Dear Count, you gotta love that Presstek!!!!!
Pierre is a trip. Sometimes I think he must amaze even himself! What's the opposite of cheerleader. Isn't there a book that one can look them up? You know, they're antonyms or something like that. It means the opposite, like sad is the opposite of happy. Well, that's Pierre! He comes on and criticizes anyone happy, up beat, cheery because he's down, depressed, sad, and he wants everyone else to be just like him. Just everyday business for the pessimistic bears. But not so for the optimistic bulls. The longs have learned to let the shorts' whining and crying just roll off our backs. As a matter of fact, we laugh at the shorts getting so frustrated that they can't upset us. Even getting us suspended for saying things they don't like and we still don't stoop to their level. Go figure.........
In the future, when one of the shorts makes reference to "cheerleading" or any synonym of cheerleading, just replace the word in your mind with "happy" and replace the name of the short with "sad" and you will more clearly understand the situation. Whaddya you think of that idea? Let's try it out!
I suppose that I should feel pretty good about the fact that I'm rubbing Pierre(sad) so raw with the things I say about Presstek. He's even keeping me in the conversation when I'm thousands of miles away! That's influence! I'm honored! I must be doing something right!!!
Now, folks, allow me to set the stage for what led up to all this whining about Nanny's cheerleading(happy).....Presstek issued a press release announcing the deal with Horsell Anitec and WesMar(happy) posted the release. He started the post with "More great news for Presstek. Just got to love it." And below are the posts that followed.........
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Post 7062 from Pierre(sad) - <<<Wes you sound like one of Nanny's cheerleaders. Keep it up and I'm sure that Santa Nanny will have something nice under the tree for you.>>>
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Now, isn't that nice. I'll remind you that Paul(sad), on many occasions, starts his post with "more bad news for Presstek" to get your attention to anything he's posting whether it's bad news for Presstek or not. I guess that's okay with Pierre(sad) because he's never complained about it. I'll also remind you that Nanny(happy) had informed everyone on this thread a few days before hand that she would be away for a few weeks......although, apparently, Pierre(sad) did not want her to be away at all cause he kept her here in the conversation!!! Then Count Gold(happy) responded.....
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To: Pierre Panet-Raymond (7062 )
From: count gold
Friday, Nov 21 1997 9:24PM EST
Reply #7077 of 7143
*****OFF TOPIC*****Pierre....in the past, when PRST was going up as it did
today, you seemed to get a case of the nasties. Now it's happened again at the
expense of WesMar who doesnt post here very often. I re-read his post and there was
nothing in it to elicit that kind of snide reaction... nor was his post addressed to you.
Why dont you apologize to him for a low blow and we can go on?
Count G
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Then Pierre(sad) tried to justify his actions.......
To: count gold (7077 )
From: Pierre Panet-Raymond
Saturday, Nov 22 1997 9:51AM EST
Reply #7080 of 7143
"Got to love it" is a snide ,off the cuff remark also imo addressed to all the bears. There
was no content to his post to add to the dialogue. My comment was of course more
aimed at Nanny, who barged on to this board in August with no meaningful content,
only Be long or be wrong, you got to love it etc. Never once has she contributed
meaningful information to this discussion. You have to have faith, blah blah blah. Rather she has cut off dialogue thru her litigious threats against those that dare to voice another opinion about her beloved stock.
No I won't appologize. None is called for. Lets keep this board to meaningful
discussions about the merits, or lack thereof of this stock, rather than juvenile
cheerleading from the sidelines.
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Once again, Pierre(sad), being the expert that he is, insists on denying anyone the right to be on any side of an issue but his side. If you are opposed to his opinion, you must be wrong, as in cheerleading(happy). Fortunately, Count Gold(happy) did not allow Pierre(sad) to be the sole player in this game and actually helped Pierre(sad) recall the facts!.
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To: Pierre Panet-Raymond (7080 )
From: count gold
Saturday, Nov 22 1997 9:26PM EST
Reply #7090 of 7143
Pierre: it was your SNIDE comment about Santa Nanny that reminded me what this
thread used to be in the days of Ivan, Richard Z and Pee-air when the atmosphere was
full of threats and ridicule. It is YOU who seems to long for the good old days...the
days before "she cut off the dialogue"....do you miss those days when the acrimony
filled the aiir like gunsmoke???? Have you been prevented from behaving the way you
would prefer to behave????....the way you responded to WesMar????.
It was YOU who became "juvenile" with your response to WesMar and it is you who
is setting yourself up as an authority to decide what kind of posts, regardless of how
mild-mannered, are acceptable on this thread. It is YOU who seems to think that you
have the authority to insult people and that certain longs should stay on the sidelines.
Much of what YOU post here is opinionated garbage but no one has suggested that
YOU leave the thread. Have they???
Be a gentleman, Pierre,.....apologize to WesMar and we can move on. He has just as
much right to post here as you do without the snide retort you shot back at him .
