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   Non-TechGENI: GenesisIntermedia.com Inc


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From: StockDung12/18/2002 6:16:37 PM
   of 574
 
Barrick Gold Corp. And J.P. Morgan Chase & Co. Accused by Blanchard and Company Of $2 Billion Illegal Gold Market Manipulation

J P Morgan Chase & Co (NYSE: JPM) 24.00 -1.02 ( -4.08%) Data as of 4:01 PM ET 12/18/02

Barrick Gold Corp. And J.P. Morgan Chase & Co. Accused by Blanchard and Company Of $2 Billion Illegal Gold Market Manipulation
- BusinessWire

NEW ORLEANS, Dec 18, 2002 (BUSINESS WIRE) -- An anti-trust lawsuit filed today accuses Barrick Gold Corp., Toronto, and J.P. Morgan Chase & Co., New York City, of "unlawfully combining to actively manipulate the price of gold" and making (US)$2 billion in short-selling profits by suppressing the price of gold at the expense of individual investors.

The suit was filed by Blanchard and Company, Inc., New Orleans, the largest retail dealer in physical gold in the United States, and by Blanchard clients who bought gold bullion. Blanchard (www.blanchardonline.com) is paying the costs of the suit, which asks the Federal Court to terminate the trading agreements between Barrick and J.P. Morgan Chase and other, as yet unnamed, bullion banks. Blanchard believes its clients suffered substantial losses as a result of Barrick's and J.P. Morgan Chase's unlawful price manipulation, anti-trust violations and unfair trade practices.

"Since the end of 1987, when the collaboration between Barrick and J.P. Morgan began, the growth of global income and wealth would have lifted the gold price to approximately $740 if the price had been able to respond to the normal laws of supply and demand," stated Blanchard's Chief Executive Officer, Donald W. Doyle, Jr. "If gold had kept pace with inflation, the price today would be approximately $760."

The lawsuit claims that in the past five years Barrick and J.P. Morgan Chase injected millions of additional ounces of gold into the market - additions that were several times as great as the annual production of every gold mine in South Africa, the largest gold producing nation in the world. By using privately negotiated derivative contracts and concealing the addition of billions of dollars worth of (physical) gold with off-balance sheet accounting, Barrick was able to make it virtually impossible for gold analysts and investors to determine the size and the market impact of its trading positions.

"The same type of accounting maze that hid Enron's debts made it possible for Barrick to manipulate the price of gold without the checks and balances that come from public scrutiny. As a percentage of Barrick's total assets, its off-balance sheet assets make Enron look like a champion of full disclosure," said Doyle. "Is Barrick a gold mining company, or is it a hedge fund with a mine out back?"

The suit alleges that J.P. Morgan Chase financed Barrick's repeated short selling with remarkably advantageous terms not available to others, including deferred repayments and no margin calls. Doyle said the short-sales scheme between the bank and Barrick appears to be the proverbial "money for nothing."

"Over the past five years, J.P. Morgan Chase loaned gold to Barrick at approximately 1.5 percent; sold the gold into the market and invested the dollar proceeds at approximately 6.5 percent; then paid both the proceeds from the sales and the 5 percent interest differential to Barrick whenever it repaid any of the borrowed gold. During a period when the price of gold dropped by more than 25%, Barrick's annual operating cash flow increased by more than 400%."

"In 1983, Barrick was a start-up with a single mine in Canada, a founder with no experience in the gold business, and principal investors from Saudi Arabia. Today, through a combination of market manipulation and a 1992 transaction that the U.S. Secretary of the Interior described as `the biggest gold heist since the days of Butch Cassidy,' Barrick has amassed off-balance sheet assets that are worth more than the market capitalizations of the next five biggest gold mining companies in the world combined," said Doyle.

Doyle explained that "Blanchard and Company was founded on the belief that gold and other tangible assets are essential to proper portfolio diversification. However, because of the illegal manipulation of its price, we advised our clients to avoid gold like the plague until such time as the free market laws of supply and demand were allowed to dictate the price. We believe that the anti-trust lawsuit filed today will stop the illegal suppression of the price of gold and other hard assets and return them to their roles as stores of value and financial insurance."

The suit was filed by the law firm of Jones, Verras & Freiberg, LLC of New Orleans in the U.S. District Court for the Eastern District of Louisiana. It is document number 02-3721 Section C, Blanchard and Company, Inc. V. Barrick Gold Corporation; J.P. Morgan Chase & Co.; and ABC Companies. A web site is being set up to provide ongoing information, www.savegold.com.

