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Tom,
I am astounded at your ability to take good things of others and make them seem bad while taking the bad things of yours and make them seem good. Were you the primary consultant for the movie "Wag the Dog"?
Let's take a look at your incredible stock picking record since roughly the same time that you came over here to start bashing GLOW.
You said you have large accumulated holdings for LDRY, CD and OXHP. Since mid-April, these have done the following:
LDRY (Landry's Seafood, Inc.) dropped from 30 to 10 1/4 ($19.75/share loss or 65.8% loss). Currently 11 3/8 down 1/8 today.
CD (Cendant Corp.) dropped from 41 11/16 to 13 3/4 ($27.9375/share loss or 67% loss). Current price is 16 down 1/2 today. Discovered cooking the books (lying) about profits to the tune of $100 million dollars (so far). Sounds like just your kind of company....
OXHP (Oxford Health Plans, Inc.) dropped from 18 to 5 13/16 ($12.1875/share loss or 67.7% loss). Currently 7 1/86 down 7/32 today.
Also, put on Standard and Poor's Credit Watch for losing over a half a BILLION dollars THIS QUARTER alone!
Now this was taken from the AP release on August 11:
<<Oxford was once considered perhaps the best-run HMO, earning double-digit profits through growth as patients and doctors
flocked to join the managed care insurer known for offering broad access to specialists and relatively unrestricted care.
But last October it announced heavy losses because of billing delays and underestimated costs that the company blamed on computer problems.
Analysts said Oxford managers deserved much of the blame, and company founder Stephen Wiggins was replaced by Healthsource Inc. head Norman Payson.
Since last fall, the company has brought in a new management team and has raised $710 million in capital from private investors as part of its turnaround plan.
Jorden said her analysis of the company's efforts indicate Oxford will likely sustain further losses, but said she anticipated the
company would be in the black in the third quarter of 1999.
''I can see a clear path and we have a fantastic turnaround plan,'' Jorden said.>>
Now doesn't sound like another company's problem and solution? A company kind of like, oh, I don't know...maybe, GLOW? So if a losing a half a billion dollars in just three months is OK with you, why do you relentlessly beat GLOW down for trying to follow the same path for recovery?
You hypocrite!
--Rob Bowerman, Jr. |
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