I seem to recall several months ago, this list went through the same
exercise and speculation as to why the insiders were selling stock, and
making lots of money. I tend to agree, just because you place shares up for
sale does not mean that they are going to be bought, or that the company is
going under. Company directors do it all of the time.
If that were the case, I should be really scared. Robert "Ted" Turner of
AOL Time Warner, my company, placed for sale over $68M since February, yet
my department is as busy as ever. Did that mean that Ted has known
something since February? No. Probably that he was going to leave the
company, but not that the company was going down the drink.
I really don't like working with MI, probably because I don't understand or
have spent enough time with it, but I am not going to speculate about the
company just because I don't enjoy working with the program.
Marc Plato
AOL Time Warner
----- Original Message -----
From: "Neil Havermale" <[EMAIL PROTECTED]>
To: "Bill Huber" <[EMAIL PROTECTED]>; "MapInfo-L (E-mail)"
<[EMAIL PROTECTED]>
Sent: Wednesday, June 20, 2001 11:19 PM
Subject: RE: MI-L MapInfo improvements - Noise ratio?
> Bill and Steve
>
> Noise ratio?
>
> You suggest that there has been a rush to sell by MapInfo insiders? This
is
> simply not so. I see a fairly well run "small" company with some of its
> officers exercising their options knowing that they may have more yet to
> come.
>
> At best all I can see in the last 30 days are insider trades amounting to
> only 4000 shares. As for Gersuk's public disclosure of 78,000 shares via
a
> 144 Form (notice of shares), he may or may not actually sell them in the
> next 90 days. It does not mean these shares have traded or that they must.
> Its just public notification that these shares are now to be included in
the
> common stock "pool".
>
> Also the $2.5 million Steve inaccurately identifies with the 78,000 share
> block is at this moment a phantom transaction at over $32 a share. A very
> savvy trader might look at that as a signal the real value of the stock is
> not $20 or even $15 but likely it could be worth as much as $32 sometime
in
> the next 90 days.
>
> As to previous insider sales, yep, have no doubt that when the stock went
> over $40 and its PE soared far outside normal, its time to reduce risk. I
> and plenty of others got out as well. MapInfo didn't create the over
> valuation - the market did. Simple smarts - nothing sinister in my mind.
>
> Noise like this might be read as an attack on MapInfo's market value
through
> suggestion that MapInfo is being run by crooks who simply run up the
value,
> sell and dash (worse yet, they don't respond to "wish-lists"). Of course
> few check details that seem to be well founded in an analyst's reputation.
> But heaps of money can be made by going short in a falling market?
>
> Most importantly MapInfo has recently signaled several times that
> expectations for this quarter above $0.19 earnings per share may be
> optimistic but that too was missed. Actually $0.19 is the MapInfo's
> projection not to be confused with market analysits who have missed
> MapInfo's over performances quarter by quarter. Why the conservative note?
> Maybe MapInfo or its institutional investors also face macro-economic
> factors like currency issues, a soft business cycle here and overseas,
> tactical write-offs, new tax rules, and a host of items that are all part
of
> a public corporation's disclosure.
>
> Myself, I am keeping my eye on the ball and the near-term potential for
> MapInfo to be a, possibly the, significant GIS player in the pending 2.5
and
> 3.0G wireless revolution. Given there are at best 1.5 to 1.8 million
GISers
> out there growing at 25 percent per year (Hey MapPoint is going to get
their
> share too!) I have to wonder out a loud about the 100 MILLION Java enabled
> smart locators that will appear in the next six or so quarters.
>
> Hmmmm...... Didn't MapInfo just do something for Motorola and what was
that
> I heard about Lucent? You want speculation? I wonder what Jack and Bill
> talk about on the elevator?
>
> MidNight Mapper
> aka neil
> 6/21/01
>
>
> -----Original Message-----
> From: Bill Huber [mailto:[EMAIL PROTECTED]]
> Sent: Thursday, June 21, 2001 8:29 AM
> To: [EMAIL PROTECTED]
> Subject: Re: MI-L MapInfo improvements
>
>
> At 05:23 PM 6/20/01 -0400, Steve Wallace - FFBIC wrote:
> >Well, Joe Gersuk (CFO & Exec VP) has 78,000 shares proposed for sale at
> $2.5 Mil... maybe that had something to do with the drop?
>
> Probably not. He and _all_ other insiders have been selling fast and
> furiously for at least two years, at prices as low as $15 (MAPS closed at
> $20 and change today). See their record at
> http://www.insiderscores.com/searchdb/search.asp?ttype=A&ticker=maps :
> not a single insider purchase in sight. Collectively, they have sold off
> about 6% of the company during that period.
>
> --Bill Huber
>
>
>
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