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H.T.E., Inc. (HTEI) Message Board

  • LMcKenna LMcKenna Jul 28, 1999 12:03 PM Flag

    Big trade approx 80K shares...

    MM's are accumulating again from what I can see.
    Just picked up another 1K. When I see MMs looking to
    buy a lot (BID), but not offering as much on the sell
    side (ASK), that implies the stock SHOULD be going
    higher.

    Also, we are at the typical low right now (even got in
    for less than my usual 2 5/8, got 2 9/16).

    As
    usual - I KNOW NOTHING EXTREMELY USEFUL in investing in
    this company, other than watching the trading
    patterns, and have been successful so far. (Of course, I
    still believe that as a s/w company they can easily
    turn themselves around and then I'll make a ton of
    money!)

    Accumulation time --- need to make some money for all the
    landscaping work in my backyard.

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    • >>>> You speak of buying at $4.50.
      Which company and under what circumstance?
      <<<<<<<

      My objective is to establish a 5K shares position in
      TYL. I believe the general market will sell off over
      the next couple of months and MAYBE I will have an
      opportunity to buy TYL below $5.

    • You speak of buying at $4.50. Which company and under what circumstance?

    • Lots of questions. Answers to the best of my
      knowledge: Seminar was put on by First Dallas Securities.
      Presentations by several companies including
      LUV,TXN,DS,TYL,NCI,HAST, others. One presenter by TYL. Mostly individual
      investors like myself although there were a dozen or so
      analysts on the buy side present.

      I agree that TYL
      is lightly covered by the investment community (and
      I am just now aware of HTEI) but that is not all
      that bad. I intend to watch the companys progress over
      the next several weeks and establish a position as
      the price is right. My opinion is the market will
      make a waterfall decline between now and November and
      when it does I will step in. Hope to buy at around
      $4.5 or so. I have a personal friend who knows Sonny
      Oates and the friend bought 50K shares based on his
      opinion of Oates. Unfortunately (or fortunately depending
      on your point of view), the $300K those 50K share
      cost him were no big deal in his overall finances, so
      his conviction is not a factor to sway other
      investors.

      I would be interested in knowing more about HTEI
      and the trials/tribulations that have gone before at
      HTEI. If you care to take the time to respond, contact
      me at dallastex@ieee.org for private correspondence.


      If the guys running TYL are able to pull it off, it
      may be an opportunity for us little guys to ride
      along.

      Thanks.

    • could you please eloborate on the "investment
      seminar" you attended on thursday. was this put on by a
      brokerage firm, if so, who? where there more than one
      presentation by co.representatives? where there many analysts
      present, do you know when from. thanks for any input. i
      see fyl as a terribly undercovered company, there is
      absolutely no coverage by the investment community,
      consequently the co, stock hardly trades at all and there is
      very little if any following by the public. i do see
      htei as being in its best position in a long while
      with exciting and interesting times ahead, no question
      about higher stock prices-probably big loss this
      quarter, in order to flush out the books and questionable
      writeoffs but then it should be able to crawl back. the
      harwards did us longs a favor by resigning and trading
      thier stock for fyl stock. they could of stayed around
      and that would off be terrible!

    • I attended an investment seminar in Dallas
      yesterday where a TYL exec spoke (VP of Bus Development..do
      not remember name). Bottom line on presentation was
      TYL strategy of acquiring many companies in the IT
      for local government arena. Buying most for approx
      6xEBITDA. Statement was made that the only impediment to
      their strategy now is ability to analyze and process
      acquistions. They apparently have literally hundreds of
      potential targets.

      My personal concern is can they
      consolidate and integrate a rapid string of acquisitions.
      However, two factors are encouraging. Chairman of TYL was
      a founder of Browning Ferris in Houston and was
      successful in growing a multi$B business from hundreds of
      acquistions and consolidations (in waste management). A Mr.
      Oates (TYL BOD) has a history of success in growing
      businesses rapidly and successfully (in IT and Title
      Insurance).

      The exec making the presentation came across very
      well...straightforward and candid (no BS apparent....willing to
      acknowledge when he did not have an answer to analyst
      questions).

      I do not yet have a position in TYL or HTEI, but am
      watching carefully.

      Interested in any pro/con
      views.

    • 1. Tyler has recently (since 1997) set out on a
      consolidation strategy in the local government information
      systems industry.

      2. Since early 1998, they have
      made 10 significant acquisitions.

      3. Tyler has
      a varied history. They have previously been
      involved in auto parts and other industries.

      4.
      There is a pending environmental claim in New Jersey
      involving an allegation of contamination of a site where a
      former affiliate of a former Tyler-owned subsidiary
      operated a foundry.

      5. Tyler currently has
      sufficient authorized shares to issue additional stock on a
      1 for 2 basis for remaining HTE shares.

      All
      of the above info is contained in Tyler's SEC
      filings, which are readily available.

      As usual,
      this post is not financial advice and should not be
      relied upon in making any investment decisions.

    • First, the TYL board is almost always dead. I put
      my wake up message out there on Aug 3 (big news) and
      got no reply until it actually happened. Don't be
      surprised if you don't see any action now either. TYL is
      sort of a "pieces in a bucket" kind of company that
      used to be into auto parts sales.....no kidding. Not
      really a company you can get excited about.


