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Ascential Software Corp. (ASCL) Message Board

  • mentges mentges Apr 24, 2001 6:54 PM Flag

    New investment low -even for me IFMX

    I've had it all happen - dot.com bankruptcy, CFO's that took money at fled to the Cayman Islands, bad earnings, bad products, etc. etc. BUT, in my 20 years of investing, I have NEVER had the CEO and Board sell the company out from under me for pennies on the dollar. This is like Federated selling Macy's to concentrate on Fingerhut! Shame Shame

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    • This still is a wierd situation ..How can a CEO sell 85% of the company. It would be like the CEO of GM selling GMAC or CHEV. for pennies on the dollar ..because he wants to run GMH, or ON-Star or better yet a small regional bank instead of GMAC. Can a CEO sell the TRUE company out from investors to manage and keep a division that most shareholders do not know that exsists. It would be like PHILLIP MORRIS selling Miller Brewing (they own Miller) for pennies on the dollar to run the water treatment divission. (They also run the water treatment for the Miller plants.

      • 1 Reply to TRofWa
      • "substantial" shares in the "3rd quarter" when this $800 million net cash hits the books, these guys had to have expected their stock to go low and stay low until that time and thereafter. They didn't even come out today with a share buy back announcement with the 200 million current cash on the books. There are 300 million shares fully diluted. At $10 bucks per share you could only retire 80 million shares still leaving a "substantial" amount of shares on the books for such a small $150 million or so revenue company. They have been hiding behind IBM the past 4 months at least, in my mind. Their growth for the quarter was dismal and off target. They continue to use IBM as their camouflage moving forward this quarter. The key going forward is the agreement with IBM and others(?) and whether or not it truly benefits Ascential or not. IMO

 

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