To: Cheesehead who wrote (2289 ) 6/2/1998 12:17:00 AM From: Wayne J. Read Replies (2) | Respond to of 9824
Hello! Cheesehead, I phoned Mr. Tilton twice today! The first time he was on another call, but then I tried later in the day and did speak to him. Rather then focus on a specific list of questions I tried to get a sense of what Mr. Tilton was like as a communicator and how persuasive and shareholder friendly he was! Keep in mind that these are only my own personal comments, feelings and observations regarding my discussion with him-so at best treat it as entertainment value. First off, he appeared to be very receptive, and had all the time for me that I felt I needed! In no way did he appear evasive, and respondid to any/all questions that I addressed with him. In general terms he indicated to me that the dividends that have been announced on previous news releases via new company acquisitions will indeed be taking place however before a date of shareholder record can be established that an audit needs to be completed on all the newly acquired businesses then as that takes place a specified date will communicated to the shareholders in time! He quoted a number of reporting SEC forms that needed completion and submission ( I can't recall the specific numbers) and once that whole process was completed then we would hear the details and next steps! He also indicated that he is still working on getting 8 Million shares returned? ( I did not fully understand what that is all about!) I asked him if he would find it advantageous if the share price were lower so that he could buy back shares at a cheaper price? he responded by saying this was not so! I commented that considering news releases were becomming a regular event, it was interesting that there has been no news for a few weeks! Although he would not give a hint as to when the next release would be issued, my impression was that it would be sometime soon--but I wouldn't want to venture a guess as to the time frame! He did acknowledge having a lengthy meeting with RHarris and Jeff? and wasn't surprised that it was taking a long time to get the transcript completed! He thought it would be a lengthy and costly process and gave Richard a great deal of credit in taking this initiative and thought that the thread participants should be patient with Richard as he wanted to insure that he presented the exact details and not have them taken out of context! ( At least that's how I understood it!)--Thank you Richard and Jeff for your efforts! Mr. Tilton explained to me that when he talks to shareholders he only tells them what is not insider information and tries to make a point of not saying anything off the record--thus felt /appeared quite confident that what Richard would be sharing from the transcript would be able to be shared with all shareholders!( At least that's my feeling/ understanding!) From speaking with Mr. Tilton he doesn't strike me as someone who would intentionally leave someone on hold-but rather as someone who might get involved in a conversation and lose track of time! I can use one example that took place during my second call to him today when near the end of our conversation he had to quickly sign off as he had just realized that he was late for a scheduled appointment. Just my own opinion. I asked him when we could expect further details regarding the Basketball Franchise Acquisition-addressing details such as team name, location, etc?? He indicated that he would share that information once the basketball season was officially completed, as the ramifications of announcing those details prior to season's end would /could directly effect people's employment and source of livelyhood!-To me that appeared to be a reasonable explanation under the circunstances! In closing , as I have already noted earlier it was only my second conversation with Mr. Tilton, and I would imagine that many others have had more discusions with him! I look forward to hearing more from other shareholder experiences on this thread! Mr. Tilton also indicated that the company profile would be updated in the near future in the Investor Relations package that goes out to shareholders and other interested parties --on a request basis! I'm sorry I could not provide any more specific details, but I did want to leave my overall impression from the discussion and that namely that Mr. Tilton appeared to take a serious interest in communicating with a TNRG Shareholder. My only other comment would be if you are having some challenges getting through and speaking with Mr. Tilton, keep trying, I think you will find that he is approachable! JMO! Best Regards, Wayne J.