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Technology Stocks : INPR - Inprise to Borland (BORL)
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To: BubbaFred who wrote (2539)4/3/1999 4:59:00 PM
From: TChai  Read Replies (1) of 5102
 
BubbaFred, that's the most plausible explanation I've seen.

Yoscam is nothing but a scam artist. He tried to scam the market by his stock buybacks to shore up the stock to give it appearance that the company was not totally lost. This was probably done with Kathy cooking the books at the same time hoping that sales would come through. But as we all know, the buybacks were nothing more than putting good money in the hands of traders. And now, there's no place to hide, so they both ran away.

When Yoscam took over the helm two years ago, I went over to the Tektronics board and asked about his performance, they didn't have anything good to say about him. One message said, "Yocum took the money and ran." Tektronics turnaround was probably more with streamlining the operations and the cyclical nature of hardware upgrade cycle. Yoscam was in the right place at the right time, but this time his luck ran out and his behavior is consistent with "took the money and ran."

I believe David Miller's post meant that the B-shares which are preferred shares get the first cut. They get the first 25M of assets, so the cash position of the company is not as good as people think.

What's even more sad is the board's oblivion to this scam artist. The SOB had to jump ship on his own. Amen, to that.

Coupled with last Thurs action, I don't think we have seen the bottom of this stock. It'll probably go below book value because the books have been cooked and the effect of those preferred shares.
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