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To: katmando who wrote (10703)	3/8/1999 1:33:00 PM
From: katmando	Read Replies (1) \| Respond to of 27722

(OT) Here's an IPO from my past...a lovely blue blood loser!!! LOL. I invested in an Investment Bank IPO at the end of the year. Before the IPO (ie before the owners dropped the corporate veil read that reduced personal liability), the bank paid out, as I recall, $200 MIL in bonuses to the principals (previous owners) plus selected staff. They robbed the cash box at Xmas immediately before the IPO!!! The Bank did their own IPO, that was their primary business. After the fanfare, the share price dropped 75 %. That was about the same time the Bank reported its little Xmas bonus in SEC filings. The shareholders creamed the stock. The principals held fast. Except for the youngest stud in the group who whined and wept, so he sold out, claiming that his partners said it was OK. The media ate his butt daily. The young fellow was more interested in his money; the older farts were more concerned about their reputations. All of them accepted their bonuses!!!! LOL My fondness for blue blood, surefire winners evaporated. Give me a POS stock opportunity any day. Reduced risk if we're already in the mud playing with miss piggy. Kat