Who's buying ITRI today? Apparently at around $4
a share we are attracting some hopeful bottom
fishers. 120K shares so far. I guess that book value just
looks to tempting with a possible slow motion
turnaround in the works. Gobble, gobble everybody. skep
Today's Wall Street Journal reports, "Energy
regulators are preparing a landmark order to create a more
efficient national transmission network that can better
support the expanding market for wholesale electricity."
A more complete article accompanies this page 1
This may stimulate the pace of deregulation that
should benefit ITRI.
I'm still hanging tough too
and have been for 3 1/2 years.
Good luck to
Itri is making money, very little. Their problem
is growth. There is NO growth. They
positioned for an earnings explosion, if and only if they
can increase their sales.
The street loves
companies that are growing over 20-30% a year. When ulities
start buying is anyone's guess.
I would give
them another 9-10 months for a sign. Y2K should be
behind them. However, things could change
sooner..........still hanging tight.
I have held this stock over a two years so I am a
loser so far. I have about 200 shares at about $18 so
it is not going to make me jump off any bridge. It
had dropped alot to reach 18 and I tried to catch a
falling dagger. I was stabbed.
I keep waiting for the
company to make money, anyone know when that will be. I
try to make it a rule do not invest in companies with
no earnings. Then there are exceptions, like this
---it is a great story.
I repeat, any idea when co
will make money?
happy holidays to all
Over the past several years, ITRI has cut, and
cut, and cut. Every time they quote X million dollars
should be saved in the next fiscal year. Every quarter,
we see more losses. The supposed savings never
materializes. My theory is that ITRI is cutting all of its
talent. The cuts are crippling the company to the point
that it does not have sufficient innovative abilities
to overcome the market constraints that are present
in this industry.
The cuts in Spokane and Boise
are going to make this problem even worse. Many of
the most experienced staff are likely to leave.
I have sold all of my ITRI at a loss, and I do not
see the company turning itself around until the
competitive environment changes substantially. (They have
been saying the same thing for years...) They
constantly blame their shortfalls on the regulatory
environment. Unfortunatly the regulatory environment doesn't
seem to be moving fast enough, and Itron has layed off
the talent that they would need to produce a product
that their customers would actually be able to
purchase in the current environment.
Best of luck to
all.. I hope that ITRI turns around...
Bigger question Skep.
I ain't an investor.
Why in the hell are we the only two posting to this
board? What happened to Itsuam? Did he hold his nose and
jump offa the bridge? <g> (thats a joke, I sure
as hell hope it ain't in extremely bad
Seriously, there isn't much interest here. Where are you
I first got into Itron a few years ago on a
Barron's tout. It was a female in the Roundtable. Charlene
Murphy. Does that sound right?
She was dead-on. I
bought on the tout at 32 and the sucker ran to
I held...pathetically...while she probably sold.
Question is: If ITRI cares less about the little guy, what
are they doing to convince the institutions?
re>I sure would like Chesser to say something
about this vision before I would be an investor
Grif, why not scroll thur these slides from the recent
AEA Financial Conference that was held in San Diego
last week[Nov 9 &
I know that is a rather inefficient and spotty way
to get an idea of what Itron's presentation was all
about because there is none of the oral reported but
don't give up on your scrolling as every once in a
while something of informational value is at least
alluded to. I don't even know who did the presentation,
Chesser?? + others or somebody else. You would think
Itron's PR[press and shareholder relations]would have
issued some public release concerning the conference.
Also, take a look back at the shareprice movement in
this timeframe. I would guess the analysts' reactions
to the info release[especially any forward looking
info]must not have been negative.
As far as I can
tell, Itron really isn't concerned about what the small
outside investor thinks of Itron's stock value. At least
that's the impression I continue to get. No wonder
Chesser's "share value gap" continues to exist in
Well Grif, you'd be a fool not to have such
feelings given the PAST performance of ITRI.
Chesser all that slow given where he's coming from and
where Itron's at?? I mean that Board at Itron has
really got to be suspect. I'm sure Chesser has to
interact very carefully with them. Being an outside
shareholder with no internal info sure has its
I had formal training as a chemist and also some
experience as such, as far as starting an analytical
services company. That was years ago. I haven't been
"employed" for over 30 years now.
I would guess
selling a non-standard product has its rewards as well as
risks, even though they may be somewhat hedged.
Commodity products also have their drawbacks from a
competitive point of view unless you have a standardized
A lot of engineers, heck most engineers, don't
necessarily make good businessmen because of their technical
and problem solving approach to matters of a more
humanistic nature. Maybe we can just agree to disagree on
As far as further investing in
Itron is concerned, I haven't done any recently[well
maybe a thousand shares]and don't plan on doing so.
There really has been a lack of communication as you
mention. Anyway, I will accept any luck offered as I do
realize the risky nature of my current position.ggg skep
Skep, I can't add much more than I have said. It
just seems to me that Chesser is trying not to ruffle
too many feathers. He ain't moving fast enough, he
ain't cutting deep enough, and he is trying to rebuild
with the same talent.
Tell ya what bothers me
most about this business Skep. Are you an engineer? I
am. I have also had some experience in the AMR
business. My fear is that every system (utility) is
different...that ITRI cannot just sell standard product...they
have to deliver systems integration and
The systems business SUCKS. There are always
"gotchas." The customer doesn't wanna pay for gotchas. All
systems contractors build in contingent costs, but then
they are exposed to being underbid by some idiot that
doesn't apprerciate the risks.
For ITRI to succeed
and be profitable they need to be able to sell
products, with the systems aspect of a sale being small. If
EVERY sale is different and has a large systems
engineering content, they are a long way from
I sure would like Chesser to say something about
this vision before I would be an investor again.
My first take was very similar to
On first read, I got the impression that the news
release was just administrative PR. However, spending a
bit more reading time on it has changed my mind,
1.) Re-emphasizing the focus on the customer Always
makes sense when attempting a reorg and
2.) Of the top 10 active executives, four have been
removed counting the fact that Humphreys is no
longer[?]in an active executive position. Actually changing
40% of top management is a somewhat radical move by
3.) The changing of the titles and focus of the 10
officers at first seemed like a game of musical chares
with the dethroning of the three departing executives.
However, assuming that Chesser is not only sincere but
also correct in his initial assessment of the quality
of the onboard talent, then these reorganizational
changes may actually yeild Chesser's[and the
shareholders'] hoped for improvements. As an outsider and at
this point in time, I have to give Chesser the benefit
of the doubt.
4.) It will be interesting to see
what new management talent is brought on board as
mentioned in the press release, particularly that necessary
for the improving of the international sales
From the shareholder viewpoint, the one line mention
of shareholder value, even though fairly
strategically placed within the press release itself, left a
bit to be desired. Seeing how Chesser's "share value
gap" still exists[in spades!!], possible better use of
the PR tools available to Itron could be accentuated
in the future.
One last thought, What about
lightening up the Board of Directors a bit, say the top two
positions???????? Shound not they be held accountable for the lack
of timely response to the internal and external
conditions that have so impacted Itron????
appreciate any comments by you or others, thanks skep.