dd,
here are my thoughts on FCM's latest earnings report...
We are seeing, IMHO, the disastrous remnants of Bushwell's legacy...While he can still have the "600% increase in sales" in his resume, the fact is that this earnings report had the USAT fiasco written all over it. The new management has to be given some time to show if they can shows us Da Money because it is pretty clear that this company so far has been grossly mismanaged.
I am holding for one reason only: To be true to my system which is to hold a stock for a minimum of 3 years...it will take some extraordinary event to make me sell a stock before 3 years pass (the only stock I sold before 3 years was Valujet after its plane crash...and I still had a tiny capital gain on it). The other reason is the future of this industry, there is a giant sucking sound coming from the Internet and there is no going back. We are aware that FCM's quality of products/services are excellent, their weakness has always been execution and positioning.
What ticks me off again is the crappy PR (Rodney Dangerfield, taking the company where no company has gone before) and the ongoing promises and failure to achieve them. For example, if Helen mentioned that "you will be pleased with the earning report" before its release, IF TRUE , she should be fired on the spot and go apply for a roofer job!
Hardware sales were of course disapointing and when you compare them with the USAT "sales" leaves investors with a sour taste in their mouth. But more companies are looking at this and many more will be doing so in the future, there is no going back. Hopefully, the new management can pull of something (and better do it before 10/15/2000 my 3 yr anniversary of holding this stock).
FNET revenue was OK and I hope they can still pull off the IPO but of course I won't be surprised if they postpone it again.
What I also would like to see is some new OUTSIDE blood in the Board of Directors, along with letting Herb go back to doing commercials, he has no business seating in the Board of Directors of an Internet company.
Where the hell is Weaver?
I don't blame people who have bailed out. Then again, you know what they say when there is blood running rampant...
This company so far should have this tagline:
"So close and, so far, so far away"
Back to waiting for FCM to show us DA Money...
masochism101 |