Count G
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You gotta love that Count(happy)! He has a way with words like none other!
---------------------------------------------
To: Pierre Panet-Raymond (7062 )
From: Pierre Panet-Raymond
Monday, Nov 24 1997 10:50AM EST
Reply #7100 of 7143
I appologize for what you and others on this board took to be a personal attack. I
percceived your comments to be flippant in nature because we collectively have no
means of judging the significance of such distibution aggreements. My reply to you was
factual though in pointing out the other European distribution agreements already in
place. To keep it civil I should not have added the last editorial comment.
We on this board all have different perspectives, but our contributions should be
limited to the merits or lack thereof of the stock based on fundamentals and technical
analysis. The analysis of the fundamentals often leads to different conclusions, but that
is healthy.
Sincerely
Pierre
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Pierre(sad) is telling us what can and cannot be said on this thread and he wants us to believe that he knows more about this company and this industry than anyone else ever has and ever will! You might say that he thinks he knows-it-all.....and just to prove it, I've posted what I believe is his very first post below. Notice how much he thought he knew and how much he has been TOTALLY WRONG about. Would you want to buy a car from this guy? Would you want to trust your retirement to this guy? Would you consider buying a stock that an old lady is cheerleading(happy) about? Would you want to shut her up just because you disagree with her beliefs? Would you call the webmistress and try to get her suspended just because she disagrees with your opinion? Would she behave the same way? Read what I believe is Pierre's (sad) first post and Nanny's(happy) first post and draw your own conclusions. They're both below:
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To: David Pace (608 )
From: Pierre Panet-Raymond
Monday, Jul 1 1996 5:20PM EST
Reply #609 of 7143
To all you PRST Bulls on this most amusing stocktalk board, what are you guys
smoking? I have seen very little in the way of fundamentals being discussed here so lets
begin.
1. Who cares about the patents? Fuji, Kodak, Polychrome amongst others don't and
their attitude is " if the installed base of QM-DI's reaches a critical mass then they will
be there with plates that can get around Presstek's patents". I was told this directly by
high ranking officers of each of those entities within the last two weeks. Don't you
think that Heidelberg would rather have a multitude of sources of supply for the
QM-DI's? They sure do and have approached each of the above in that regard.
Certainly the end user, the press owner would much rather have numerous sources of
supply of plates or any consumable for that matter. The last thing any consumer wants
is a high priced proprietary product. This only limits the size of the ultimate market.
2. Why have there been so few QM-DI's shipped since their splashy intro. at
DRUPA in May 1995? The BETA units were plagued with wash-up problems
occurring between the imaging of the plate and prior to printing in which the ablated
carbon black material needed to be wiped off before printing. It is my understanding
that Heidelberg is blaming Presstek for this problem and they have consulted with
some or all of those names listed above in 1 above to help fix the problem. At present I
understand that Heidelberg is restricting production to 10 a month with an eventual
target of 20. Presstek stated on June 6, that they had shipped 195 Kits which
according to my math, means that Heidelberg have a 9 to 18 month supply on hand
and Presstek could be facing an inventory problem. Presstek also stated on June 6th
that production is scheduled to increase to 40 per month commencing in Q2 1997. I
am trying to get an official projection from Heidelberg, but 40 per month seems awfully
ambitious.
3. The Printing plate business is a highly competitive global one dominated by the giants
of the chemical world. The business is characterized as high volume/low margin, so it is
utopian for the Carlton Lutts' of this world to think that Presstek will be able to
achieve 84% margins for ever into the future. By the way it should be of concern to
you Bulls that Presstek has consistently miss-spelt the names of at least two of its
potential competitors, Crosfield division of Dupont, and the Howson division of
Dupont. See p 15 and 16 1994 and 1995 10K. You Bulls better hope that Presstek
are better marketers than they are spellers!
4. Why did the order backlog shrink from $26.8 Million at the end of Q2 and Q3( p
12 & 11 respectively of 10Q's) to $16.8 Million at year end? It is interesting to note
that they did not provide the figure in the Q1 10 Q. These numbers don't seem to
reflect a rapidly growing order book from their one and only bona fide customer to
date!
5. Having a part time CFO is the equivalent of a city having a volunteer fire
department!
6. The hue and cry which has arisen over the patents in the last 6 weeks was all
Presstek's doing. You might recall that on April 27 1995, Presstek sued Agfa over
misappropriation of trade secrets regarding Presstek's direct imaging plate
technology. The next day Agfa announced their intention to launch a patent
infringement suit against Presstek. This was the last anyone heard about this matter until close examination of the 1995 10K announced that the legal action launched by Presstek in New Hampshire had been stayed in order for the arbitrators at The
International Chamber of Commerce to determine the issues. It was during this
arbitration process that Agfa produced substantial "prior art" such as the Eames patent
of 1974 which of course is now in the public domain. Hence anything that Presstek has
subsequently done in asking the patent office for a re-examination of the crucial plate
technology patent has been a direct result of the arbitration process, not simply at the
company's request as reported by the company. Sounds like a lawyer splitting hairs
here.
