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Non-Tech : Hall of Shame (naysayers, hypesters, MM henchmen, gasbags) -- Ignore unavailable to you. Want to Upgrade?

To: Mel Viticus who wrote (262)	5/23/1998 3:04:00 AM
From: Galirayo	Read Replies (1) \| Respond to of 417

Mel, Here's a new Classification for ya. BTW: Taxi was right. Nice legs. Just keep hold of that Toga you got from Granny so it don't blow up around your head again. I hate it when that happens. Music to read by. legypt.net Ray quote.yahoo.com Friday May 22, 5:53 pm Eastern Time Company Press Release SOURCE: Seymour Holtzman Ambanc CEO Adjourns Annual Meeting Without Permitting 100 Disappointed Shareholders to Speak While Ambanc's Shareholders Applaud Activist Seymour Holtzman at His Informational Meeting WILKES-BARRE, Pa., May 22 /PRNewswire/ -- More than 100 Ambanc (Nasdaq: AHCI - news) shareholders were shocked when Robert Brittain, Chairman and CEO of Ambanc, adjourned the annual shareholders meeting this morning at the Best Western Hotel, Amsterdam, NY. Those in attendance were not permitted to question Brittain or express their disappointment that the meeting had been cancelled. Only minutes earlier, shareholder activist Seymour Holtzman had concluded his own meeting for approximately 50 concerned Ambanc shareholders and was overwhelmed by the support exhibited by the bank's investors. The strong attendance on the day before a holiday weekend was the result of Holtzman's efforts to inform shareholders about the bank's poor earnings over the last three years in contrast to other banks that have experienced record earnings. Last year there were approximately 25 shareholders in attendance at Ambanc's annual meeting. This year, nearly 100 shareholders were seated when Brittain called for immediate adjournment. The increase in attendance clearly shows the shareholders' concern for the performance of the bank's management. ''It was a serious affront to the shareholders who took the time and made the effort to attend the meeting,'' said Holtzman. ''The group was summarily dismissed, without answering a single question, which is just one more indication of Ambanc's management style.'' Richard Huffsmith, Holtzman's attorney, sees the adjournment as a legal maneuver and questions why Ambanc incurred the expense to bring in attorneys, advisers, and board members to Amsterdam for the meeting. ''We filed an action in Pennsylvania Federal Court on Wednesday, May 20, 1998, to have the annual meeting postponed because of what we believed to be serious material omissions in the proxy materials that Ambanc had distributed. Ambanc refused to cancel the meeting. It's ironic that Ambanc adjourned the meeting today in light of the fact that its counsel argued to the Federal Court yesterday that it would be an inconvenience to the stockholders to cancel the meeting. It appears that today's adjournment is intended to block Mr. Holtzman from proposing an alternate slate of directors.'' Huffsmith suggests that this arrogance and lack of respect for the shareholders can only send a negative message to the financial community. Holtzman said today that he would continue his campaign for shareholder rights. ''I have tried to be helpful to the Directors and management. I only resorted to litigation when my suggestions were ignored. I will continue to work actively on behalf of Ambanc's shareholders and look forward to Ambanc's rescheduled meeting on June 12.'' SOURCE: Seymour Holtzman