Does Barmann have a hidden agenda?????
"If it looks like a rat…. Smells like a rat…. And taste like a rat, chances are, IT is A RAT!!!!!!!!"
I have been extremely surprised and appalled by the Providence Journal's blatantly biased and thoroughly irresponsible coverage of Log On America's IPO. It has become apparent that there is some kind of hidden agenda that has turned this small "local rag" into a vehicle for negative propaganda. Fortunately we live in an era where individuals have many efficient ways to obtain the true facts and are not reliant on such a "rag" to obtain facts on important deals.
In my earlier posting I responded to individuals that were attempting to smear the credibility of the Log On America's IPO. It was clear that these individuals neither had the facts, or if so, had some kind of personal vendetta against either the underwriter or the company itself. This is exactly why we must not rely on message boards for FACTS that we will base our investment decisions on. This is exactly the type of propaganda we expect to see on these boards, (along with some factual information as well). What is particularly disappointing is when a newspaper , posing as an unbiased source of information, takes on the message board approach of negative propaganda to achieve their agenda.
Barmann's article clearly sends a jaded and shaded view of Log On America by presenting facts that are out of context, omitting strong points about the company, and downright stating inaccurate information. I will take a moment to point out a few of these inaccurate statements presented in Barmann's article, followed with some important facts that should not be overlooked about this emerging internet and CLEC powerhouse.
To begin my point I will re-qoute some points from an earlier posting which intended to shed some light on the positive attributes of this deal.
Begin Quote from Stockguy
"Fact 1) The company is a strategic partner with Cisco Systems and Nortel. Also, LOA has Shastri Divakaruni and David Robert on its board of directors. Mr.
Divakaruni workes at Cisco Systems as a Director of at least two key divisions, including Director of Service Provider Marketing and Director of Broadband Fixed
Wireless Engineering. Mr. Robert has worked for Northern Telecom in various capacities, including Software Systems Engineer, Product Marketing Specialist, Sales
Manager and, currently, VP of Sales for Nortel Major Accounts. (My opinion: The fact that LOA is a strategic partner with the two technology powerhouses shows
that they are moving in the right direction, have access to cutting edge equipment and is poised to grow by leaps and bounds. Also, the fact that both Cisco Systems
and Nortel have key management on LOA's Board of Directors shows their support and belief that LOA is the perfect company to be involved with. The fact that
these companies are willing to invest their time, energy and key management in LOA, makes LOA a good investment to me.)
Fact 2)LOAX's vision appears to be to build a highly sophisticated network for phone, internet, video, audio, and cable TV programming throughout the North
Eastern United States. They appear to be well on their way and with the funds received from the IPO and the backing of Cisco and Nortel this should progress
rapidly. They already have been approved in RI as an authorized CLEC. For more info on these aspects see www.freeedgar.com. (My opinion... This is the right
strategy and the right goals for this type of industry)"
I believe the major point that our malicious friend is missing is that pre IPO LOA was a company that had established itself as a major player in the internet market. The IPO was intended to Launch LOA into the CLEC business full force and establish a foothold as a major player in this rapidly expanding market. The money is in, The stratigic relationships are there. I think that this is information that Mr Barmans readers would be interested in knowing. I am not sure how many IPO's happen in this local area but obviously this was not eventful enough to provide their local readership with a complete and unbiased review of this company's.
Beyond missing statement's and important factual information, I will finish this posting by pointing out a few parts of Mr. Barmann's article which are downright misleading.
Quote from Barmann
"The company was founded seven years ago by David R. Paolo, 31. At
the time, it was a two-line computer bulletin board, operating out of
Warwick. It specialized in selling classified advertising."
This is equivalent to Barmann stating that you may not want to take my posting seriously because when I was about 1 year old I wore a diaper and peed in may pants.
And probably most insulting to the intelligence of his readers is this Barmann "gem"
""Investors should be aware that buying stock in the company is very risky.
The company says as much in a prospectus it has filed with the U.S.
Securities and Exchange Commission.
''Our shares should not be purchased by an investor who cannot afford
the loss of his or her entire investment,'' the document states.""
What's the deal Barmann!! Statements such as these are made in every single companies prospectus that is filing for an ipo. Have you ever read one of these before? If the majority of investors focused on this and overlooked any positive attributes of a potential IPO (similar to what your article did) there probably wouldn't be any IPOs.
Well, I could likely go on but I believe in the intelligence of my fellow investors and realize that they will not fall in to such a week propaganda ploy.
Good luck to all,
Biff99
P.S. Beyond the question of the validity of Barmann's writing, What is he doing referring people on this board to his site. Could this be a ploy to increase the number of hits on his site?/ Using the popularity of a successful local deal to increase his banner advertising revanues??? You be the judge.
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