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Non-Tech : Any info about Iomega (IOM)?
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To: Herb Fuller who wrote (51154)3/25/1998 12:04:00 PM
From: Jeff Loughlin   of 58324
 
Re:>>>K.E.'s resignation <<<

Is it good or bad?

Hmmmm...tough call. On one hand I see this as good, since KE's relationship with the street was less than positive - get someone in there who can establish a better relationship with the street and with the press, and this could be very good news for the stock.

On the other hand, what concerns me is the question of what led to KE's decision to resign. He may have been "asked to resign" under pressure from the board (as an alternative to being fired) - this would be ok, since I really do feel that he wasn't getting the job done. But if he chose to leave on his own, why? Does he see the company as a sinking ship and want out? Can he now (no longer being an insider) dump his remaining shares (of which he still has quite a large number) to preserve whatever profit he has left in them? If it was a conflict with the board over company direction, what was the source of the conflict? These are the questions that trouble me.

For the record, I sold my entire position last week after the earnings warning. I have been waiting for the conference call before getting back in, as I want to hear a good explanation for the loss. I still believe in the company, but I am now quite worried about its future.

Jeff L.
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