Business Services Industry
The Boston Globe Boston Capital Column.
Knight Ridder/Tribune Business News, August, 2001
By Steven Syre and Charles Stein, The Boston Globe Knight Ridder/Tribune Business News
Aug. 9--Upbeat and with cash -- but without investors
How do you know when investors have lost interest in your company? When the company's stock is worth less than the cash on the balance sheet.
Bill Reece is in that situation. His company, HealthGate Data Corp. in Burlington, has $10 million in cash but the entire company has a market value of only $5 million. In effect, the market is saying that HealthGate's ongoing business is worth less than nothing.
"There is no rhyme or reason to that," said Reece, the chief executive. Maybe. But convincing the investment world of that is no easy task. The lesson of the dot-com bust seems to be that once...
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