Hi Joe about E&Y
You said:
"Oh, and while I'm on my soapbox, who was it here that asked me last week "why" I slammed Ernst and Young? First of all I voted them OUT on my proxy back in April(was asked the same thing). I responded with a case brought up at that time including Informix. Now, I said last week "I don't believe those numbers" (Q4), and someone asks me why? And why am I slamming a big 6 accounting firm (the one that does Novell's numbers)?"
If you don't believe E&Y's numbers none of the numbers audited by Big 6 should be trusted, period. All Big Six are pretty much the same.
These quarterly figures have not been audited. If there is something wrong with them I won't be surprised if E&Y comes back and restate them. They just did this to my wife's company (Nasdaq:TEAM). Will they? Probably not...
Oh, by the way I voted them out too, I always do that to competitors<g>
Regardless, they seem to do very well:
>> ERNST & YOUNG WORLDWIDE REVENUES INCREASE 17.4 PERCENT; THIRD YEAR OF DOUBLE-DIGIT GROWTH - Ernst & Young, the global professional services organization, announced today that fiscal 1997 worldwide revenues grew 17.4 percent to $9.1 billion, the third consecutive year of double-digit growth. [PR Newswire, 559 words]
It has been a full year now since I first bought Novell. I bought Novell for all the reasons that have been restated over and over in this thread. Since I have a horizon of at least 3 yrs (min) to 5 yrs (or longer)I don't worry about it. It just is frustrating sometimes to watch this company's blunders when they could achieve so much. A year ago, we had Marengi pretending to be the boss, the channel was stuffed up to our ears, Young collecting the 10k per week (is he still doing that, did you ever find out?),etc... Now Novell has a visionary leader who I like, Border Manager, NDS for NT, Moab around the corner, ...Marketing remains the black hole. Anyway I feel much better than a year ago. If they don't make it someone will buy them out whether they like it or not. The downside is IMHO limited and the upside potential huge. Looks like a pretty "safe" speculative play to me<g> Oh, and I am not buying anymore unless it hits low 7's or lower...Besides, my Novell funds are part of my "mad money" portfolio <ggg>.
Next time I post anything on SI, with God's blessing, I will be as a father! |
