| To: Riley G who wrote (486) | 2/16/1999 12:37:00 PM | | From: Ellen | | | |
X-Sender: XXXXXXXXXX
Date: Tue, 16 Feb 1999 12:00:34 -0500
To: (Recipient list suppressed)
From: Riley G <Riley.G@psicop.com>
Subject: Place on the SI RMIL boards!
Mime-Version: 1.0
This message is to be placed on the Silicon Investor RMIL threads by the following three people.
Big Daddy, Ellen, and Tonto
It has come to my attention during the past 5 months that the postings by Tonto and Mike Kugler regarding the RMIL BOD's were 100 percent correct and that we shareholders of RMIL appear to have been scammed and defrauded by the RMIL Board of Directors!
Tonto and I have been working on cracking this thing wide open, and I will not discuss the details of any on the evidence that we both have uncovered in this matter. Tonto and I will not discuss what we have uncovered, but it is damning evidence against those concerned. And we hope that our efforts of working together will benefit ALL RMIL shareholders in the future.
Once again, I am sorry for any troubles that were caused to Mike Kugler and Tonto in these matters. But it's not to late to join forces and fight the CROOKS that got out stock halted!
Signed,
Riley G
RMIL Stock Activist
psicop.com |
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| To: michael d kugler who wrote (90) | 10/12/1999 2:26:00 PM | | From: tonto | | | |
To: +Riley G (31 )
From: +michael d kugler Sunday, Sep 7 1997 10:27AM ET
Reply # of 487
Riley,
Tonto raises some interesting questions. Why don't you answer him?
Are you simply unconcerned with anything fundamental concerning this company?
Tonto has been able to cut through a lot of BS on other threads. His questions are legitimate. He does his homework and does it well.
If you continue to ignore legitimate questions, some may think you're perpetrating(not fighting) crime.
Next
Previous
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| To: Riley G who wrote (159) | 10/12/1999 2:44:00 PM | | From: tonto | | | |
To: +michael d kugler (157 )
From: +Riley G Sunday, Sep 7 1997 4:19PM ET
Reply # of 488
To all OVIS shareholders.
Please discontinue any conversations with this person Mud Slinger. He is here for a reason and should be paid the mind he has. NONE.
As to my final remarks to him. My crediability has taken this stock from 19 cents to the present levels. Those who doubted me at first can see that I am right. Those who are watching in the corner, know that I am right. The MM's know that i am right and have sent mpouthpieces here to naysay.
Those on THE OTHER Stock message board can read the posters comments about the dumping of the stock. And that person was in contact with me a few weeks ago asking about the objectives of the shareholders. I appears that this person bought shares just to make $280,000 from a few 10 or 15 or 30 thousand dollar investment. That was the only week leak to date, and the MM mouthpiece wants you to think it was a major sell off or slump. Those shares (68500 where not in my numbers).
Feel the positive power of the unified OVIS shareholders all working for the same cause.
RG
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| To: michael d kugler who wrote (149) | 10/12/1999 2:48:00 PM | | From: tonto | | | |
Thanks Mike. <s>
To: +Riley G (115 )
From: +tonto Sunday, Sep 7 1997 3:33PM ET
Reply # of 489
Central America today is very different from years ago when we were in business there. Employees are better compensated and taken care, and protected. One of the reasons for the many battles fought there.
Payroll Burden
In addition to base salaries, the labor law requires employers to pay other benefits
which total approximately 46.86 percent of the wage as shown below. In addition to
this amount the employer must take into consideration the costs of severance pay.
Payroll Burden
(annualized)
Concept Description %
Annual Vacations 30 paid days 8.33%
Christmas bonus 1 month's salary 8.33%
Seventh Day 1 for every 6 days 12.05%
Paid Holidays 10 days (appx.) 3.65%
Social Security (urban) employer's contribution 12.50%
INATEC training 2.00%
Total 46.86%
* Annual Vacation
Employers are to pay their employees the equivalence of 30 days paid vacation for a
full year's work regardless of whether the employee takes the full 30 days or
substitutes 15 days for a cash payment.
* Christmas Bonus
The Labor Code requires all employees be paid a salary for the "13 month," the
equivalence of a Christmas bonus. The amount is based upon the salary paid for the
month of November.
* Seventh Day
Salaries are to be given for the seventh day or day of rest according to the Labor
Code. This is true only after having worked for 6 days. The salary is based upon
the wages set in the contract. If, for example, wages are paid on an hourly basis,
the seventh day counts as an 8 hour work day. If salaries are given upon a task or
production, then the pay rate is equal to the average task or production rate for that
week.
* Paid Holidays
Depending on the municipality, there are approximately 10 days considered
holidays where employees are to be given a paid day of rest.
* Social Security: (3 types)
In Nicaragua, employers are required to contribute to the social security system.
