Forum Archive Index - September 2000

[Derek <dkw@paradise.net.nz>]

A glance at some of the competition is interesting

http://www.sanderson.com/energy.htm

Derek



At 08:25 AM 10/09/00 +1100, you wrote:
>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.
>
>
>
>
>
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