John writes:

> ``We think this combination is not only a clear creator of shareholder value
>  in the relatively short-term, realistic conservative synergies that would
>  make this accretive in the first full year of operation and synergies that
>  we know how to direct,'' Fiorina said.
>
>  It seems to me that if Ms. Fiorina can not articulate the reasons for this
>  merger any better than this, shareholders have every right to revolt. I
know
>  I will vote my shares against the merger if this is the best she can do.

I used to tell my students that the most important word you learn in graduate
school is: "bullshit," and this sentence certainly qualifies as that.

While I tend to believe that this merger is a very poor idea, the reaction so
far from the stockholders and the regulators, especially in the EU, would
seem to make it likely that it will never happen and is already less of a
concern with me.

Wirt Atmar

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