| To: William Harvey who wrote (2651) | 11/13/1998 8:42:00 PM | | From: Lionel Parker Perkins III | | | |
AAAAARRRRRRRRR. This is getting on my nerves. I still had a few shares from last week that I was short. Dumb me, I got busy last Friday and didn't cover over the weekend. I want to short some more to average my price up. I can't get the shares and this thing is falling like a dead cat. Talk about pulling out hair. AAAAAAAAAARRRRRRRR
Still Short at 16 |
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| To: Lionel Parker Perkins III who wrote (2652) | 11/13/1998 9:53:00 PM | | From: Glenn D. Rudolph | | | |
K-TEL Ordered To Pay 8000 GBP
On March 30, 1998, K-TEL was fined 8000 GBP and ordered to pay 1488 GBP in
costs after admitting to two charges under the Trade Descriptions Act of
supplying a CD with a false description. The charges stemmed from a 1996 CD
released by K-TEL, which claimed to be 1993 re-recordings of Mott The Hoople
songs that featured Ian Hunter and Mick Ronson. The case was brought by
Hampshire Trading Standards, after being informed by Ian Hunter's management
that the liner notes were innaccurate. Mott The Hoople fan Phil Holbrook had
notified Ian's managmeent of the situation.
<Picture: [Bogus K-TEL CD]>
In 1996, K-TEL released The Best Of Mott The Hoople (K-TEL ECD 3279). The
album contained re-recorded versions of Mott The Hoople songs, with liner
notes stating that 'In 1993, Ian Hunter and Mick Ronson reformed Mott The
Hoople and went back into the studio to re-record all their hits, together
with five new compositions.' The additional songs were credited to Gerry
Chapman and former Animal Danny McCulloch.
K-TEL Explains
Michael Bromley-Martin, defending for K-TEL, told the court that the Mott The
Hoople material was purchased from McCulloch Chapman Music in the USA, along
with material by The New Animals, Paper Lace, and The Byrds. K-TEL negotiated
the deal with Danny McCulloch, who guaranteed the recordings were by the
original artist. Bromley-Martin stated that K-TEL had paid $75000 for the
tapes, had followed normal industry procedures, and were happy with the
authenticity of the songs. Bromley-Martin also stated that K-TEL had dealt
with McCulloch successfully in the past.
When initially contated by Ian Hunter's managment, K-TEL apparently stood
behind the CD. McCulloch claimed that Ian Hunter's voice had been remixed
along with a soundalike voice in order to strengthen it, and that the remixing
had been done with Ian Hunter's knowledge and permission. Bromley-Martin told
the court: 'It did not occur to K-TEL that he was putting forward recordings
that might not have been genuine.'
Due to the fact that K-Tel admitted guilt, Ian Hunter did not appear in court.
However, a written statement was presented. 'We had not recorded together
since 1989. I can categorically state that it is not me singing and that the
singer is deliberately trying to imitate me.'
The court was told that K-TEL had withdrawn the album last August, when they
realized that the album could not have been recorded in 1993. It had sold
approximately 1500 copies. Bromley-Martin told the court that they had tried
to contact McCulloch for 18 months, but that he had disappeared. He said that
if McCulloch could be found, K-TEL would instigate proceedings against him.
Other K-TEL Releases Questioned
The proceedings were covered extensively in the press, as The Times, The News,
and The Daily Mail all dedicated half a page to the story. The BBC 4 radio
program You and Yours dedicated over ten minutes to the case, and interviewed
both Phil Holbrook and Ian Hunter by phone. Ian told them: 'I picked it up on
the web, when some of the people who bought it were discussing it and were
saying 'I don't think this is the real thing'. I couldn't really believe it
because it was so blatant. I mean, usually it's a little more subtle than
that. I really don't know if I'm being diddled out of my royalties, they might
turn up sooner or later, but deception's a big thing. If Mott The Hoople were
to reform, and to do their previous hits, they would be offered a lot of money
to do that. This is like a 5000 quid job on a Saturday afternoon. We've had to
sit and twiddle our thumbs while people have gone out and bought it, and been
conned.'
You and Yours went on to report that other K-TEL releases were being
questioned. A solicitor for The Village People was interviewed, and claimed
that a K-TEL CD by that group was also bogus. 'It would appear that someone
has duped the record company which we have sued, which is K-TEL, the same
company as in the Mott The Hoople case. If somebody wants to claim they have
an original artist's recording, they will either have a recording contract
with the artists, or receipts from the studio showing the artists were in
there.' The BBC program reported that no contracts were made available for
either Mott The Hoople or The Village People.
Other Bogus Mott The Hoople Releases
The K-TEL judgement has not ended the problem of bogus Mott The Hoople CDs. At
least five companies have licensed purported Mott The Hoople recordings (in
various forms) from McCulloch Chapman Music. Here is a summary of the
releases: The Best Of Mott The Hoople (UK K-TEL); All The Young Dudes (Denmark
Digimode); Dudes (UK Going For A Song); and The Magical Collection (Holland
ARC MEC 949074). The material has also been released in Germany, but I don't
have the details right now. |
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| To: Glenn D. Rudolph who wrote (2653) | 11/13/1998 11:06:00 PM | | From: Tom Hua | | | |
Dow Jones Newswires -- November 3, 1998
NEW YORK (Dow Jones)--K-Tel International Inc. (KTEL) President David Weiner has resigned
to pursue other interests, a company spokesman said.