Blanchard and Company, Inc. and Save Gold
Neal R. Ryan, 888/531-4653

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From: StockDung12/23/2002 9:35:32 AM
   of 574
 
Fashionmall spurns suitors, may go out of style

NEW YORK, March 4 (Reuters) - Fashionmall.com's chief executive is a hard man
to charm. Just ask Ramy El-Batrawi, head of GenesisIntermedia, the most recent
suitor for the suddenly popular fashion Web site.

Fashionmall, which currently has a puny market value of $12.2 million, last
month rejected a $52.5 million bid from consumer products marketer
GenesisIntermedia Inc., just after it had fended off two other lower offers.

Why all the fawning? New York-based Fashionmall.com Inc. was hardly a
high-profile stock even during the height of Internet-mania. The company, which
last summer bought the assets of European e-tailing disaster Boo.com, is a
fashion Web site that connects consumers to online retailers, who pay a fee
based on site traffic.

One reason is that unlike other dot-coms, Fashionmall still has plenty of money
in the bank, making it attractive to bidders. The company has about $27 million
in cash, or about $3.60 per share -- double its current share price of $1-5/8,
according to Fashionmall's third quarter balance sheet.

"They have been efficient with marketing and cautious with what they are
spending, keeping a nice lean mean machine, and certainly that is going to be
attractive," Heather Dougherty, an analyst with Web research firm Jupiter Media
Metrix Inc.

Fashionmall's sudden popularity also may be of a different, more human, nature
-- greed. At least some of these bids appear to have been either publicity
stunts or attempts to book short-term profits, two industry sources said.

Any suitor for Fashionmall would have to mind its manners because about 46
percent of the shares are owned by CEO and founder Ben Narasin, who did not
respond to repeated phone calls for comment.

"Ben Narasin is a difficult person to pin down on selling the company," said
Rami El-Batrawi, Genesis' CEO. "We were disappointed and surprised, we thought
it was a really good offer. I don't understand the thinking behind it but you
can't fight somebody who controls the whole company."

GENESIS GETS A PERK FROM FAILED BID

El-Batrawi may be disappointed, but the merger talks appear to have turned into
a little boon for Genesis, which says it wanted to hook up Fashionmall with its
Centerlinq mall kiosks.

Genesis owned about seven percent of Fashionmall's shares when it published its
bid in a Dec. 29 press release. News of the bid caused a brief rally in
Fashionmall's shares and the stock hit its year high of $5 that day.

Genesis had bought its stake at an average price of $2.32 per share, according
to regulatory filings. Eleven days after its bid, Genesis started selling those
shares. It had sold 38 percent of its stake at an average price of $2.78 a
share by Jan 18, according to filings. Those transactions translated into a
profit of about $94,000.

On Jan. 22, Genesis said in a press release it now had sold 56 percent of its
Fashionmall holdings but that it remained committed to the deal. Genesis has
since dumped its entire Fashionmall stake, El-Batrawi said. A Genesis spokesman
was unable to say whether Genesis booked a profit or loss on the additional
sales, despite repeated requests.

The talks ended on friendly terms Feb. 7, and the companies said they were
considering a strategic partnership.

Genesis' bid came on the heels of two lower bids, which market watchers eyed
with skepticism. Internet holding company Sitestar Corp. on Oct. 23 offered
Fashionmall $3 per share. Fashionmall questioned the validity of the bid,
particularly in light of Sitestar's aborted offer to buy beleaguered Web
retailer MotherNature.com Inc., for which it cited a "lack of cooperation" from
MotherNature.

Fashionmall's and Sitestar's shares rallied more than 20 percent on the day the
bid was made. Sitestar, which owned an undisclosed amount of Fashionmall stock
when it made its bid, insists its offer was legitimate.

"Our bid was very much for real and if they were still interested and their
cash position was comparable to where it was when we made the offer we would
jump back in it in a minute," said Clinton Sallee, Sitestar president and CEO.
"The problem is you've got a 46 percent stockholder ... a proxy fight against
someone like that is a pretty futile effort."

Narasin's claim that Sitestar's bid was false was "a public posture," Sallee
told Reuters.

Then came Narax, a company that bills itself as a "Beverly Hills based M&A
firm." Narax, which did not return phone calls seeking comment, offered
Fashionmall $3.50 per share on Dec. 28 -- one day before the Genesis bid.
Narasin again said in a statement the bid wasn't legitimate, because Narax had
not approached him before trumpeting the offer in a press release.

"I believe that anyone who was truly serious about acquiring us would have
wanted to have discussions with us first," Narasin said at the time.

A BUSINESS MODEL THAT DOESN'T FIT

Narasin is fighting for Fashionmall's independence, but the firm must change
its strategy to survive, analysts say.

