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Technology Stocks : Corel Corp. -- Ignore unavailable to you. Want to Upgrade?

To: A. Hayer who wrote (3836)	12/11/1997 2:08:00 PM
From: R.S. Blum	Respond to of 9798

AH, No disrespect, but all I have to say is, eventually you will be right with your predictions. I too believe we're close to a bottom, but hell, I thought that too before last earnings. -Scott

To: A. Hayer who wrote (3836)	12/11/1997 2:56:00 PM
From: Leo Mitkievicz	Respond to of 9798

ah [You rat. You sneaked so much into that post, that I can't respond to all at once ;o)>] 1) So they bought back at av $2.72 US. Still underwater but not so bad as $4+. 2) The numbers are in line. Good. 3) The buy-back was Cowpland trying to protect the value of his remaining shares. (IMHO) Makes sense in context. Expect the sales expenses are pretty well budgeted in. I do not see widespread new corporate acceptance of Corel products anytime soon. Foot in the door first. 4) Will have to check for BOD changes 5) Advertising expense cut-back: agree 100%. To near break even? Can't see it. Cost of sales will have to go up. The sales force doesn't come cheap. 6) Disagree on O'Reilly. Mr. Norris was capable of keeping the bottom line where Cowpland wanted it. (proved it for many quarters) O'Reilly is in and Norris is out because Cowpland feels he can trust O'Reilly. 7) Even better would be if Corel hired a new CTO, and a new president, with Cowpland being just the CEO. This would give management more credibility than it has now. Cowpland has already said they are looking for a CTO. Even better still if Cowpland would bring in a skilled manager CEO to handle day to day operations. He should keep the President and Chairman titles for now, while holding the option of yielding the "President" title to one of his new team at some time in the future. It is too early for any these steps yet. Sylvester seems to be working out OK. Let's get O'Reilly in place and functioning before we shake up the team any more. Cowpland's weakness is in managing. He has shown himself to be a walking disaster as CEO. I missed it that he was looking for a CTO. Though I already posted I thought he needed one. All this is progress, yes. Turn-around, not yet Leo