Re: PAM

[Dave Gomberg <gomberg@wcf.com>]

In a chat with Erik, Neil, and others at Parsippany, I suggested that if it
fit with their other needs, stockholders (who got stock for writing, etc.)
COULD assign their voting rights to AGA for a year or two.



At 04:29 PM 10/20/1999 -0400, krandall@world.std.com wrote:
>At 09:11 AM 10/21/99 -0400, Robert P. Cashin wrote:
>>      At last, we have a decision, we are unanimously in favor of PAM.  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.  
>
>I don't believe that a zero investment equals zero influence.  PAM needs
>_us_ too.  We will turn over our members to PAM as subscribers, and will be
>paying part of our dues toward the magazine.  This is a pretty hefty slice
>of influence.  
>
>>An investment around $3000 would make us a majority share
>>holder and give us the maximum influence, but still not control, we have
>>to allow the editor some leeway and he probably wants a lot.  An
>>investment in between would give in between influence.
>
>I have come to feel that it would be best for AGA and PAM to have a
>consumer/service provider relationship, at least at this point in time.
>The more I think about it, the less I think that AGA would be able to
>continue it's majority shareholder position until the magazine actually is
>running in the black.  
>
>I think that AGA has a lot to offer PAM and vice versa.  An arms length
>distance might make it easier for us to make decisions.  If we are _really_
>unhappy with how things are going, (and I don't think we will be) we can
>always, with notice, just withdraw from the project.  Then we could go back
>to publishing a hobby journal that we felt was a better fit for our
>members.  If we have a large amount of money invested, this is a much
>harder decision to make.  
>
>While it would be nice if PAM takes off like a rocket, and runs in the
>black very quickly, I don't know that that is a realistic expectation.
>Will we be happy if we've invested as much as we can and we _still_ can't
>maintain our majority stock holder position?
>
>Karen
>
>
--
Dave Gomberg, San Francisco            mailto:gomberg@wcf.com
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