Safeguard Scientifics SFE Message Board

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Technology Stocks : Safeguard Scientifics SFE

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To: Sir Francis Drake who wrote (4318)	12/8/2000 7:31:08 PM
From: Rick	Read Replies (1) of 4467

Drake... was just about to post that link. i think you are wise to step aside. i hate to spoil the lovefest regarding Musser's handling of his personal investment negligence, BUT.... my read is that from a management perspective, this story stinks to high heaven..... perhaps it's an asset play if it is selling for the value of it's assets, but i think i would need a discount to asset value to play it. -unpaid loans to girlfriends company -personal loans to Musser for margin calls executives -loans to already highly compensated executives for tax purposes hate to spoil the party but it looks like these guys are havin' fun with shareholder money......it's hard to detect when times are great.....but when the going get's tough these guys still want their perks.... combine that with the advanced age of the founder who seems to be showing signs of misjudgement if not negligence....and the odor is foul.... i can't argue with the history of success at SFE, and maybe it is cheap enough to buy based on the assets....but i assign zero value to the incubator concept....and the rest of it smells pretty bad to me... Rick.

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