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To: waltertx who wrote (26961)3/13/1999 10:59:00 PM
From: Dick Lee  Read Replies (1) | Respond to of 27968
 
WalterTx: This is just to get the record straight (in sentences that start with capital letters, use the correct action verbs and make some sense).

Messrs Powell and Lee along with Messrs. Shapiro and Murphey visited the Long Beach HQ on 2/10/99. Mr. Adam knew well ahead of time why we were coming, the date and the time. He did not show. What does that tell you. He left a 37 year old neophyte to handle three shareholders and an attorney. Mr. Sukey started off defiantly but finished with his cup of humility running over... and where was his boss? Who knows.

Mr Adam has had ample time to turn this business around and does not have the acumen to do it. He has to be removed. The shareholders have lost $50 million courtesy of Mr Adam and I recognize he is one of them (27 million shares at 70¢ is $18,900,000 and now he will have 14.5 million worth 5¢ at the end of March, $725,000. His own personal net worth has been reduced by over $18 million). Walter, you can do the arithmetic!!

Walter, I don't know how you have the stomache to lose $3.5 million (you claim your group holds 10 million shares that were purchased between 40 and 50¢, I have assumed an average purchase price of 45¢) and still hang your hat on a management team that has promised much, published financial results that were not worth the paper they were written on, failed to show when we were all there on 2/10, and delivered nothing except burgeoning debt. My full time job is not leading and managing Firamada, but I was there on my own money. Where was Adam? Hiding behind something, he could not face the music!!!

He has demonstrated his skills to me. I do not need to see any more. There is nothing to discuss. Mr Adam must be effectively removed from this company ASAP.

He has offered us one board seat. What will that accomplish? Nothing.

Walter, you have demonstrated to me that you do not know the facts about this company and this man, if you did, you would not be singing his praises. The man who has reduced your group's net worth by $3.5 million (so you claim).

With best regards, LTBFV through FSAAA (Fir



To: waltertx who wrote (26961)3/13/1999 11:50:00 PM
From: R. Murphey  Read Replies (1) | Respond to of 27968
 
waltertx, ....very interesting.......it appears folks are not "choosing wisely" as was a suggested consideration earlier.

It appears some are examining the situation with a microscope when the panoramic view says much more. A knee jerk reflex tells so much to a diagnostician about the state of internal affairs.

Let's think for a moment of all who could be deposed......ummmmmmmm ...... I can easily think of 15 classes of individuals...... interesting points and possible revelations to consider. Who authorized these dispersals, why did they go here, ....or way over there? ..... how did this money appear over there? Who had responsibility for this, and that? Who approved this, or that? When was this known, ...or that? Who furnished this, ...or that? Various individuals have or had specific fiduciary responsibilities. Did they handle them appropriately, ethically, legally? If so........ If not.....

You speak of garbage on this thread, and for some reason in you considerations that's suddenly a big deal. The stated content of these threads includes communicating, information, views, and opinions. What would anyone expect? Sports have similar discussions. You were specifically warned about this when you established your SI account, just like everyone was warned that "members may pretend to be people that they are not". Long timers have frequently seen their own perceptions about individuals shift as "facts" are presented and verified.

Inside info????? the company has been a sieve since 1997 at many levels, even, I seem to recall, from the top levels after a PR announcing it would cease. One might say they continue when carefully considering your own statements here. And don't overlook the countless press releases and company communiques that flowed over these networks during many months, and how they were used. In fact, it may be revealed how some well meaning people were "used". Be sure to consider the issues of Harassment? Intimidation? Power? Certainly could boomerang viciously when presented.

In the end, the SI thread is a relatively restricted communication method compared to PRs released to the news media and upon which many, many investors relied. Think it's personal?? ......just ask the investor whose $4,000 investment in an "undiscovered gem" turned into $150. There are a lot of similar stories out there, ........a whole lot of them! And their words may be expected to be much more cutting than anything I've seen on this thread. Do you think a judge will consider and place any weight on a "universal" feeling? Ummmmmmmmmmmm........

Was it because of bad times in the industry, ....... not based on what the company has said time and time again. Yet there is the reported financial status of the company, and there could be the big question of where all those shareholder dollars went, ..... to who, ...and how, and for what? Ohhhhhhh .....and the representations!!!! Where did those shares go and why? Hopefully, you've done your duty in a timely fashion. So, all in all it skews back to the fiduciary responsibilities, business practices issues, and what was or should have been known..... what was or should have been done. Very relevant topics when dealing with facts.

The company is probably the only chance shareholders have for regaining any part of their investments, so its difficult to believe they want the company hurt. The chances of success, given the apparent, significant financial hole that has been dug by management are probably slim. The clock has been ticking for what may be too long. It is amazing to me that a catastrophic business event has not occurred already, and it still may. Nevertheless a company's business and Management are separable entities as has been confirmed in countless corporations around the world. It is also why a "C" corp. is I believe the only perpetual business entity.

AS for "sitting down and resolving the differences", I don't know the history surrounding specifics about which you refer, but to me, there are certainly a couple very realistic and viable options available that make good business sense. Regrettably, I sense they would not be considered by the "home team" to be in their best personal interests, yet, in fact they could be. One option could be considered very "balanced" when the overall situation is considered objectively, and assuming there are no more significant surprises.

So, in the end, the situation sure is personal to many shareholders. Is it personal against Arif? So far the evidence is no, its more likely just plain good business.

Best of luck, and again some should really consider "choosing wisely".
Bob.



To: waltertx who wrote (26961)3/14/1999 8:21:00 PM
From: Mr. Jens Tingleff  Read Replies (1) | Respond to of 27968
 
waltertx RE: or is it personal against Arif???

Now what kind of downright stupid question is that - If we had anything against the entity Firamada Inc, would you think we would be here ??

FSAAA = Firamada Shareholders Against Arif Adam

No reason to repeat all the crimes he is responsible for -
But reason to repeat that I think we should file criminal complaint on him in CA.

Walter the BS you put up with here only put you in the same category as Arif Adam, and when I get you tracked down (and I will do that) your identity will be public knowledge immediately.
I will not allow you to try to twist the truth here !!!!!!!!!!!!!

Jens



To: waltertx who wrote (26961)3/15/1999 11:36:00 AM
From: Meteo_Dan  Respond to of 27968
 
Waltertx:

Let's get one thing straight. You are NOT just a shareholder like me!!!

Your post indicate you have considerable "inside knowledge" given your references to discussions with Cleve, Dick, Malinoff, etc. so you are NOT just like me. No one from inside the company is feeding me information like that which is obviously being fed to you. I doubt all other 2404 shareholders are getting that kind of close information. Who told you that stuff?

Also, I would be very careful publicly accusing Dick Lee and FF of such actions contained in your post...namely your reference to "Dick Lee and FF were and are getting info for Malinoff..." Defaming someone publicly is a no-no!



To: waltertx who wrote (26961)3/15/1999 11:41:00 AM
From: Meteo_Dan  Read Replies (1) | Respond to of 27968
 
Now waltertx can we stick with the facts?

Let's start one at a time. I'll ask the basic question you answer with known facts.

What were Famh revenues for 1997?

(no need for me to ask you to raise your right hand ...the judge will do all that stuff)

...waiting.....<insert Jeopardy theme here>