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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (3960)	5/1/1998 12:09:00 AM
From: Ron Bower	Respond to of 78470

GAI Looked at just before IPO. Was offered thru Furman Selz with CIBC Oppenheimer has co-manager. IPO'd at 19 and immediately ran to 20.5/8, dropped below 19 and has hovered above 19 since. Positives were listed - negatives are: 65% owned by Sham family. Paid CEO $1M for patents. Has two patent infringement cases against company. Sunbeam is 45% of sales. Paid Sunbeam $1M to get the contract. Growth directly related to Sunbeam contract. Other growth minimal. Intelligence says capacity restraints will force component outsourcing. Prices falling on prime product bread maker unit due to lower demand. IMO - GAI may have promise but I passed in favor of AEHCF. For what it's worth, Ron