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Technology Stocks : HCOM - HomeCom Communications < Short Term Gain? >
HCOM 14.550.0%Jul 1 5:00 PM EST
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To: Investor2 who wrote (222)8/4/2000 9:18:19 AM
From: rod runyan  Read Replies (2) of 232
 
eadline: HomeCom Communications To Sell InsureRate, FIMI Companies.

================================================================
ATLANTA -(Dow Jones)- HomeCom Communications Inc. (HCOM) agreed to
sell its InsureRate marketing and insurance unit, along with its Fimi
unit, and announced the resignation of Chief Financial Officer Jim
Ellsworth.
Financial terms weren't disclosed, but HomeCom said it expects the
transaction to result in a substantial cash infusion and significant
overhead reductions.
In a press release Friday, HomeCom said a management group of Fimi
principals and other investors will purchase the units, which will lead
to the elimination of about 35 jobs.
HomeCom, a Internet application service provider, said actions to cut
employees and the reduction of related operational costs will improve
the company's cash flows "considerably." HomeCom seeks to achieve
profitability as soon as possible.
HomeCom named Tim Robinson to succeed Ellsworth. Ellsworth will serve
as the new chief financial officer of InsureRate. Following the
transaction, InsureRate will be operated as a stand-alone concern, the
company said.
Robinson previously served as chief financial officer and treasurer
for Tanner's Restaurant Group Inc. (ROTI).

Should be interesting. rod
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