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Technology Stocks : Enterprise Informatics

EINF 0.510

0.0%

Sep 29 5:00 PM EST

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To: Greg h2o who wrote (2358)	4/8/1998 3:31:00 PM
From: Esoteric	Read Replies (1) of 13797

Erickson and Bruce announced restructuring plans to Altris staff over the past week - the aim is to balance the books. There were several lay-offs in the London office - mainly developers. Sunil Tanna (Jay's son) was moved to one side. The focus of EB development will now move to San Diego under the SD development manager. EB will be further delayed and they will find it increasingly difficult to maintain Pro EDM. They may try to persuade some key London EB developers to move to SD, but are unlikely to be very successful under the circumstances. Together with earlier lay-offs and resignations of several key people including the Managing Director, the staffing levels in London are about half what they were at year start. The San Diego office was not significantly affected by the changes. Existing releases of EB have limited functionality and stability problems, it is now unlikely that a fully functional release will be available until the end of the year. In the meantime they will concentrate on getting additional revenue from the existing customers with the old products. Sales departments are depleted at both locations. Staff will probably be given share options at post opening prices as an incentive to stay. They did pull it off in early 1990 when the share price dropped to 12.5 cents, but the market was different then. Announcements will almost certainly be made within the next week. It would really suck if trading was allowed to start on release of the revised earnings, before the new plans are announced! A buy-out for their customer list is a possibility, but how much is that worth? They may find a partner outside EDM, but looking to diversify. If not, and they do pull through, they will probably return to the mediocrity of old Apharel! What are the chances of selling at $3.5 or $4 this year? BTW: I've heard that Erickson had been plotting to ditch Jay Tanna for some time - who knows what really happened?

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