Joe, Peter Troop responded today to my letter of awhile back. Here it is FWIW. Original letter down below. Interesting that an earlier email I sent them questioning earnings date was responded to by Peter Troop within a couple of hours.
Also, he seems to be saying that they may accelerate the pace with which they spend our money while Joe M and John Young are in charge. Does anyone read his response differently?
sf
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Date: Wed, 05 Mar 1997 12:35:41 -0800
From: Peter Troop
To: smfmlf@centuryinter.net
Dear Mr. Fancy /
This is in response to your message of mid-February. We respond to a
very large volume of messages and it takes time.
In response to the questions you asked that are still pertinent.....
The CEO will be announced when he, or she, is signed and on board.
The most recent comments on this matter are those of John Young on
February 26 when he emphasized the importance of filing the position
and stated that progress is being made.
As to acquisitions, Novell is actively assessing technology
investments, joint ventures and acquisitions that support our
strategies and can accelerate our time-to-market with new network
software products. Since Joe Marengi became president and chief
operating officer in September the pace at which Novell has been
implementing its strategies has increased significantly.
Peter Troop
Sr. Director Investor Relations
Novell Incorporated peter_troop@novell.com
____________________________________________
Phone: (408)577-8361
Fax: (408)577-8921
2180 Fortune Drive
San Jose, Ca. 95131
____________________________________________
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>>> Steve Fancy - 2/15/97 8:08 PM >>>
Hello, I sent this letter to yourself and two other investor relation
folks last Thursday. I sent it to you again on Friday, and am sending to all three of you again today. I really need, and feel I am owed the explanations/answers to my questions. Please respond before Tuesday Feb 18.
As a Novell shareholder, I have several concerns/questions
regarding the following news release:
Novell (NASDAQ:NOVL) sees diverse rev base,eyes purchases
Reuters, Thursday, February 13, 1997 at 15:53
FROM THE ARTICLE:
>> He declined to comment on financial results of Novell's
>>quarter ended in January, noting that it was in a quiet period
>>ahead of the report due out next week.<<
QUESTION:
I received an email from Peter Troop on 01/21/97 stating that earnings would be released on 02/26/97 after the bell. Per my calendar that is the week after next. Has the date been moved up, or was this an erroneous statement?
FROM THE ARTICLE:
>>"Business is okay," he noted in passing.<<
COMMENT:
This statement scares the daylights out of me.
FROM THE ARTICLE:
>> He said the company's search for a new chief executive was
>>on track and that he expected an appointment to be announced
>>within 30 to 60 days.<<
QUESTION:
In a recent January interview with Lan Times I believe, Joe Marengi made a similiar statement that although they were behind on the search, they planned on sticking to their original 4-6 month window for this announcement. If Novell is on track wiith this announcement, I would expect it by March 1st...otherwise Novell is not on track and the announcement is being delayed. Please clarify this situation.
FROM THE ARTICLE:
>> "We want to grow through acquisitions," Marengi said of the
>>company's plan to once again consider acquisitions to fill
>>technology gaps in its product line. "We will make sure that
>>any company we do acquire will fit (our overall) strategy," he
>>said. "Nothing on the scale of WordPerfect," he said.<<
QUESTION:
Are further aquisitions being considered without permanent leadership and board in place? Please tell me no.
Thank you for your time.
Steve Fancy |
