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Technology Stocks : General Magic
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To: Ross Reller who wrote (6260)6/4/1999 1:41:00 PM
From: Drew Freeman  Read Replies (2) of 10081
 
Hi;

My own 2 cents on the annual report. I was deeply troubled by it, actually. Given that GMGC is losing over $1 million a week, I saw this very expensive piece as frivolous and sending the wrong message to shareholders. This is a time when I want General Magic to tell me they're being fiscally responsible. I want to know that they're using the very expensive money they bought through the convertible stock deals responsibly. I'm not trying to be a fuddy duddy here. I'm all for creative marketing and portrayal of the product, but I'm already sold. I'm a shareholder. I want them to convey to me the annual report information inexpensively and target their marcom budget and resources at Portico customers and resellers. The investment community is clearly expecting GMGC to run out of money and go out of business. I think frivolous spending like this supports Wall Street's hypothesis.

Did anyone else have the same reaction I did?

Cheers,

Drew
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