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Gold/Mining/Energy : American Eco (ECGOF, ECX on Toronto exchange)
ECX 1.655-0.6%3:59 PM EST
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To: Michael Anthony who wrote (2037)3/6/1998 8:06:00 AM
From: Grommit  Read Replies (4) of 2841
 
Conf Call Tidbits:

1. Noteworthy that the analysts also were blindsided by the $1.20, perhaps the news did not leak.

2. Whoever posted that 'Mike never said $1.20' is clearly incorrect.

3. They were completely unprepared for the questions which indeed shows how inept they are at managing the investment community. 'Call back later if you have specific questions because we only talk in generalities', is what they seemed to say. Even the statements on the timing of earnings releases in the future were mealy-mouthed generalities with no specific commitments.

4. This was the 1st time I heard Mike, and instead of hearing a dynamic and eloquent individual, I heard someone read a poorly prepared text.

5. The backlog was the only significant specific mentioned which related to outlook for 1998. And they did not even say 'call us later and we will give you guidance' because they did not have a clue.

6. The intellectual level of the discussion was an embarrassment. I detected a lack of brain power when the CFO felt the need to discuss the effect of taxes on earnings.

I am in as much a quandary as the rest of you because the fundamentals of the business are attractive, but the management is not.
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