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Technology Stocks : Diamond Multimedia
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To: Eric Winterhalder who wrote (4322)4/22/1999 3:25:00 PM
From: Eric Winterhalder  Read Replies (2) of 4679
 
After listening to the conference call I decided the best thing would be to get out and not look back for the following reasons:

1) Management has lost all credibility with the "street" and remaining long term investors.

2) Q2 will be worse than Q1.. management projecting only around 75,000 Rio's to be sold for Q2..they'll never sell anywhere close to the 750,000 figure mentioned in recent press for the year (even with RioII) and in the meantime I suspect they will continue to lose money in their multimedia products division.

3) No real direction or plans for Rioport...they essentially dont know what there going to do with it. I would surmise that MP3.com will get most of the advertising dollars and A-list artist deals if MP3 is ever embraced by the recording industry which at this point isnt a given.

4) No share buy backs and continued selling by Schroeder via his 50,000 share per Q program and most likely by other insiders. I other words continuing erosion of shareholder value while senior management reap substantial compensation for IMO incompetence.

5) All I can hope for is a buyout which is probably unlikely.

6) Overall tone of the call was poor...there were some really sarcastic remarks by those present for questions and Schroeder/Walker both came off as kind of disinterested and uncaring.

7) IMO they are either completely incompetent or are just outight dishonest I dont know which but I really dont care at this point...the outcome will be the same.

IMO this stock is done for the forseeable future
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