Forum Archive Index - September 2000

[Andrew Logical <nlogical@yahoo.com.au>]

I don't think so.

Contrary to what many people think, Lucent have NOT
taken a 20% stake in WEL.  They have an OPTION to take
a 20% stake.  Why an option? - because it was the most
Spectrum could pursuade them to take.  If Lucent had
been keen they would have taken the stake itself. 
SPE, for street cred., would have fallen over
themselves to give them a stake.

Look at all the buying that went on prior to
Spectrum's August 16th hyped announcement that Lucent
had an option.  (Successfully hyped - look at chat
sites to see how some people think Lucent now has a
stake in WEL.) Very suspicious.

On the plus side for Spectrum, they have retained
WEL's CEO as Spectrum CEO.  But Spectrum's new
directors don't exactly inspire e-savvy confidence -
previous directorships in steel and tube, elder-care,
metlifecare etc.  Not exactly high tech.  It beats me
how this bunch are best placed to provide Spectrum
with "the business expertise to grow their business,
especially into overseas markets."  Directors with a
greater appreciation of high tech and software
development etc overseas would have been valuable but
are absent.

Does Spectrum have any future direction?  First they
wanted $10m in a rights issue.  Then it was $4m, which
they now have.  What are they doing with it?  WEL
seemed to be running along quite happily without
Spectrum's directors.  I guess a chuck of that $4m is
needed just to pay the directors fees.

Sorry for the sceptisism but, in the share buying
game, I've found it to be just about the only
effective weapon I have.





_____________________________________________________________________________
http://geocities.yahoo.com.au - Yahoo! Australia & NZ GeoCities
- Build your own Web Site - for free!

----------------------------------------------------------------------------
http://www.sharechat.co.nz/          New Zealand's home for market investors
http://www.netbroker.co.nz/        Trade on Credit, Low Brokerage. Join now.
----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/forum.shtml.