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mschere

05/02/03 3:18 PM

#22452 RE: The Count #22449

Question..Why would you have doubts regarding Management's ability to engage for the benefit of the stockholders in M & A.? Is it possible that is their area of expertise? If they feel that they do not have enough inhouse PRO's IMO: They could utilize my services, yours ,or they could always employ an Investment Banker and or utilize the services of Arthur D. Little..could they not ?



I’d rather IDCC focus on their core business rather than M&A activity. Quite a few well run companies have lost a lot of money on M&A over the past few years – ask QCOM. Cash in the pocket gives them the ability to go into areas beyond their expertise. Personally, I’d prefer a stock buyback if there is no ongoing business need for the cash because I think IDCC is a great investment. I am not selling stock to pay bills personally because I believe I will be better off holding the stock. I wish my company had the same view.