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Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: SouthFloridaGuy who wrote (3628)	11/9/1998 12:08:00 AM
From: Rocky Reid	Read Replies (2) \| Respond to of 10072

The famous IOMG Short Squeeze of past years was based on wild hopes that the Zip would replace the floppy drive. We now know that this strategy is a failure, one that was publicly acknowledged by the new Management team itself. During the CNBC interview with Sierk and the new CEO, the question was asked as to whether or not the Zip would replace the floppy. The answer was not "Yes." The answer was more along the lines of "What the customer wants." This is a strong signal that Iomega Management realizes that their pipe dream (one that they allowed to run rampant throughout their investors) is just that. A dream. And the nightmare of loss after quarterly loss is the reality. Now, Iomega and its investors have to deal with falling retail Zip sales, and selling OEM Zips at a loss. How long can Iomega keep doing this? We'll see. Iomega is following Syquest itself right down the same path.