Ten months ago peoplesoft Chief Executive Craig Conway was not sanguine about his chances for a successful turnaround. "I could do everything right and still need luck to make a go of it. If I pull this off, I'll be known as a miracle worker," he said then, three months into the job. So it came as a surprise to hear Conway boasting a few weeks ago within earshot of other diners at a crowded Silicon Valley eatery: "I would describe the transformation of the company as essentially complete." Not quite: The stock has rebounded from its $12 low last year to only $15. But two quarters of steady improvement and a promising new product line focused on e-business have made a complete transformation plausible.
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