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Technology Stocks : Adaptec (ADPT)
ADPT 18.04-0.2%Jan 14 3:59 PM EST
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To: The Philosopher who wrote (3479)8/24/1998 10:50:00 AM
From: Jim Switz  Read Replies (2) of 5944
 
Just wanted to post briefly that I'm finally back from Bay Area. Will read through all the messages since I left and see if I can fill in anything at this late date. I took a fair amount of notes and will write something up.

Overall impression: they're trying to buy time with shareholders for a few weeks while putting together a coherent vision of management intentions. Can't fault them for not commenting on financial expectations; this wasn't an analyst-guidance conference (if they had made new projections without analysts in attendance, all hell would probably break loose) and they probably don't have enough info themselves yet to even know how things will be when the quarter closes.

I don't recall them addressing an "Intel buyout" specifically at this meeting, but this was specifically denied at the employee meeting a couple of weeks ago and I think has been reported elsewhere. I *do* believe that a hostile takeover (by Intel, Carl Icahn, some other raider - who knows?) is probably management's biggest external fear right now.

One thing Boucher is trying to make clear is confidence that the company has faced much bigger challenges in the past (when Boucher and Adler were both in management positions) than now, and that they can fix this mess. We'll see.

If it hasn't been posted already, note that a conference call is scheduled *during* the quarter, and will be widely publicized as opposed to the usual "analyst-only" CCs.
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