All,
I usually don't repost articles but there is a real smear campaign going on here. The Salt Lake Tribune (a.k.a. Knight-Ridder) can't even get their Forbes wannabe story right as it was the Jaz disks that were recalled NOT the Zip disks as they imply (see below). The added statement of the unnamed (read short) money manager is good for a few laughs as well. I didn't notice any reporter claiming authorship for this codswallop.
The Salt Lake Tribune Meanwhile in Utah Column
Jun 24, 1997 4:59 PM [Knight-Ridder Business]
[SNIP]
IOMEGA CORP.'s growing competition and slower sales in the personal- computer market, as well as product problems, could mean the company's stock is too high, Forbes magazine reported.
Although shares of the Roy-based maker of computer disk storage systems have risen 18 percent this year, Iomega is seeing first-time competition for its main product, the Zip drive, and had to recall 75,000 cartridges in April.
The shares should be trading at 10, Forbes said, citing an unidentified money manager.
Iomega shares rose 5.2 percent to 20 1/4 on June 4 on takeover speculation and optimism that business will remain strong as the company introduced another customer for its new disk drives for notebook computers.
The company shares on Monday closed down three-quarters to 21 3/4.
[SNIP]
ON THE INTERNET:
Visit Utah Online, the World Wide Web site of The Salt Lake Tribune, at
sltrib.com
(c) 1997, The Salt Lake Tribune. Distributed by Knight-Ridder/Tribune Business
BTW, great quote FIDO.
Regards,
mark_b |
