I’ve never before commented on Sun’s financials or share price, so I should start off by emphasizing that I’m not a financial insider, in theory or practice; I have exactly zero advance knowledge on how any given quarter’s going. I haven’t worked at a big public company since the Eighties, so I don’t know whether this is typical, but I’ve been impressed at the data control; there’s certainly a rumor mill here but I’ve never heard a single whisper on financials. Anyhow, this all means I can buy and sell shares whenever I want, and I have been.
Since I’ve been here, I’ve noticed a pattern where, as it gets close to the end of each quarter, the share price drifts down; I guess there were enough crappy quarters that this was a decent way to make money. Lately, with our CEO and CFO are running around making happy-face promises and not showing any signs of backing off them, the pattern seems silly. As an employee and shareholder, I was pleased to see that people who did the end-of-quarter dump thing last quarter probably lost some money.
So this last quarter, I’ve been picking up Sun shares on the market when they get south of $5. We’ll see how that bet works out. Just putting this on the record so that those readers inclined to see me as a corporate tool will have another reason to discount anything I say.
In fact, if you’re going to distrust me, it shouldn’t be because of the logo on my paycheck or the capital-gains upside on Sun shares, it’s because I’ve got my ego wound up in this now. There are not that many successful turnarounds that start from a position as crappy as things were here when I joined the company in 2004; being a small part of one is a very big deal to me.
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From: John Minnihan (Jul 30 2007, at 17:30)
Congrats to you all.
Having had the pleasure of extended email conversations w/ Big Bubba (you know who he is), phone conversations w/ Mary S and others... I feel Sun is in great hands.
Carry on.
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