Betty - I do not even use a pen or paper. I can not write that fast. <VBG>.
I copied this off the Company's web site. I must of missed it as I always go there to see what is new. This is from "One-way". Jim
"November 22, 1996
Through the effort of numerous California corporations and the Technology Forum, Proposition 211 was overwhelmingly defeated. However, it is important to note that the underlying conditions that led to Proposition 211 continue to exist and that Proposition 211 could, in some form, arise again unless real reform is obtained.
From my vantage point, the real issue is the growth and spread of market manipulation by stockbrokers, especially within the high tech industry. However, had the California electorate passed Proposition 211, all California-based, publicly-held companies would have been penalized, not just those few stockbrokers needing to be stopped
from hyping or otherwise manipulating stock prices. My opinion is that, although most of the stockbrokers out there are truly fair and honest, there are a few unethical stockbrokers who misinform the investment public and then attempt to take advantage of their malfeasance. These unprincipled brokers try to spread unfounded rumors or get insider information. Their principal purpose is to manipulate the price of the stock (up or down) and to make commissions on trades. They do many things in order to get insider information. For example, they show up at the company unannounced; they go through the company's trash dumpster for information; they call the company saying they are a shareholder; and, they call claiming to be editors of magazines and industry analysts. Had Proposition 211 been focused on stopping the unscrupulous behavior of stockbrokers, it most assuredly would have passed and I would have supported it.
With that in mind, I am currently in the process of putting together a consortium of publicly-traded companies that will band together to get the attention of NASDAQ and the SEC and press for the appropriate reforms. Something must be done to halt the foul play by stockbrokers and encourage the spirit of free enterprise and democracy.
Sincerely,
Bob Root
CEO and President" |
