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Technology Stocks : John, Mike & Tom's Wild World of Stocks
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To: John Pitera who wrote (2524)10/23/2001 5:57:44 PM
From: Logain Ablar  Read Replies (2) of 2850
 
John:

Technically ene is in an area with a lot of support but it shouldn't have broken $24. However in recent past I remember TYC also in a similar (similar with an SEC investigation) position and the stock broke support. TYC was able to recover with earnings and the investigation going nowhere.

In my time with my former employer we would have numerous SEC inquiries into accounting issues (although only 1 investigation where the company had to restate earnings). To the company's defense under FAS 109 the restatement would not have occured.

stockcharts.com

I didn't mean to imply the ENE president would have qualified for the severance just that he left without it seeming (seeming in my mind since I didn't read any issue on his part trying to obtain it) to be an issue. Since it was written to be around $30M plus leaving the $2M loan forgiveness this just seems against normal human nature (greed).

In these type of situations I just shy away. This is different than cedent where we have good management make a mistake which cost the company but your call was after the bottoming process.

You know when they down grade the debt the e in p/e is going to be impacted.

Anyway I'd look @ other areas going forward and not ene.

Tim
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