Dear Dave,I have decided to declare tomorrow, officially Jim Connors Day.In honor of his proven abilities to make those tough decisions which would turn this company around. I believe his accomplishments can be summed up best with this statement in the 8K,which we know was filed because accounting bills couldn't or wouldn't be paid,and I quote, "ConEco said it estimated that it would report a total loss of $11 million for the year ended December 31, 1997. The loss is related primarily to a second quarter write-down on assets totalling about $4.6 million.This is compared to a loss of approximately $4.2 million for the fiscal year ended December 31, 1996."
This day should be set aside in the spirit of his accomplishment,as well as earlier accomplishments announced, on Mar 13 1998 "James J. Connors, Jr., President and Chief Executive Officer of Consolidated Eco-Systems, Inc., said, "We are saddened to learn that Dollar Bank has taken this action against 7-7. We understand that 7-7 is currently investigating its rights and remedies in connection with this matter."" ,this day should be remembered.
We began to see the fruits of Jim's labor when he told us on Oct 14th,1997, "We're shocked by this decision and strongly disagree with Nasdaq's removal of the listing of our stock from its SmallCap Market. We intend to pursue aggressively the appeals process to which we are entitled under Nasdaq rules." Connors continued by adding, "We believe that Nasdaq's decision is primarily based on the history of this Company and that it is unfair to current shareholders."
To put his accomplishments in context(and in his own words) and at the forefront in our minds,let us think back,just a short time ago to Aug. of 1997,with Jim's announcement pertaining to adding a second shift at 7-7,and again I'll quote,as Jim said it best on Aug.5,"We are glad to see this capacity increase at 7-7. Increasing sales for the 7-7 regional recycling facility is a significant part of our overall 1997 marketing strategy." (no problems here-the smell of sweet success)
From an earlier PR on the same day,Jim saying,""Our Industrial Services Division is having a great year. Increased sales in this Division is part of our overall 1997 marketing strategy."(kicking butt-moneys rolling in)
Throw in Jim's statement on Aug. 8th 1997,"We are very excited by our success in this new market. It is our belief that the combination of mature industrial and commercial real estate markets, favorable regulatory clean up programs, and new or enhanced clean-up technologies provides many potentially high-margin Brownfields opportunities for multi-service firms such as ours." (beautiful high margin,untapped potential,go Jim!!!))
Clearly as one can infer, from these announcements we were right on track for a great year. Easy money-rolling in the dough,hitting the debenture holders right where it hurt....
But,I was still worried about those debenture holders and Jim calmed me down,told me in a release on the Aug. 8th,"We are very pleased with the settlement which we believe is indicative of the recent strength of the company's stock.We believe that this settlement provides us with the ability to begin negotiations to resolve all other outstanding debenture issues." (Man, did I feel good,everything going great)
So Jim thankyou, you have shown us you leadership skills and apparently they aren't worth sh*t.What the f*ck happened?..DD
PS: to give credit where credit is due Jim, you do have excellent shareholder manipulation skills..Perhaps it's time for a career change? |
