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

To: Mr. Pink who wrote (14822)	2/9/2001 12:57:30 PM
From: Cube	Respond to of 18998

Welcome back dear friend. The flock has missed you. Cube

To: Mr. Pink who wrote (14822)	2/9/2001 9:51:33 PM
From: Kevin Podsiadlik	Read Replies (2) \| Respond to of 18998

Beg to report that an old battle of yours may be re-igniting. This from Herb Greenberg: Just Askin: Actrade (ACRT:Nasdaq - news - boards), a New York company that provides business loans that are the equivalent of postdated checks, was the target of a tug of war between shorts and longs a year ago and a few years ago, regarding such issues as revenue recognition and the backgrounds of the company's top executives. The stock fell, the shorts left and the stock subsequently rose. Then fell. Then rose. (I once even mentioned that its former director of investor relations became an analyst who issued a report on just one company. Can you guess which one? Yes, Actrade!) The latest: A few weeks ago, Actrade decided it needed new management for "the new millennium." Among those hired was David J. Askin, who was named executive vice president of external affairs. According to a press release, "Mr. Askin, whose vast background in financial services and the capital markets includes organizations such as Daiwa Securities, Drexel Burnham Lambert, Moody's Investor Services, and Merrill Lynch, will be focused on increasing Actrade's penetration within the investment community and expanding its business relationships across a wide variety of industry segments." Investors might want to turn to the 8-K for more on Askin's background. According to the document, he also ran Askin Capital Management. Ring a bell? For those old enough to remember (heh-heh), that's the same Askin Capital that in 1994 lost most of the $600 million invested by corporations, pension funds and wealthy families in its two principle funds, Granite Capital and Granite Partners. Those same funds, along with Askin's Quartz Hedge Fund, filed for bankruptcy in the big pre-Long Term Capital blowup. The crowning moment in a guy's career and the company doesn't mention it. (So I thought I would.)