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Microcap & Penny Stocks : Emerson Radio Corp (MSN) -- Ignore unavailable to you. Want to Upgrade?

To: BlueCheap who wrote (2036)	12/18/1998 8:01:00 PM
From: Tony Rome	Read Replies (2) \| Respond to of 3501

HEY MALCOLM AND ALL Looks as if Jurick took offer.Look at this, Emerson Radio CEO to Sell 60% Stake to Oaktree and Grossman Parsippany, New Jersey (Bloomberg) -- Emerson Radio Corp., a maker of home electronics products, said Oaktree Capital Management LLC and Kenneth Grossman agreed to buy a controlling stake from Chairman and Chief Executive Geoffrey Jurick for $14.6 million in cash. Oaktree, a Los Angeles-based investment partnership, and Grossman, a New York investor, will pay 50 cents a share for 29 million shares, or 60 percent of Emerson's stock. In a May filing with the U.S. Securities and Exchange Commission, Oaktree and Grossman said they might seek control of Emerson, a maker of VCRs, camcorders, microwave ovens, clock radios and carbon monoxide detectors with 1997 sales of almost $179 million. Emerson shares rose 1/8 to 1/2 on trading of 1.35 million, about 23 times their three-month daily average. Proceeds from the stock sale will go to Jurick's predecessor as chairman, Donald Stelling, and several other claimants. Parsippany, New Jersey-based Emerson sued Stelling after he resigned in December 1993 and withdrew financial support from the company while it was under Chapter 11 bankruptcy protection. Stelling counter-sued and won the proceeds from Jurick's future stock sales in a June 1996 court settlement. Emerson shares have traded below 1 for the past year, falling from a high of 3 3/4 in August 1995. Oaktree Capital and Grossman are looking into a possible restructuring of the company's balance sheet to boost shareholder returns, Chief Financial Officer John Walker said.

To: BlueCheap who wrote (2036)	12/21/1998 5:53:00 PM
From: Tony Rome	Read Replies (2) \| Respond to of 3501

MALCOLM===Off topic but justified. I'ts not like you to stay off the board while all this stuff is going on.I trust everything is well with you and your family and look forward to your words of wisdom.It looks like the worm is finally turning for all of us unless Jurick screws it up. GOOD LUCK TO YOU AND YOURS, YOUR PEN PAL========TONY==========