Business Wire Falls for April Fools Prank, Sues FBNers Message Board

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Pastimes : Business Wire Falls for April Fools Prank, Sues FBNers

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To: Jeffrey S. Mitchell who wrote (3757)	9/6/2001 4:11:05 PM
From: Bill Ulrich	Read Replies (1) of 3795

Yesterday's SF Chorn: "Business Wire owner relishes success: Lokey predicts 'fairly decent' profit despite slump" sfgate.com Lokey is always good for a few snips. (snip) "It's a good business, as the view from Lokey's office attests. The Securities and Exchange Commission essentially guarantees the two wires a steady stream of revenue by mandating that companies disclose information to the masses and not just to favored investors. "We're like a mortician. They need us. We're not going to go away," Lokey said. He said his company had $150 million in revenue last year. It will be down slightly this year, and profits will be cut in half. "Instead of being obscene, it'll be fairly decent," he said." (/snip) (snip) Lokey claims his service's advantage is a team of editors who keep the press releases relatively error-free. He also keeps his price slightly below PR Newswire's.(/snip)

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