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Author: themeateater Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 3604  
Subject: Re: In Charge Redux Date: 7/28/2000 11:12 AM
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BandHPatWork - everyone's thanking you for the article, but no ones clicking the recommendation button. Well, I corrected that oversight.
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Spending months studying the situation is just pure bull! PA should have studied the situation before he fired Thoman. When he fired Thoman he should have had a clear sense of direction. Unfortunately, it appears that he didn't, and that's just not acceptable.

IMO - there's no reason for this stock to go to $10. It's actually very simple. Paul Allaire has to step up and say I screwed up! Rick Thoman's Plan has not worked! The focus will shift in the very near future.

And then there's two possible alternatives (XRX BOD should choose one):

1.) Anne and her team will be working on a new course of action which will be launched in ......! While the structure of this new plan is not formalized it will stress XRX stengths in this area......!

2.) We are actively seeking a new CEO. We are in negotiations now and we expect this person to join XRX by.........! We are looking of a candidate who will re-energize XRX and take the company in the direction of .............!

And Finally, Paul should give a target date for his own departure.

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IMO - one of the few justifiable explanations for the current inaction is that XRX has a viable takeover/merger offer on the table which is being evaluated. If this is the case, then I guess the BOD is justified in keeping a lid on the current situation.

There are probably a few other justifiable explanations, and a few unjustifiable ones (like egos).
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Bottomline - What's killing this stock right know is the impression that we're going to get a big dose of the same medicine which hasn't worked in the past. What XRX needs is a clear signal that things will change - for the better. They don't have to elaborate of the specifics, but they need to signal a change of direction. And they need to send a signal that there will be new leadership in a position to direct that change.

Bruno the Meateater



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