Hi everyone:
What a day! The battle may have just begun!
However, I like to take this moment of 'calmness' to ask everyone to re-read post #5701 posted by FlatTaxMan. This important post may have missed by many due to the hectic activity during the day... you know, with platoons landing on the beaches, airplanes zooming across the sky...
I also like to thank FlatTaxMan for taking the expense to send his friend over to New York to do some onsite DD or is that FlatTaxMan friend's friend? Regardless, one cheer for you, FlatTaxMan!
exchange2000.com
I am re-posting FlatTaxMan post with emphasis:
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To: Americo Burgos III (5692 )
From: FlatTaxMan
Monday, Nov 30 1998 10:09AM ET
Reply # 5701 of 5870
emailed from a friend who visited the company last week
Steve! Here it is. Please let me know what you think. I think it covers all of the bases, describes the human element, etc. At least now you have an idea of what the headquarters and people there are like.
Hi Steve!
You may recall my friend who I mentioned lives on the West Coast and is heavily invest in PNLK. He and I communicate over other stocks as well. In the course of this, my friend asked if I would travel from Boston to New York and get an impression for him about what the PNLK offices and staff are like. With his offer to pay the expenses, I readily accepted knowing I could hit my favorite West Village pub in the process. We had a deal! So my friend arranged an appointment for me to visit. Here is an account of my visit taken from my memory, not from notes.
I found at the corner of 51St and Fifth Avenue, a great location, very good for conducting both national and international business. Arriving, I was instantly greeted with cheerful and thoughtful expressions from Taylor, an assistant. After a moment of getting comfortable, cup of coffee and all, she introduced me to Glenn Zagoren.
Unfortunately, reconstruction elements of the city forced me to become a bit late--not because of that pub in the Village, mind you--so I feared my meeting time with Glenn would be shorterned. And sensing the buzz in the office, it was apparent to me that both Glenn and Jean Pierre Colleadreu(sp?) had an appointment with which to attend. Thus, I was delighted that when, pressed under pressure of having to leave, I was provided ample time for a good discussion.
I liked Glenn. I felt he had a great range of issues and knowledge of the world, knew the social value of life and the importance and value of interacting with others. He seemed good faith to me. Interestingly, he described NYC as a great place to meet people and make contacts. He sees the city as a tool for networking with others, noting his recent meeting of the Millenium Committee, he met a top name magazine reporter who seemed interested in ProNet. And he also noted he has an escape house from the city, a place where he lives on weekends, holidays, get aways, whatever.
I found that Glenn was very focused. You could interrupt him, but he'd always get back to where he was. He obviously wanted the topic to be his. This is the mark of a good PR person. So, given my limited lack of control and/or knowledge of ProNet--I'm not an investor and have never owned any--I, for the most part, listened and occassionally asked questions.
I felt he had a grasp of any subject I brought up and he was willing to expand on any topic. And the going beyond part always became the mechanism by which he'd steer me, the listener, in the direction of the next topic he wanted to go. Unless I brought him to a particular line of inquiry, he wouldn't offer you anything except what he wanted you to know. Again, the mark of a solid PR person.
One of the highlights from this communication was what seemed like an important phone call in the middle of our conversation. Being polite, I observed the decor of the conference room we were sitting in, requested more coffee and chatted briefly with Taylor. I purposefully did not want him to think I was listening to his conversation. But he seemed very excited and enthused about it and when it was completed he said he was working on a great deal, or words to that effect. I think also think it had something to do with the afternoon meeting which they were due to attend.
In any event, surrounding this phone call was Glenn's excitement about closing the Middle East Chamber of Commerce deal. He obviously was delighted about it. And this led into my inqurity about how many memberships has PNLK established. A key question both you, Steve, and my friend wanted to know about.
I felt Glenn knew right off I was trying to obtain a number from him and I could tell by the look in his eye he knew he wasn't going to give me one. His position on this subject was quite clear: (paraphrased) It doesn't matter how many sign-ups we have right now, because we're not concentrating on getting them in single units as the prime focus. Our focus is to get entities that, themselves, will bring in massive numbers at once. So it's not for us a situation of signing up as many businesses as can be propositioned. Rather, it's to get as many groups on board that can bring in thousands memberships at once. And again, back to the Chamber of Commerce alliances, etc. So I never got the number.
Sorry, guys! I tried.
I asked him if they'd consider funding for international development from the U.S. government, Dept. of Commerce, for example. He flat out no. I asked wasn't it possible the company could benefit from a business assistance trip such the one Ron Brown's was on when he tragically died in a Bosnian plane crash. He said government funding for anything was not in their plans.
I was somewhat surprised by his closed position here, given China. But maybe he just wasn't thinking on the level I was. Perhaps the strength he was trying to show me was the fact there was sufficient money behind the organization and that it is an amount sufficient to do what they think needs to be done to get the company off the ground.
I remember asking him if it was one person's money or a group of venture capitalists behind the company. My memory is a bit fuzzy here, but I think he just mentioned there were dedicated investors who were willing to spend what it takes. To back up his words, all I can say is: Someone sure paid for a pretty nice office. So, Steve, I told my friend he should personally follow up with Glenn on this question for better clarity.
And, of course, we spoke about Stock Detective? Well, we had common experiences but with different stocks when it came to SD. We both commented about hearing reports of Canadian brokerages shorting American companies, following an SD "Stinky Stock" exposure.
Now, here is what I found impressive. Glenn said they've hired attorneys to go after and prosecute--yes, prosecute--anti-hypesters. My gut feeling is that hypesters make a mistake when they take on Glenn. He's good. He seemed serious. He'll go after 'em! I liked this a whole lot, especially since I'm involved with a stock that's getting bashed around. Glenn looks like he can play hardball if he's gotta, but you also obviously could tell he'd rather be more laid back.
Now, here's a point of interest. He pointed out, and said he was surprised, that I was the very first investor, the only investor, to yet physically visit the office. Well, he was almost right.. You see, my position is I don't own any PNLK, but if I could free up something from one of my problem stocks, I'd buy some. I pointed out that I was here on behalf of my friend. But we still treated it like a victory, and they gave me a collectible item, a uniquely designed mousepad. So that's pretty much my experience with Glenn.
Now, Jean Pierre? What I liked most about him was that he was the opposite of Glenn. Jean Pierre appeared quiet, reserved, interested but didn't quite know exactly how to communicate with me. He seemed somewhat nervous, perhaps intent on the appointment to which they now were late to attend. It did seem like he wanted to talk and learn more about me, but he was constricted timewise.
But I suppose what impressed me the most and what's probably most important about Jean Pierre, is he seemed to nicely fit his leadershiop role, both in appearance and stature. And it was obvious his employees also see him in this light. Taylor, his assistant, was very good at prepping both Glenn and he--while simultaneously helping me--prepare to leave for their meeting. A definite plus, having a great assistant.
So that's as far as my individual conversations. I did tour the offices and found what appeared very good computer equipment, desks and workstations, furniture that could be in a congressperson's office, carpeting, nice art on the walls, all of that.. Employees?
They seemed focused individuals working hard with the computers and projects at hand as I passed through. All of 'em were well dressed and appeared as serious people at work. And, of course, there was a smile when someone passed by.
So in conclusion, Steve, like I told my friend--ProNet seems cool. I see no problems at the corporate headquarters. It looks like a workplace to me. Now, I don't know much about this stock, so I'm going to close and note I was happy to help you guys. Beyond the business end, I had a great time in NYC and was pleased for the privilege of visting ProNet, being it's first visitor. I recommend it. Go and visit, I think you'll find what I found. |
