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Technology Stocks : Exide: Overbought or bargain?
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To: Jerry Feder who wrote (99)9/14/1998 7:51:00 PM
From: Paul Senior  Read Replies (1) of 125
 
Well, maybe you missed a few posts whilst out driving your Ferrari. . Let's see. Barron's writes several articles ripping the business practices of the company. Worth magazine rips the CEO for lying to analysts about earnings. SEC and State of Florida continue with their investigation of the company's alleged practice of selling new batteries as used; other allegations and rumors come out about large rejection rates of their "Die Hard" batteries (I will believe these rumors are by the short sellers); and lastly the management team stumbles in their attempt to take the company private.

But they've got the NASCAR battery. Yippee. When I went to my local Pep Boys that's all they sold of Exide. They gave up the other EX battery biz. to someone else. But the NASCAR battery was - to me- some outrageous price -- maybe 1.5X the price of a good cranking 5-year battery for normal cars. And maybe there's a good tie-in with NASCAR now. Like buying that leather NASCAR jacket for $150. No way for me though. Got my EX battery at Sears.

I have been following EX since about 1995 I think. I don't EVER recall analysts estimates being anywhere near what EX has reported. The estimates have ALWAYS seemed to be higher than the actuality. Or it sure feels that way to me. So I am leery of analysts estimates.

JMO and I'm long EX. I believe in the business model (consolidation of industry, megaplants, emphasis on supply chain management at retail level). I occasionally have added to my position at these low (below book value)levels. Paul Senior
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