Fashionmall's main stumbling blocks are that it doesn't allow shoppers to
search across retailers for a specific item; it doesn't help them through the
purchase process; and it rarely forms lasting customer relationships, analysts
say.

"In many cases intermediaries like Fashionmall.com play a flash-in-the-pan
role," said Evie Black Dykema, a senior analyst at Forrester Research. "They
help consumers and retailers shake hands, but then after that they are out of
the picture because now the consumer knows about the retailer."

And Fashionmall may face competition from more traditional fashion publishers -
with well-known brand names - looking to muscle in on their space.

"They positioned the company as this fashion portal, and the opportunity was
available," said Jupiter's Dougherty. "Now a lot of the more traditional
publishing areas that focus on fashion are increasing their awareness and they
could certainly go after the same market, and they have relationships with the
advertisers Fashionmall is going after."

Fashionmall's best chance for survival may be teaming up with a well-known name
to provide back-end retail functions.

"For Fashionmall their best opportunity would be to work with a branded content
provider, and handle the back-end functions that assure the provider that the
products will actually be delivered," Forrester's Dykema said. "I really can't
say they well-prepared to do that."

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To: afrayem onigwecher who wrote (143)12/23/2002 12:02:08 PM
From: Sir Auric Goldfinger
   of 574
 
Itztak/Blevotiz/Afrayem! I am sure THE Authorities will be stopping by very soon: "Banking units embroiled in lawsuit

Deutsche Bank, Nomura subsidiaries are accused of scheme that led to failure of U.S. brokerage, KAREN HOWLETT writes

By KAREN HOWLETT


Monday, December 23, 2002 – Print Edition, Page B3

The Canadian subsidiaries of banking giants Deutsche Bank and Nomura Bank are accused of orchestrating an alleged stock lending and market manipulation scheme that led to the largest failure of a U.S. brokerage firm in 30 years, millions in losses for other brokerages, and an FBI probe into a former Nasdaq-listed company.

Deutsche Bank Securities Ltd. and employee Wayne Breedon are also accused of helping a small U.S. broker dealer that was a key player in the scheme to falsify its financial statements so it could stay in business, recently unsealed court documents show.

The tangled tale features Saudi arms dealer Adnan Khashoggi and his business partner Ramy El-Batrawi; a convicted stock-loan felon Kenneth D'Angelo; and hundreds of hours of tape-recorded phone conversations describing the alleged market manipulations.

The trustee for MJK Clearing Inc., a Minneapolis stockbrokerage that collapsed in September, 2001, is seeking to recover more than $335-million (U.S.) in damages from several individuals and companies, including Deutsche Bank, Mr. Khashoggi and Mr. El-Batrawi, according to its amended complaint filed in U.S. Bankruptcy Court, District of Minnesota.

Deutsche Bank has not yet filed a defence and none of the allegations have been proved in court. "We basically can't comment on pending litigation," spokesman Ted Meyer said.

Nomura is not named in the government-appointed trustee's complaint. It is being sued along with Deutsche Bank by E-Trade Securities Inc., which claims to be the second-biggest victim of the scheme after MJK.

"We totally refute the suggestion that we have any liability whatsoever relating to the demise of MJK," Nomura spokeswoman Susan Atran said. In fact, the bank has launched its own lawsuit against E-Trade, claiming the firm owes it $10-million.

Mark Dworsky, a lawyer for E-Trade, declined to comment.

The case involves the alleged price manipulation of three separate companies' securities over a two-year period beginning in the summer of 1999. The securities were allegedly dumped on MJK and other brokerages at vastly inflated prices.

The trustee for MJK alleges that the scheme was financed by Deutsche Bank and orchestrated by three long-time friends: Mr. Breedon, head of stock lending in Deutsche Bank Securities' Toronto office, who is now on administrative leave; convicted stock-loan felon Mr. D'Angelo; and Richard Evangelista, then senior manager of a small brokerage known as Native Nations Securities Inc.

Mr. Khashoggi's involvement was through his Bermuda investment company, Ultimate Holdings Ltd., which provided shares of a Los Angeles-based telemarketer called GenesisIntermedia Inc. for the stock-loan transactions. Genesis is now under investigation by securities regulators and the FBI. Mr. Khashoggi, a fugitive from justice, is wanted by Thai police on suspicion of embezzling $64-million from the failed Bangkok Bank of Commerce in 1996.

The case has attracted much interest on Bay Street because of the way the players allegedly took an ostensibly innocuous activity -- stock lending -- and stood it on its head, said a compliance executive at a major firm.

Deutsche Bank's Mr. Breedon and his associates allegedly co-ordinated stock loan transactions with dozens of American and Canadian brokerage firms, including CIBC World Markets and National Bank Financial. Sources said the two Canadian firms were not among the losers.

