To: REW who wrote (26433 ) 4/22/1999 6:14:00 PM From: The Swordsman Read Replies (2) | Respond to of 44908
REW, first, no one here is doing business with Valley Media!! It's all being done with TSIG. It's TSIG's responsibility exclusively. You lose so much credibility using that lame excuse. For almost a year with this plan and many years with great plans of the past TSIG/PHXS has never executed and always lost money. Both companies have one thing in common. Check the records. No deep thought to read the history books. However, I do have a pro-active suggestion as how to get it fixed along with a number of other things, most notably the rapid improvement of share price. Even Mr. Gordon should be pleased with the results. IMHO By the way, my suggestion is not "thinking" that the future will be great, yada yada, yada... The legal question relative to my/our ability to legally solicit fellow shareholders to hire a law firm and have the last two years of 10K's and trading records can be evaluated as follows; TSIG does not file under 12b or 12g. They are not a 13d nor do they operate under proxy rules. Because of these particulars I/we are on very solid ground to solicit and get together for the purposes discussed. In the event of any actionable undertaking, under no circumstances do I or any of us wish to be soliciting any of the others of us for the purposes of voting the other's proxy. All parties to this effort will be making their own decision independently as to whether or not to proceed with any action if any as made by recommendation of counsel after reviewing all the pertinent records and trading histories. As of today and because of more conversations with various of the targeted prospective firms, budgets for this effort will easily be less than originally outlined as per my early comments.. They, the prospective Firms and their attendant web addresses are once again listed below for your perusal as we go forward. AKIN GUMP STRAUSS HAUER & FELD...www.akingump.com BAKER & MCKENZIE....................www.bakerinfo.com SKADDEN ARPS........................www.sasmf.com MILBANK TWEED.......................www.milbank.com WHITE & CASE........................www.whitecase.com MILBERG WEISS......................www.milberg.com Any comments and/or observations would be appreciated. While many of you would prefer to ignore this effort, I would suggest that you are being incredibly ignorant not wanting to know from a very professional assessment what options you have. If it turns out that Mr. Gordon has been imprudent, even though legally done, but imprudent in allocating a 300% increase in his ownership of TSIG by fiat at the direct expense to us the shareholders of this PUBLIC corporation and we have recourse to reverse that error in decision, then you should be able to look forward to a healthy rise in share value. Unless of course your needs and outlook are substantially shorter term. Successful shareholder attacks against excessive compensation legal and otherwise, have historical precedent. This looks like an open and shut case. If Mr. Gordon was to go further and move upstairs and accept J Hwang or J Guild as the CEO the share price will also benefit immensely, IMHO. Certainly you can all see the benefits of these actions. It will take a bit of resolve, a few bux, and some time. Certainly less time than we have been waiting to date, and no doubt much less time than leaving things satus-quo. Meanwhile, the legitimate moneylenders will be more inclined to do business with a company with a higher share price, fewer shares outstanding, and proven leadership. Seems to me everyone comes out a winner, even Mr. Gordon. Please continue to PM me for follow-up details. No more short term daytrader nasties... please. Thanks, Sword.Com