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Microcap & Penny Stocks : FAMH - FIRAMADA Staffing Services
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To: Brad who wrote (2803)2/5/1998 9:49:00 PM
From: Richard V Davis  Read Replies (1) of 27968
 
Brad;

In the interest of actual information as opposed to (reasonable) hope I feel that I must respond to your post. If you read my post of earlier this evening you know that I am going to get out of FAMH tomorrow. I listed my reasons. I am not trying to blast the stock (or by inference stockholders). I am trying to be rational about holding this company.

Financing a talk television show can in no way be seen to raise awareness of FAMH. Do you believe that people that hire temporary staff are going to be sitting around listening to this guy talk? Are people going to read the credits and say "Oh yes, that's the company I will hire my admin assistants and underwirters from!"? Of course not.

No stretch of logic or reason can show me that sponsoring a speculative television venture is consistent with growing a temporary staffing company. Just can not be so. Something else is going on here. Ira has a great personal affection for Mr. Downey; he showed me the autographed photo that sits on his desk and said "Mort is a great guy; my best friend". Friends are great. I just have an issue with the man spending corporate dollars to give his friend a television show.

I am terribly disappointed. I had great hope for this company and my investment therein. I visited the office a couple of times and actually gave (meaning free of charge) considerable advice towards the development of an IT placement practice. Had they chosen to spend half a million dollars to build an IT practice they could have generated a gross of at least 5 million in this year; at profits in the 70% minimum range. If you quesiton my figures read the analysis a couple of weeks back. They have contacts in the company, the administrative and financial structure and all that is required is a bit of effort and a bit of courage to step into another line of THE SAME BUSINESS. Instead capital is going to be expended to produce a television show. Great for the president's and CEO's egos, not very good for the stockholders.

I have tried not to be negative or positive in my posts on FAMH. I have tried to be factual and neutral. Well those days are done. My opinion is that this is bone stupid, poorly considered and idiotic. Certainly this could drive the stock up to a couple of dollars but I do not invest for the quick profits. I want to own companies that are well financed, well managed with a clear idea of their market and direction. The sum of my experience with FAMH is that it has none of those qualities.

Sorry to go on so long. As it is probably apparent, I am unhappy with today's news. All opinions are my own.

Rick
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