The spokesman said Weiner will be replaced by Larry Kives. He would not comment on whether
Kives is currently with the company or whether he is related to Philip Kives, K-Tel's chairman and
chief executive.
The spokesman also would not elaborate on Weiner's departure and said the company is currently
preparing a press release on the resignation.
A spokeswoman for K-Tel said Weiner resigned as president in September and no longer works at
the company.
She had no comment on why K-Tel did not release the news at that time, but did say she believes the
news became public Tuesday because the company has received a lot of attention after announcing
an alliance with Playboy Enterprises Inc. (PLA) earlier.
In a proxy statement filed with the Securities & Exchange Commission on Oct. 29, K-Tel listed
Lawrence Kieves as the company president.
The filing stated that Kieves is the first cousin once removed of Chairman Philip Kives and that
Kieves joined the company in October 1998. Before joining K-Tel, Kieves was managing director of
EWK Associates, a private company engaged in real-estate development, the filing said.
Kieves is one of three directors to be elected at K-Tel's annual shareholders meeting, which will be
held on Feb. 16, 1999.
K-Tel's new president, Kieves, told Dow Jones that the company had been planning to issue a press
release announcing his predecessor's departure as well as his own appointment, but had not gotten
around to it yet.
"We should have put it out... but we weren't trying to hide anything," he said, stressing that he joined
the company only three weeks ago. "It just took a little bit of time to get it out."
The company plans to issue the release later Tuesday since the news became public earlier after
K-Tel's shares soared on the company's announced plans to develop a co-branded online music
store with Playboy.
Kieves would not comment on why Weiner left K-Tel.
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| To: Tom Hua who wrote (2654) | 11/14/1998 12:52:00 PM | | From: Brentsky | | | |
Wow Tom, thanks for all of this information on KTEL. After looking at the real KTEL and its extremely poor fundamentals, it's clear the last two weeks have been an orchestrated manipulation by KTEL.
One has to wonder how many insiders got rich? I'm pressed to imagine how the company can even stay in business with these numbers. By now, everyone knows how worthless the advertising links in Playboy and Microsoft are. In fact, those links will probably cost more than they bring in!
Let's see, multi quarters of losses, secretly replacing their president.....hmmmmmm time this bad doggy was slapped down where it belongs!!
My guess is this stock is overpriced at anything over $6.
See you at the bottom!!!!!!
Brentsky |
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| To: William Harvey who wrote (2651) | 11/14/1998 12:56:00 PM | | From: Brentsky | | | |
Yeah Wiiliam, it's time to spank this bad doggy back down where it belongs!!!!!
What do want to bet this crappy stock opens around 15 on Monday and then proceeds to head under 10. The fundamentals on KTEL are so bad, I'd guess they'll be out of business by next Spring (my opinion only) Little hard to have multiple quarters of losses and no one wanting to loan you money. Of course, the Chairman could loan money from all of the shares he probably sold at 39. lol
See you under 10!!!!!!!!!
Brentsky |
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| To: Brentsky who wrote (2656) | 11/15/1998 12:41:00 PM | | From: Tom Hua | | | |
Brent, I did a price comparison of the CDs which are being featured on
K-tel's front page (supposedly their best deals!). Here's what I came
up with. The lowest prices are bolded.
Title KTEL AMZN CDNW NTKI
------------------------------------------------------------
N Sync 15.28 12.58 12.58 13.88
Enter the Dru 16.18 12.58 12.58 12.88
These are
Special Times 16.18 12.58 12.58 13.88
Club Mix 99 15.99 14.99 12.99 15.49
Supposed Former
Infatuation Junkie 12.59 12.58 12.58 12.88
Greatest Sports
Rock and James V.3 14.99 14.99 16.49 15.49
Average 15.20 13.38 13.30 14.08
Who is going to buy from KTEL?
Regards,
Tom |
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| To: Tom Hua who wrote (2657) | 11/15/1998 4:56:00 PM | | From: Brentsky | | | |
Tom, internet sales are questionable as it is. But, one thing is for certain, price competitiveness is the key. And, as you pointed out, KTEL ain't got that either!
Who would buy a CD from KTEL?, who would loan money to KTEL?, who would go long in KTEL now?
Junk, junk, junk, we're headed back to $4 a share (which is probably overpriced) lol.
see you there!
Brent |
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| To: Brentsky who wrote (2659) | 11/16/1998 6:31:00 AM | | From: William Harvey | | | |
Brentsky,
Maybe you're right about going back to the single digits. The question is, who's going to last longer, Crown Books or Amazon? Is cutting prices really the only solution? If life was that simple, hamburgers would be eating people. It'd be a mistake to give up the due diligence you've done on KTEL. Maybe sideline this one but technically, management hasn't even started to fight.
WH |
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