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Non-Tech : Any info about Iomega (IOM)?
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To: Mel Boreham who wrote (38261)12/3/1997 8:10:00 AM
From: Teddy  Read Replies (2) of 58324
 
The Wall Street Urinal makes a slight attempt to say something positive about Iomega.
Dow Jones Newswires -- December 3, 1997
Ringgit Drop To Help Iomega Malaysia Ops 'Temporarily'

By Murray Hiebert

PENANG, Malaysia (AP-Dow Jones)--Iomega (Malaysia) Sdn. Bhd. chief
Lubbo Luken said he expects Malaysia's recent currency depreciation to
have only a 'temporary benefit' on his company's operations.

Iomega (Malaysia) is a unit of U.S.-based Iomega Corp. (IOM).

The Malaysian ringgit has fallen roughly 40% since July, pushing down the
cost of salaries and local inputs for multinationals such as Iomega that are
paid in U.S. dollars for their exported products.

'I assume over time, maybe 12 to 16 months, things will equalize again,' said
Luken, the managing director of Iomega's Malaysia operation. He expects
Malaysia's dependence on foreign imports to push up local wages and the
cost of local inputs.

Iomega, which is listed on the New York Stock Exchange, in July 1996
opened its plant in Penang to produce jaz disk drives and zip drives for
computers. Iomega products are sold by retailers worldwide and used in
computers manufactured by such companies as Dell Computer Corp.
(DELL), Apple Computer Inc. (AAPL), NEC Corp. (NIPNY), Packard
Bell-NEC and Sony Corp. (SNE).
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