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Technology Stocks : Glenayre Technologies(GEMS)- a pure cellular PCS play?
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To: oddmanout who wrote (2866)10/22/1998 1:10:00 AM
From: 8bits  Read Replies (1) of 3431
 
<<10% layoffs..why now? did mngmt just notice Asia?>>
They've made comments about Asia impacting their earnings for
almost a year. I believe this summer they were furloughing workers
trying to avoid a layoff. If you thought you business was going to
rebound within 6 to 9 months you might hold off on layoffs, severance
pay and worker retraining can be expensive. Of course so can idle hands. The company I work for Fedex, has never had layoffs in its
exostence (25 years) although they've definitely been through some lean times.

<<are these sales people or engineers?>>
I'd say sales, administrative, and manufacturing staff. They stated
that they weren't cutting Research and development. Also engineers are generally the hardest workers to replace in this job market.

<<Management is questionable>>

I wouldn't say questionable, not brilliant though. Not many Groves or Gates out there. They're making some smart moves for the long run, maintaining R&D expenditures. Consolidating offices. They're learning.

<< This is why GEMS is never more than just a trade>>

That's what it was for me until the down draft earlier this year.
My Dollar Cost Average on this stock is $11.50. The worst performer
in my portfolio. Luckily I've had a number of winners this year so I'm up about 25% overall.

Good Trading

Nick Baklanoff
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