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Technology Stocks : CRUS, good buy? -- Ignore unavailable to you. Want to Upgrade?

To: thomas hayden who wrote (5719)	5/4/1998 10:35:00 AM
From: Calvin Scott	Read Replies (2) \| Respond to of 8193

Thomas, First, I have been out of this equity for over a month now. So, with that in mind, and after reading Ted's post, let me say this. I took my position in Cirrus and placed it in a 90 day CD just to keep it honest as well as looking at other investments. When I cash in my CD, I will beat the hell out of anyone who bought in around the ten or eleven mark on this dog. Ted is right on regarding his take on Cirrus management. But, let me go one step farther. Having $400 million in equity (cash and other) and sitting on it is just plain stupid. Recall that when the stock buy-back program was announced that the COO and former CFO, Tom Kelly, was at the helm. Then there was the fallout and Hackman took over. Thus, the cash position was left unattended. Hackman won't do anything with this cash because he is too afraid to make a mistake (PCSI). Also, the CFO, Rod Shelton, is nothing more then an inexperienced puppet now working for Hackworth. Kelly brought Rod into Cirrus but without Kelly, Shelton is nothing more than a bean counter. I disagree with Ted regarding Cirrus taking the money and buying up some technology that they want to play with. My prediction is (and will remain so until I am proven wrong) that someone or some entity will buy Cirrus, Sell off the Mass Storage business for ~$500 million, sell of Crystal for ~$500 million, dump the remaining garbage and pocket a few hundred million. Seems like simple math to me. Ah, anyone seen Teo lately???? Calvin Scott