The CFO of one of the largest computer shops in the world bails out to work at a small startup. Nice.

http://cbs.marketwatch.com/archive/19991102/news/current/ibm.htx?source=blq/yhoo&dist=yhoo

Also, check out what the Contrarian had to say at: www.siliconinvestor.com

For educational use only:

November 2, 1999 Stocks soar, then slip ........ In the overnight news, Newbridge Networks announced it missed its numbers and was promptly smacked for 25 percent. The company had admitted previously to building into inventory in anticipation of a big surge of Y2K-related orders, when in fact that is not what's taken place. So the nuclear winter problem has now shifted to networking.

What nuclear winter?... Of course, now no one believes any longer in nuclear winter because there's no more bad news being rained down on an hourly basis. And, of course, we had Intel and Microsoft deny any aspects. So 40 companies indicate they have a problem and two say they don't, and in this environment folks believe there is no problem. It looks like we'll have to wait until we get to the next round of companies that have to `fess up before everyone starts worrying about that again.

Interestingly enough, the president of Newbridge resigned on the back of the company's disappointment. The CFO of IBM also resigned in what was almost a hilarious statement, apparently because he was not able to keep the company up on Y2K problems. As if anyone should believe that it was his doing that IBM missed this and Big Lou and the rest of the organization weren't aware it was going on. In any case, that was a good-enough reason for most folks, I guess.

Interesting comments by Fleck eh?

-- Gordon (g_gecko_69@hotmail.com), November 02, 1999

Answers

Bill Fleckenstein is so cool. He makes the Market Rap crew look like retards.

-- Gia (laureltree7@hotmail.com), November 03, 1999.

I hadn't watched very much of Market Watch until recently, and I have to say I agree with you re Mr. Fleckenstein. The venture capitalist and market analyst as rock'n'roller. All those suits and here's this shaggy dude in an all-black outfit, not taking it all too seriously, too cool for words. Most enjoyable.

-- Mac (sneak@lurk.hid), November 03, 1999.

Wonder if the ex-CFO is gonna take a 5 month plus vacation before considering starting his new job?

-- A (A@AisA.com), November 03, 1999.