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Non-Tech : Littlefield Corporation (LTFD) -- Ignore unavailable to you. Want to Upgrade?

To: T.K. Allen who wrote (6530)	1/20/1998 12:38:00 PM
From: JakeSki	Read Replies (1) \| Respond to of 10368

I dont think that bingo and gaming are mutually exclusive. We just need to know what the plans are. I have a hint about the bingo expansion plans (1 per week this year, etc.), but I don't know about the VGM plans. The information I got this morning from MikeF's people goes something like this: Mr. Wilson did not want to run a big company, so he wanted to step aside. But since he has %95 of his wealth tied up in BNGO stock he had a problem. Apparently they had lined up buyers for his stock, so he resigned. Over the weekend the deal fell through (on legal grounds), so he said 'since I have all this money tied up in BNGO, I might as well stay on and run things'. He also told me that the bingo hall expansion plans are in place, and that they are planning on adding 1 bingo hall per week this year. This is a bit hard for me to swallow: 1. The stated goal of BNGO was to 'consolidate the fractured bingo hall market'. To me, this sounds like they wanted to take a bunch of small companies and make a big one. If Mr. Wilson didn't want this to begin with, then why didn't he bail out a long time ago? 2. If this is the goal, and Mr. Wilson is not up to the task, then bringing Corky on is absolutely the right thing to do. There mission for BNGO sounds exactly like what he did with the pawnshop stuff. 3. The PR releases were so incredibly mis-handled that I think the power-struggle idea has the most merit. But come on - do you really have to air the dirty laundry! Has anyone else tried to talk to Mike F? I am not sure how much credence to give to the information that comes out of that office given the 'blowout' and 'above 6 1/2' comments made before the latest announcement. We really need to hear from the company directly. -- George