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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (8915)	11/9/1999 11:22:00 PM
From: LauA	Read Replies (2) \| Respond to of 78627

Thanks for your response on LR. I'm curious about your reference to <<lots of weird financial assets on the balance sheet.>> Do you recall what struck you as weird? Several years ago the owner of a business machine outlet in Chicago that had been rolled up by IKON explained some of the economics to me. Aside from the outsourcing of various document functionalities, he made a big point of demonstrating that the copier business had gone from analog to digital in a modular form such as: scanner->server->printer. Lanier historically has offered products in the dictation area. That now becomes machine based language technology including direct dictation and translation. Lanier becomes a solution provider with the ability to choose the most effective combination of hardware and software. My read of the prospectus is Lanier is in that transition from analog to digital, but is meanwhile profitable. I expected the market to price LR at $5-10. At $3, it's worth a gamble to see some quarterlies, and fold if strategic focus doesn't sharpen. Lau