There are three types of social security:
INTEGRAL-This is the type of social security provided to urban laborers. In this
case, the employer contributes the equivalent of 12.5 percent of the employees
salary to cover social security costs while the employee pays the social security
system 4 percent.
IVM- This IVM is required typically for laborers in rural areas. In this case, the
employer is responsible for 5 percent to cover social security costs while the
employee is responsible for 2 percent.
SELF-EMPLOYED- In this case the individual contributes 13.5 percent of his or
her salary.
* INATEC
Employers are required to pay 2% to the National Institute for Technology
(INATEC) per employee for training purposes.
Other Considerations
* Severance Pay
At the termination of a labor contract, the employer is required to pay 1 month's
salary for each of the first three years worked and 20 day's salary for each year up
to a maximum of five months. The employee is also entitled to his or her salary for
vacation time and the 13th month in proportion to the amount of time worked at the
time of dismissal. This holds true even if the reason for termination is based on
mutual consensus or if the employee quits. If fired for an unjust cause, then the
employee is also entitled to a month's salary for white collar workers and 15 day's
salary for blue collar workers. In the event of an extraordinary cause for the
termination of a labor contract, such as destruction of property or theft on part of
the employee, the employer is only required to pay for the relevant vacation time
and 13th month.
* Sickness Benefits and Accident Compensation
Employees are to be given a maximum of 30 days leave in case of illness. These
30 days, however, may be renewed. In the case of partial disability, the employee is
entitled to leave of up to six months or a year if he/she is permanently disabled. For
maternity, women are given 84 days of maternity leave. INSS will cover 60% of the
salary in case of illness, the rates vary for disability, and will also pay for the
maternity leave. The employer has no obligation except for the rate (i.e. 12.5%) it
already pays to the social security system for each employee.
* Over-time
Over-time is to be paid at twice the regular rate set in the labor contract.
* Payment Delays
If payment to the employee is delayed, the employer is required to pay an extra 10
percent of what is owed for every late week.
LABOR ENVIRONMENT
Addressing Grievances
Grievances can be made by a single employee, a group of employees, or through a
union. Grievances are to be first directed to the employer and then to the Ministry
of Labor.
MINISTRY OF LABOR
The Ministry of Labor has the right to suspend the activities of a firm if it is
infringing upon the rights of its employees as defined in the Labor Code.
STRIKES
Under the new Labor Code, strikes may not take place until all other possible
measures have been taken to resolve the dispute. That includes exhausting all
conciliatory measures provided by the Ministry of Labor. If these requirements are
not fulfilled, the strike is considered illegal, in which the employer has the right to
dismiss any employee who does not return to work. If a strike is considered legal,
then the employer may not hire new workers throughout the duration of the strike,
nor terminate any labor contracts.
Collective Bargaining
Collective bargaining, a written agreement between employers and employees, can
only take place between an employer and a union.
Unions
* Labor unions must have at least 20 members and they must register with the
Ministry of Labor.
* Membership in both Sandinista and non-Sandinista unions has declined in recent
years and continues to fall. Today, less than half (and perhaps as few as 1/3) of
workers in the formal sector are unionized. The political power of both Sandinista
and non-Sandinista unions has diminished accordingly. Additionally, Sandinista
unions have been without the benefit of direct government support since the
Sandinistas lost power in 1990, and have been wracked by charges of corruption.
Just over half of unionized workers are members of Sandinista unions. Many
employers find non-Sandinista unions easier to work with than Sandinista unions.
Hiring and Firing Requirements
* Employers are required to have a labor force comprised of at least 90%
Nicaraguans.
* Employers must obtain permission from the Labor Ministry to dismiss a group of
employees (i.e. when closing down a plant). Permission is not necessary when
firing 1 or 2 employees as long as they are given their due compensation and 30 day
notice prior to dismissal.
NICARAGUAN TAX SYSTEM
INVESTOR CONSIDERATIONS:
* New Tax Law
* Tax Free Zones
GENERAL INFORMATION
A new tax law went into effect in May, 1997. The law was designed to reduce tax
evasion by specifying those items that are exempt from tax payments and abolishing
the government officials' discretion to make exceptions to the law or exonerate
tariffs. It also aims at promoting investment and overall economic growth through a
series of changes favorable to businesses.
PRINCIPAL TAXES
National
1. Income Taxes
2. Consumption Tax (Luxury Tax)
3. General Sales Tax
4. Social Security Taxes
5. Import Tariff
6. Temporary Protection Tax
Municipal
1. Sales Tax
2. Territorial and Residence Tax
CLASSES OF TAX PAYERS
1. Persons or associations of persons
2. Incorporated associations of persons
a. corporations (sociedades anonimas S.A.), societies, associations and foundations
b. mixed corporations (i.e. government with private capital)
c. state entities and state-owned enterprises
Each of these is subject to income taxes and the sales tax regardless of nationality as
long as the source of that income is based in Nicaragua.
TAX YEAR
July 1 - June 30 and special periods for seasonal activities.
