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To: Alan Cole who wrote (6561)1/20/1998 10:15:00 PM
From: Max Fletcher  Respond to of 10368
 
If what you were told is accurate - Wilson will be resigning (eventually) because the co has grown beyond his management abilities, and he's now simply dealing with equity issues - this may be good news in the larger picture. As we all know, company founders often don't have the same skills needed to take a company to another level, and for this reality to be dealt with at this stage in BNGO's development may be a blessing for shareholders. Again, we have no idea what's really going on, but if this scenario is accurate we may be back on track before too long. IMO Max



To: Alan Cole who wrote (6561)1/20/1998 11:03:00 PM
From: jimmy  Read Replies (1) | Respond to of 10368
 
Greg Wilson, who had resigned because the company is growing beyond his management abilities, will be leaving after he deals with his equity

So we will have to endure yet another resignation event? Oh goody!
And does that mean that in the meantime AB&G will be enjoying inferior management while Wilson arranges his buyout?

Why not just buyback a portion of his shares. At these prices, it would be an astute move. And that should clear the way for Wilson to move out of the ceo/president role; he could then afford to stay on as a director.

Why is he not staying on only as a board member but as CEO? Because he wants a degree of control as long as he has such a large equity position

more likely: ceo/president collects a nice, steady paycheck; directors do not.



To: Alan Cole who wrote (6561)1/21/1998 12:58:00 AM
From: hoper  Read Replies (1) | Respond to of 10368
 
This really shows how inept this management team is. A CEO who is a lawyer and he resigns not knowing if his shares are liquid. I'm long and am staying till 4th qtr. results are out. The style and abilities of these men would not lead me invest anymore in this company until results are evident.

Always Hopeful

Hoper