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Biotech / Medical : SAFESKIN -- Ignore unavailable to you. Want to Upgrade?

To: Beltropolis Boy who wrote (705)	3/14/1999 1:08:00 PM
From: W Shakespeare	Respond to of 828

That article states very precisely why analysts are worse than worthless. " if management doesn't develop a system that's more timely and effective for evaluating inventory levels, the company could continue to have problems." Can anyone be so stupid as to believe that management was not stuffing the channel with millions of gloves? "The Alex. Brown analyst said he believes that if the company re-establishes investor credibility over the next few quarters, the stock could sell for 20 to 25 times his 2000 earnings-per-share estimate of 80 cents. That would work out to $16 to $20 a share." Yeah, and I believe pigs can fly. How exactly is management going to "re-establish investor credibility"? Perhaps if the entire management team resigns (or gets arrested for allowing some larger shareholders access to inside information.) The three or four dozen shareholder lawsuits about to be served on the company will prevent any re-establishment of trust in this company. "... for the value or long-term investor, Safeskin could be worth four to five times 1999 sales in a buyout situation. The company is a high-end glove manufacturer with a low cost structure and could be of strategic value to other companies in the medical products industry, Jay said." Yeah, and maybe the tooth fairy will leave money under shareholder's pillows. Why would another company want to buy SFSK? How many times has a company that is involved in accounting manipulations been bought out once the dirty deed was brought to light? Would a buyer be interested to pay a premium for a company with dishonest management, a questionable set of accounting, shareholder lawsuits,and a possible SEC investigation on insider trading? I believe it bad enough for analysts to have allowed fools such as myself to have believed that this company was a good long-term investment. It is even worse for them to now tell me to hold on based on the deluded fantasies above. I still plan on selling at the best price I can get next week. Perhaps these analysts will buy my stock from me.