Steve,
Well, I have had no responce from Marengi, again, and with the stock ready for 8 I had to inquire again. My letter follows:
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Mr. Marengi,
I can see why you haven't had time to write me a responce to the 3 letters that I have sent to you, because you are busy driving the company into the sewer. My first message to you Novell was at 11.5, next message 10.5, this message 9 and dropping like a brick.
Mr. Marengi what in the world are you doing to this company? At least under Frankenburg the stock had a little support with slow growth and slight vision, however with no leader the stock is plummiting, HOW DO YOU EXPLAIN THIS? I have a hunch that Q4 nnumbers are known by someone who started the selloff and it just snowballed. Can the numbers be that bad? If so how, I mean the channels were cleared almost 2 quarters ago.
Mr. Marengi, I ask you for the third time, WHAT ARE YOU DOING TO ENHANCE THE SHAREHOLDER VALUE? What is the board doing about the CEO search? Nice move on the media blitz so far the coverage has been NOVELL STOCK PLUMITS, my god man you didn't even have to pay for that, nice move. Well Mr. Marengi the stock is down some 35% since you took over GREAT JOB now could you please move on and spare us Novell holders the pain of a book value stock. If you can't do the job, just step down. I can assure you if this stock keeps falling you will no longer have a choice as shareholders are very angry at management right now.
Please could you at least take time out of your schedule of driving the stock price to 8 and respond?
A VERY BITTER STOCKHOLDER
Scott Phillips
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How long can Novell survive with no leader in place. Jon Freeman I appreciate your effort by how can you be so very upbeat with novell slowly or rapidly for that matter approaching the magic8? I now am officially calling for Marengi to step down. We need a leader, not a LOOSER. I have a bad feeling about q4 numbers, does it strike you all as a bit odd that the days after the close of Novell quarter the stock looses all support and begins a sharp spike down? Not me. We can blame the Microsoft PR machine for only so much Joe, Novell in the end is left to answer. And if this is the answer we are all screwed.
Well my morning rant is now complete, hold on for the afternoon edition, could get worse as I have an exam in 1 hour.
OUT WITH MARENGI
Scott |
