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

To: BBG who wrote (8254)	3/15/1999 8:18:00 AM
From: Ben Antanaitis	Respond to of 10072

In an act of sheer dumbness this morning, I sent a note to Greenturd informing him that he had shipped a defective column and he should issue a recall to correct the problems ie IOM didn't recall 60,000 drives, they recalled 60,000 external power cubes NO drives. Anyway, get ready to see more short selling pressure from Rocker and the ilk. Ben A.

To: BBG who wrote (8254)	3/15/1999 8:53:00 AM
From: Michael Coley	Read Replies (2) \| Respond to of 10072

RE: Response to Herb's Bashing! Thanks for re-posting Herb's bashing! It's nice to see the shorts getting desperate. I would e-mail him, but I'm sure he could care less about such things as truth and logic. >> One of the only reasons it posted a profit in the last quarter -- its first profit in four quarters -- was that it cut marketing expenses. << What a crock... Iomega's SG&A got OUT OF LINE in Q1-Q3. Iomega got it BACK IN LINE. They got to $1.7 billion in sales (1997) without ever getting their SG&A over 19%. The big help in Q4 was the improved margins. Historically, Iomega always ran around 30%. In Q1-Q3 1998 it dipped into the mid and low 20's. In Q4 they got it back up to 28%. And what's impressive is that they did that in the quarter when the OEM% of Zip unit sales was the HIGHEST EVER! So much for the argument that they can't make money selling drives to OEM's at about cost! >> Iomega's failure to roll out any significant new products in recent years. << How about Clik!, Buz, Jaz 2GB, Zip250, USB Zip, Ditto Max, ATAPI Zip? And from the rumors floating around, they have at least one more new product coming soon. >> The company hasn't yet replaced its old CFO, who has been gone nearly a year. << Oh yeah! I forgot about that! Another "good news" announcement that is bound to come soon! Thanks for the reminder Herb! >> "Iomega will be the Daisy Systems of 12 or 13 years ago," Cohodes says. Daisy's brief hot streak, driven by a PC printer that used a daisy wheel, was dashed by Hewlett-Packard's (HWP:NYSE) introduction of the laser jet printer. << Hmmm, to me it looks more like they'll be the next HP than the next Daisy Systems. >> For Iomega to earn 30 cents per share, Cohodes figures it would have to do around $60 million in earnings. "If it earns $60 million in any year from operations," he says, "I will wear a dress and serve all of the executives at that company lunch in Roy, Utah," where it's based. << Will that be lobster? How about inviting the shareholders too? I'm not interested in cross-dressers, but I would love to see a broke short serving lobster. ;) >> An Iomega spokeswoman did not return a phone call. (If and when anybody from Iomega does call, I'll be glad to run a point-by-point counterpoint.) << I'm glad that Iomega has the sense not to answer a person who is so clearly out to trash their good name. It would lend credibility where it isn't due. - Michael Coley - wwol.com