For more footprints....Does seem amazing that a company of this size, and employing 11,000 could have this happen without major headlines someplace.....The man who started Inacom Bill Fairfield (article below says 17 years ago) just was hired by another company (again below....) Did anyone in Omaha see this coming? The law suits were filed 2/29 and 3/8/00.....will have to see what the stock was before the suits were filed.... Notice that the article at the bottom of this states from the company website: "The restatements are not expected to have any impact on the present
financial
condition of the Company."
KLP
siliconinvestor.com
from Jan 4, 1999 till 12/31/1999: $15.62 to $7.31
from Jan 3, 2000 to 5/3/2000: $7.625 to $0.875
siliconinvestor.com
hart.gsp?lotemp=&period=17&chart1=ma&s=ICO&compare=&time=month&i0=1&chart=bar&i1=0&scale=linear&i2=0&i3=0
17 month chart
The article below says ICO was a $6.9 BILLION dollar company as of
October 1999...and a Fortune 500 company......
siliconinvestor.com
businessCreditUSA.com Appoints Bill Fairfield as Chairman
FOSTER CITY, Calif.--(BUSINESS WIRE)--May 2, 2000--
businessCreditUSA.com, (Parent company infoUSA,
NASDAQ:IUSA) the first Internet credit portal, offering free business
credit reports, online updates and free business credit
applications, today announced the appointment of Bill Fairfield as
Chairman of its Board of Directors. Bill Fairfield is Chairman
of DreamField Capital Ventures LLC, a venture capital fund specializing
in technology start-up companies. At
businessCreditUSA.com Fairfield will be responsible for business
development and strategic partnerships, as well as directing
the company's private financing efforts.
Until October 1999, Fairfield was President and Chief Executive Officer
of Inacom Corp. (NYSE: ICO), a $6.9 billion,
Fortune 500 corporation. The company provides information technology
planning and purchasing systems and support for large
and mid-sized businesses. Products include desktop and computer
networking systems, and communications and integrated
technologies. Fairfield was instrumental in arranging the sale of these
facilities and Inacom's distribution assets to Compaq
Computer Corporation early in 2000. Fairfield led Inacom since 1982 as a
founder and CEO.
Vin Gupta, Chairman and CEO, infoUSA, said, " We are delighted to have
Bill Fairfield join as Chairman of
businessCreditUSA.com. Bill brings with him tremendous range of business
and leadership skills, having developed a successful
technology business from the ground-up, and grown it into a
multi-billion dollar public company. We look forward to Bill
providing businessCreditUSA.com with the leadership and direction
necessary to achieve its full potential."
Bill Fairfield remarked, "I believe that businessCreditUSA.com has a
multi-billion dollar opportunity as the leading provider of
business credit information on the Internet and wireless Web. I am
dedicated to the development of this company as the leading
worldwide credit portal for business-to-business applications."
Fairfield, 53, an engineer, holds an MBA from Harvard University and a
BS in industrial engineering from Bradley University.
He is on the Board of Directors of International Computer Group (ICG),
London, UK; Sitel Corporation (NYSE), The Buckle
(NYSE), The Federal Reserve Bank of Kansas City-Omaha Branch, Hastings
College, as well as numerous charitable and
civic groups. He is a recipient of the Ernst & Young Entrepreneur of the
Year Regional Award and a National Award
(Technology) in 1999. He also received the Greater Omaha Chamber of
Commerce Headliner of the Year award (1998) and
has earned many other honors and distinctions.
inacom.com
Corporate Profile
Founded in 1982, Inacom Corp. is a leading Fortune 500 technology services
company
specializing in distributed technology infrastructure solutions utilizing desktop,
client/server
and network technologies. Headquartered in Omaha, NE, Inacom achieved record
revenues
and net earnings in 1998 of $4.3 billion and $43 million, respectively.
On February 17, 1999, Inacom completed the merger with Vanstar Corporation.
The
company currently employs 11,000 people with more than 6,500 technical
professionals
and has international affiliates in more than 50 countries. Including Vanstar, 1998
pro-forma
revenues were nearly $7 billion with more than $850 million in services revenues.
inacom.com
financial fundamentals
inacom.com
analyst coverage
inacom.com
Gerald A. Gagliardi President And CEO --article from ICO website dated 18 Oct
1999
Fairfield founded Inacom in 1982 and has been President and CEO for 17 years.
Through successful growth strategies, key mergers and acquisitions, and notably
strong
business alliances with enterprise partners, the Corporation grew to gain a position
amongst the Fortune 500. The Company became publicly held in 1987 on the
Nasdaq
Stock Exchange and in 1997 moved its listing to the New York Stock Exchange
(NYSE: ICO). Fairfield began his career with Eastman Kodak and was President
and
General Manager of the Irrigation Division of Valmont Industries, the founding
parent of
Inacom. Fairfield holds a BA in industrial engineering from Bradley University and
an
MBA from Harvard University. He is the recipient of the 1999 technology
Entrepreneur
of the Year regional award, and the Greater Omaha Chamber of Commerce
"Headliner"
award, 1998.
About Inacom
Inacom Corp. (NYSE: ICO) is a $6.9 billion global Fortune 500 technology
services
leader. The company designs, implements and manages technology solutions that
optimize clients' return on IT investments. Inacom's client portfolio includes more
than
35% of Fortune 500 corporations.
Inacom's solutions utilize desktop, client/server and network technologies. The
Company
leverages more than 17 years' experience with distributed technology as well as its
proven methodologies, size and independent perspective to benefit clients. For
more
information on Inacom, visit www.inacom.com.
inacom.com
Friday, March 24, 2000
Inacom to Restate Prior Periods for Previously Announced
Special Charges
OMAHA, Neb.--(BUSINESS WIRE)--March 24, 2000--Inacom Corp.
(NYSE:ICO)
announced today that it will be restating its financial results for certain prior periods.
The
restatements are principally to recognize in those periods a portion of the previously
announced special charge to increase accounts receivable reserves. The accounts
receivable at issue primarily relate to the Company's former product customization
and
logistics operations which were sold to Compaq Computer Corporation on
February
16, 2000. The restatements are not expected to have any impact on the present
financial
condition of the Company.
The Company will report fourth quarter and fiscal year 1999 financial results
concurrent
with the filing of its Annual Report on Form 10-K. The Company will request an
extension until April 10, 2000 to file the 10-K.
The Company also announced that the Audit Committee of its Board of Directors
has
commenced a review of matters relating to the restatement.
About Inacom
Inacom Corp. (NYSE:ICO) is a premium provider of integrated outsourcing
services
that enable eBusiness solutions and support the IT utility. Over 35% of Fortune 500
companies benefit from the IT operational efficiencies and business effectiveness
delivered by Inacom. For more information on Inacom |
