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Technology Stocks : Premiere Technologies (PTEK)
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To: Brett Law who wrote (400)6/20/1998 12:41:00 AM
From: Phil Jacobson  Read Replies (1) of 1270
 
Nice PR story but nowhere near big enough to affect the stock. The real news is the company has just admitted it is very broken - huge bankrupt customers, expenses growing much faster than revenues, admitted need for a COO. This is indicative of a total lack of planning and use of financial reporting to manage the business. How can you have expenses get out of control like that and have it be a surprise? How do large customers go months without paying without the execs dealing with it? When problems like this happen it sheds a lot of light on the internal workings of the company...and suddenly a lot that was taken for granted by the Street becomes a tremendous risk for owning the stock. The stock will rise when they can show they have put the controls and processes in place that big companies need to make money AND cut big revenue deals.

Phil
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