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Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: bob zagorin who wrote (14445)	9/21/2000 10:59:03 PM
From: Guru Gus	Read Replies (1) \| Respond to of 14631

The humble opinion of a long term shareholder who is despairing that this thing is back to a market cap of 1.3 Bn: 1. This change is the right thing to do - in July 1999 - Dexmier should have made the change then, instead of putzing around with ludicrous talk of the i.economy, and wasting $800Mn on a second rate sw company like ARDT; 2. Gyenes says "There was clearly a lack of focus spread across five business groups" - for goodness sake, what do you expect with purchases of REDB, Cloudscape and ARDT in the space of 12 months. The sales force have no idea of what they are supposed to sell; 3. With names like Foire, Foy, and Gyenes, there aren't too many IFMX folks left. I hope you guys know how the database business works. 4. Another change of CFO - here we go again. The average tenure in this role at IFMX is absolutely laughable. What sort of credibility can this company have with the investment community? 5. A pre-announcement....again. And hidden in the main message. Laughable that the combined revenues of IFMX and ARDT has been reduced to a quarterly run rate of $200-215M. In Q3 last year, I'm guessing IFMX by itself did $230 M plus. In no way doe this inspire confidence in Gyenes, despite this being his first quarter. 6. Again hidden - Finnochio gone without a murmur. The man who rescued IFMX from the previous pirates in July 1997 - gone. Confidence in the new management team - forget about it. So, what will Q4 bring? Surely IFMX is running out of lives. Ellison and Chen wouldn't even have these guys on their radar. If Gyenes is serious, he will have this structure in place by end of year - globally. If it drags on into 2001, it will be all over. Guru