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To: stock bull who wrote (116993)	4/13/1999 1:21:00 PM
From: stockman_scott	Read Replies (3) \| Respond to of 176387

~ OT ~ More Entertainment / Propaganda from the CPQ board...FYI.. <<To: P P Bravo (57577 ) From: victor Tuesday, Apr 13 1999 11:15AM ET Reply # of 57600 I don't know why you are all so fascinated with EP's interview. This happens everytime he appears. You all build up expectations and then when he does his Big Chief Wooden Face act you all start complaining because the stock did not jump up 10% immediately. Then we have 39 posts lambasting him. Unless there is a big announcement at Innovate about AV, for example, and it looks like he has not made it in his opening address. Then his interview is going to consist of this: Q. Why did you leave your warning so late. A. Because we knew in February that the quarter would be back-end loaded and there was a good chance that we might make the numbers. As soon as we knew we would not we warned. Q. Part of your trouble arises from difficulties you have adapting to direct which is causing bad relations with the re-sellers. A No. We have good relations with resellers. We have the best model in the business. Our direct sales are increasing all the time. Q. You say your problems are industry wide but everybody else says the industry is fine - DELL, HWP contradict you. Intel results contradict you. A. There is a degree of propaganada going on. Industry sales were off about 5% from forecasts. Our competitors fought for market share by lowering prices. You will see. Q. CPQ share price is back where it was 12 months ago. You are in a mess. A. As CEO I think the share price should be much higher. Much of the problem arises from unrealistic expectations of analysts and commentators. Now they are making too much of this seasonal set-back. We are talking only 5% slowdown in sales expectations. Q. You used to be a sure-fire growth prospect. It looks like Digital is pulling you down. A. We got Digital dirt cheap. We said it would start becoming accretive before the end of 4Q, and it did. This is a very fast merger, by most standards, it has a way to go, we had to make an acquistion to diversify. It has given us the buildign blocks to carry out our grand strategy. Q. DELL is gaining market share on you in the commercial end. A. No it isn't that's part of its propaganda. Q. What about AV - have you got a deal in the works with a content provider and when will the IPO be? A. We intend to unlock shareholder value by a spin-off. We have not decided on the equity structure of the IPO except that we will retain a controlling interest. We are in discussions about further acquisitons or partnerships. When we are ready we will announce the details. It will probably be before the end of the year. Q. What is the vision or stratgey. A. We want to improve our product mix more of the high margin stuff. Our new emphasis on being the architect and provider and maintainer of NonStop solutions, within our overarchng vision as an IT company, maximising the Internet and including e-commerce etc etc etc Q. Will there be restructuing, for example will you get the sack. A. We are all dedicated to have COMPAQ achieve $50 billion revenues by the year 2000. We are on track. Q. What do you think of my tie A I like it better than Joe's - hahahahah Q. Thank you EP you are so funny. A. May I ask you a question - what do you think of my hair? Q. We'll take a break now>>