LOCK, Ken , you did warn others weeks ago...
"Company officials couldn't resist the spotlight after the massacre in Littleton, Co., making their pitch to the Wall Street Journal and NBC television. But they did make an effort to seem a little humble about cashing in on a tragedy: "I would not want to capitalize in any way on what happened but the tragedy points up the need to keep guns away from kids," Saf-T-Lok prez Frank Brooks told the Wall Street Journal. Hmmm, let's see. Locks wouldn't have done much good on guns the teens had bought themselves or gotten from friends. Nice try, Frank.
Meanwhile, without a quick infusion of cash, Saf-T-Lok may be closing its doors, according its annual report filed with the SEC. The company has already laid off almost its entire work force, while those who remain have deferred compensation. Doesn't sound like the company will be meeting last year's production goals of 10,000 locks per week. Even if there is a turnaround, it will be a long haul for investors. The number of Saf-T-Lok shares outstanding almost doubled in 1998. "
scouser |
