during a chief executive interview at the Gartner Symposium in San Diego on Tuesday. "Peoplesoft needs to participate in CRM and sales force automation, so we're exploring other alternatives in case our relationships with Siebel and Vantive don't work out. Give us another month or so and we'll have a pretty strong story to tell," he said. He also added that the firm was currently planning for the future in the shape of Project Sonoma, a family of object oriented applications that are unlikely to come to market for some time. "We're making a big investment in object oriented. Project Sonoma is making good strides and is a research and development project now. We'll probably eat our own lunch with a whole new class of applications and we won't see the pay off for many years, but we need to invest to ensure we're not the first legacy enterprise resource planning (ERP) or Internet vendor," he explained. But Duffield also denied press reports that he planned to leave the company in the near future. "I'm not about to resign as president and chief executive. I'm going to die at the place. But I am looking for a high level executive to hand over the operational reins to. He'll bring us the next fresh strategy to restart the company and get into the right space with customers, alliances and Internet Service Providers," he said. He concluded: "We need to find a president or chief operations officer that has taken a company to $10 billion or $100 billion before. It's a unique individual and we've been talking to people for nine months, but we're in no rush." © 1999 VNU Business Publications Ltd