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Strategies & Market Trends : Value Investing

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To: Mike 2.0 who wrote (6101)	2/25/1999 5:39:00 PM
From: Allen Furlan	Read Replies (3) of 78491

Re: ERP systems. This is a far out question,but how would you evaluate a company's probable success in installing such systems? Specifically do you think it is possible to ferret out useful information from a company's IR director? Real life example. Nash Finch(NAFC) just pulled the plug on 38 million in development costs and essentially said the systems were useless. NAFC was a value play for me, a company with 240 consecutive monthly dividends, solid midwest company in the food distribution business. I was delighted two years ago when they announced that they were finally going to develop an improved system. Last year they announced a delay in completing their development because they had to concentrate on year 2K problems. That is when I said Oh OH and dumped the stock that I had held for 4 years. In the past month they dropped the bombshell about massive restructuring writeoffs including the never implemented system. Now this is a solid company with new management and I believe it fits the description of a value play. But the problem is I have no way to know if they are capable of developing strategies to implement systems which are absolutely critical to their industry, a la walmart. Any ideas?

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