khris, my pac here day after yours. some comments.
it immediately struck me that the pres. and ceo, dennis mcginn - mac from here on, is standing in front of and slightly blocking the chairman,revered founder, and twenty-five year from-the-trenches-up hector holguin - hec.
what is going on here? mac came in in the fall of '94; he's the new guy... then i read mac's letter in the ceo interviews printout. it all became much clearer.
it almost looks like we have a turnaround here. mac points out 'his' aggressive program, the new people 'he's' brought in, his 'new' emphasis on teamwork and partnering with other co's. he points out that accuf didn't even have interdepartmental e-mail until he introduced it. wow! hec may be a whiz at cad apps and a great guy, but i am betting the co. got away from him and mac is the hired gun. i really like what mac says. he has some harsh words woven in here and there for the way the co used to be run, but he's not just negative. i do believe he has a consistent and dynamic vision of the way it is supposed to run. look closely at his letter and what he isn't quite saying as well as what he does. this guy is fairly candid and probably nobody's patsy. his letter gave me the hope for these folks that i was looking for. i just hope i am not reaching here.
his point that he is aiming the co. essentially at telcos and that europe is deregulating in 98 is good. he is dropping the hardware side, has no interest in owning real estate - the guy sounds focused.
what happened q196 with the horrendous drop in rev was, i am guessing, some leftover business from the last regieme - esp their laxity in recognizing the importance of the windows platform. but it is out, and we will see what we will see in about 3 weeks. how much of the formula for success is new management? lots, i am betting.
we must be at a price bottom here, bloodbaths don't seem to get them down down in texas. don
god bless market corrections when you've got cash in your jeans! |
