MRVC shareholders meeting and tours of (a)
Luminent foundry, (b) Luminent HQ and (c) Zuma HQ.
Social/Personal things first.
I showed up late, having
visted the dentist first. I dunno what happened the
first 30 minutes. Do not watch Interview With The
Vampire on video the night before a dentist visit.
Approximately 80 people at the shareholder's meeting and about
25 on the tour. MRVC
provided two shuttle vans
for the tours.
I was among the youngest
people in the room, and nearly the youngest on the tour.
This I'm not used to anymore. And I was the only one
on the tour wearing a sweater. <ggg> Diana was
the President of Zuma was way under 30.
He got his BS in 1996 from Caltech. He started at
he graduated. He used to do their
world wide training. Very very well spoken, much better
else except maybe Eric Blachno. He can
run my company any day. He mentioned that he was
president and basically acting CEO, but that he hadn't
taken the CEO title, and that was his call. I guess he
was thinking he would need someone else to help run
the company so he wanted that title open to offer to
Noam looked ok for someone who had his
net worth drop from 150million down to 30 million
instead of climbing to 1 billion. Someone mentioned he
looked like he had aged. I'd not seen him before. Maybe
he read Kaka's or Sector's predictions (as opposed
to all of us who don't know what they're talking
about) of what might be and expected the stock price to
zig instead of zag.
Didn't talk to too many
people, a few on the tour. There was a fellow in all
black with a hat and cool shades asking pointed and
good questions. Someone very tall and quite old,
walked slowly who picked up some of the parts off the
assembly benches. A pair, one older, one younger needing
to get back to the airport on time - I gave them the
directions I printed off the Zuma web site. At least I think
it was on how to get to Zuma from the airport. And I
hopefully over estimated the amount of time for them to get
there, at least I do hope they got there early rather
I brought some lunch, figuring MRVC
was fairly cheap and unlikely to supply much food.
There was a breakfast at the meeting, but nothing else.
At Luminent and Zuma, they both emphasized that they
try to take good care of the employees. Both places
had fairly large eating areas, which mainly impressed
me by being quite clean. Someone is caring for them;
of course they are brand new facilities.
None of the employees struck me as being under stress
at all. We mainly saw clerical and top managment,
rather few engineers and assemblers since it was lunch
hour when we were touring.
Heard one lady
talking about being a lurker on SI. Well, me too. Who
else was there? Speak up and be counted!
<<BSP, was anything said about
By the size of the font used for them at
http://www.mrv.com, They look like they are becoming less important.
I heard not a word about hyperchannel. I think they
must have actually mentioned the name at least once,
when listing the partner companies, but that's not
from memory but from reasoning about the meeting and
how it went.
Another MIA was the "European
subsidiaries" listed on the web site as just that and mentioned
at least once.
Noam definitely watergated
anything that wasn't going strongly. Not that I blame
But he did have lots of positive stuff to talk about.
These meetings must be h*!! when you've only got bad
news to present.
The NYTimes had a nice long
article on CMGI, and the tone that Noam set versus the
description of how CMGI is run was striking. Noam emphasized
several times that MRVC was an ORGANIZED TECHNOLOGY
VENTURE Company. They didn't just start up random
companies, and they don't just create companies at random.
They make sure that the companies don't step on each
other's toes, while still supplying each other, and
making deals with each other. The NYTimes article
suggested that CMGI companies are required to make
"draconian" deals with each other. Noam didn't address the
terms which the other companies deal with each other.
BSP, was anything said about
By the size of the font used for them at
They look like they are becoming less important.
Please don't ask her (he?)to recommend
anything.In addition to being a shameless hypester of MRVC,
she has also steered many of the MRVC investors (that
simply idolize her) toward CNTR and other stocks that
proved to be big losers. In my opinion, place her on
your IGNORE list. She's a LOSER!!!!!
<<Did Noam say CWNT is
participating in trials with csco and jnpr sponsored by light
I think he said that CSCO and
JNPR did NOT participate. And he implied but didn't
directly state that that meant something - something
positive about CWNT. However, I think it means that CWNT
needs all the PR they can get, while CSCO & JNPR don't.
They can only lose by the comparison, and can't gain
<<Did you have a red sweater
Duffeck - Pleased to make your
acquaintance! I rather enjoyed your questions / comments /
commentary at the tour.
<<My notes are not
nearly as complete as yours. I will compare them if
there are any significant discrepancies I will point
Yes, definitely. And your
general over all impression would be welcome.
That was you! Good looking! I was there
in the back. couldn't pass it. too much vested
bit disappointed about delay in CWNT. rev ship in mid
2001? They are probably still working on softwares.
but, Zuma exceeded expectation, me thinks. Zuma CEO
Noam and LMNE CFO were both as
much agahhhhh as we were about 12-16 target. That
tells a story. story is
"Coverage is not gonna
come by begging! They have to prove it"
When Zuma,CWNT,ZAFF become buzz words, only then we
will pass old high. not sure OA would do it. not sure
about iTouch either. Noam did not say much about ITCH,
Did Noam say CWNT is participating in
trials with csco and jnpr sponsored by light something?
Excellent recap! Incidentally I was the guy in
all black with the hat and sunglasses. Did you have a
red sweater on? My notes are not nearly as complete
as yours. I will compare them if there are any
significant discrepancies I will point them out.