      Second, TYL release said they expected to have the deal
      concluded on Aug 19. No PR yet. It's now Aug 20 and
      counting. This should be a simple transaction if its just
      the private sale of 5M shares. Maybe Dennis is
      realizing that he got taken or he is trying to squeeze out
      a few more perks. Or maybe someone sent a note
      saying that with a little more time, they might put a
      better offer on the table. But, as of now, the deal's
      not done.

      The HTE Board is exceedingly quiet
      so far. Maybe Markey and BancBoston Ventures are
      shopping around to line up buyers to make a counter offer.
      If we don't see closure on the Harward sale by 4PM
      today, this offer from TYL may fall off the table. Maybe
      Dennis went down the aisle with TYL to spur the current
      board into action and putting an offer on the table.


      And, maybe the current board is busy putting a poison
      pill together and we'll get a PR on that. TYL might
      not command two spots on the 5 person board if all
      they buy is the Harward's stock. The new board could
      issue a special perferred stock and make it exceedingly
      difficult for Tyler to conclude the full take over. I don't
      know anyone out here (public holders) who would vote
      with the Harwards now.

      Like I said yesterday,
      this is just now starting to unfold. Maybe I should
      write a book about this......it could be a best seller
      of corporate manipulation and greed. It should be
      interesting to see what happens. Believe me, others are
      watching and possibly acting while we speak.

      Oh
      what the heck....disclaimer, disclaimer and a little
      more disclaimer.

    • I agree with the basic facts as they are
      currently known and presented. However, not all the cards
      are on the table yet.
      HTEI is on the block,
      although unwillingly, and in time will be bought by Tyler
      or some other suiter. A bidding war would be nice.
      This company is to good a deal not to be pursued by
      other fish.

      IMHO,
      1) Tyler normally makes
      acquisitions, not financial investments. Do they see this as a
      win-win situation?? Keeping open their chances to acquire
      & control HTEI, but also the option to sell off
      their HTEI shares to an a higher bidder if the
      acquisition cost gets to expensive.

      2) Dennis is more
      interested in power and control than money. It's an ego
      trip, not necessarily a financial trip. He likes money
      & toys, but power and control are the real trip.
      The board may have dethroned him, but he wants to
      show that he can still flex his nuscles. There is more
      to this than just a stock swap at the 1 for 2 swap
      price. Dennis knows the company is worth more that that.
      Has Dennis negotiated a job with Tyler?? Will Tyler
      spin off a small division to Dennis inexchange for the
      rest of the Harward stock?? Cards have yet to be
      played here.

      3) This is almost a non event on
      the Tyler BB?? No comments from the interested
      parties when their company is about to double in size???
      HTEI stock showed a spark of life yesterday morning,
      quieting down as the day progressed. Very little reaction
      in the Tyler stock. You have not yet heard the last
      from the Harwards.
      I hope Tyler truly understand
      what they have gottten themselves into this time.


      Check out the following article that appeared in the
      8/20/99 edition of the Orlando
      Sentinel:

      <http://orlandosentinel.com/business/tech/t082099_hte20_12.htm>

      Disclaimer - all of the above

      The sad_gator

    • If they are going to ISSUE NEW SHARES for the
      Harwards, then they will experience a bit of dilution in
      their shares' value!

      As long we do not sell out
      at the same (2-1), then we will realize a better
      return over all. The Harwards are now 80% vested in TYL
      and only 20% in HTEI. If we turn around, and TYL does
      not, then Dennis has made ANOTHER mistake!


      However, if the acquisition does go through, especially at
      2-1 (aaaaggghhh), then we best all hope that TYL can
      turn things around QUICKLY...or this investment was a
      total waste. From what I have read here, on TYL board,
      and the press, I don't think TYL can digest HTEI
      along with all other acquisitions and make them all
      work profitably (too much competition within, and no
      plans for a REAL consolidation which would result in
      HUGE profit potentials).

      Acquisitions can be a
      GREAT thing, but if the parts compete against one
      another, and you have the overhead departments left intact
      for each, there is no cost savings. Not everyone is
      going to be profitable at all times (one is usually at
      the expense of another).

      Acquisition by TYL,
      at least how they seem to go about them, is NOT a
      good thing for us. I hope that another, whether IBM
      directly or JDEC decide they need us and come in at $5 -
      still bargain basement price...but at least then Dennis
      will have no more say in HTEI once and for
      all.

      Disclaimer (why not, everyone has one): I tried to give
      Dennis the benefit of the doubt, and hope he was really
      trying to do what's best (as far as he could tell) for
      everyone. However, his latest actions firmly convince me
      otherwise. He is in it for himself and his cronies. So I
      say, "Let him eat cake!"

    • Nice observations hennorama, except this "mess of
      a company" as you say is going to be back on track
      sooner than expected.

      Harwards are now playing
      on TYL's home field. Advantage TYL. So one thing's
      probable. The folks at TYL will protect their interests
      successfully.

      HTE BOD and TYL BOD will be talking more
      amicably than some(maybe Harwards) now realize. For
      starters, the BODs of both companies know one thing. TYL
      got a bargain at $3/share. Nice move TYL. Very nice
      move.

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