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Non-Tech : Ingram Micro -- Ignore unavailable to you. Want to Upgrade?

To: Reseller who wrote (524)	2/18/2000 3:14:00 PM
From: David O'Berry	Read Replies (2) \| Respond to of 576

That is very good info. I wish they had been real clear about that to analysts. YIPE. YIPE. YIPE. (David runs away with tail between his legs like a beaten dog.) Between this and the Novell disaster, today has been less than perky in my larger stocks. The little ones are the ones making the gains today. They are of course subdued from earlier levels for sure based on this nasty market but overall not that bad. Anyway, what was the deal with the Senior note downgrade to bbb- from bbb+. They were on a watch list but you would have thought with the debt alleviated in the quarter that they would have been moved up not down. It referenced the margin thing as well. David

To: Reseller who wrote (524)	2/18/2000 5:24:00 PM
From: Dale Stempson	Respond to of 576

Reseller, If I recall correctly, IM stated in the CC that gross margins would have come in between 4.80 and 4.85 when adjusted to what would have been normal levels for those unusual expenses. Regards - Dale

To: Reseller who wrote (524)	2/19/2000 5:41:00 AM
From: Dale Stempson	Read Replies (1) \| Respond to of 576

A CRN article I ran across: _______________________________ snip "The company has been steadfast in refusing to offer any guidance on Q4. In the absence of any guidance, it's very difficult to establish very much more than a qualitative sense of how Ingram did in Q4," said Joel Pitt, analyst at Credit Suisse First Boston, New York. "We'd be surprised if anyone but insiders can confidently predict the relationship between this consensus and the actual value." ref: crn.com _______________________________ Regards - Dale

To: Reseller who wrote (524)	2/19/2000 12:43:00 PM
From: Ausdauer	Read Replies (1) \| Respond to of 576

Reseller, I am listening to the beginning of the c.c. now. Seems that most of my concerns were addressed by the CEO. Aus

To: Reseller who wrote (524)	2/19/2000 9:05:00 PM
From: Ausdauer	Read Replies (1) \| Respond to of 576

Reseller and other IM investors... I stated earlier: I wanted to know if anyone on the this thread has done much in the way of Internet-assisted purchases. I figure I spent about $3000.00 on the Internet last year including 2 digital cameras, a laptop, a Casio handheld PC, an mp3 player, about a dozen SanDisk CompactFlash cards and a box full of Epson inkjet supplies. The funny thing is that none of the Internet storefronts deliver product in a single package. For every single order I have placed on Onvia.com or Buy.com I have received 2 or 3 UPS/USPS/FedEx deliveries. These deliveries appear to originate from various warehouses all around the USA. Ingram Micro's infrastructure investments seem put them in an enviable position of delivering a valuable service to any number of Internet "e-commerce" sites. I listened to the majority of the c.c. and it addressed all the questions that have built up in my mind. I really only bring one competency to this board and that is I am representative of the average "Joe Consumer", albeit with a tendency for being a bit ahead of the curve. Having said that, I was introduced to the Internet and personal computing late (my Dad had an Apple PC & an AOL account long before me), yet have advanced greatly in the last 36 months. I had a couple of remarks to make... * The exiting CEO stated emphatically that the company is seeking an appropriate return for the services provided and anticipates a sequential increase in gross margins during 2000. * Pricing for services provided will be based on the value of services, not on volume. * The manufacturer-distributor-reseller relationship is in a state of flux. The company will be less tolerant of risks such as inventory obsolescence, doubtful accounts, vendor incentives/subsidies, product return reconcilliation, complex rebate schemes and the like. The additional costs related to these items will be factored into operating costs and added to fee-based services so as to avoid repetitive one-time write-offs. * The company has a huge infrastructure to provide World Class logistic and fulfillment services with 15,000 employees in 34 countries. * Non-core competencies such as "white-box" configurations will be outsourced, even though the company has provided these services profitably in the past. * The company is less willing to take on "pass through" revenues for which they are not rewards. * The company has set the standard for services in this industry sector and competitors will be forced to compete on the basis of service, not pricing. * The company will continue to enjoy sales related to supporting internet store fronts. Both Onvia.com and Buy.com were specifically mentioned, in addition to other heavy weights such Siberian Outpost.com and Amazon.com!!! I see Ingram Micro as providing a key service in the grand scheme of Internet commerce. I feel it represents a reasonable value play. The top line growth over the last 4 to 5 years is impressive. And as the mechanisms for rewarding this vital link in the "demand chain" evolve it appears that Ingram has the potential to profit nicely. Ausdauer Ingram Micro...We're the "2" in B-2-B