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Non-Tech : Any info about Iomega (IOM)? -- Ignore unavailable to you. Want to Upgrade?

To: Stacy J. Matter who wrote (38467)	12/3/1997 11:39:00 PM
From: HardMoney	Respond to of 58324

If someone posted this I apologize for re-posting it, but........is this guy Luken an idiot or what why is he giving an interview with DJ or anyone else for that matter....without permission from the head office? According to my news service it shows the release time as 9:47 AM,this morning......maybe this caused some weakness in the stock. ********************************************************** PENANG, Malaysia -(Dow Jones)- Iomega (Malaysia) Sdn. Bhd. chief Lubbo Luken said he expects the company to experience a "temporary benefit" from the recent currency depreciation in Malaysia. Iomega (Malaysia) is a unit of U.S.-based Iomega Corp. (IOM), a Roy, Utah-based maker of portable computer storage devices. The Malaysian ringgit has fallen roughly 40% since July, pushing down the cost of salaries and local inputs for multinationals such as Iomega that are paid in U.S. dollars for their exported products. "I assume over time, maybe 12 to 16 months, things will equalize again," said Luken, the managing director of Iomega's Malaysia operation. He expects Malaysia's dependence on foreign imports to push up local wages and the cost of local inputs. Iomega opened its plant in Penang in July 1996 to produce Jaz removable storage disk drives and Zip drives for computers. Iomega products are sold by retailers world-wide and used in computers manufactured by such companies as Dell Computer Corp. (DELL), Apple Computer Inc. (AAPL), NEC Corp. (NIPNY), Packard Bell-NEC and Sony Corp. (SNE). Copyright (c) 1997 Dow Jones & Company, Inc. All Rights Reserved.