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Technology Stocks : IDT *(idtc) following this new issue?* -- Ignore unavailable to you. Want to Upgrade?

To: Hawaii60 who wrote (23655)	5/11/2001 9:03:54 AM
From: BinkY2K	Respond to of 30916

"The company acknowledges that it lacks important organizational and administrative skills, though it says it's working on the problem and is close to completing a restructuring." At last, a touch of the truth in that article! For a man who, in the same article, calls himself FRUGAL, I wonder if he saved money by not putting in people who would save him money. I seriously await more signs that Jonas is not just hiring people with the skills he needs but getting rid of people who have been his problems over the years. Even more important, he has to delegate to the new people and LET them do their job. IDT is in an enviable situation and has grown nicely from a small company into one with cash and lots of potential but they forgot to shed some baggage along the way because of misguided ideas of loyalty. As Hawaii and others have mentioned, some of these people often would spend money on their pet projects and the company as a whole had no idea where the money was going until it was too late. Earnings were far from predictable and analysts could not be guided and I think it is fair to say many investors fled. Jonas was candid in his statements in the article I am replying to. His plan was not to get cash from AT&T, but a relationship that fizzled and I repeat that he ws lucky to close the deal and get the cash, not skilled. The stock price of IDT today does not reflect any of the value, even of recent announcements. Yet, many will not buy even now until there are concrete results because they have been burned too often in the past by promises that rarely materialize as expected. Stil, I can see averaging in starting from here.