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Gold/Mining/Energy : GEAC.....Canadian best kept secret
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To: Jack Jagernauth who wrote (1330)7/17/2000 6:33:56 PM
From: Doug  Read Replies (1) of 1571
 
Jack: Sure ; the mkt always moves between extremes. But the downside extremus was in part due to the actions of GEAC.

Here are some shortcomings that need to be addressed.

a: The format for the Q report changes Q to Q and this is most confusing to a lay man. It seems that was the intention.

b: The Q report mixes up Net Earnings and Adjusted earnings as and when it suits them.

c: The earnings announcement dates are willfully late. The shortfall could have been preannounced instaed of being trickled down.

d: Commitments made at past CC's are conveniently forgotten.
e.g Receivables are increasing Q to Q. 2Q's ago Investors were told it was due to JDA acquistion and would be normal next Q. It never happened. No explaination for incresaing receivables or deferred revenue.

e: The Analysts are never wooed they are talked down to at a CC.

f: The Operational Income has been in decline and there is no word about addressing that issue. One gets the feeling it does not exists.!

I think the Board of Directors should table a motion asking the CEO for his resignation if +ve operational earnings cannot be restored by fall. The CEO seems to have forgotten that the fundamental purpose of any Busines is operational profit.

2Q's ago they said they were going to spin off the Realty Division. It never happened. Why make an announcement if you dont have the conviction to see it thru.?.
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