Any info about Iomega (IOM)? Message Board

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Non-Tech : Any info about Iomega (IOM)?

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To: Ken Marcus who wrote (2658)	6/8/1996 10:04:00 PM
From: Zoltan!	of 58324

Brimstone and treacle now? You certainly are prolific tonight. A few legal and financial points: 1) Chapter 11 (reorganization) is NOT the end, legally it is a NEW BEGINNING. Unsecured creditors take it on the chin (stockholders too if there are too many secured creditors). If Syquest goes Chapter 11, it will emerge a STRONGER company than before, with LOWER COSTS (usually) than its competitors. That's the purpose and effect of the revised Bankruptcy Code. Bad news for Iomega. 2) You're hoping for Chapter 7, i.e. LIQUIDATION. Not likely with a well-received product. Normally reserved for hopeless cases, can be forced or voluntary. 3) Did you know that a few years ago General Motors had NEGATIVE NET WORTH in the BILLIONS ? Pension liabilities. It happens. It's accounting. Keep your eyes on the cash flow. 4) IBM. Please. You accord them far greater respect than the industry does. I ask, how many billion dollar industries have been built on their mistakes? Now if COMPAQ incorporates ZIP, that's something to crow about. Sorry, Mr. Morris is fully credible. Best scenario for Iomega would be to buy Syquest, not likely though. Regards

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