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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?
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To: Arthur Tang who wrote (270)2/26/2000 5:08:00 PM
From: Arthur Tang  Read Replies (1) of 305
 
Years ago, I raised some money with a bank and General motor's venture capital fund. After we got the money, I had to tell the bank VP that the business plan has to be changed. The VP told me that plans are made to be broken. We went ahead with a more conservative business plan and paid back the loan in 6 years.
I expect that the best plan for SMC is a conservative plan going the same route as in 1999 but pay more attention to store revenue. Run a tight ship, and get the networth to be positive. The new plan of making all the stores "small select stores" will not work; since SMC closed all the select stores in 1999.
Stores average $10.01 million revenue each last year. This year will increase to $10.3 million without trying too hard, if the hot product strategy builds traffic. Slow moving products will be used to deep discount and build traffic in the next few month.
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