To: Gary Green who wrote (2135 ) 2/20/1998 11:29:00 AM From: rl Respond to of 3369
Are you questioning the word of the current SALV CEO? I guess it's OK to say you "fired" someone who you work FOR, after announcing that the supposed firee "resigned." If you look back on the releases and filings of SALV just prior to the firning/resignation of the prior CEO you will see that the BOD of SALV was composed of three Europeans and i American. Guess who got fired/resigned? Has Lealos ever responded to the accusations of fraud or the firing/resignation issue? I think not, other than via a lawsuit that is still out there. Look at the management of SALV in late "96. It lists Lealos, McLachlan, David Barnes, and Duke Van kalken in Singapore. Guess who's still there, while the two that are gone are being characterized as thiefs. When the BOD of a Delaware corporation fires an officer, they can then appoint whoever they want as replacement without consulting the shareholders. If you have a BOD of 3 Europeans and 1 American, even though he was the founder of the Company, and he is "fired", who do you think will takeover? Who will then be demonized? All mistakes can easily be blamed on someone who is in no position to defend himself. But,in the case of SALV, 14 months have elapsed since the firing/resignation. How long can McLachlan use this excuse for the lack of performance of the stock and sales of the product that he has praised so highly and spoke of success so often in his press releases. Do you think McLachlan felt he owed the shareholders any announcement after he "fired" the former CEO? Obviously not. Do you think if the fraud etc. were present, he would have not said a thing in the filings or otherwise if it were true? What a perfect way toscapegoat. I'm just amazed he hasn't trundled out this one before. Why then would he keep the Singapore man working until a month ago if he was stealing? I wonder why manufacturing is being sent to England? Getting back closer to home? The ex-BOD member, Barnes, is still listed as management and heads the London office. Why?