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Technology Stocks : Western Digital (WDC)

WDC 157.75

+0.4%

Nov 14 3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (10735)	8/29/2003 12:18:27 AM
From: Sarmad Y. Hermiz	Read Replies (2) of 11057

>> WDC is not out of the woods. Gottfried, It's always good to be cautious. But lets call wdc a bet on a management team. When Matt Massengil became CEO of wdc 4 years ago, one of the first things he did was to fly to Minneapolis in a heavy snow storm to tell his ex-colleagues - in person - that he was closing the money-losing enterprise drive division. A short time after that he announced that he would close down every operation that did not meet a schedule for profitability. And he did close 2 divisions, and sell one other. For the past 10 quarters that I've been listening to CC's he lays out a plan for the quarter, and he always meets or exceeds the goals. Three years ago there was a major crisis with a motor control chip that caused a recall at a very difficult time for the company. They contained and solved the problem and now it's nothing but a blip. A lesser team would have gone into bankruptcy. With readrite, before the BK, wdc was able to work with what ever rdrt was producing, even though Maxtor gave up after trying for months, and losing $100's of millions. WDC turned around a losing Fugitsu stack assembly plant in Thailand that Fugitsu abandoned two years ago. Now wdc makes 2/3 of their stacks there. The current management has a 4-year record of succeeding where others fail. I am very glad that us shareholders got this new arena of competition where our team gets to meet a larger challenge to highlight their capabilities and score a big win. In my opinion, wdc got out of the woods a couple years ago. I think they will surpass Maxtor in profits. And the heads operation will just give wdc's team a chance to show they really are the best at what they do. And make an extra $50 m for the company in the first year. I think it is the maxtor shareholders who should be worried now. Sarmad

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