COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00130

-87.0%

Nov 7 11:47 AM EST

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To: Diana Schilke who wrote (18081)	1/5/1999 2:00:00 PM
From: David Lawrence	Read Replies (1) of 22053

That was one expensive ego.... Dennis Hayes has been alternately cursed and hailed for his role in founding the company and steering it from upstart to dominance--and then into trouble. Yet in bankruptcy court, Hayes had made an impassioned plea that he be permitted to reject takeover bids that ranged up to $140 million. As the prime shareholder, he would have been the prime recipient of those offers, but he wanted the company to remain independent and in Georgia. When you lie down with dogs...... Hayes Corp. owes creditors about $42 million. The company has several hundred creditors, although the bulk of the debt is owed to NationsCredit and a few large suppliers like Lucent Technologies, which says it is owed $4.8 million, and another chip maker, Rockwell Semiconductor Systems, which alleges a debt of $2.8 million. Didn't Paul Allen have a pretty big piece of them, or was that a different outfit? Anyway, credit where credit is due: USR blew them away.

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