Re: PAM

[Dave Gomberg <gomberg@wcf.com>]

At 09:11 AM 10/21/1999 -0400, Robert P. Cashin wrote:
>       At last, we have a decision, we are unanimously in favor of PAM.  

Thank you all for your decision and trust.   I will do my best to deserve it.

>Now, the next decision is "Do we want to invest in PAM, and if so, how much?"
>       To review, a zero investment would give us zero influence on policy and
>content. 

Not quite.  The folks this mail is going to are major contributors to the
hobby and very interested and sophisticated folks.   As such, an editor
would be a fool to ignore them as a resource and a source of information
and guidance.

> An investment around $3000 would make us a majority share
>holder and give us the maximum influence,

That depends on the details of the budget.  I have made some contributions
already (such as funding the trip to Chicago for Herlong to recruit
advertisers), and expect to make more.   It's really a budget matter that
should be discussed once the board is in place.

> but still not control, we have
>to allow the editor some leeway and he probably wants a lot. 

Like most interested folks, I have my ideas, but you will find I am not
stubborn or a martinet.

> An investment in between would give in between influence.

Roughly so.

>       One aspect to consider is the state of our treasury.  I'd guestimate
>that about half of the current balance is owed to our printer who never
>sends us a bill. Neil, please bug him again about sending it.
>       Another aspect is timing of the investment.  Would it be expected all at
>once, or on a quarterly basis, to make up for the expected early losses
>as they occur?

The last.  I will need money as the expenses come due.  I will work with
the authors, editors, the printer, etc. to try to soften the blow, but this
is a business and I am trying to run it that way.

>       Still another is whether our need to make up losses is tied to the
>percent of stock we own and if there is a way to limit our exposure.

Whether to contribute additional capital is up to each investor, as is the
amount.

Please feel free to ask any other questions you may have.    I will be in
Parsippany from this evening thru Monday.   Talk to you all again Tuesday.
--
Dave Gomberg, San Francisco            mailto:gomberg@wcf.com
For low cost CO2 systems that work:  http://www.wcf.com/co2iron 
Tropica MasterGrow in the USA:      http://www.wcf.com/tropica 
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