None of these firms would have had any reason to suspect that anything was allegedly amiss when they got the call to lend or borrow stock, the compliance officer said. Brokerage firms routinely borrow hundreds of millions of shares from each other every business day to cover short positions, or provide liquidity for the markets.

According to the court documents, the scheme began in the summer of 1999 with the initial public offering of Genesis on the Nasdaq Stock Market. While two million shares were purportedly sold to the public at $8.50 each, the shares never really left Mr. El-Batrawi's control, the trustee alleges.

Mr. El-Batrawi and Ultimate Holdings lent millions of Genesis shares to Deutsche Bank via Native Nations and MJK, according to the complaint. In exchange for the securities, Deutsche Bank sent cash to Mr. El-Batrawi and Ultimate through the other brokerages. The transactions were simply a way to turn stock owned by Mr. Khashoggi and Mr. El-Batrawi into cash, the trustee alleges.

Once most of the stock was at Deutsche Bank and out of public circulation. Mr. El-Batrawi allegedly engaged in a flurry of buying and selling to make it appear there was genuine interest in the stock.

Mr. Breedon was in almost daily phone contact with Mr. D'Angelo discussing Genesis' stock price, according to transcripts of taped calls filed in the courts. "I made sure, yeah, I made sure it didn't go over 17," Mr. D'Angelo tells him in early November, 2000. "We're gonna be much higher next week. . . . To get everything done. He's gonna push the stock up a quarter of a point or half a point every day," Mr. D'Angelo says another day, referring to Mr. El-Batrawi.

By Dec. 31, 2000, Deutsche Bank was holding five million Genesis shares, more than 80 per cent of the entire float. But by lending the shares to MJK and other brokerages, Mr. Breedon and his associates could have these unsuspecting firms keep advancing more cash as collateral for the shares as the price increased. In that way, the brokerages became unwitting buyers at inflated prices and the trio did not have to unload the shares into the market.

(A brokerage borrows stock from another firm in return for cash collateral equal to the market value of the stock. As the price fluctuates while the stock is on loan, the brokerages engage in a process called marking to market. If the stock goes up that day, the borrowing brokerage sends more cash to the lender. If the value goes down, the lending brokerage returns cash to the borrower.)

During the nearly two-year period that Genesis was allegedly being manipulated, Deutsche Bank also propped up Native Nations with monthly cash infusions that permitted the firm to stay in business, the trustee's complaint alleges.

Deutsche Bank sent large amounts of cash to Native Nations at or near month-end and then took the money back at the beginning of the following month, it alleges, adding that the cash provided the "window dressing" Native Nations needed to falsify its financial statements.

Eventually, the scheme collapsed following the Sept. 11 terrorist attacks, when the "market rigging" of Genesis' stock price could no longer be sustained, the trustee's complaint alleges. Native Nations went out of business, taking MJK down with it.

Genesis' stock price began plummeting after reaching a peak of $60. Nasdaq suspended trading in Genesis' shares on Sept. 25, 2001, following the company's disclosure that the U.S. Securities and Exchange Commission had launched a formal investigation and the Federal Bureau of Investigation had interviewed two former employees, the first indication of a criminal probe. Mr. El-Batrawi stepped down as chairman and chief executive officer of Genesis in October, 2001. Genesis was delisted from Nasdaq on Jan. 29, 2002, and now trades over the counter for pennies a share.

When the stock price dropped, Deutsche Bank got its cash collateral back from the brokers, eventually leaving MJK and other intermediate brokers "holding the proverbial bag filled with virtually worthless securities," the trustee's complaint alleges. It also made at least $7-million in fees.

The trustee accuses Deutsche Bank's senior management of deliberately ignoring various details about the alleged scheme that came to their attention several times in 2001.

Mr. Breedon had no immediate supervisors in Deutsche Bank Securities' Toronto office during most of 2001, thus making him the de facto head of the firm's securities lending in its Canadian subsidiary.

The implosion of Genesis' stock price has led to a flurry of lawsuits and countersuits. The trustee is suing former officers of MJK for negligence, breach of fiduciary duty and mismanagement. It is acting on behalf of the Securities Investor Protection Corp., which is in the process of liquidating MJK, the largest rescue in the agency's 30-year history.

globeandmail.com

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To: Sir Auric Goldfinger who wrote (494)12/23/2002 6:20:00 PM
From: afrayem onigwecher
   of 574
 
profiles.yahoo.com

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From: StockDung12/27/2002 11:06:04 AM
   of 574
 
