To: Frank A. Coluccio who wrote (33598 ) 5/9/1998 7:37:00 PM From: topwright Read Replies (1) | Respond to of 41046
Frank, Thank you for your well thought out and mind provoking post. I agree wholeheartedly that the clear division of the two entities was a major step forward, in both the financial perception and as an operational reality. It is also my opinion that one more "fix" is needed. With the upcoming "FNET build-out" and ensuing financial funding, there will be even more pressure(s) applied to an already overtaxed staff. It is encouraging to see FNET have its own management, but I still remain concerned regarding Frank trying to oversee both companies and also be involved in to many aspects of the day to day operations of Franklin. In effect engineering, sales, funding, deal-maker, etc, The "fix" that I refer to, is the need for a hands-on Chief Operating Officer. Someone that can gather in the reins, and steer Franklin on a day to day basis. A honcho so to speak. This would free Frank to concentrate on the upcoming attention that will be needed to "Pattycake" with Wall Street. Posturing is everything when it comes to the financial community. Roadshows, analyst conferences, H&Q tech shows, etc. are all a fact of life if a company expects to get and maintain recognition from the street. Institutional investors will not suppport a company with a "garage-shop" mentality. All this posturing is a full-time job. Frank must find a key-man with a strong background within the Communications industry. Someone to oversee the operational aspects of Franklin. If Franklin is to ever become a major factor within their sector, then it will take a "Communications Maven"" to bust that final barrier of acceptance. Now that Frank has built the "racecar" he needs a top notch aggressive driver to steer this creation to the finish line. RB