Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Am.United Global, Inc. (AUGI) -- Ignore unavailable to you. Want to Upgrade?

To: trouthead who wrote (2000)	8/3/1998 3:56:00 PM
From: Chuck Martin	Respond to of 2065

JB, Congratulations! Your message was number 2000. I hope you are Y2K-compliant! :) Re the volume (or lack of it), I don't know why and I don't really care. I'm free at last from Connectsoft! (I've been gone for two weeks now). I still read this thread for amusement, though. Bye for now. Chuck

To: trouthead who wrote (2000)	8/3/1998 11:44:00 PM
From: Mitchell B. London	Read Replies (2) \| Respond to of 2065

JB, July 31st, 1998 was an interesting day, even apart from the lack of AUGI volume. First of all, this day was my wedding anniversary, though of course that's irrelevant here ;-) According to SEC disclosures, Robert Rubin's $1.2 million loan from the company (granted at time of the Hutchinson Transaction) was due and payable on that day. Anyone want to hazard a guess as to whether the note was paid? Hmmm, could the Board possibly have any justifiable reason to extend it?!!! (especially considering current litigation) By the way, this note is collateralized by "noncompete" and "consulting" severance payments due to Rubin from Hutchinson, though he has never received any of it I believe -- that is because their payments were made contingent on AUGI shareholder approval of the Hutchinson Transaction... One would have thought this would have been a sufficiently compelling reason to have held the 1996 (or 1995) Shareholder meeting on schedule. I've always been baffled by that particular sloppiness. Also, It may interest you to know that Rubin's term of employment at both WPEC and AUGI expired on this day. Rubin's revised employment agreement was never actually approved by AUGI shareholders... I don't know the status of his employment with WPEC. He earns about $300k/yr between the two of them, just for sitting at home, in NYC. I'd bet dollars to donuts he's still getting paid by both. Rubin also owed 1.6 million dollars to the company under the revised (!) agreements concerning ERD Waste. I don't know if or when the Board will call upon him to settle it. Same bet says Rubin hasn't yet paid this either. - ML