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Technology Stocks : Covad Communications - COVD
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To: rrufff who wrote (9757)11/9/2005 8:53:46 AM
From: fishing4thebigone  Read Replies (1) of 10485
 
That was a sad reply from IR. Too little too late and they now know it. The "it will take time" argument will sink the company.
I am sorry for a industry in its infancy 2% QtoQ growth is outright failure. This company should be growing 200% Q to Q at this stage.
Here is what I got from that reply

1) We found out that there is no money in VOIP
2) We made many mistakes in buying GOBEAM
3) We are going to try WIFI cause that is our only choice and it could avert some legal matters but we don't know a thing about it (hence the buy out) and it will take time (years) to see if it works out for us or not. Hopefully we will not make the same mistakes again.
4) We are in a classic death spiral now and have begun the layoffs by reducing our staff.
5) No one will purchase the company because there are others out there that are smaller and profitable.
6) We plan to milk this by taking large bonuses until we find new jobs elsewhere.
7) Even if someday we make money, it will be just enough to keep us afloat with little further growth.

9-12 months and they will be BK again, this time once and for all. No way will they make it to CF+, they just don't make a good case to get there.

CH has not created an environment that encourages stock buying, just the reverse. I honestly think he could still turn this around if he wanted to...

CHARLIE...FORGET THE COMPANY for a while, JUST MANAGE THE STOCK PRICE!!! You already tried the reverse and it hasn't worked.
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