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Technology Stocks : Cabletron Systems (CS: NYSE)
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To: BMcV who wrote (5400)12/3/1998 8:51:00 PM
From: Pruguy  Read Replies (1) of 8358
 
Let me sum it up the way I view it. CS has an excellent customer base that is not as excellent as it was 1 quarter ago. Both AG Edwards and Meryl upgraded the stock to a buy in the last 2 months. Obviously IMHO, they did this and discussed the business with mngmt. before upgrading. They were not given a valid picture of the business as it is operating. This is consistent with the way CS hides information from shareholders, ala, the conference call. They play Bensons speech and then open it up to Q&A. Then the phone disconnects. Those invited to the CC know more than those not invited. I places 3 calls to the company today and did not get more than 1 call back and that msg. just had the # for the partial replay of the CC. Company says this is a technical [problem, but if this was true they would have fixed it or pulled the plug on the replay til it could be played in full. I have been burned by more bad investments than I care to remember, but only 1 other situation involved deciet like this. That company ended up paying out a sizable sum in a lawsuit. I would like some support to sponsor a lawsuit. If any atty's feel there is a case here or if someone can refer me to one, please e-mail me or post it to the board. This is the worst display of self-serving managemnt I have ever witnessed in anything other than a bulletin board Co. Despite the excellent technology this company owns, there really should be major board and mngmt. changes before we see the company go the way of the buggy whip. It isn't to late yet, but this managemnt team and board will never regain the lost credibility on Wall Street.
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