Hello PJ:
As a long term holder (3+ years) of Novell I agree with your assessment that this forum is not the place to initiate a stockholders rebellion. The stock has returned almost 300% to the early turnaround acquirers.
Its the last several months that have been the most difficult for me to continue to justify the substantial position (for us) we have.
The stock languishes in a range and never seems to have a real breakout announcement or significant reason to move strongly thru the 40+ resistance that is in place.
For discussion purposes only, and coming from a very non-technological understanding of the underlying technology, would NOVL better serve its shareholders by releasing the underlying value of its technology components into a separate but related company.
If Inktomi can survive with an inferior cacheing product, at a much higher market valuation than the entirety of NOVL, why wouldn't the shareholders benefit, and the technology benefit as well from a more focused business model, by shifting NDS eDirectory, DirXML, and ICS into a separate company or at the least into a "tracking stock" ala Lucent, the upcoming AT&T, etc.
As noted by George Gilder, in his January newsletter, NOVL is leading the way into the "storewidth paradigm" with its directories and caching schemes.
It seems clear to me that NOVL values are in eDirectory, DirXML, and Internet Caching Systems and its valuation limitations are in the historical products, even though the historical products are superior to its competitors.
Somtimes market perceptions are simply unchangeable. That may be what NOVL is facing.
Does this make any sense or is it simply not technologically possible.
Don T. |
