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Author: woody912 One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 62  
Subject: Re: New CEO Date: 7/5/1997 10:58 PM
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The forerunner of Stream started in the 80's when the Book group of DNY signed a contract with Big Blue to replicate media and provide documentation for IBM and other OEM's back in the early days of PC's. Made money hand over fist as cost cutting was unheard of. DNY later bought a small co in Hudson , Ma and picked up a guy named Rory Cowan who became the head driver of this unit. Eventually DNY acquired Corp Software from Bain Capitol and made the whole thing into Stream. Meanwhile the OEM's discovered cost cutting and media replication became a commodity instead of a cash cow. Walter fired Cowan in '96 and the whole thing started unraveling. Stream closed C'ville plant in '96 which was profitable and retained Provo and Raleigh sites which have become real white elephants. Currently, the service side of Stream appears to have value while the other two entities, particularly the mfg side appear to be negative assets. finally , to wrap it all up , I believe DNY has to provide an exit for the balance of Stream owned by Bain Capitol sometime this year. It appears that this will be a black cloud over DNY until they can unwind this position. When you get tired of checking this story, check out Metromail, another DNY spinoff!!! woody
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