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To: Sgt. Stockpile who wrote (8204)	2/18/1999 1:15:00 PM
From: zurdo	Read Replies (1) \| Respond to of 27722

Sgt. Stockpile, Very aptly and accurately stated...We have been making excuses for Paulson long enough, and you are correct that he and his team have let many opportunities slip by due to their inaction....You are right about their constant hedging and their overuse of vague terminology in describing the IPO schedule...They are beginning to look like a group of stumblebums who cannot get their act together...I hope the NAVR Board of Directors starts to take a hard look at Paulson...I, too, am a NAVR long, but getting increasingly frustrated by this will-'o-the -wisp IPO activity by NAVR management