Well, I'm happy to say we did pretty well this week, up almost 20% since the news. Good volume on Monday and today. I'm hoping we'll continue to trend upward and break through the 8 1/2 resistance next week. :-)
anyone know any compelling S.T. "reason" why it might do so, this time ?
Jim, I know you don't do fundamentals but Bruce Bond, the new President and CEO, has good potential to turn this company around. Now that we have this $200 million lawsuit off our shoulders, the company has no excuse but to prove itself in the coming months.
This company kind of reminds me of Micron Electronics (MUEI). It has great products and receives nothing but award after award from the various magazines. What's keeping MUEI down is crappy management. Hopefully that's not the case here and Mr. Bond does a good job in steering this company around.
Just as a reminder of Bond's experience, here's an excerpt from a Feb 10 press release:
Bond comes to PictureTel from ANS, the networking subsidiary of America Online, Inc., where he has served as chief executive officer since July 1996. AOL recently sold ANS to WorldCom, Inc. At ANS, Bond turned the company into a leading provider of business network solutions. Before joining ANS, Bond spent seven years with British Telecom, where he ran the company's largest business division with responsibility for $10 billion in revenue and $2 billion in annual profit.
"Bruce Bond brings a tremendous amount of hands-on experience in both traditional telecommunications and - most importantly - the burgeoning IP world," said Dr. Gaut. "He took ANS from a start-up with no products, sales or marketing to a leader in the IP space with award-winning remote access and firewall products. Bruce has the insights and perspective that will be vital to expanding PictureTel's role as the world leader in the rapidly changing videoconferencing industry."
Before joining British Telecom in August 1989, Bond was corporate vice president for strategic planning at US West, where he was responsible for driving the long-range plans of all of the company's 43 subsidiaries. Prior to US West, he held a variety of executive posts in planning and marketing with AT&T.
"With its enormous assets -- including an outstanding corporate customer base, worldwide distribution channels and partners, a strong technology foundation, and talented people -- PictureTel is well positioned for leadership in the next stage of videoconferencing," said Bond. "Until now, videoconferencing has been peripheral to the corporate networking environment. PictureTel's goal is to be the leader in videoconferencing as it becomes integral to the new collaborative business networking environment that is beginning to emerge. This is an outstanding position from which to bring increasing value to PictureTel's customers, shareholders and employees."
Good Luck
Ahmed |
