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 : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: peter michaelson who wrote (10458)	4/28/2000 1:55:00 AM
From: peter michaelson	Respond to of 78525

Probably covering old ground here but just in case..... March 6 13D "It is PPM's understanding, however, that Wasserstein has been working with the Company since early 1998. PPM accordingly believes that the Company's press release was misleading, disingenuous and did not constitute a "concrete" response to PPM's February 22 letter to the Company. Moreover, given that the Company has experienced over a 50% drop in its share price during Wasserstein's tenure in that its stock price has fallen from $11- 9/16 per share on December 31, 1998 to close on March 2, 2000 at a price of $5- 11/16 per share, PPM has no confidence at all that Wasserstein will help enhance the Company's shareholder value. " tenkwizard.com March 21 13d "Item 4. Purpose of Transaction. ---------------------- In Amendment No.2 to its Schedule 13D filed on March 7, 2000, PPM insisted that the Company respond to its as yet unmet requests no later than March 17, 2000. To date, however, the Company has failed to address any of those requests. In fact, it is PPM's understanding that the Company now has terminated or suspended its share buy-back program, which was the only concrete step the Company had taken to increase shareholder value. PPM accordingly has determined to nominate and to solicit proxies for the election of three new independent directors for election at the Company's next annual meeting in lieu of any incumbents or other nominees proposed by the Company. PPM is now in the process of evaluating possible candidates for the Company's board and intends to amend its Schedule 13D again in the near future to identify its proposed candidates. " tenkwizard.com