Good point dgugel...
I did however run a few other charts, and while IRF has under performed in it's industry it is outperforming the S&P 500 by almost 50% on a one year chart, and is slightly lagging it's industry in general on same. IRF stock has appreciated apx. 150% since April of this year as well.
Don't know what part, if any, Rose Marcario played in all of this however. I do know though she will have a heck of a time under performing the former CFO/COO...
Also, it seems GMGC has been adding new personel in other areas...
On Sept. 8th, in a Markman Memo the CEO mentions cutting apx. 20% (36 employees) from the staff
Today, we also announced that we are cutting approximately 20 percent of the positions at our company, primarily in administrative and support areas. This is always a difficult decision for any management team and Board of Directors to make. In our case, it was a step we needed to take to help manage company resources while we focus on continuing to grow our new Internet services business.
genmagic.com
Yet, according to this article, GM layed off about 50 workers from their 185 member staff, but now has a staff of 150...????
In a recent phase of its restructuring efforts, General Magic in September laid off about 50 employees--mostly admininstrative and support personnel--out of a staff of 185. The company now employs about 150 people.
yahoo.cnet.com
It's hard to say that GMGC is not trying to pick up the pieces here, this has been a very challenging puzzle to say the least. I still believe though, that the pieces are finally beginning to fall into place. Again, we shall see.
Thanks for the good, and sobering, insight on IRF...
Best Regards,
John Madarasz
PS
General Magic will report its third-quarter earnings November 10. |