"MEDICAL AND FASHION CABLE CHANNELS PLANNED

It may be almost impossible to launch a new cable channel in today's
environment, but Ramy El-Batrawi, president and CEO of Genesis Media
Group, Inc., of Miami, is going to try. While no mention has been made of
any cable operators expressing interest, Genesis has contracted with Home
Shopping Network to use their uplink facilities to Galaxy 7, for two new
channels. The Medical Channel will offer such esoteric fare as "medical
sitcoms, news, informative programs on virtually all common ailments,
graphic medical procedures, first aid instruction, mental health, human
behavior and live call-in talkshows with experts in every field of
medicine." The new fashion network is dubbed The Fashion and Beauty
Network, dubbed FAB-TV. (Young Anthony Guccione, son of Bob Sr., is trying
to launch a fashion channel called FAD-TV, and we hear a lawsuit in the
making.) The channel, according to Genesis, "propels the viewer into the
fast-paced international fashion world. Viewers will rub elbows with `the
beautiful people' and share this extraordinary lifestyle through the magic
of Cable Television." (We're not making this up, the release came this
way). "FAB-TV will feature all the latest runway shows, fashion news, all
the inside gossip, talkshows, home fashion shopping, beauty tips and `how
to' seminars from fashion and beauty experts around the world," Genesis
boasts, adding that it will broadcast live from Miami's South Beach, "with
some of the world's top celebrities as guests." Jill St. John, a job
awaits."

From: MediaSeven (mediaseven@aol.com)
Subject: INSIDE MEDIA REPORTS 7/6/94
This is the only article in this thread
View: Original Format
Newsgroups: rec.video.cable-tv
Date: 1994-07-06 07:40:26 PST


This is Inside Media Reports, a regular update of TV and cable-related
news from Inside Media, a biweekly business magazine covering the world of
media. Inside Media Online is also offered on America Online, keyword
Inside Media. For more information, contact John Motavalli at
MediaSeven@aol.com.

ALL STAR GAME A HIT WITH ADVERTISERS
By Mike Reynolds

With Major League Baseball's All-Star Game now just a week away (July 12),
The Baseball Network is closing the door on the handful of advertising
spots that remain in NBC's coverage of the Mid-Summer Classic from
Pittsburgh's Three Rivers Stadium. Media buyers report that recent
purchases from movie studios, Nike (four 30-second spots), Reebok and
Orkin have left TBN, the joint venture comprising NBC/ABC and MLB that was
created in May 1993 to peddle advertising/sponsorships, with only two or
three units to sell in the contest. For the most part, TBN has been able
to hold the line on its pricing gameplan, scoring about $300,000 per :30.
TBN officials were not immediately available for comment. For Orkin, the
Atlanta-based marketer of pest- control products, the 30-second spot it
bought on the All-Star Game will mark its first network commercial in a
decade, according to Bruce McTague, vice president, account supervisor at
J. Walter Thompson, Atlanta. "Orkin has used some sports in the past, with
spot TV and radio in major markets, but most of its consumer base is
women. However, there is a very high cross-over in terms of women watching
the All-Star Game," says McTague in explaining the client's strategy. "In
addition to getting the message to a lot of consumers, Orkin's sales force
has an internal promotion, so the Game is the right vehicle for the middle
of the year."

TCI, AT&T, US WEST DECLARE VOD TEST A SUCCESS
The powerful information superhighway combination of AT&T, TCI, and US
West have proclaimed their cooperative market trial of video-on-demand and
enhanced pay-per-view services, concluded June 30, a success. The
companies said the VCTV (Viewer-Controlled Cable Television) test had
achieved the goals set for it: "to gather data and consumer insight on how
consumers use these services, called Take One and Hits at Home; how often
they use them; what features of the services they find most convenient.
The companies also disclosed that they will release a final report on the
VCTC trial in the next several months, following an analysis of the
second-phase data. Phase One of the trial, which offered Hits at Home and
Take One seperately to 150 homes each, began in July 1992. Phase Two,
which provided all 300 customer homes with both services, began in July
1993. In November 1993, the companies reported some of the results from
the first phase, including a usage rate of both services at 1w times the
national PPV buy rate, as projected by Paul Kagan Associates. TCI and AT&T
are exploring the possibility of testing additional modifications to the
services.

