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Technology Stocks : DOCS - A TURNAROUND PLAY -- Ignore unavailable to you. Want to Upgrade?

To: Sultan who wrote (1109)	5/11/1999 9:56:00 AM
From: Ally	Read Replies (2) \| Respond to of 1156

Whole page article in today's NP on DOCs, including extensive quotes from Rubin. The whole issue boils down to how one defines "value". To Rube, value is forever expanding the technology to users, keeping the technical staff happy, and spending free cash available on the pursuit. To shareholders, value is maximising shareholders wealth attending to the bottom line requirements for stock price appreciation. Interestingly, not once did Rube define value with any reference to shareholders interest. Instead, he sort of wonders why despite increasing market share and revenue growth, the market does not see the worth in the company and raise the stock price accordingly. What some of us here had suspected as tech fetishm resulting in a problematic myopic view of how wealth is created for shareholders comes out loud and clear from the article.