BGM-- This is the response i received from CNBC. No surprise here!
At least they acknowledged Cramer's remark and go on to categorize the ensuing interview as "more than fair". The analogy which this conjures up is that it's ok to take out a gun and shoot someone. as long as you are courteous and ask how he intends to get to the hospital afterward.
> have looked at a tape of the interview and I do not understand how
anyone can argue that it was not fair. Within the interview, Deeds was
asked at least five questions that were so open-ended he could answer
virtually any way he wanted. And, while Cramer's "frauduent" remarks took
about 1 ½ minutes, Mr. Deeds got nearly 5 minutes to respond. I have
absolutely no problem stating that CNBC treated Mr. Deeds as fairly as
possible, giving him every opportunity to respond to Mr. Cramer's
remarks, and doing so promptly. In addition, Mr. Deed's WAS offered a
chance to return to CNBC and he declined it. Frankly, had I been here, I
would not have made that offer. I think Mr. Deeds had more than ample
time to respond to what happened. The tape clearly shows Mr. Deeds was
asked the following questions:
1. "I want to start out by just letting you explain in your words exactly
what your company does." (I find it impossible to believe anyone can
consider this an unfair question. It clearly allows Mr. Deeds to respond
in any way he wants to Mr. Cramer's comments).
2. "And, you signed up what looked to be come pretty blue chip clients.
Is it easier to sign-up? It's a revenue-sharing business model, is that
the way this works?" (Easy question again)
3. A question as to whether WAVO's technology might be leapfrogged (3rd
chance for Mr. Deeds to sign his company's praises).
4. "When you issued the press release yesterday, did you expect your
stock to double?"
5. "Talking to some people who actually short your company's stock , they
were discussing with me 'push technology.' What they claim is the failure
of the technology to really be a success for consumers. Can you discuss
push technology with regard to your company and address what they (the
short sellers) are saying .. that a lot of people don't like it." (4th
chance, and an invitation to directly rebut short sellers).
6. "A balance sheet question: Many companies in your particular position
have a need to raise money to continue to build out whatever system it is
they're building out. What about your cash position right now? What are
your financial needs? Will you have to go to the capital markets to try
and raise more money?" (Please don't tell me you think this is not an
important issue for investors to be aware of).
7. "I heard you might be out of cash at the end of the first quarter. I
guess that's incorrect, judging from what you just said?" (Again, very
relevant, especially in light of Mr. Deed's answer that "There's a chance
we'd be looking to the investment community during the first half of next
year.")
8. "Wouldn't it be prudent for you to file to sell at least some of the
stock considering that you didn't expect it was going to double, and it
doubled?" (Actually, a question that let's Deeds off the hook. I would
have asked about PAST sales).
9. "Can you give us an idea of your business plan going forward, when you
expect to turn a profit, how you expect revenue growth .. what that will
average over the next couple of years?" (Talk about a SOFTBALL question!
Gives him a chance to talk about products, product pipeline, anything he
wants!)
mh< |
