Christopher: I have been devastated by the surprising turn of events with Adaptec since January. Grief, anger, denial--I've had them all. But I am recovering, although I'm not sure I'm on the right track with Adaptec. I believe, though, that things will be set right.
Does anyone know what all the recent changes will mean for Adaptec? What reduction in operating costs will be seen by the divestitures of fibre channel, RAID/storage, satellite network staffs and equipment? If SCSI and other I/O equipment (and the Easy CD software) sales remain the real profit makers of the company, do we assume that profitability will increase for the parent company called Adaptec? Or are the operating costs of the areas divested proportional to the profits (if any) they brought to Adaptec? In other words, if those parts of the corporation were like Coleridge's fabled bird around Adaptec's neck this past year, can we expect their severance to begin eventually to slake the thirst of us investors by this so-called return to profitability projected by Boucher?
And what about these new "equity interests" the company is acquiring? By retaining those interests, one presumes Adaptec expects those outfits to be profitable and not just a means for dumping parts of the corporation. I don't think Boucher and Adler returned to screw things up. I think they returned to make things right. We all know, however, that the market will have a big influence on those efforts.
Re. your "I want somebody in charge who has a LOT of stock"--care to take the job? Seriously, you make a good point. But what matters to these people who have already made it financially; more money? Maybe, just maybe, their reputations are more important to them. Truly, why on earth would anyone come back to the helm of a company that has suffered so much and in this uncertain market? Who would need these problems other than someone who believes they have or can find a solution?
Don't lose heart!
Starowl |
