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Non-Tech : Any info about Iomega (IOM)?
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To: Les White who wrote (45280)1/24/1998 2:32:00 PM
From: John Alan Wallace  Read Replies (2) of 58324
 
<<<And one other thing I'd like to see. INSIDER BUYING! If you're listening KE, how about picking up a big block with all that money you made on your sell! If you need a house, give yourself a raise.>>>

If I were to see insider buying now or the company buying back stock, I would be really pissed! Why? Build expectations with the 3d qtr CC, give out enough information for us to figure out that Zip sales went over 1 million per month, hype Clik! at COMDEX and the New York show. Then and only then, split the stock at a low price, miss earnings (by less than 5 million when you had at least another 8 million that you could have put on the bottom line), then give out what is surely perceived as a down CC where you present a basic change in company expenditures and make it SOUND as risky as possible. Then you can buy all you want as an insider or company.

If it walks like a duck and quacks like a duck.....

That said, I want to make it perfectly clear that I take full responsibility for my losses, there is nobody else to blame. However, if the actions that happened above were planned then those who planned them should also get what is coming to them. If I see insider buying, stock buybacks or any very quick and smooth takeover then I will be convinced that it was planned. Management has indeed let the shareholders down.

JW
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