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To: Max Fletcher who wrote (6856)	1/28/1998 10:42:00 AM
From: jimmy	Respond to of 10368

>>>It is my understanding there is news this morning on Dow Jones The title is: "Would the real president of American Bingo & Gaming Corp. please stand up?" I won't post the entire article since I may be violating some copyright. But it basically repeats what we have already been told about Logue's brief tenure as CEO/Pres. Wilson was negotiating the sale of most of his stock. On friday he indicated that it was a done deal. somebody issued the press release. a few hours later Wilson changed his mind after talking to the lawyers. Wilson won't say what happened. Some excerpts: 'No one was more upset by the blooper than Mr. Wilson. "The idiot in my office released the press release when it shouldn't have been released," he says. "It was a very big error. I'm extremely upset by it."' 'The mix-up occurred because Mr. Wilson, 44, had made it clear that he would be quitting as soon as he sold one million of his family's 1.6 million American Bingo shares to unnamed investors. Negotiations had been going on for some time.' "I wish I could explain it better than what the reality is."

To: Max Fletcher who wrote (6856)	1/28/1998 10:44:00 AM
From: Nittany Lion	Read Replies (1) \| Respond to of 10368

Here it is: Dow Jones News Service via Dow Jones By Jonathan Weil Staff Reporter of The Wall Street Journal's Texas Journal Would the real president of American Bingo & Gaming Corp. please stand up? While competitors commonly battle each other via press release, the San Antonio company stands apart for issuing dueling pronouncements about itself. On Jan. 16, a Friday, the operator of charitable bingo halls announced that founder Greg Wilson "effective immediately" had resigned as president, chief executive officer and director "to pursue other endeavors." His replacement as president and CEO would be Courtland Logue, already the company's chairman. Then, on Monday, the company revealed in another release that Mr. Wilson remains at its helm, "contrary to a previous report." Added American Bingo without explanation, "We regret the error." No one was more upset by the blooper than Mr. Wilson. "The idiot in my office released the press release when it shouldn't have been released," he says. "It was a very big error. I'm extremely upset by it." As for what might happen to the unfortunate employee, he says "that hasn't been resolved yet." The mix-up occurred because Mr. Wilson, 44, had made it clear that he would be quitting as soon as he sold one million of his family's 1.6 million American Bingo shares to unnamed investors. Negotiations had been going on for some time. Most everyone at American Bingo, including Mr. Logue, was convinced on the Friday that the deal was all but done. Out went the press release, though on whose authority, no one is sure. A few hours later, after consulting with the legal department, Mr. Wilson informed colleagues he wouldn't be getting rid of the stock after all, for reasons he declines to reveal. Confusion isn't exactly the image American Bingo aims to project. The faux paus "makes us look not very good and not very intelligent," Mr. Logue admits. "I wish I could explain it better than what the reality is." (END) DOW JONES NEWS 01-28-98