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To: campe who wrote (507)11/19/1997 3:20:00 PM
From: Brad  Respond to of 6654
 
GJC, As I understand, the "old management" group pretty much bailed out. They left things in bad shape to say the least.

Jack Arnold took over mainly because he was an investor and he knew many other investors and wanted to try to bring this company back to profitability. From what I understand, he hasn't even drawn any salary. But he seems committed to getting the job done.

So far, I think he has done a terrific job. You can also see why he has such an understanding of shareholders interests.

I think he intends to put together as strong a deal as he can possibly find. And he has mentioned that he wants Asset Value, Profitability, Stability and Growth Potential. Looks like a good list to me.

Hope that helps bring you up to speed.

Best wishes,
Brad