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Technology Stocks : ACTM $100 Million Cable Modem Contract with MOT -- Ignore unavailable to you. Want to Upgrade?

To: David Seltzer who wrote (537)	2/28/1998 10:12:00 AM
From: Joseph Beltran	Read Replies (1) \| Respond to of 1250

David, I spoke to Greenlaw yesterday and he wouldn't (couldn't) answer any of my questions specifically. I am sure PINO and company are under intense pressure now and the class action (no surprise) will add to that. For what it's worth I am inclined to believe that we are dealing with a bunch of incompetents here (and not crooks). I just don't think PINO and his staff have what it takes to take this company any further...I think they have lost all credibility and the confidence of shareholders. This may be an opportune time for a competitor to step in and make an offer which ACTM can't refuse. Apparently ACTM has the manufacturing capacity but lacks the marketing and management skills to allow it to become a bigger player. If the buyer has the orders a buyout even at a substantial premium to ACTM's current stock price could make the purchase accretive in a short period of time. regards

To: David Seltzer who wrote (537)	2/28/1998 6:10:00 PM
From: Rob Preuss	Respond to of 1250

David, Good conjectures. I suspect that you are right about this not being a massive inventory shortfall as that would have been way too obvious long ago; I'm a mathematician/statistician and know well that the word "significant" used in this context to describe the shortfall simply means "not wholly trivial" and doesn't necessarily mean "massive". I'm inclined to think in terms of numbers like $1M ($0.10/sh), but it could even be $0.1M ($0.01/sh) and still be called "significant" and "material". But I also think Pino & Co may have done a poor PR job in that so little information has been revealed... the stock may have taken a bigger hit than it would have if they indicated the approximate size of the shortfall. If the shortfall was actually "massive", then I would think it likely that there had been some criminal activity. But at this point I think (and hope) the situation is far less serious than that... so we're looking more at things like sloppy management and poor public relations. Rob