7. Most technology companies at the leading( or better bleeding edge) are headed by
young management teams. If you look at the Proxy for this year's AGM, you can
make note of the fact that the average age of the Directors and senior officers is 62,
and that number is significantly pulled down by the inclusion of Lawrence Howard at
43! Not exactly a Microsoft here.
8. Yes the PEARL technology has a niche to fill, but it will not be found in quick print
shops around the land as it is a press and contrary to the company's statements in the
10K (P4&5), less operator skills are not what is needed here. In fact due to it's
nature the QM-DI requires more skills in some ways as the press operator also needs
to be well versed in the digital domain as well! In fact one requires at least five years of
Adobe Postscript outputting desk top publishing files in order to receive a QM-DI in
the initial rollout.
9. One of the limiting factors in the QM-DI's global penetration efforts will be the
lack of Desk Top Publishing capabilities in most areas outside of Europe and North
America.
10. Further hindering this in Asia is the lack of software for word processing in the
"character languages". So don't expect to see QM-DI's in Japan or China any time
soon.
11. In terms of the larger format press, remember that Heidelberg had the right of first
refusal to build any future presses incorporating PEARL technology and they passed
on the 19 X 26 inch format. Adast and Omni-Adast has very little penetration into the
North American press market especially at this price point. Adast is known for its
cheap presses.
12. The recently launched class action suits are not launched frivolously anymore due
to the actions of congress over the last few years. If you lose a class action suit the
plaintiff can be assessed with costs under the new " Safe Harbor" provisions. This
change has substantially reduced the number of class action suits and when one is
launched, it usually has merit
13. Nobody is going to take over Presstek at current levels! The company, its patents
and technology are not worth anything close to the $1 billion that its market cap
indicates. Radically new technology from companies such as Man Roland, Scitex,
Creo Products, Kodak, 3M, Polychrome and others will likely obsolete Presstek's
aging technology within 2 years. In fact if Presstek were to be put into play today, you
would be hard pressed to find one legitimate buyer willing to pay even $50-100 million
for the entire company. That folks works out to about $ 3.13-6.25 per share!
Yes I do own a few Puts, but who wouldn't after the massive amount of time I've
put into this project. In case you are wondering, my work background includes 20
years in the investment and corporate banking fields preceded by 5 years in the Paper
and printing industry.
------------------------------
And now Nanny's(happy) first post.........
To: JFD (5167 )
From: Nanny
Tuesday, Aug 19 1997 7:59PM EST
Reply # 5169 of 7143
Believe me, the bears will see to it that there are stories!!!
Allow me to introduce myself! I'm new to the thread, been reading these post for the
last few months and could not resist any longer. Another long had to weigh in. I've
been long since late '93 and have no intention of letting the bears scare me out
(although I must admit I did have to question my commitment a few times since reading
this thread). Just hang in there, longs! Great things and prices are just around the
corner!
Today turned out to be a pretty good day after all.
Nanny
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You tell me what all the fuss was about. Pierre(sad) just can't stand someone disagreeing with him. If you disagree with him, you must be an enemy. Shorts(sad) are always wringing their hands and telling us all what's wrong. Longs(happy) are never wringing their hands and are always smiling whether their stock is up or down because longs(happy) know that all the worrying in the world won't make the price go up. Shorts(sad) want the longs(happy) to be as miserable as they are. If longs(happy) are making money, they must have done something illegal to cause the shorts(sad) to lose money. Shorts(sad) want to redistribute the wealth of wise investors to the obnoxious, ill informed losers that were too dumb to realize that they were on the losing side of a trade. Shorts(sad) want the longs(happy) to be wrong when they tell them that the mother of all short squeezes is just around the corner. Shorts(sad) just don't get it and are totally out of touch with the rest of society which leads me to believe that there's only one answer for why someone is short(sad): They must be liberals!!!!! Liberals don't want to work for it.....they want to take it from someone who earned it....who put in the effort to accomplish a level of success.....who put their money on the line to take the risk and build something instead of using someone else's money to try to destroy what someone earned....the typical "redistribution of wealth" attitude of liberals.
Santa Nanny(happy) may have something for you under the tree, Pierre(sad)- new shorts to cover your butt with after the short squeeze leaves you buck naked. With a little help, it could happen by Christmas and really give me something to be cheerleading(happy) about.....then my only question to you would be - boxers or briefs?
Finally, you gotta love that Presstek, way to go Presstek, more good news for Presstek, what a company, that Presstek! Be long or be wrong about Presstek! There's no fool like an old fool.....if you're not long Presstek! (I'm doing this to see if I can see the steam coming out of Pierre's(sad) ears!!!)
Did you miss me?
Nanny |
