geeze Suzanne, why do you waste so much energy
on Gordon and his crony Can'twell.
Can'twell was Gordon's little pumper and dumper.
Now what did or didn't Gordon achieve?
He like many other a business man had a business
model that he couldn't make work. He couldn't
finance it privately so he went to the markets where
pumpers like Can'twell & Hastings got buyers. When Gordon's
initial plans fell through in regards to
generating revenue specifically with Signature,
Gordon got financing with very unfavorable terms,
and the self fulfilling dilutive prophecy became the
reality with which we're all familiar.
Press Releases to promote the prospects and potential
of a company during 1998, 1999, and the first few
months of 2000 sent buyers into a tizzy on almost
every tech company with prospects of riches. The
glimmer of a deal, or news that didn't mean anything
sent many a major, minor, real, and imagined company
"to the" proverbial "moon" or conversely down the toilet.
Thus Gordon and his pump and dump gang were hardly unique
by any means. In terms of stocks that really peaked
like nettaxi at $36 now at 22 cents, Gordon wasn't
even very good at creating price runs...if that was
his supposed desire.
No matter what Gordon tried, he didn't succeed.
Did he purposely fail? Can't say yes, can't say no.
There were "deals" made, but none were executed.
Again Gordon made the deals, but did he just not
know how to make them work?
Would Gordon be any better or worse than Jeff Bezos
had Gordon the same access to financial markets to run
up billion dollars in debt?
If Bezos, "Times Magazine- Man of the 1999 Year", ever
makes a profit will the interest rates on the
amassed debt ever allow that debt to be paid off?
If one spends $2 billion to make $340 mill is
that any better than someone who spends $6 mill
to make $120 thousand?
Who is in a better position to get back to fundamentals-
the company with $1.66 bill in debt or the company
that has $5.8 mill in debt?
The "new" economy sure has had a strange way of
assessing both value and blame, but in my opinion
the people who promoted the Amazons, Pet.coms,
Pricelines, ValueAmericas, Dr.Koops, Mvp.coms,
and too many others to imention are infinitely more
crooked than the penny players who either may have just
been failed inept business men like Gordon, or purposely
bi-polar traders/manipulators like Gordon &
Bernie's lap dog Can'twell..
Anyway, enough energy wasted on my part on this sordid
past....I'm going to wait for the following items
to transpire as they pertain to tigi.
1). Release of amended 8-k with audited financials
of Affinity through the first 3 quarters of 2000
due mid to late February
2). News regarding resolution, extension or reduction
of loan to LT
3). Release of 10-K due by end of March showing
Affinity's month of December revenues as part of
tigi's balance sheet.
4). Release of first quarter 10-q by mid May showing
combned revenues of the merged companies.
So I'm here to, at least, May 15th. Any news of
"deals" released prior to items 3 & 4 really
are meaningless to me until those deals generate
documented revenues and earnings on SEC filed
balance sheets. Again I reiterate that Roix should,
at least, defer any and all commissions no matter how major
or minor until AFTER there is a filing on record
demonstraing how hard he has been working making
"deals" that generate revenues that enhance shareholder's
share value.
The best hope is that Roix and team will transform
tigi into a company whose stock trades on
hard assets and earnings rather than emotionally
on the latest PR (public relations) and stories ,
to paraphrase on the article about Amazon below.
Talk about grotesque, read Bezos's attempted
severance conditions...buying silence as highlighted
in this article about Amazon.
z
"Amazon.com to trim unprofitable products"
Fri Feb 02 14:17:00 EST 2001
By Scott Hillis
SEATTLE, Feb 2 (Reuters) - Amazon.com Inc. , the
online retailer that sells everything from books to
hammers to barbeques, will stop selling unprofitable
items in order to make good on its promise to climb
out of the red this year, a spokeswoman said on Friday.
The Seattle-based company, which is cutting 1,300 jobs, or
15 percent of its staff, also said it was backing down on a
"non-disparagement" clause in an agreement laid-off workers
were told to sign in order to collect a larger severance
package.
In a company-wide memo first reported by the Wall Street
Journal, Chief Executive Jeff Bezos said Amazon would cut back
on selling unprofitable products, company spokeswoman Patty
Smith confirmed.
"Jeff did send out this e-mail to the company about plans
for the future and how we get to profitability and all those
good things," Smith said.
"It's taking a more creative approach to selling items on
our site," Smith said. "It doesn't make sense for us to
sell, say, $2 items individually, but if we bundle those
items in bundles of 10, it makes more sense."
Bezos did not detail which products would be cut, but
analysts have criticized the company for expanding beyond
its core business of books, music and video -- items for
which it can turn a profit -- into bulkier goods that
are costly to stock and ship.
"It does seem like the company sells an awful lot, and
considering the environment we're in right now it's not
the most illogical thing to do to cut down on those items,"
said Adam Hamilton, an analyst with McAdams Wright Ragen,
a Seattle based brokerage.
Shares in Amazon fell $1-5/16, or 8.1 percent, to $14-15/16
on Friday, continuing a slide that began after it said in
its quarterly financial results on Tuesday that it would
turn a profit by the end of this year, but that sales
would fall sharply below previous estimates.
To help reach its goal of making money after years of
losses, Amazon said it would cut 15 percent of its staff,
largely from a customer service operation in Seattle and a
distribution center in Georgia.
But Amazon, which has grappled with labor issues in Seattle
as some workers there try to unionize, found itself embroiled
in controversy over a clause in the severance agreement that
would have barred laid-off workers from talking about the
company to the media and others.
Those who refused to sign would only collect two weeks
worth of severance pay, while those who did could get up
to 12 weeks and a $500 bonus.
The move sparked an outcry among workers and local union
organizers, and prompted front-page headlines in Seattle
newspapers.
Now Amazon has backed down on that issue, saying its
hourly employees won't have to agree to that clause,
although salaried workers might still have to.
"In retrospect, upon hearing from employees, they have
enough to worry about right now and we didn't want to
add to their concerns," Smith said.
"It was an easy change to make, and we heard their
feedback loud and clear," Smith said.
Analysts welcomed the move as smart public relations.
"I'm no expert on serverance contracts, but that seemed
kind of weird to me, to the extent that you were wondering
what are they trying to hide here," Hamilton said.
"With a stock that trades very emotionally on the
latest PR (public relations) and stories rather than
on hard assets and earnings, I was glad to see that announcement."
Rtr 14:17 02-02-01 |
