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Technology Stocks : Vitesse Semiconductor -- Ignore unavailable to you. Want to Upgrade?

To: DaYooper who wrote (4541)	4/21/2006 9:01:14 AM
From: JakeStraw	Read Replies (1) \| Respond to of 4710

>>that really has nothing to do with the fundamentals Were the fundamentals that great to start with? I mean didn't VTSS lose ($14) million in the 1st qtr. of FY'06? And if business is so great why in the same quarter did they close one of their design facilities and terminate approximately 70 employees? Furthermore, alleged improper internal financial controls is a fundamental problem as well..

To: DaYooper who wrote (4541)	4/21/2006 10:13:45 AM
From: Taro	Read Replies (2) \| Respond to of 4710

The issue was "option grants" back dated back in '97 thru '01 and certainly prior to the SOX deadline of August 2002. While most likely unethical, that was hardly illegal back then. This IMO is all about a fierce power struggle between the board and the CEO and most likely the final round of several prior to that. Unfortunately with little consideration for shareholders value while utterly destructive to VTSS, Tomasetta's baby, now the hostage of that power struggle. This is but my personal take on what's going on behind the stage. The CEO and his guys seem to have a problem understanding that they are goners by now. Above obviously is nothing but my take on the events. The company itself is healthy albeit low on cash, a beautiful up to date range of product in storage, telecom and GE ethernet. Good people - maybe a few too many - but no CEO, COO, CFO or VP of Sales: A perfect take-over target. Taro