Mr. Green Responds
Hi Everyone,
This is Rose for Mr. Green. Please excuse any errors I make in delivering his messages I do not write so well as he does. However, Mr. Green will read over before I send.
Anyway, Mr. Green has been slow since as you might imagine it has suddenly been very very busy. He has a couple of responses:
(a) As far as buybacks go, this is something that has already been asked of MRVC to consider, in fact during a recent phone call with several analysts it was asked. They (company) have no intention, and seem unresponsive thus far to this suggestion.
Mr. Green feels that for a company like MRVC it is both good and bad to buyback, however, he feels that when things settle down that it might be a good idea to announce a limited buyback. He is willing to ask them about this, see (b).
(b) Regarding breakdown of $23M restructure costs. Mr. Green does not have the accounting forms on this (did not carry them away), but plans to clarify with MRVC via phone call this week (stock buyback too) on this issue, so will wait to give clearer answer until have the better figures in front of him. However, he stresses that he found nothing out of the ordinary - Zyplex was a "fat" organization which required a lot of cutting which will result in many cost savings. He recalls that the 10-Q from that quarter, while nonspecific, was accurate in content and agreed with what he found on his visit.
Rose for Mr. Green |
