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Technology Stocks : Adaptec (ADPT) -- Ignore unavailable to you. Want to Upgrade?

To: Swingdr1 who wrote (3457)	8/17/1998 2:42:00 PM
From: Jim Switz	Read Replies (1) \| Respond to of 5944

More bimbotu comments about Ridge; she sure makes it look like a buddy deal between Saviers and Graham. Wonder if shareholders have any recourse if such an arrangement were true? (composite of two messages from Yahoo) -------------- <1st message> Ridge has/had every intention of being a $1B company in 3 years.That is still the goal.The issue was how much $$$ it would take in SPENDING to get there. They were sucking a lot of money and who knows how much more before their products started making serious money. They are no longer part of Adaptec for that reason . IF and only IF the Ridge boys can find someone to purchase them OR get the financing to purchase themselves, then it's over. They were given 1 week to accomplish this: until 8-21. That's IT. Otherwise, they close the doors, and Adaptec owns all the technology, and associated patents. What Adler et. al decide to do with it, is their call. I don't think it is likely for them to take a lot of risk right now. Rumor has it that the employees cheered, hear that CHEERED when they were told the doors were closig. What does that tell you? The management team at Ridge had a vision but bring it to fruition was to take a fortune in cash and time that this industry doesn't have at this time. Rumor also has it that Adaptec bought Ridge because Saviers and Graham were buddies. No one else wanted Ridge. Since ADPT had the cash, why not? Long term it may have been a good move, but in these uncertain times, not a good move. This is a very positive event and I look forward to more cash producing events in the near future. Neither Adler or Boucher is sitting on their hands. They are acting agressivly and quickly. <2nd message> This was purely political. ADPT never had a history of buying a small company, taking the technology and casting the employees aside. Yes it's true: Grant was major investor in Ridge and Graham was his friend. Since ADPT had lots of money, he helped his friend out, plain and simple. Problem was that his vision and that of the board of directors wasn't the same. Yes, it takes lots of money for R&D, but you also have to live within your means (HEAR THAT ADAM?)and spend that money WISELY, not based on political motivations. Ridge management believed in the product, as did Grant, that is why he push so hard. Who know? It may have worked if given the time and tons of cash, but it was something ADPT just could not afford right now. I call it SMART. Now, Adam, why don't you go back to your little corner and play with your blocks. You worry about your investments and we will worry about ours.