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

To: Dennis V. who wrote (10424)	4/14/1999 10:13:00 PM
From: MGV	Respond to of 27311

There is no negative to disprove. The issues are not criticisms of any companies. To the extent managers are responsible for the performance of companies under their stewardship, the fact of poor performance at the companies associated with the new hires and newer board members has been associated with the performance of them. To be clear, at least some of the managers at issue were held accountable or have otherwise been perceived as being responsible for the poor overall performance of those companies. Another example to the example of Dawson with VLNC in 1993-94 is the performance of MCI under Bert Roberts subsequent to its success under Bill McGowan. It is not disputable that MCI was acquired by WorldCom in a weakened state. It is commonly perceived that MCI declined in market power under Roberts' management. As evidence, Roberts accepted a de facto subordinate management role to Ebbers and Sidgemore. Investigate the circumstances of the exit of many of the new hires or new board members and you will find less than graceful departures. Or don't investigate. The point is not subject to dispute. There is a performance stigma attached to the record of more than a few of the companies these men managed during the time they managed them. It does not mean that they are preordained to do poor jobs at VLNC or that to the extent they effectively were forced to leave previous jobs or otherwise left when their companies were weakened, the market perception was fair or accurate.