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Pastimes : Double Zero
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To: Janice Shell who wrote (528)10/21/1997 10:51:00 AM
From: Done, gone.  Read Replies (1) of 4295
 
TED's Top Ten Mistakes.

As told by lowtech on another thread:

10. Claiming FBN has a automated solution, while in reality they do not. FBN only has a automated assisted solution.

9. Spouting off about how he planned to be at full capacity in 1998 and have over 1 employee, which drew immediate criticism from the WSJ, the first signs of credibility problems.

8. Saying that FBN would have $50 trillion in 1998 with no people and $100 trillion in reves. in 1999. We assume FBN will be at full capacity in 1999 therefore, they will have 2 employees. This shows little growth between these two years.

7. Announcing Contracts in a manner which would lead investors to believe that when a big name was mentioned "ALL" divisions of that company's code would be converted by FBN. We know that this is not true.

6. Not including any information about the number of lines that would be converted in each contract.

5. Being very smug at the C.R. Conference in N.Y. and announcing how many people he did not plan to hire each week and estimating how much code they could convert, not even thinking that the clients may not be able to deliver complete sets of code. - These comments also drew further criticism from Briefing.com and MANUAL, causing more credibility problems.

4. Selling thousands of his own shares prior to releasing information that could cause the stock price to go down.

3. His shareholder letter, in which he does not address the private placement issue that had made many investors upset, and then casually throwing out the fact that Q3 numbers will be less than expected. - this is what you call trying to fix one blunder with another

2. REG. S. >>> REG. S. >>> REG. S. >>>> Jesus Christ ! someone please tell this guy to take a course in Investment Banking. He needs to learn that a Reg. S. offering is NOT the only way to raise money.

1. Thinking that to be a premier Y2K company you need to have zero employees. I bet he'd like to sign some payroll checks while people sit around waiting for the clients to gather up all their code.

Bounced Czech
(FBN - Conclusions.)
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