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Microcap & Penny Stocks : GAUM-General Automation -- Ignore unavailable to you. Want to Upgrade?

To: Peter van Steennis who wrote (179)	2/14/2001 3:14:00 PM
From: RoseCampion	Read Replies (1) \| Respond to of 183

Word at this end of the world is that GA is out of cash and ready to fold their tent, as it were. Peter, you were apparently spot on with this call...the Feb 2nd "restructuring" actually was, according to my sources, a near-total implosion, where every existing office except two (Irvine and Vancouver BC) was shut down, and every last employee was laid off with no warning or severance pay; after that the few that were deemed "mission critical" were made re-hire offers. This tactic would appear to neatly avoid having to pay anyone, whether they were hired back or not, for their accrued sick or vacation time. It's a very GA way of doing things. Of course, it also might be illegal as well (I'm not an expert on California, Massachusetts, or NY employment law, but I think those are some of the states with the strongest worker protections in case of layoffs - in which case it's just a matter of time until the lawsuits fly). Apparently the Irvine office is looking for new space that will hold about 10 people, down from...dunno, maybe 30-40 last month? (not including the sold service and database businesses). As far as I can tell, unless someone comes sailing out of the blue to buy them for the XML and Java technologies (hmmm, wouldn't those have been more valuable with the engineering team intact?) you can stick a fork in them: they're done. -Rose-