To: Hunter Vann who wrote (415 ) 7/6/1998 11:01:00 PM From: Lance Tokuda Read Replies (2) | Respond to of 10072
Hi, I a have been a passive reader of this and the original Iomega thread since the Motley Fool's canceled their daily Iomega recap. Maybe Vanni is on vacation today but my real hope is that her account was suspended or that she was banned from this board. I wrote a long message to the webmistress which documents how Vanni continually posted in violation of the board's charter and how many of the posts were made just to evoke some kind of negative reaction from other board members. Hopefully, there are others who made similar complaints. David Gardner made an excellent post responding to a perpetual Iomega bear. You should all read this link:boards.fool.com Here is my current position on Iomega. Of course it is not the same company that it was just 9 months ago. Back then it appeared that Roy just couldn't produce enough Zip drives to feed the world hunger. I thought it would rebound after the Q4 announcement then the endless parade of bad news items appeared. Just when you thought the worst was over, there was more bad news to announce. I sold about 1/3 of my position at 6 but my average purchase price per share was between 10 and 11 dollars. The 1/3 I sold is up substantially with AOL, YHOO, and CSCO. Iomega on the other hand pre-announced another bad quarter and dropped below 6. Since the company will be losing money shortly, it is very difficult to evaluate. I expect most of the price fluctuations to occur based on news releases. The possible positive releases are: * Better than expected revenue for the past quarter (perhaps fueled by disk sales sparked by the rebate program). * Zip 250 * Top choice for CEO * Something about CLIK! shipping The possible negative releases are: * Sony HiFD news (anything good that reminds people about the Sony entry). * Poor revenue for past quarter. * More layoffs (bad short term). I really don't feel good about holding because my initial reason for purchasing Iomega (phenomenal growth potential) has evaporated. Still, it seems that with their market share, technology, and revenue that they should be able to create a profitable company. Thanks to those on this board for informative posts. SI has been the best resource on the net for tracking the ongoing Iomega saga. Hopefully, it won't be spoiled by a select few whose greatest joy is to torment others. Happy investing! (I mean go Iomega!) Lance Tokuda