MEDICAL AND FASHION CABLE CHANNELS PLANNED
It may be almost impossible to launch a new cable channel in today's
environment, but Ramy El-Batrawi, president and CEO of Genesis Media
Group, Inc., of Miami, is going to try. While no mention has been made of
any cable operators expressing interest, Genesis has contracted with Home
Shopping Network to use their uplink facilities to Galaxy 7, for two new
channels. The Medical Channel will offer such esoteric fare as "medical
sitcoms, news, informative programs on virtually all common ailments,
graphic medical procedures, first aid instruction, mental health, human
behavior and live call-in talkshows with experts in every field of
medicine." The new fashion network is dubbed The Fashion and Beauty
Network, dubbed FAB-TV. (Young Anthony Guccione, son of Bob Sr., is trying
to launch a fashion channel called FAD-TV, and we hear a lawsuit in the
making.) The channel, according to Genesis, "propels the viewer into the
fast-paced international fashion world. Viewers will rub elbows with `the
beautiful people' and share this extraordinary lifestyle through the magic
of Cable Television." (We're not making this up, the release came this
way). "FAB-TV will feature all the latest runway shows, fashion news, all
the inside gossip, talkshows, home fashion shopping, beauty tips and `how
to' seminars from fashion and beauty experts around the world," Genesis
boasts, adding that it will broadcast live from Miami's South Beach, "with
some of the world's top celebrities as guests." Jill St. John, a job
awaits.

USA'S BRAUN JOINS TURNER
Bruce Braun, Western regional vice president of ad sales at USA Network,
has resigned to join Turner Entertainment Networks as vice president, West
Coast national sales manager. Braun, who has long been active in the L.A.
ad community, joined USA 10 years ago this month. He previously was a
regional vp at Showtime/The Movie Channel, and has a long background in
radio at CBS.

Copyright 1994, Cowles Business Media, Inc.

Transmitted: 94-07-05 16:11:01 EDT

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From: StockDung1/17/2003 2:13:11 PM
   of 574
 
Holiday RV/Delisting: Restructuring Ops Since Sept>RVEE
Tuesday December 24, 10:36 am ET

LINCOLNSHIRE, Ill. (Dow Jones)--Holiday RV Superstores Inc. received a Nasdaq determination that its shares are subject to delisting, pending appeal, because the company failed to comply with shareholder-equity and market-value requirements.
In a press release Tuesday, the company said it requested a hearing before the Nasdaq listing qualifications panel to appeal the determination and seek continued listing.

In September, after receiving notice from Nasdaq that it didn't comply with certain listing requirements, Holiday RV disclosed a restructuring of operations, including debt conversion and equity infusion, but no layoffs or job cuts.

In late November, the company agreed to buy recreational vehicle operator Holiday Kamper and Boats, while selling its RV dealership in Bakersfield, Calif., in an attempt to refocus its operations.

Nasdaq trading in shares of the company, which has about 900,000 shares outstanding, Holiday RV closed Monday down 23 cents, or 12.9%, at $1.55. The stock traded at a 52-week low of 19 cents July 2, and traded at a 52-week high of $3.75 Aug. 9.

Company Web site: recusa.com

-Jason Philyaw; Dow Jones Newswires; 201-938-5400

Dow Jones Newswires
12-24-02 1036ET

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From: StockDung2/7/2003 3:51:33 PM
   of 574
 
How Libya tried to tempt Labour with cash

How Libya tried to tempt Labour with donation

Angelique Chrisafis
Wednesday January 22, 2003
The Guardian

Libya secretly offered a huge donation to the cash-strapped Labour party as part of its attempts to end its international isolation, the Guardian can disclose. Ministerial sources say the Libyan proposal was instantly rejected.

But a Guardian investigation has uncovered other recent attempts by Libya to use back channels to get close to Labour politicians.

These include an offer of lucrative deals with the arms company BAE Systems, and a plan to publish a biography of Colonel Gadafy in Britain.

Libya's offer of an enormous donation came at a time when Labour had a £10m deficit last September. It originated from Ahmed Gadaff Al Daim, Col Gadafy's cousin and a senior figure in the regime, and was passed to the Labour peer, Lord Evans of Temple Guiting, by a London-based businessman, Wolfgang Michel.

Lord Evans rejected the offer out of hand and informed the party's general secretary, David Triesman. "The proposal was absolutely ridiculous," said a Labour source. "Even if foreign donations were not outlawed, we never would have considered it. The Libyans want to rub shoulders with British politicians and seemed to think this was a way."

A number of Libya's approaches have been made through Mr Michel. The German-born 74-year-old, who lives in Chelsea, describes himself as an agent on hi-tech international deals.

Mr Michel has done business deals with many of the world's most controversial regimes, including Iraq, Russia and Iran.

According to his associates, Mr Michel sought to arrange a 1998 meeting between the Libyans and Labour politicians. Libya was secretly offering £6bn-worth of aviation deals in return for the permanent lifting of sanctions.

Mr Michel sought to use as an intermediary Matthew Evans, the Labour peer and former chairman of the publishers Faber and Faber. Lord Evans is Mr Michel's son-in-law and was recruited to the Blair government in December as a whip.

