Hi Scott, I'll give it a try. I spent almost 10-years as VP of a small
Healthcare VAR in Michigan, selling, installing and maintaining Novell
networks. I then started investing amongst other ventures, and
invested in the no-brainer Novell, best LAN products on the planet.
Ever since, the stock basically crashed...NOVELL HAS MY MONEY.
Remember that in recent years, most Novell investors have been
BURNED.
Like Joe, my case is well documented over the last year or so on this
thread, but I will list some thoughts/facts. I'm sure many other folks can
add to and elaborate.
1. What are the problems at Novell?
-No permanent chairman or CEO.
The company has been poised to take off since last September when
we finally got through the Noorda mess. Instead of lighting the fuse
with a clear slate, Frankenburg was canned with no explanation, a
temporary CEO, Chairman and President are announced, along with
a promise of a new CEO in six months. HOW CAN YOU EXPLAIN THIS?
A perceived dying company cans their CEO, and announces no
permanent leadership for four to six months. Now of course, we're
hearing up to another month and a half...then I expect JY to say "nottt,
we like what Joe has done........", you know the rest. In the meantime,
we have these temporary executives opening the vault, ready to spend
our money. I have never heard anything like it. I'm all ears.
-Joe Marengi is the tough guy...above us investors.
Bob Frankenburg used to respond to investor email...Joe won't give us
the time of day. What does that tell you alone. It's the feeling that
Marengi is getting the job, and that the end of the most recent 6
months of agony is apparently being dragged out up to another
6 weeks, coupled with the madman with his hand in our cash that has
sent me through the roof. JY and JM have repeatedly stated they were
on track with the CEO announcement. Not meeting that deadline is the
straw that broke my camels back.
-Severely damaged image.
Many folks believe that Novell has damaged their image so badly that
the only hope is fresh blood through a buyout or new CEO. It started
with the end of the Noorda era, then the channel clearing, then the CEO
situation, all the while allowing MSFT to just roll you right over. The
MSFT pressure of course has continued to mount, with very little, if
any rebuttals from Novell. This bashing has seemed almost daily.
Under Joe Marengi's reign, Novell continues to refuse to play the
game.
2. How will changing the board fix things?
From my perspective, the dwindling board and temporary CEO are
responsible for this mess. Dosen't take a rocket scientist.
3. Who will want the position with the current attention?
I think I speak for many of us that we feel we may have been scammed
on this entire issue. I don't believe there is, or ever was any intention
to replace Marengi. Instead, it seems like the same old predictible
Novell, wait for this, wait for that, and in the end disappoint.
4. If compensation is changed as suggested who wants the job?
I'm leaving this one along for now...I agree it needs to be structured in
a manner that is mutually beneficial.
5. If you get what you want, and if it happens, who on this list is
willing to assume personal and financial liability?
Sorry Scott, but I no longer consider this my problem, nor did I ever.
Whose gonna assume responsibility for the madman...you? I want MY
MONEY BACK. You pay me...I'm outta here. Where were you six
months ago? Four? Two? C'mon, it's unlikely it could get any worse.
6. How is your "Novell bashing" making Novell appear in a better light?
Scott, it can't get much worse. I realize that Novell has many good
employees and a lot of talent, and fantastic products, but in all honesty,
at this point, I want my money back! We have been waiting...this then
that, now a crazy man at the helm, ready to open the vault and start
throwing money around...a company with no permanent leadership, that
is supposedly on the verge of replacing it's CEO! Novell has had time
to right itself and has made some ABSOLUTELY UNCOMPREHENDABLE
MOVES. Up until a month or so ago, we all tried to maintain faith, but
after so long of a silence on the part of Novell, lack of news on the CEO,
lack of any feed back from Joe Marengi, and very limited feedback from
your investor relations folks, what would you expect to happen? I don't
trust Young or Marengi...it appears most of the investment community
dosen't either. They need to be stopped before we own Apple.
7. Why Cisco?
I'm not partial to Cisco...many other companies will do, Intel, Oracle,
Sun, Lucent, one of the phone companies...as long as the price is
right. The element of surprise would probably be all it takes to turn the
situation around alone. Just some big noise, and permanent leaders.
sf |
