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Technology Stocks : CRUS: Can they restore investors' confidence?
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To: Terrapin who wrote (17)2/20/1997 10:27:00 AM
From: frank burch   of 23
 
My basic problems with mgmt are:

1. They took on alot of liabilities to get into JVs with much better capitalizes companies like IBM nad Lucent. Why should the poor CRUS take on these obligations. This mistake was the beginning of the probs. This is the kind of mistake you should lose your head over.

2. They missed a crucial product cycle - SIII was able to walk right in and kick their butt.

3. They have NO investor relations, and therefore have almost NO sponsorship on Wall Street.

4. Hackworth may be a good guy...who knows...he's hardly ever seen. He has done nothing to give the long term investor any support whatsoever over the last 1.5 years.

I like the valuation...I think the stock should easily trade in the mid 20s now, but obviously I'm getting the valuation wrong. They trade at less than 1x sales. If you find a company that's cheaper...please let me know.
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