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Technology Stocks : Novell (NOVL) dirt cheap, good buy?
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To: Peter Fiala who wrote (18188)10/29/1997 1:32:00 PM
From: vinod Khurana  Read Replies (2) of 42771
 
Hello Pete, no offense to anyone living in Silicon Valley or Provo for that matter. I am sure living in either place has its plus and minuses but one has to face reality concerning costs as every household does when they are in financial problems as is NOVL.

NOVL is not out of the woods and no where close to it. The market is pricing NOVL stock as if it was a startup company just entering the internet arena. To a certain degree that is true. NetWare sales are declining and NT sales on the uprise. NOVL has no other place to turn to except develop new products which poses a risk if the applications they develop do not sell.
The only product NOVL has been able to sell successfully over the last 10 years is NetWare...2.x and 3.x. That has come to an abrupt end.
Managewise and Groupwise are failures. BorderManager is questionable.
NetWare 4.x is not enough to keep this company running on four cylinders.

What really bothers me about this company is that they are retaining two head offices. Silicon Valley is the best choice as that is where labour is plentiful so why keep Provo ? The scenic mountains is no reason to keep two facilities. Postcards of Utah on ones desk are cheaper than paying rent and taxes.

IBM with its recent announcment to cut staff is having +'ve impact on its stock price and this company prior to the announcement was generating in excess of $4 billion net each year. So why are they cutting costs ? What is is about NOVL that makes them so sure they are out of the woods ?

NOVL CEO is asking us to wait. Wait for the new products to roll out but he cannot guarentee success. As a matter of fact, he nor his executives has bought NOVL stock at these dirt cheap prices and unlike the new CEO at UNISYS. In the meantime, he lets his peopls fly around on expensive jets ... I am sorry but this does not add up.

If NOVL fails with this JAVA strategy in one year, he has nothing to lose. It is the shareholders. At least, he can tell his kids that he was a CEO at one time in his life....and that is why he took the job in the first place. He knows NOVL is in the deep. He knows that very well like the rest of us who have monitored this company over the last few years.

V.K
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