I have not seen any sustained increase in value to my shares. He has not proved anything yet.
It would have taken a magic wand to turn the company around in any less time than it's taken. The work Alan's done over the last 14 months has laid the groundwork for a New Newbridge. To refresh your memory, he's sold or spun off affiliates, restructured top management, refocused products and services at both the access and core of the network, revamped operations, and rebuilt relationships with Wall Street.
Under his leadership the company's made huge strides with gigabit switch/routers and highspeed access products, as well as taken an early lead in LMDS, including a successful settlement with Shaw/WICConnexus and the purchase of Stanford Telecom.
With changes of these magnitudes, it's been difficult to guide the Street and consequently the stock price has been punished. As a long term investor I'm pleased with the company's investment in world-class management and world-class talent, and fully expect to be rewarded as their products and services reach wider and wider markets.
I think we'd all like to see the stock above 50, but you have to do the work first --- and that's what Alan and his team have been doing.
In four market days, we'll see just how well they've done.
Pat |
