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Gold/Mining/Energy : KASTEN CHASE APPLIED RESEARCH.
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To: Ruby who wrote (942)8/19/1999 12:49:00 PM
From: Ichy Smith   of 1247
 
"I think you were wrong to bail out now. My bet is that as soon as the leader of NYCT is announced Sept 27th or so, Springboard will receive a lot of attention"
I think you are right, which is why I am extremely disappointed that Springboard is being spun off at this time! By the time all the new directors and the new executive grab their piece of the pie there won't be anything left for Kasten Chase. A new company means a new board of directors and a new management, and lots of options to make sure they are motivated. This means that the management has more goodies and the shareholders get nothing. It isn't as if they haven't managed to get the contract to this point doing within Kasten Chase. The plan to sell Springboard stock dilutes what Kasten Chase will own which means that those who held on to Kasten Chase till this point, will get far less benefit from their investment, while the new investors in Springboard will make money from our investment. And it is certain that they will be selling Springboard stock to raise money to build the systems for the NY contract. As for the rest of the things, the Subway contract is presently the best thing that Kasten Chase had going for it, and now it is spun off into another company.......
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