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Technology Stocks : Seagate Technology - Fundamentals
STX 311.82-5.7%9:38 AM EST
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To: Z Analyzer who wrote (1514)3/30/2000 4:40:00 AM
From: Mark Madden  Read Replies (1) of 1989
 
Z -

I just went through the conference call again and read up on a few hundred Yahoo posts. The 99+ % consensus is "What a rip-off".

After reading your earlier comment on the answer to "How did you arrive on $2 billion to sell all the operations" I had to laugh. The best they could come up with is they talked to other people before deciding $2 billion to the partnership (including management) was the best deal for shareholders.

Steve Luczo states the company will do much better private. Unfortunately the stockholders that supported their futuristic efforts will not benefit because they have been paid off before the gain. The company will do better because the new purchasers understand long term benefits. Apparently, the stockholders Mr. Luczo has been listening to do not. The board and management will be partners with the new outside purchaser.

This looks so bad for the management of SEG I have to think they are all finished. It will not take Gates or Buffet to take this company now. It only takes someone with enough money to run a decent PR campaign to force a vote by the shareholders. The shareholder now know the existing management wants to send them down the stream. Any good plan will get rid of the present SEG management and return much greater than $77.50 a share. I would expect something in the $120/share range. I have seen this occur with other stocks I have owned.

Regards,
Mark
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