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Technology Stocks : Seagate Technology

STX 296.36

+1.5%

Dec 19 4:00 PM EST

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To: Joe E. who wrote (4596)	1/22/1998 1:42:00 AM
From: nick cash	Read Replies (1) of 7841

i would encourage all of you to listen to the conf call replay-# is on the seg investor relations site i believe. being a $ manager i've listened to over a thousand of these and was really struck by the honesty and irritation of the different area managers for the situation they are in. a lot of soul searching going on there. seg has been run very poorly for a long time-something that they have gotten away with in the past due to their dominance in the high end. they have a long way to go in quality control and time to market but i believe, after listening to the call, that they are committed to truly restructuring this company. costs are going to be scrutinized going forward following a period where this aspect of running the business has been very much overlooked. bottom line is that we have a company that can be run a hell of a lot better and given their still formidable position in the market, a well run seg could be a damn good investment at these levels. they have a long way to go but that can be viewed as a positive (an opportunity) as successful change will show up on the bottom line if it occurs. market factors in this commodity business are still the most important issue in making an investment decision in this sector BUT there is a lot of potential for improvement here unrelated to these factors. not a perfect analogy but the mismanaged auto's of the 80's and ibm come to mind. message i got was "we're embarrassed at what a pathetically shitty job we've done running this company. we know it. we take responsibility for the things we have contol over; and we have a plan to change things and the wheels are already in motion. it's going to take a few quarters but we'll be a hell of a lot better company for investors and customers a year from now." whether drive prices will allow these these changes (if successful) to make the bottom line and stock price shine is unknown though. regardless, i think they will be better positioned a year from now than they are now whatever the market conditons are then. a lot more rah-rah than i usually am- just giving my take on the call. apparantly others agreed (at least today). to disclose- i have a position in seg (in case you hadn't figured that out!). all certainly imo only....nick

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