Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Anthony@Pacific who wrote (11926)	11/7/1999 1:38:00 PM
From: peter michaelson	Read Replies (1) \| Respond to of 18998

The following statement is furnished to the holders of the Class A CommonStock, par value $0.10 per share (the "Class A Common Stock"), of Bel Fuse Inc.("Bel" or the "Company"), a New Jersey corporation with its principal executiveoffices at 198 Van Vorst Street, Jersey City, New Jersey 07302, in connectionwith the solicitation by the Board of Directors of Bel of proxies to be used atBel's Annual Meeting of Shareholders. The Annual Meeting will be held at theSheraton Newark Airport, 128 Frontage Road, Newark, New Jersey 07114 on Friday,June 11, 1999 at 2:00 p.m. This Proxy Statement is also furnished to the holdersof Bel's Class B Common Stock, par value $0.10 per share (the "Class B CommonStock") for informational purposes. Holders of Class B Common Stock are notentitled to vote at the Annual Meeting in accordance with Bel's Certificate ofIncorporation, as amended.

To: Anthony@Pacific who wrote (11926)	11/7/1999 1:44:00 PM
From: peter michaelson	Respond to of 18998

BELFA, board controlled by father, uncle and son on staggered terms, and old cronies. NOMINEES FOR DIRECTOR FOR TERMS WHICH WILL EXPIRE AT THE 2002 ANNUAL MEETING DIRECTOR NAME AGE SINCE BUSINESS EXPERIENCE ---- Elliot Bernstein* ....... 75 1949 Chairman of the Board (June 1992 to Present) and Chief Executive Officer of the Company; President of the Company (prior years to June 1992). Robert H. Simandl ....... 70 1967 Secretary of the Company; Practicing Attorney; Member of the law firm of Simandl & Gerr (January 1992 to January 1995); member of the law firm of Robert H. Simandl, Counselor of Law (prior years). DIRECTORS WHOSE TERMS EXPIRE AT THE 2000 ANNUAL MEETING DIRECTOR NAME AGE SINCE BUSINESS EXPERIENCE ---- --- -------- ----- ---------------Howard B. Bernstein* .... 73 1954 Retired.John F. Tweedy .......... 53 1996 Director of Public Relations of GlobeSpan Semiconductor Inc. (supplier of semiconductor integrated circuit products) (January 1999 to present); Director of Corporate Communications of Standard Microsystems Corp. (supplier of semiconductor integrated circuit products) (July 1995 to January 1999); Independent consultant (November 1994 to July 1995); President and Chief Executive Officer of NetVision Corp. (developer of computer networking products) (November 1993 to October 1994); Independent Consultant (June 1993 to November 1993); Corporate Vice President, Systems Engineering, of Standard Microsystems Corp. (1988 to June 1993). DIRECTORS WHOSE TERMS EXPIRE AT THE 2001 ANNUAL MEETING DIRECTOR NAME AGE SINCE BUSINESS EXPERIENCE ---- --- -------- ----- ---------------Daniel Bernstein* ...... 45 1986 President (June 1992 to Present) of the Company; Vice President and Treasurer of the Company (prior years to June 1992); Managing Director of the Company's Macau subsidiary (1991 to Present). 3 DIRECTOR NAME AGE SINCE BUSINESS EXPERIENCE ---- --- -------- -------------------- Peter Gilbert .......... 51 1987 Chairman and Chief Executive Officer (January 1997 to Present) and President and Chief Executive Officer (prior years to December 1996) of The Gilbert Manufacturing Company, a division of Larsdale, Inc., Boston, Massachusetts (manufacturer of electrical components). John S. Johnson ........ 69 1996 Independent consultant (April 1993 to Present) for various companies, including the Company (during 1995); Corporate Controller of AVX Corporation (manufacturer of electronic components) (1978 to March 1993).- ----------* Messrs. Elliot and Howard B. Bernstein are brothers. Daniel Bernstein is Elliot Bernstein's son and Howard B. Bernstein's nephew.

To: Anthony@Pacific who wrote (11926)	11/7/1999 1:50:00 PM
From: peter michaelson	Read Replies (1) \| Respond to of 18998

BELFA - Bernstein family holds only 20% of Class A, and less than 20% of class B. They received options for 50,000 shares of stock last year. Salaries in 350k range. Dimensional Fund held 7.5 %. Total shares Class A = 2.6 million Class B = 2.6 million also.

To: Anthony@Pacific who wrote (11926)	11/7/1999 2:02:00 PM
From: peter michaelson	Respond to of 18998

In August Bel Fuse acquired 5.7% of Ault Inc.'s stock. None reported since then. At latest 10Q, (6/30/99) Belfuse had $16 million cash, $48 million of inventory and receivables, and only $14 million of current liabilities, or any liabilities for that matter. 5.2 million shares - price of ClassA = $42, Class B = $36 Market Value including debt = $200 million range. Revenues during first 6 months of 1999 = $60 million, pretax operating profit = $11 million, $6 million same period last year. Strip out the cash and optimize the working capital, you have about $150 million net capitalization, on maybe $20 million of smoothed operating profit.

To: Anthony@Pacific who wrote (11926)	11/7/1999 2:04:00 PM
From: peter michaelson	Read Replies (1) \| Respond to of 18998

On October 2, 1998, the Company acquired the manufacturing assets,primarily consisting of inventory and fixed assets, of Lucent Technologies,Inc.'s ("Lucent") signal transformer product line in exchange for approximately$27 million in cash plus acquisition costs of approximately $500,000. Under theterms of the agreement, the Company, among other things, will continue to supplycertain of Lucent's telecom magnetics requirements up to forty-two months. TheCompany is moving the majority of the manufacturing for this business to theRepublic of China. Lucent and the Company entered into a Transition ServicesAgreement whereby Lucent has agreed to provide contract labor and transitionalservices to the Company for an agreed price until the earlier of September 30,1999 or the date on which Signal Transformer Manufacturing operations and thepurchased assets are relocated.