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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Peter V who wrote (2529)	9/3/1998 12:24:00 AM
From: Cosmo Daisey	Read Replies (1) \| Respond to of 18998

Peter, I have detailed the CEO dumping million$ of dollars in stock over the past year and I have just finished some more diggin (shorts do ten times more research than longs) The Janus Fund was a big investor in LBOR but sold off all their considerable holdings, they sold 790,000 shares to close out their position in LBOR. I guess the CEO isn't the only one looking to cash out. Also,a review of Labor Ready's SEC filings state that John Coghlan, one of the original founders of the company, has a consulting contract with the company. The reason John Coghlan has a consulting contract is because he cannot be an officer of the company. The SEC, as part of its approval agreement with Labor Ready required John Coghlan to reduce his holdings in the company to below 5% and barred him from being an officer. The interested investor should know that the SEC took this position because of past unethical practices by John Coghlan that cost investors their capital. Two other facts that are not published, but should also be known by the interested investor: 1) John Coghlan also lost his CPA certification because of ethical lapses in his accounting practice, and 2) John Coghlan is still heavily involved behind the scenes in the management of the company. In fact, one source stated that John Coghlan is at the company every quarter end to "advise" on the close. One source state that when Chuck Russell was fired as CFO, John Coghlan's assistant became the defacto CFO despite the press release stating Ralph Peterson assumed those responsibilities."""