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Technology Stocks : Orbital Engine (OE)
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To: EUGENETUCK who wrote (4638)2/23/2001 9:44:26 AM
From: Maverick  Read Replies (2) of 4908
 
The numbers aren't the issue.

It's the decision not to warn that's the issue. They made a bad decision. With their history and the current market's intolerance for earnings shortcomings, the prudent thing to do was make the forecast (in December) based on not completing the deal. It would have been much better to surprise on the upside if you were successful. As upset as I am about this mistake, I still agree with the decision not to sacrifice the terms of an agreement - which will affect revenues long term - to meet a deadline. However, I will expect them to complete this deal very soon. To delay much further exaggerates the misjudgment in December. The upside is that had they taken this route, we would have likely ended up at today's prices anyway, just in December instead of February. This isn't an easy stock to own, but it's certainly an easy one to ridicule. When you read those posts, be careful to note their inflammatory tone. The club site is reacting as they should, with the same displeasure I have. But screaming "I told you so" and "the sky has fallen" could easily look silly in a week or two. OE made a mistake taking this risk, and I have no problem with criticizing them for that. If they are able to complete this deal successfully in a relatively short period of time I will expect criticism of the same intensity to be focused on those claiming victory today.
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