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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 11.28

-3.8%

Nov 14 9:30 AM EST

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To: flickerful who wrote (4081)	12/17/1998 9:43:00 PM
From: Ed Perry	Read Replies (1) of 17679

No special bell-ringers from enigma. It seem to be very much of a self absorbed going concern. I don't detect partner hunger like I do from the possible web hoster site. For another forecast on the storage industry see: crn.com . . In thinking about the events of the last year I think most of us missed the point. Those rally's in early winter last year were about the funding and the rumor of an acquisition(s). Most thought in terms of product and incremental additions to revenue and profit streams. I don't think anyone thought strategically and tried to focus on an innovative venture which would potentially target a market which itself was still unfolding. If this newly emerging focus is at the crux, then it is very entrepreneurial and not without some degree of risk. Of course, short of sounding like an irresponsible cook, Mr. B would be hard pressed to describe these plans that were themselves on nebulous foundation. While I am not the first one to think these thoughts, others may have paired the idea with the recent company history, and deemed the venture to be highly speculative and without a defined revenue stream - hence the curiously low valuations and ratio measures. Well, if Mr. B pulls this one off, Internet mania will do the rest and Ampex will join the other entrepreneurial "out of nowhere" phenomena. For the business which seems to be suggested, it is imperative that Ampex build the site to demonstrate the state of the art N'th degree of digital with video and services. To rely on others and the Channel is sure to see mediocracy in the build. Re-sellers and integrators have more reason for continuous incremental rework than they do for high cost and high risk big splashes. That is in the domain of entrepreneurs and not in that of a service industry. Ed Perry

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