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Strategies & Market Trends : Water! Water! Everywhere and Not a Drop To Drink!
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To: Arthur Radley who wrote (146)6/13/1999 9:14:00 AM
From: big guy  Read Replies (1) of 336
 
Hello Dude,

When are you going to give me that little drop in SDIX so I can get in Tex ? As Wade mentioned with WLK you are betting on a successful turn around of the company. The previous CEO for lack of better words sucked. And by taking a look at a weekly chart you can see just how much he and his business plan sucked. Late last summer they got rid of the old goat and hired some new blood. Since that time they have successfully implemented the first two parts of their three part strategy to turn things around. They restructured the company and cut the fat to the tune of five million dollars. The third part of their plan is to take the money they have saved though cost cutting and inject it into their sales force. As of March 31st they had already hired 8 new people in their sale department and by the time their done hiring they will have added some 25. The thing to watch in my opinion is their backlog numbers. It has dropped from 45 million three quarters ago to 32 million in the last quarter. I'm not expecting a big improvement in this quarter but do expect to see something positive by the end of their September quarter. The new CEO has a few other messes to clean up that the previous CEO left behind and appears to be making good progress in doing so. I do own some stock in WLK and if things continue to improve I'll add more. Going back to the weekly chart WLK is putting in a helluva nice base here and with some positive news should move quite nicely.

Catch ya later

Big Guy
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