To: Jane4IceCream who wrote (3342 ) 2/16/1998 8:57:00 PM From: Brad Read Replies (4) | Respond to of 27968
To ALL: Today I visited the FAMH office in Phoenix (Success Staffing). Ira Monas and Arif Adam were both there. This is the first time I have met either one face to face. Arif Adam seems to be a refined gentleman... very pleasant and cordial. He was tending to various things, so I only got to chat with him briefly. But he certainly seemed professional and self-assured. I had scheduled the appointment with Ira Monas, so I spent about a hour with him. He certainly seemed more relaxed in the atmosphere of the Phoenix office than when I talked to him by phone in the New York office. Perhaps it's that Arizona sunshine. :-) I have talked with Ira many times by phone, but I was far more impressed with him in person. He came across as genuinely nice with a "no nonsense" drive and confidence. We talked about where he wants to take this company and how he expects to get it there. I will try to summarize the main points. He indicated that with the acquisitions of Myriad, the NY company, and another California company, combined with a couple of new office openings, FAMH will have a pretty full plate. He then wants to hold off on further acquisitions for the time being, so they can properly adjust to these "big bites" they are taking. He doesn't want to add any more for a while unless it's a deal he just can't refuse. Next, he wants to start turning his attention to developing productivity and containing costs. He cited numerous examples of how he expects to achieve the goals in these areas and for the company overall. He acknowledged that to some people it may be difficult to follow the steps they are taking to get the company where he wants it to be. But if they knew all the details, and knew what is going on behind the scenes, it would be easier to understand. He gave a quick example of the small NY company they recently acquired. He said it's small, and ordinarily, he would not have added another office in NY, but this one has 2 key clients and gives them a foothold for some huge opportunities in the health and hospital market in NY. The smaller California company will provide them with a very strong IT base. And that's something that is very exciting to them. They want to build on that base and utilize the resources for all their offices. The NY market for IT placements has excellent potential. He answered my questions in a straight forward way. He expressed disappointment about the way some individuals on the internet have chosen to bash FAMH and him individually. He indicated they simply don't have the facts and they lack understanding of what Firamada is doing. He said he often answers questions, but by the time they get "translated" onto the internet, the meaning can get distorted and blown completely out of proportion. It's unfortunate, but he just doesn't have time to chase every single inaccurate post. He offered to answer any genuine concerns. If Rob cannot answer something, Ira will try to get back to any shareholder himself. He is concerned about the share price, but it is not the top priority to him right now. He is confident the share price will move up to where it should be as investors get their questions answered. As he puts it, "My job is to grow this company and make it successful." I couldn't help coming away from our meeting with a very confident impression that I have made a very good investment. I like what they are doing. And I can see the reality of what they are doing right here in the Phoenix market. Obviously, these are just my opinions. Nothing more, nothing less. Best wishes, Brad