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Technology Stocks : CMIC- CALIFORNIA MICROWAVE
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To: TheLineMan who wrote (24)1/15/1997 8:08:00 PM
From: Bert Torres   of 67
 
The turmoil continues at CMIC. I heard that they are going to take very substantial writeoffs in the 2nd and 3rd quarters. But they also hired JP Morgan. Maybe the company might be sold in pieces or as a whole. Why would they hire an investment banking firm like JP Morgan? If the company's intent is just to write down inventories and assets, the auditors can do that without the help of JP Morgan. I suspect that the company is for sale.
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