To: current trend who wrote (2764 ) 1/25/1999 3:54:00 AM From: Mike C2 Respond to of 3458
Undelivered promises vs. the shorts' rush to judgment What a sad state of affairs when those with short interest pile on having no clue outside of an, as yet, unresolved trading halt: "The Market Authority has also notified Turbodyne that it plans to initiate disciplinary proceedings against the company for, among other things, allegedly issuing a number of press releases which contained false or misleading price sensitive information to the market...Potential sanctions which could result from disciplinary actions include a range of options, up to the withdrawal of admission to trading of Turbodyne shares." (Easdaq, 1/22/99) "Nasdaq has advised the company of its initiation of proceedings relating to a possible delisting of the company's shares. The company has arranged for a hearing with Nasdaq relating to this matter and intends to request a hearing with Easdaq relating to the potential withdrawal of admission to trading in that market. Management of the company strongly believes that it will make a compelling presentation for continued listing. " (Business Wire, 1/22/99) Oh wise shortmeisters with their presumptive crystal balls please tell me how the company attracted the following executive staff if all they are about is fraudulent stock promotion? Dr. William Woolenweber, Exec.V.P., Chief Engineer Dynacharger Program formerly headed the design, development and application of turbochargers for Cummins Engine David Willett, Sr. V.P & Chief Engineer, Electronic Power Systems developer of the TRBD Electronic Controller Module (ECM) Dr. Peter Hofbauer, General Manager of Technology former Executive Director of Engineering for Powertrain Systems, VW AG. Walter Ware was appointed Chief Executive Officer and President of the Company. former Senior Vice President and Corporate Officer of Detroit Diesel Corporation and as a director of several of its subsidiary corporations. Prior thereto, Mr. Ware served in several senior management positions with the Garrett Automotive Group division of Allied Signal Corporation including Group Vice President, North American Automotive Operations, Managing Director Garrett Automotive - Europe and Chief Technical Officer. Gerhard Delf, Sr. V.P., Dynacharger OEM Programs last position held as Chief Engineer for Powertrain & Emissions of VW America Dr. Anatoly Mezheritsky, V.P. for Emission Technology author of 9 books and 96 scientific articles on turbcharger and diesel technologies Duane Rosenheim, Chief Operating Officer. for the past six years, Mr. Rosenheim was an independent consultant working primarily with the Company to develop its prototype product which has been incorporated into the Turbopac-TM- and Dynacharger-TM- products. Prior thereto, Mr. Rosenheim served in several positions at the Delco Electronics Division of General Motors Corporation including Quality Engineering Manager and Manager of the Quality, Manufacturing and Operations Administration Departments. I'm not trying to excuse the founders, Halimi and Nowek, who may have anticipated commercialization of TRBD products before the market was ready, but I'll withhold judgment until specific accusations are publicized and the company responds. If I could choose a long or short position, and the market was liquid, I'd probably rather be short. But with trading halted, and no assurance that trading will resume before OEM announcements are made, I guess I'd be more than a little nervous, too. So... let the shorts keep chanting how the stock is toast. That's just as unreasonable as a long assuming that the regulatory process will uncover the truth and let the company resume business as it's been. It's a sad state of affairs that the reign of small mindedness forces us all to wade through unceasing drivel instead of reasoned discussion of the company's strengths and weaknesses. For my part, I don't understand why the company would announce an OEM deal on three classes of engines with a manufacturer (M.A.N., we thought) for the 1999 model year, and we are into January with no announcement yet. I am also concerned about potential news leaks in Germany that, for example, forced the company to announce the Trans Business Group Russian purchase order after a volume spike and gap in stock price last June. If, in fact, company personnel were involved, maybe they should be impeached :) I'm glad John G. has identified himself as an Asensio wannabe and will reiterate my hope that those who've made libelous comments about TRBD will get what they deserve. If it turns out to be a profitable cover, so be it. MikeC Can anyone confirm a scheduled Wednesday meeting in Brussels?