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

To: prashanth who wrote (56413)	6/18/1998 5:24:00 PM
From: Gary Wisdom	Read Replies (1) \| Respond to of 58324

the stock is halted. It is not trading.

To: prashanth who wrote (56413)	6/18/1998 5:33:00 PM
From: Iceberg	Read Replies (1) \| Respond to of 58324

>I doubt that release could be construed in anything but a negative way. Any thoughts? prashanth, Yes. In this current [general] market atmosphere, I wouldn't be surprised at ANYTHING! Ice

To: prashanth who wrote (56413)	6/18/1998 5:38:00 PM
From: FruJu	Respond to of 58324

>Is this an aberration, or could the layoffs have been viewed positively? I'm sure that Wall Street will see the layoffs as a positive; remember they've been the ones that have been saying that Iomega needs to get better and tighter management of their finances, and the announcement today is an indication that Iomega is going to be more hard-nosed (the billion dollar question is whether they're agressive enough). The item that is the most worrisome is not the loss or layoffs, it's their cash crunch... E>

To: prashanth who wrote (56413)	6/18/1998 5:56:00 PM
From: Daniel P. Dwyer	Respond to of 58324

What time did you got a quote of 6 13/16 from the Pacific Exchange, if it was not trading after hours, and as someone said has been halted. Who halts a stock in after hours trading? Much of the news was to be expected, except they experienced a higher than expected negative cash flow, which probably could be offset by reducing staff. The fact that they may be in violation with certain loan covenants can be negotiated, provided they execute the sigma program and hire a CEO that is respected in the industry. Firing 14% of the employees is a pretty good start. You cannot be an Al Dunlop anymore. Dan Dwyer