Columbia Capital Corporation-Computerized Banking (CLCK) Message Board

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Microcap & Penny Stocks : Columbia Capital Corporation-Computerized Banking (CLCK)

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To: marty009 who wrote (547)	8/25/1998 1:33:00 PM
From: Jeffrey L. Henken	Read Replies (3) of 1020

Thanks for the heads up Martin. I know this looks awful. In all honesty I think everyone including Baetz and Gallant think it is too. I have been on the phone on this situation already. Baetz and Gallant are not being investigated. While I personally don't think it is a very good idea to try and make money from people who are bad credit risks there is nothing illegal about trying. Obviously some of these people did not pay off their debts. It is not however why the bank failed. If you ask me the reason the bank failed is right here in this paragraph: The bank's chairman and president paid themselves a total of more than $9 million in connection with the credit-card program in the first half of 1998, the findings said. The two officers left the bank when the FDIC took over. Bank chairman Mattar couldn't be reached for comment despite three calls to his Deerfield Beach and Boulder, Colo., residences. It's funny isn't it that Baetz and Gallant are right there ready to answer questions but these two officers from BestBank are not? The two principals of CLCK may be guilty of an error in judgement here but they have done nothing illegal. They are not being investigated for anything and they have no reason to believe they will be in the future. I have to say that there are some inaccuracies in this story and because of that it paints a pretty bad picture. I think it's important to remember that BestBank was closed several weeks ago. It's also important to remember that this is not the first negative article to attempt to point a finger at Baetz and Gallant. All investors are free to buy or sell their shares in any investment at any time. Here are some thoughts to keep in mind. The stock is holding up pretty well. CLCK makes it's money by processing credit/debit cards both on a transaction and monthly fee basis not from issuing credit cards. Personally, I never sell shares into bad news. To me this is simply another buying opportunity because I believe there will be plenty of good news coming soon. Regards, Jeff

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