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Strategies & Market Trends : Value Investing

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To: blankmind who wrote (14213)	3/31/2002 7:49:59 PM
From: MAELING	Read Replies (1) of 78744

For all you SOFN Phreaks - there is one thing you should know. Ronald I. Simon sits on the board and functioned as CEO and CFO last year. He's a serious GREATER FOOL, and a destroyer of capital. I would run, not walk from any company with which he is associated. His background is seductive - degree from Harvard, PhD from Columbia; presided over the liquidation of Henley Group. Check out his record since then. I believe that everything he has touched has fallen into the sewer. If you want to read something that's unique, check out the 8-K filed by Western Water Corp. last fall containing a letter from him. It's astounding because he's the one who single-handedly destroyed that company by liquidating its assets at a fraction of intrinsic value. He extracted big salaries and awarded himself stock options that he sold to unsuspecting shareholders in the public markets. After cratering the company as CFO and a Director of the company, he resigns and writes this letter saying that it should be liquidated. I assume that he's trying to distance himself from shareholder lawsuits. Reminds me of the kid who murders his parents, then pleads for mercy from the Court because he's an orphan. Consider yourself warned.

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