So whatÕs going on? Suddenly everyone on this board is writing like J.D. Sallinger, and IÕm impressed. Maybe the long term toxic shock of owning Ampex actually makes you more literate as you go along. Me, IÕm still in early toxic shock, for this go round at least. Perhaps IÕll never gain the insight that long term pain gives some people.
But some things keep coming back to me, for my sense of the >big Picture< although I canÕt >quite< sort out what it all means. The highlights:...
1. Two big loans for millions of bucks. Naturally, it seems like big deals will happen quick, considering the serious monthly interest charges. But nothing happens, and then a few mil go out for Micronet, which seems like a nice start. Meanwhile, thereÕs still all this cash waiting to be spent...
2. Letter goes out to shareholders. ÒHey, be cool for a few quarters, weÕve got a ÒconceptÓ weÕre working on....Ó The magic word ÒinternetÓ is waved in our face, and we start drooling. (This could be hype, itÕs such a trigger word- but maybe not).
3. 25 Employees get laid off. Bad vibes......
4. A deal is cut with ÒhappeninÓ PR Firm, Imagiao (sp?) Very good sign..
5. Little Bitty ad for ÒconsumerÓ person is placed on Ampex website classifieds, which give the impression that things are happening ÒquickÓ, ÒsoonÓ....(yesterday?). This seems too subtle to be a clever attempt at hyping the shareholders. Whenever that seems to be in order, Big Ed buys some more stock, usually when the price is moving up. Never when itÕs in the toilet. (To me, thatÕs just plain nuts).........
So why werenÕt they concerned about the interest charges when they first took out the loan, if they didnÕt have an immediate game plan (and they DIDNÕT)?. Well, maybe they anticipate some defense deals in advance, or other deals, and realize that they can handle and follow a longer term strategy. So Why didnÕt they buy a company when the market crashed a few months ago, and companies were going for peanuts? Hey, whatÕs the hurry, particularly if they know where theyÕre going? Or even think they know where theyÕre goinÕ. ItÕs a ÒvisionÓ thing........
ItÕs a little too discombobulated to make a clearly focused picture, but I could swear I smell pork burning somewhere in the distance. Or is it just the flesh of Ampex shareholders...........I havenÕt a clue, but I hope it tastes like chicken when itÕs done.........Ultimately, my senses break apart, and the only image left dissolves into a picture of Richard Pryor running down the street in flames.........
Therefore, I'm probably doomed Disregard this post.......Early Warning Toxic shock.
.ItÕs way past my bedtime. The little Wife went down to Florida for a few days to visit her daughter and grandson. I had visions of throwing an orgy or something here at the house. I settled for the two cheeseburgers for two bucks at MacDonaldÕs, a 12 pack, and the company on the Ampex board......
So much for the "vision" thing.
This has happened for the last two years in a row......Wait till next year....IÕll have Ôem standing in line.........
Al |
