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

To: The Philosopher who wrote (3657)	9/15/1998 12:16:00 PM
From: Investor2	Read Replies (1) \| Respond to of 5944

Re: "Saviers fit the bill -- he had 895,852 shares on May 31, ..." biz.yahoo.com Name: SAVIERS F GRANT Title: Chairman of the Board Company: Adaptec Inc Shares Remaining: 157,277 as of 18-May-98 Best wishes, I2

To: The Philosopher who wrote (3657)	9/15/1998 12:17:00 PM
From: Jim Switz	Respond to of 5944

Chris, it probably won't make you feel any better, but I think Saviers doesn't own 895,852 shares outright, but probably options in that amount. Those are probably exercisable at about $7-8, so his potential gain is maybe $2-3 million. A big chunk of money to reward a guy who helped to break down our company, but at least it's not $9 million. And like you, I find it hard to maintain any optimism, but it sure seems to me that 81+% should be a sufficient amount to be beaten down, and that things ought to go up from here. Eventually. When, I don't know. I wouldn't fret too much about the "return to profitability" phrase indicating a coming operating loss. They'll probably declare another net loss, but a return to profitability also means a return from breakeven, which we've been guided to expect. At least so far; I hope the CC on Thursday doesn't kill us once again. The stock action the last few days sure doesn't indicate that anyone's getting excited about the CC. Sigh.

To: The Philosopher who wrote (3657)	9/15/1998 1:10:00 PM
From: Mark Brophy	Read Replies (3) \| Respond to of 5944

Ownership is a problem. I suppose you've read the class action complaint from the king in San Diego and it makes a good point that most or all of the insiders sold out at high prices last year. While I disagree with the law firm that there's anything immoral or illegal, it's clear that the stock was grossly overpriced and the executives were sending a message to the market that you stubbornly refused to heed. Nevertheless, the market often overshoots and I would've been better off keeping my powder dry than buying at 19. I'll probably break even within a year, but it's dead money for a while. Sure, the financial engineering doesn't really do the company any good, but it's great for the stock price. One-time write-offs are best because the market forgets about it next year when bloated profits are reported. 3Com and IBM are the masters of the game and I'm glad Adaptec is following their lead. The stock market is nothing more or less than a gambling parlor for rich folks.

To: The Philosopher who wrote (3657)	9/15/1998 1:32:00 PM
From: Starowl	Read Replies (1) \| Respond to of 5944

Christopher: I have been devastated by the surprising turn of events with Adaptec since January. Grief, anger, denial--I've had them all. But I am recovering, although I'm not sure I'm on the right track with Adaptec. I believe, though, that things will be set right. Does anyone know what all the recent changes will mean for Adaptec? What reduction in operating costs will be seen by the divestitures of fibre channel, RAID/storage, satellite network staffs and equipment? If SCSI and other I/O equipment (and the Easy CD software) sales remain the real profit makers of the company, do we assume that profitability will increase for the parent company called Adaptec? Or are the operating costs of the areas divested proportional to the profits (if any) they brought to Adaptec? In other words, if those parts of the corporation were like Coleridge's fabled bird around Adaptec's neck this past year, can we expect their severance to begin eventually to slake the thirst of us investors by this so-called return to profitability projected by Boucher? And what about these new "equity interests" the company is acquiring? By retaining those interests, one presumes Adaptec expects those outfits to be profitable and not just a means for dumping parts of the corporation. I don't think Boucher and Adler returned to screw things up. I think they returned to make things right. We all know, however, that the market will have a big influence on those efforts. Re. your "I want somebody in charge who has a LOT of stock"--care to take the job? Seriously, you make a good point. But what matters to these people who have already made it financially; more money? Maybe, just maybe, their reputations are more important to them. Truly, why on earth would anyone come back to the helm of a company that has suffered so much and in this uncertain market? Who would need these problems other than someone who believes they have or can find a solution? Don't lose heart! Starowl