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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (4204)5/31/1998 12:39:00 PM
From: Allen Furlan   of 78670
 
Re ASFN
exchange2000.com
I have seen references to ASFN in the Washington Post several times in the past 3-4 years and have not investigated thoroughly as of yet. Shane Milburn's posting joggled my recollection. The dissident shareholder story appeared perhaps one month ago. The story was that the new board members reversed their pre vote course, and decided that the president could stay since the companies woes were not his fault and that his performance was adequate. The stories that preceded that stated that the contesting shareholders believed that the board was controlled by family interests including the president (and I believe his father??)and the family was receiving unacceptible levels of compensation relative to poor financial performance. Can't remember whether full board or partial board was replaced. Probably easiest way to find out is to call the company.
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