Separately, confidential talks did eventually get off the ground between BAE, Britain's biggest arms manufacturer, UK officials, and Mr Gadaff Al Daim on behalf of Libya, with meetings in Switzerland and London. But they remained inconclusive.

The two countries are continuing to edge closer. Last August, the Foreign Office minister Mike O'Brien flew to Tripoli to meet Col Gadafy in the first such encounter for 20 years.

Sources at Faber and Faber say Mr Michel suggested the firm publish a biography of Col Gadafy. But Lord Evans told the Guardian he rejected the deal in September 2001.

"I went to a meeting with Ahmed Gadaff Al Daim who wished to talk about a biography about his cousin. I made the point it would have to deal with Lockerbie and the regime's funding of terrorism. After discussion with my colleagues at Faber, we decided not to pursue the idea."

Mr Michel confirmed that he had raised "a possible publishing opportunity". But he told the Guardian that he did it on his own account, "not on behalf of Ahmet Gadaff Al Daim".

Government sources say Lord Evans has been meticulous in disclosing his family connections, and that he has kept Wolfgang Michel and his Libyan link "at arm's length". Lord Evans' government job does not involve defence or international issues, they point out.

Mr Gadaff Al Daim first received unwelcome publicity in 1989, when the former international call girl Pamella Bordes said she had had a long affair with him while he was negotiating commercial tie-ups between Libya and the Italian car firm Fiat.

Mr Gadaff Al Daim, approached through the Libyan embassy in London, last week did not respond to invitations to comment.

Mr Michel, who said he knew Mr Gadaff Al Daim, cloaks his business affairs in mystery via a Liechtenstein offshore trust. Records show a UK investment company ultimately controlled by him - Entera Corporation - has brought into Britain more than £2m in commissions earned from India.

Associates say he has acted to sell arms on behalf of Russia, but Mr Michel denied this. He said he had "negotiated legitimate sales of civil aircraft to India". He points out his commissions include earnings from the export of jute.

Company records show he also has a business link with the French state-owned aero engine company Snecma, which powers Mirage fighters, the Airbus, and Russian trainers. Mr Michel denies he has been their agent.

Questions have been raised as to whether he was involved in negotiations to sell Mirage fighters to Saddam Hussein in Iraq - a deal promoted by the French government which collapsed in 1990 when Iraq invaded Kuwait.

Mr Michel said he had visited Iraq once but not in that period. He agreed he had concluded agricultural deals with the Iranians in the company of such controversial figures as the Saudi arms dealer Adnan Khashoggi, and the late tycoon Tiny Rowland. Mr Michel's lawyer emphasised last week he had not been involved in any improper or illegal military sales or business dealings.

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To: StockDung who wrote (498)2/24/2003 5:48:55 PM
From: trueblood986
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Front Page
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Kamputech to Provide Digital Programming for Private Cable Operators And Franchises

EATONTOWN, N.J., Feb. 19 /PRNewswire/ -- Kamputech Inc. (Kamputech) today
announced that it has entered into agreements with providers to continue
service on T-6 and G4R to its customers. WSNet had through its written
statement dated February 11, 2003 stated that it will terminate its operations
on Feb. 28, 2003 at 12:00 Midnight (EST). This termination would have caused
serious disruption in service to private cable operators and others dependent
upon WSNet platform.
Kamputech intends to provide service on the T-6 and G4R to customers
currently receiving the service from WSNet. Kamputech has entered into
agreements with providers for encoding, uplinking, and transmission to
customers on the T-6 and G4R satellites, allowing private and franchise cable
operators to offer complete digital programming.
"We wanted to ensure that Cable Operators continue to provide the level of
service to their customers without any interruption in service. Every effort
will be made to continue the same level of service and programming. Our
company is in the processes of completing programming rights," said Khalid
Adnan, chief executive officer, Kamputech.
"Our goal is to allow the cable operators to continue using their existing
infrastructure without any changes in receivers or dishes thus maintaining
their service level agreements with their customers, without incurring
additional capital expenditures," said Thomas Kurien, President of Kamputech.

About Kamputech
Kamputech offers competitive analog and digital satellite television
programming solutions to private and franchise cable systems in the U.S.
Kamputech is a privately held company based in Eatontown, New Jersey and
involved in Telecom integration and network since 1984.

This release includes forward-looking statements and projections, made in
reliance on the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. The company has made every reasonable effort to ensure
that the information and assumptions on which these statements and projections
are based are current, reasonable, and complete. While the company makes
these statements and projections in good faith, neither the company nor its
management can guarantee that anticipated future results will be achieved.







