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Microcap & Penny Stocks : JTS- "A Nordic Drive in Every PC and laptop"
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To: Christopher J. Harper who wrote (1641)12/17/1997 7:30:00 PM
From: tbevan  Read Replies (1) of 1985
 
Someone named info_7 on the yahoo! jts thread made this interesting post. I have no idea how much accuracy there is to what he says, but it sounds very informed.

1. The Indian factory has an excellent cost structure - 40 % of the cost of a similar factory in Malaysia or Thailand. But remember material cost is 70 - 75 % of the whole.Factory has (had!) some excellent/dedicated technical & operations people

2. JTS has very severe financial problems - can't pay for their materials or equipment.

3. Not very many vendors are willing to supply them key components - like heads, media, PCBs.

4. There is too much ego amongst the top brass - this is one singular reason that the company has been brought to this stage.

There are 3 known groups inside )probably more & several sub-groups within these:

Jugi Tandon & his cronies-->>Too much nepotism & unethical things
Tom Mitchell & Ken Wing-->> have lost their edge
The old Atari (Tramiel &)gang-->> Sleeping ??

Jugi Tandon & his family --- >>> They have a string of failed companies, " Unprofessional Family run businesses ".

One good example: An incompetent son-in-law of the family running a key Engineering position in the factory. Singularly he has been responsible for the defection of a ton of good engineering talent from the factory.

Most of these good engineers & other staff are with drive/component companies in the far east - like MKE/Quantum, Integral, Magnecomp, WISRS etc., ( Totals well in excess of 25 + people who quit in the last 4 - 6 months).

Summary: Unless jokers like these are fired, the work of 5000 + people in the factory will of no relevance as the orchestration is not right.

The San Jose facility is so top heavy - everybody other than the Receptionist & the Janitor is a V.P. - too top heavy & really have to question what the hell they are doing for their money.

Of late, there has been a mass exodus of good talent (leaves behind the dregs ??) from San Jose.

Bottom Line on what the Shareholders can do:

Kick the Senior Management including Mitchell, Tandon & wake them up from their wayward ways.
Demand more open communication & ask them point blank if they can do anything about this sinking ship.

Mitchell seems to be a man who does not have the fire in the belly of the good old Seagate days when he was really effective.
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