Re: investing or not

[krombhol@teclink.net (Paul Krombholz)]

I agree with Neil and Eric.  I think we should not invest in PAM stock or
pay authors in stock because, if PAM continues to stay in the red, we would
have strong temptations to throw good money after bad.  Dave G. says he has
deep pockets friends who will be willing to invest.  Trying to guess their
motivations for investing, I feel that they are not entirely doing it
because they want to support the hobby.  They want some chance that the
magazine will make a profit, and, therefore, they want some control, not
only voting their stock, but also through Dave.  If we insisted that the
magazine be called TAG and if we insisted on full control with Dave and
Herlong working for us and being paid by us, then, I doubt that Dave's
friends would be so willing to invest in the magazine.  After all, since
the investors take the risk; they should get some control.  As Eric pointed
out, they need our expertise and our membership base.  If we were heavily
invested in PAM, and it didn't start breaking even, our cash reserves could
disappear in a little over a year.

Paul Krombholz, central Mississippi, where the gulf opened up to provide
moisture only once during October.