Rod, I don't know what is up with you but you have to be one of the most un-informed emotional investors I have ever come across. First of all if you think all the money that went into R&D for Office for Java went down the toilet, your nuts. The problem with Office for Java was not entirely COrel's fault. Sun hyped the ability of Java and backed it with cooperative development dollars. When Sun was unable to come up with the next version of JDK fast enough, that is when it became apparent that Java, in its native form, was not a platform that an entire application suite could be developed on. Corel did not stop here. Corel used its vast knowledge of Java to build Jbridge (which if you know anything is the first iteration of many java based technologies to come). As you can see by the ripples the Sybase deal is making there is much merit in the Jbridge technology. You can tread all you want on Mike Cowpland but he is the visionary that has always and continues to drive Corel's talented engineers into the next generation of technology.
On WordPerfect Suite 8. This product has been tested and reviewed on every aspect of functionality by independent agencies and consistently wins. Keep in mind the product wins in the absence of multi-million dollar ad campaigns with industry magazines. Here are a few:
"..the new version leaps ahead of both Microsoft Office and Samrtsuite in the consistency of its toolbars and the compact efficiency of its design." Edward Mendelson, Computer Shopper, June '97
"Just when it looked as if Microsoft Office would conquer the desktop with dreadnought certainty, WordPerfect Suite 8 appeared, and its more than a great suite. Using it is like discovering you're a virtuoso pianist." Ron White, PC Computing July 1997
"Corel's Quattro Pro shows significant improvements to back-end code and interface in its latest release, Quattro Pro 8. The improvements surpass those of te Microsoft and Lotus spreadsheets ... Quattro Pro is easily the most improved application of this bunch. Its performance surpasses that of Excel in many instances." Jason Byrne, Government Computer News, August 25, 1997
WordPerfect represents more than a dusty DOS product re-packaged. Remember this product would still be sitting at version 7 somewhere in Novell's offices if it wasn't for Mike Cowpland and a team of great engineers.
On graphics. If you took the time to research exactly what Microsoft's entry into the Graphics market is going to be you would find that it will be a consumer oriented sub 100.00 dollar price range product. Not to mention Microsoft will have its own file format, let see how quickly the graphics industry accepts that. Microsoft's entry into graphics market will most likely compete with CorelPrint Office or PrintHouse Magic. Microsoft would be hard pressed to release a product that could rival the eloquence and engineering excellence of CorelDraw 8. Just look at Windows 98, a flagship product with billions of dollars of R&D invested, you can hardly call it innovative.
On Corel. Right now I wouldn't put money I could not risk in Corel. Not because of poor managment, or a decaying infrastructure, but because of the market. Let's see what happens this quarter. I think you will see another improvenment in Corel's operating and financial postion. If so, we are going to see the beginnings of a new company. A company based on technologies of the next generation of computing. A company very well positioned to be a player. Corel's stock performance isn't due to poor management. Corel took a huge risk in competing with Microsoft and trying to mold new technologies. Right now the market doesn't think those risks are going to pay off. However, over the next two quarters we will begin to see some payoff. WordPerfect has increased its over-all marketshare to 30% and Jbridge (born of Office for Java) is beginning to hold its own. The company could very well go either way. But I gaurantee you that if it turns for the better Corel will be larger than it could have ever dreamed to be with just CorelDraw (look what lack of innovation is doing to Adobe). Mike Cowpland will again be seen as visionary and you my friend will probably be bullish again (that's if you don't let your emotions get the best of you)
That brings me to you Rod. I may be wrong, but I guess you live in Ottawa or you are at least familiar with the goings-on. And with your traditional Canadian demeanor get very upset to see the ultra-success of a fellow Canadian and rather relish a fellow-countryman's failure. You probably get really steamed when you see a wealthy man driving down the Queensway with a beautiful woman in an expensive car. In the states we call it the American dream and it kinda makes your heart swell to see it.An American knows with hard work and dedication it can happen to anyone. You can be bitter all you want and claim that Mike Cowpland is living off ill-gotten goods from his stock sell. Beleive me, I am sure that stock sell is a drop in much diversified bucket. As you can see from the progress of the investigation, no wrong-doing has been found.
Maybe you should turn inward for a moment and look at what is motivating you (it definately is not an objective sense of investment). If I am right and you are Canadian, you should be ashamed of yourself for tearing apart such a great Canadian institution. Regardless of whether Corel is buy or sell or short, it is an amazing company that has done some courageous things. Whether it will pay off is yet to be seen. You can say anything you want about the stock performance, but you don't have a leg to stand on if your bashing the products or the talent.
spare me any typing corrections as I don't have time to proof |
