MICHAEL AND THE WORM SIT IN ON OAKLEY ANNUAL MEETING

          Oakley held its annual meeting Thursday, at which
     shareholders were asking how the sunglass company plans to
     "regain its stride after its recent stumble," according to
     Kelly Barron of the ORANGE COUNTY REGISTER.  Board member
     Michael Jordan and shareholder Dennis Rodman attended the
     meeting at Oakley's CA headquarters.  Oakley's first-quarter
     earnings dropped to $550,000 from $11M last year and sales
     dropped 29% to $49M after Sunglass Hut cancelled orders in
     the fourth quarter.  Barron: "Oakley's future growth,
     though, will have to come from more avenues than ailing
     Sunglass Hut."  Oakley, which does a third of its business
     with Sunglass Hut, "now receives weekly inventory reports"
     from the retailer.  It is also adding 200-250 new accounts,
     "plying" new international markets such as India, and is
     introducing new frames (ORANGE COUNTY REGISTER, 6/20).