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No. of Recommendations: 4

I just finished reading your report on Siebel Systems. It's certainly the best piece I've seen on the company and one of the best reports I've seen in a long time of any company. Congratulations for a terrific job well done!

One question about it: Considering that Siebel's marketshare is more than three times its next largest competitor and equal to its four largest competitors, why do you feel that its product shouldn't be considered the industry standard? Another way of putting it is to ask what criteria you're using to define an industry standard?

Again, a great piece offering a complete understanding of where Siebel is and where it might or might not go.

--Mike Buckley
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