FREE TRADE ZONE
The free trade zones were authorized to encourage job creation. Under the
Free-trade Zones Law, companies are granted full exemption from income taxes for
the first 10 years and 60 percent exemption thereafter. The free trade zones are also
exempt from import duties, levies, and sales taxes on imports. Currently, the large,
state owned "Las Mercedes" free trade zone is located near Managua's international
airport and a smaller "Index" free trade zone is located off of Managua's north
highway. Four other private free trade zones have been authorized, but have not yet
been opened.
PRINCIPAL TAXES
INCOME TAXES (IR)
For individuals, income taxes are calculated through a progressive tax rate as
income increases. Taxable income is based on Nicaraguan-source income. The
maximum rate applicable is 30%. This tax rate will fall to 25% in July, 1999.
For a corporation and other associations, there is a flat rate of 30% on
Nicaraguan-source income. Beginning July 1999, this flat rate will be reduced to
25%.
Land or assets may can also be taxed as income. For the agricultural sector, there is
a tax per lot of land in excess of some specified amount. This amount depends on
the region. For all other sectors, individuals who do not receive a salary but are
engaged in a professional activity will be taxed 1.5 percent on the value of their
tangible assets or inventories in excess of 500,000 cordobas obtained that year.
You are flat out wrong Riley about the economic conditions and total labor compensation of the workers. No need to debate this issue, I'm just posting current conditions. Conditions you refer to are dated.
I am 43 and have spent over 10% of my life in these countries, working and studying. Your assumptions from a business angle are mumbo jumbo.
You are responding to this message from michael d kugler on Sep 7 1997 4:00PM EST
Tonto,
Once again, your information is nothing short of stellar. Keep posting. Perhaps some of these guys will actually read your posts and learn something of relevance to this issue.
I wonder what Riley will say to your post, or if he will simply explain that it doesn't matter, and that his dated information may be dated all around. Gee, what if there's no short position left at all? What if it's old information too? There will be a lot of bag holders.
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| To: Pugs who wrote (203) | 10/12/1999 2:56:00 PM | | From: tonto | | | |
To: +Riley G (121 )
From: +Pugs Sunday, Sep 7 1997 8:04PM ET
Reply # of 490
Behind you all the way..1000 shares, certs called in.
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| To: Tommy Hicks who wrote (182) | 10/12/1999 2:58:00 PM | | From: tonto | | | |
To: +mtnres (179 )
From: +Tommy Hicks Sunday, Sep 7 1997 6:11PM ET
Reply # of 491
************************NewsAlert***********************************
FORT LAUDERDALE, Fla.--(COPPER WIRE)--Sep 7, 1997--Jerry Morgan, CEO
of Olympic Ventures R Us, Inc. (OTC BB-OVRS), announced that he had
completed negotiations with Matel Toys to provide apparel for
a new line of action figure toys. Matel plans to unveil their
Psychic Cop action dolls along with his arch rivals Evil Mike K.
and the Hawaiian MM in October.
Matel had planned to unveil the dolls earlier this summer when they
encountered problems with their beta test units. Engineers had
apparently used the actual likeness of Evil Mike in their design and
found that the dolls frightened small children. Morgan stated
"Man, Evil Mike is ugly to the bone." Matel engineers
scrambled to remove some of the moles and body hair and did a
massive remake of the dolls nose. Morgan added "He still
isn't too pretty, but at least not as many children scream
.....the initial testing damned near caused a riot at Walmart."
Morgan stated that Olympic is currently working out problems they
have encountered in their manufacturing process. "Those little biddy
shirts are quite a challenge for us" Morgan stated "and those little
buttons are a real pain. Have you ever tried to hem a pants leg the
size of your finger?"
Matel officials stated that they have plans for additional dolls
in the line. They stated that S/M Mike and Don Ho Cross Dresser
dolls would be available before Christmas. Morgan stated
"I don't know much about this S/M stuff.......I know we havn't
found a supplier for little biddy chains and hand cuffs." Concerning
Don Ho Cross Dresser Morgan added "If they want lace on that thing
it's gonna cost extra." Morgan added that problems had already
been encountered with this endeaver "They turned down our garter
belt prototype.....said it was a rubber band and didn't look right.
I don't know how a garter belt can be made to look right on a
hairy leg." Morgan indicated that Matel had backed away from
offering the same options for the Psychic Cop "I just had to
tell'em that I was afraid he'd do one of those Vulcan mind thangs."
Morgan stated that the apparel for the dolls would eventually be
manufactured at their facility in El Salvador, but language
problems had been encountered. Morgan said "None of us here
speak a lick of Spanish and they apparently have some kind of
pindeho problem.....what ever that is." Morgan stated that he
hoped to have the problem remedied shortly.
Morgan added that he welcomed comments from investors and others,
but stated "Let the phone ring a while, we're just busy as
hell.......these little buttons are really something."
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