Top Front Page About Miami Today Put Your Message in Miami Today Contact Miami Today

© Copyright 2000 Miami Today
designed and produced by Green Dot Graphics Resources

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To: trueblood986 who wrote (499)4/16/2003 9:40:03 PM
From: trueblood986
   of 574
 
Satview LLC, Reno based broadband company, just completed its installation of cable television to a dedicated facility in Reno, Nevada. The company provides custom designed programming for its clients. At its new property it is providing Spanish language programming designed specifically for Hispanics. This results in a switch over from Charter to Satview. Satview is owned 50% by Pacific Energy and Mining Company.
Pacific Energy and Mining Company, symbol (PEMC) is owned 80% by Kamputech Inc. A New Jersey based technology company.

Tariq Ahmad is Vice President Engineering.
Jerry Kumar is President of Satview LLC

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To: afrayem onigwecher who wrote (495)4/22/2003 10:38:55 AM
From: StockDung
   of 574
 
.HOOKERS AND ADNAN "HONEY" KHASHOGGI

"She was also friendly with multi- millionaire arms dealer Adnan Khashoggi, who was one of her biggest clients and liked her to call him "Honey"."

"Adnan Khashoggi called her regularly to ask for girls and he loved being called `Honey'. He would even refer to himself by that name."

THE AMAZING FALL OF HIGH SOCIETY VICE PRINCESS

Madam to the super-rich now lives in a Scots council flat

Derek Alexander Exclusive

SHE was the high-society vice princess who led a champagne lifestyle and mingled with Royalty.

Blonde Zoe Paine's little red book was like a directory of the British aristocracy and provided the rich and famous with high-class hookers.

She counted Princess Diana's brother Earl Spencer as a friend and rubbed shoulders with criminal Darius Guppy.

But ex-society madam Paine's existence is now a million miles away from that of her powerful and flamboyant friends.

The mum is now broke and living on benefits in a Glasgow housing scheme.

The designer-label clothes have been swapped for a worn T-shirt, denims and trainers.

Her new home is a council flat in the city's Carmyle, instead of the £250,000 village home she had in High Wycombe, Bucks.

Glasgow-born Paine ran the Diplomat escort agency in London in the 90s and was the boss of dozens of prostitutes.

Her agency was a favourite with the jet set and her girls charged Hooray Henrys £1000 per night for their steamy services.

Many of her prostitutes would accompany Diplomat's wealthy clients on foreign sex and drug trips.

Paine raked in thousands of pounds each week from her international prostitution empire.

She was also friendly with multi- millionaire arms dealer Adnan Khashoggi, who was one of her biggest clients and liked her to call him "Honey".

She once boasted that one of her clients was a world leader from the Middle East.

But her decadent lifestyle has now collapsed and she's now living on £53.95-a-week income support from the Government.

Mum-of-two Paine was raised in Glasgow before moving south of the border. Her Scots accent has been replaced with a high-pitch Cockney chirp.

Friends say she is writing a book about her sexploits and is looking for a publisher.

A friend said: "Zoe's agency was the most popular in London. Diplomat's clients wanted a certain type of girl.

"The girls were educated and many had their own professional careers away from being call girls. It's easy to see why so many men in powerful positions would use Zoe.

"But it's changed days for her now. She doesn't have a job and scrapes by on benefits. It's hard to believe she used to keep company with Earl Spencer and other rich and famous people. She got on well with them and didn't look out of place. Zoe was never a prostitute and was motivated purely by making money out of running the business.

"But things have gone sour for her and the people she once socialised with would be shocked to see her life now.

"She's spent time writing a book about her life. It will leave a lot of her former clients in a sweat.

"Adnan Khashoggi called her regularly to ask for girls and he loved being called `Honey'. He would even refer to himself by that name."

Paine was a close friend of inter-national fraudster Darius Guppy and attended his wedding to Patricia Holder.

She was also on the guest list for Earl Spencer's marriage ceremony when he tied the knot with model Victoria Lockwood. Friends say the Earl was shocked when he discovered Paine led a secret life as a madam.

Guppy was jailed for five years when he was found guilty of a £1.8 million diamond sting. He paid a man £15,000 to stage a robbery in a New York hotel room and then lodged an insurance claim with Lloyd's.

But he was caught a year later and sent to prison when accomplice Peter Risdon told police about the plot.

Paine's Diplomat Agency was at the centre of a murder inquiry when one of her girls was murdered.

Sharon Hoare, 19, was found strangled in a London flat in 1991.

A murder squad detective was carpeted by Scotland Yard when he made sexual suggestions to a woman helping with the investigation.

When the Sunday Mail approached Paine, she said: "I'm broke and I don't have the same lifestyle I used to.

"But I still have the same friends and know of a lot of secrets belonging to a lot of powerful people.

"I'm not involved in the vice industry any more. I just want to come back to my roots."

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