To All: This will be my last post on this IMPX thread, or any other for that matter. Since the stated purpose of this thread is to put the past behind us and look toward the positive, I don't think that I can meet that objective. Nevertheless, I wanted to leave a final thought.
If you look at the trading history of this company for the past ten years, you will find that the current price is the "norm", give or take a dollar on either side. The only time that the price deviated from this "norm" was immediately after its initial IPO, and then last year, when it was associated with IOMEGA.
This means that IMPX has historically traded below its peers. There is NO reason to believe that they will change. Mr. Ferguson, the newest CEO, seems to have just as much trouble with accepting responsibility for his actions, or lack thereof, as his predecessors did.
In the lastest press release, Mr. Ferguson indicated that the lack of business was due to the tapering off of business with IOM. He went on to say that "it would take more than a quarter to replace this business". That all sounds good, fair, resonable, etc. etc. but it is not altogether the "true situation".
Mr. Ferguson has been advising IMP Inc. since December of 1996. That leads me to believe that he was aware of the company's situation long before now and that he has had almost a year to make the necessary adjustments. I am not saying that he could have "fixed" everything by now, but he could at least admit HIS failure to make any progress. You may say that I am being unreasonable, but he chose to be the CEO of this company and he is ultimately responsible.
If any of you are thnking of investing in this company because it "looks beaten down", don't forget that this is where it has historically traded and that there is NO indication that IMP has attracted additional business.
For you folks who, like me, lost a great deal on this stock and can't afford to dump it at its present price, I suggest that you make Mr. Law's life hell. That may seem cruel, but he made himself a multi-millionaire at your expense. His e-mail address is http://laws@impinc.com Send him an e-mail and tell him exactly what you think.
I wish you all the best of luck in your investing.
Signing off. Xavier |
