Buying StorageTek: Sun's last big gamble?

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Wall Street vs. Business

Is anybody bothered by the disconnect here? Prudential's analyst Steve Fortuna says "We would rather have seen the company buy back a billion shares and fire 10,000 people" while Sun's Canepa says "One of the primary reasons we did this deal (is that) we just do not have enough feet on the street selling storage." Wall Street is so willing to grind people into hamburger for short term stock price gains while real business people who have to work for a living understand that real work (i.e. not stock market confidence games) is still done by real people. I wish Sun and StorageTek (and the 10,000 still-employed people) well; it might be a good deal in the long run.

When I get to be king, I'm only going to make about 12 changes. One of them is a rule that if you buy stock in a company in which you are not marterially involved, you can't sell it for 10 years.

Posted by: utoddl   Posted on: 06/03/05 You are currently: a Guest | Members login | Terms of Use

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