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Gold/Mining/Energy : GEAC.....Canadian best kept secret -- Ignore unavailable to you. Want to Upgrade?

To: PlayTheKing who wrote (907)	10/20/1999 10:55:00 PM
From: Michael Dean	Read Replies (1) \| Respond to of 1571

I agree. I have never seen the purpose of share buy-backs in a company that does not pay dividends and isn't likely to do so in the near future. Sort of like a stock dividend - it sounds good, but is mostly an illusion. In an acquisition driven company, such as GEAC, I would see this as an admission that either there are no suitable targets out there or that valuations are too high. In the later case, I would prefer that the company retain the funds so that it is able to make suitable acquisitions when prices correct. GEAC has often accumulated sizable cash reserves in the past and this has helped with acquisitions, such as Dun and Bradstreet Software, in the past. In valuing a stock, one always looks at the cash on hand as part of the picture. Cash also means that the company can ride through economic slowdowns with much less risk.

To: PlayTheKing who wrote (907)	10/21/1999 10:11:00 PM
From: micromike	Read Replies (1) \| Respond to of 1571

I'm not a big fan of share buy-backs as it doesn't really "increase earnings". Well if you don't like that then maybe they should make a early quarter release if earnings are good or else this baby is going down the tubes till the middle of December when they report. Considering Bergeron own a lot of shares that he bought personally at around the $28.50 range I'm sure he will figure out a way to keep the price up and if the buy back doesn't work then I think maybe he will need something else. The quarter ends at the end of October so they should have a good indication on how that quarter was around November 15. If the price is in the toilet at that time I would bet he might make some kind of statement but then again if he is going to miss the estimates we could get a warning. Looks like around November 15 could be the good or bad news day. JMHO Mike