Adaptec (ADPT) Message Board

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Technology Stocks : Adaptec (ADPT)

ADPT 17.78

-1.4%

Jan 15 3:59 PM EST

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To: Starowl who wrote (3522)	8/26/1998 10:57:00 AM
From: Patrick O'Connor	Read Replies (2) of 5944

A message from thwe yahoo board. :Business and Finance:Stocks:Technology:Computer Peripherals:ADPT (Adaptec, Inc.) <- Previous Next -> Message 11235 of 11260Reply Research 99hochiminh98 Aug 25 1998 12:58AM EDTResearch 99 Your are very accurate with this statement "There was other stuff there that was pure sugar-coated corporate B.S. Larry talked about how great the team is and that it's critical for them to understand the strengths and weaknesses of the team" Most of the talented employees that including engineering and marketing left already and more will continue to leave (including myself). I can only speak for myself and I hope others insider (Bimbotu, Adptrader, ect...) will see the same way as I do that Mr. Boucher and Mr. Adler are setting up Adaptec to be sold. Who will be the buyer, no one knows. Here what I know that can back up my statement: 1. We got rid of Ridge (200 layoff in 4/98 and 350 in Singapore) 2. We will announce the layoff/rift/whatever of the Fibre channel team. Like Mr. Boucher said, focus on SCSI. 3. More cut back on the SCSI/RAID related business. Yeah our core business!!! 4. Warn other businesses that if they don't meet their numbers by quarter end, they are history. 5. I am involving in developing the engineering project stacks that started 9 months ago. They are exactly the same as today. They are all joking around whenever this meeting takes place. Especially our head of the engineering team; Doug Mackenzie, the joker!!! 6. No directions or strategies from management. Our manager doesn't have the answers. 7. Everyone in our office talking about the company situation insteads of spending their time in the actual work to turn this company around. 8. Not actively looking for a CEO. No full time CEO or CFO right now. I can only present from an insider perspective, but I am sure there are outside opinions looking in in a different angle. I was excited at first when Saviers got thrown out, but now I am frustrated of the NO changes situation right now. I lost a lot of money so far and lost faith in this company. I am very sorry to present my honest observation in a negative manner. However, I hope that any of the insiders will shed some positive light on this. I doubt it... Good luck to all who had high hope in Adpt...

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