Ampex Corporation (AEXCA) Message Board

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Technology Stocks : Ampex Corporation (AEXCA)

AMPX 8.270

-3.0%

Dec 26 9:30 AM EST

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To: flickerful who wrote (4193)	12/28/1998 6:55:00 PM
From: Hal Campbell	Read Replies (1) of 17679

<< could you, or anyone, please explain Big E's mindset with regard to his purchases..>> Hey Randy - was perusing form 4s as you posted. The options were reestablished at 1.06 recently ( as i am sure you know). None under a buck to the best of my knowledge. Sure hope they don't have to adjust them even lower ever again. I'll take a very subjective on the wing crack at Bramson's purchases. As best I recall. In early 95 ( or was it late '94?) - Ampex still in the pinks - Bramson made a huge open market purchase at a little over 1.5. Was quoted as saying the turnaround was complete and AXC was now entering its " fun growth period". I believe it was that purchase that caught The Individual Investor's eye, and AXC was on its Magic 25 list the next year. Anyway I am sure he believed that, and many of us found AXC to be an intriguing value at the time with remarkable potential in both data storage and with many possible applications to the rest of the rapidly developing digital age.So many patents. So many possibilities. Such a nice revenue stream. So much R&D. 19mm growth. Positive cash flow from manufacturing obtained. In October '96 his large purchase directly from the company served as a signal to many that a KM deal was on tap - and the infamous Maxtor memo of Understanding ensued a couple months later. I am sure at that point he really believed KM would sell and that the stock would sky. His sales in May of '97 of a small percentage of his stock were to make a purchase of an expensive car, I was told, but also perhaps served as signal that nothing terrific was soon on its way. The stock has been declining from that point ( a little over 6) ever since. The rest of the relatively modest buys seem like holy grail quest affirmations to me ..... perhaps understated confidence in his acquisition strategy in general and in the results of the Mitsubishi appeal as well.( His purchases and Talcott's preceded the appeal hearing closely if I recall). There were other open market insider purchases beyond Bramson and talcott ( albeit long ago) by officers and I simply cannot find any record of sales. These boards have been watching that closely for years. So the Yahoo post is puzzling.

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