Seagate Technology - Fundamentals Message Board

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Technology Stocks : Seagate Technology - Fundamentals

STX 281.28

-1.7%

Dec 29 3:59 PM EST

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To: MikeM54321 who wrote (1853)	5/26/2000 12:53:00 PM
From: Mark Madden	Read Replies (1) of 1989

I'm anxious to vote "NO" also. I think SEG management is dragging their feet hoping for better VRTS stock prices. They also need more time to come out with negative publicity on the drive industry. They just came out with news of closing two plants, laying off 1200 and a charge of $35 million against this quarters earnings. IMHO the enterprise drive industry is where SEG's largest value is. SEG can dominate the market with IBM having reliability problems, Maxtor and Western Digital recently giving up on the market and new SEG products in production. SEG's 15K rpm drive coming out this year is years ahead of the industry. The enterprise market has superhigh growth, higher margins and less competition. This industry alone should command 3 times more than the $2 billion Silver Lakes is offering. As mentioned in the "Disk Drive Discussion Forum" IBM has more business to lose. Western Digital dropped their IBM programs. They recently said they have no IBM programs. I would not be surprised to see Dell cut back on their multi-billion deal with IBM. Although IBM has the most advanced technologies they seem to lag on production quality and price. In a perfect world stockholders will vote down the SEG deal, new management will step in that supports stockholder value and SEG will thrive on the fast growing enterprise market.<g> Regards, Mark

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