Hello!
I would be glad to try and provide some input to this discussion. I too want to see the stock price far above it's current position.
> Steve-- I believe you have captured the frustration most of us feel
> about NOVL's performance over the past few years. I too believed it
> was a slam dunk to invest in this company since I believed it had
> all the assets necessary to produce an excellent investment return.
> What I didn't anticipate was the management actions which have
> created this mess.
I'm curious ... can you outline the "management actions" and the relationship they have to the "mess" that has been created? Also a definition of the "mess" would be good. I too am a shareholder and I really wish that on this discussion thread we could use exact descriptions rather than generalized comments. I don't mean to be too picky, but as an employee I feel it is my job to try and fix any "mess" that comes along. But I need to know the details of the "mess" to deal with it and I'd like to know the "management actions" that i need to avoid.
> My biggest concern is what happens when the stock market experiences
> a severe correction. Will there then be a leveraged buy back at
> substantially lower levels?
>
> I owned 6500 shares at one time and have reduced my suffering to
> 3500 at present. I hesitated to commit to voting these with CALpers
> since I didn't know if I wanted to own them after the earnings
> announcement next week. However, this situation is so maddening that
> I've decided to do what I never do, which is to become emotionally
> connected to NOVL and as such I will hold a position until this
> matter is resolved, or until someone is held accountable.
>
> Since you responed to Scott's questions from the perspective of a
> frustrated shareholder, I believe it is only fair to ask Scott to
> comment on your response.
I agree ... and am willing to step up. I apologize if my style is sometimes out of line, but I am equally frustrated listening to much generalized finger-pointing and no real discussion of solutions. I know that a new BOD has been suggested, however no one seems to explain to me exactly, and with detail, how this will resolve the current issues that you have. I would estimate that a new BOD, with possible changes in executive management, might actually cause many more months of turmoil and change ... I'm not really interested in that. I see a settling occuring and chage has happened. I'm not sure, but I believe that some things take time. If you rush a job it doesn't always come out the best.
> Scott--Since I assume you own stock in NOVL, do you have any insight
> into what Steve has said.
Yes, I am a long time shareholder. I am not currently overjoyed with the price, however the recent changes in price has me optimistic. I'm not a market technician, however what Salah stated in a posting tonight makes me feel even more comfortable.
> We don't expect you to do the job of investor relations,
Nor would I currently want the job! ;-)
> but a response from a NOVL employee would be helpful( I recognize
> you might have to say something negative about NOVL management, but
> since you raised some very good questions and Steve's response seems
> to summarize this thread, we would appreciate hearing from you)
I guess that i tend to look at things in a more philosophical way these days. I have been through great times and not so great times in my personal career. Novell, at the end of 1986 when I started, was the most incredible high that I had experienced. Being a part of a growing company ... getting a chance to change the world. (We did do that, you know?) I then left to do some start-up companies and I must say that my eyes were opened. Never before have I seen so much greed, disorganization, and disrespect for people. I also never really understood the responsibility that some people take on and the responsibility that other shirk. I guess that I've learned a lot from my perspective.
When I look at Novell's management I see a group of people trying hard to satisfy another group of people. I see people working to try and see out into the future and develop strategy on how to make money, oh yeah ... and how to do that truely providing honest value to the customer so that they come back ... oh yeah, and trying to do that in a constantly changing marketplace with a lot of other companies vying for the same customers.
I have yet to see anything in Novell management that would lead me to believe they want anything else. And I will follow them (well ... I'll scream every now and then ... I think that's part of my job!) and their direction and try to understand the vision that they are working towards. I don't believe for a minute that Joe M and Jon Y want anything other than for Novell to succeed. You know, Sting had a good song out a while back about the Russians and nuclear war ... something about the Russians having children too! I'm afraid that along with these two leaders from Novell, and the current BOD, I too am human.
Scott C. Lemon |
