Well, I suspect one Geoffrey Tirman was a topic of conversation.(ggg) I thought the following was interesting from Mr. Tirman's filing with the SEC. It sounds like you and me just got ourselves one hell of a shareholders' advocate.
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ITEM 4. PURPOSE OF TRANSACTION.
The securities covered by this statement were acquired by for the
purpose of investment. However, the Reporting Persons are concerned with
the poor performance of the Issuer's stock and, accordingly, have advised
the board of directors of their concern and informed it that they expect
the board to undertake measures that will ensure the Issuer's true value is
reflected in its share price, including the following:
(1) Consider and develop strategic policies and proposals intended to
enhance stockholder value in the long or short term including, without
limitation, (a) proposals for sale, merger or other strategic restructuring
of the Issuer, (b) sale of substantially all of the Issuer's assets, (c)
divestiture of certain product lines in order to focus management's efforts
on the remaining product lines, or (d) a purchase by the Issuer of shares
of its stock, either through a tender offer or on the open market.
(2) Engage advisors to advise and assist the board of directors,
which advisors may include, among others, an investment banking firm that
will pursue strategic combinations for the Issuer.
(3) Review the performance of the senior management, and make such
changes as are necessary to take advantage of available opportunities and
to meet challenges in order to keep pace with changes in the industries
that the Issuer serves.
(4) Utilize the Issuer's resources in a more efficient manner in an
effort to grow the Issuer's earnings per share to match its growth in net
revenues.
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You gotta love this too:
Following is a list of the transactions by the Reporting Persons in
Common Stock within the past sixty days:
DATE TRANSACTION NO. OF SHARES PRICE/SHARE
2/26/99 Purchase 2,500 $1.249
3/10/99 Purchase 37,500 $1.126
3/12/99 Purchase 5,000 $1.155
3/15/99 Purchase 48,600 $1.155
3/16/99 Purchase 31,000 $1.0625 |
