In the Business of Building Your Business. Investors Capital Holdings (see our company profile in this issue) is a diversified financial services holding company that owns and operates three subsidiaries: Investors Capital Corporation, a nationally recognized, independent broker-dealer; Eastern Point Advisors, Inc., a registered investment advisory firm; and ICC Insurance Agency, Inc., a full-service firm that offers life, disability, long-term care, and health insurance. We continue to grow revenue through our subsidiaries, while earning important industry validation . We invite you to take a look at Investors Capital Holdings (AMEX: ICH).
#11 "Biggest financial services companies by revenue" (The Boston Globe, May 20, 2003)
"Top 100 return on equity" (The Boston Globe, June 2, 2003}
#6 Revenue Growth (Financial Planning, June 2003)
#1 Client Account Growth (Financial Planning, June 2003}
#3 "Largest Brokerage Firms, Massachusetts" (Boston Business Journal, July 25, 2003)
Broker/Dealer of the Year (Investment Advisor, 2000 and 2001)
How 15,000 publicly traded companies fell off the face of the investment world and what we plan to do about it Let me thank you for your interest in the premiere issue of ValueRich magazine. Our goal is simple: We want to help businesses do business. We w ill introduce them to the very people who can help accompl ish their goals without the burden of hiring high-priced representation. Our publication may be in direct conflict with the practices of some of my associates, friends and even clients, but we are not trying to win a popularity contest. We are taking the initiative to be the changing force in an industry suffering under an antiquated culture and misguided values. I am betting that Va lueR ich w ill someday be a common element in every investment professional's game plan. Recently, regulatory accounting and lega l changes in and around Wa ll Street have taken their toll. Any public company that is still in business after the last four years deserves to be congratulated. More than 90 percent of today's 15,000 pub licly traded companies get little or no attention from Wall Street. In today's high-tech, internet-based world, mountains of information can be shared across the planet in seconds. Yet, until today, there was no way for a sma ll company to broadcast an inexpens ive and effective message about its business or banking needs to the investment comm unity. As an investment banker, I t ravel the world and meet w ith repre sentatives from thousands of companies. They are crying out for assistance on everyth ing from rai sing basic capital to finding an international partner to help expand the growth of their unique product or service. In response to this need, I have envisioned a publication that will offer underfol lowed and underserved public compan ies a new channel through which to commun icate information and business objectives. Public Company Profiles appearing in Va/ueRich magazine w ill provide the perfect format for them to clearly state their business and investment banking needs. These profiles are designed to be easily reviewed based on whether the company is seeking capital, mergers and acquisitions, partnersh ips, joint ventures, market support services, business development contacts, or the sa le of the company.
ValueRich magazine is the focal point where money and ideas connect. A high qua lity coffee-table magazine with a unique blend of lifestyle and business articles, ValueRich magazine wi ll offer great reading in the corporate lobby, on the road, or at home. It wi ll be circulated worldw ide to ten s of thousands of public company officers, investment bankers, money managers, attorneys, accountants and business consu ltants who potentia lly hold the key to success for deserving compa nies. Up-to-the-minute information about profi led companies is also ava ilable on our website at wwwvaluerichonline.com. In preparing the profi les for this first issue, we have already established productive business relationships w ith several outstanding compan ies. No doubt some of these underfollowed gems w ill help shape the future, as they become the giants of tomorrow. I very much hope you participate in and enjoy our ambitious venture. I am extremely interested in your ideas and comments. Please feel free to e-ma il me at jcv2000@bell south.net
Sincerely, Joseph C. Visconti President and CEO, Va lueRich, Inc.
4 ValueRich Magazine
The Westoort 路-Deck Motorvacht
Welcome to ValueRich magazine - It's all about you Listening to investment banker Joseph Visconti tell me his idea for a new magazine, I realized he had it bad. I recognized the symptoms. He was an entrepreneur with an IDEAl His idea was to create a publication that would offer smal l public companies, currently being ignored by Wa ll Street, a line of communication to the investment banking world. He already had a name for it ValueRich magazine. It didn't take long for me to understand that Joseph had discovered a gaping hole in the marketplace. Significant needs were not being met. The more I listened, the more it became evident that th is venture had great potential for success. Not just publishing success, but success for everyone involved - public compan ies, investment professionals: win, win, win. He wa nted to jump-start an entire dormant economy. "I can't believe you get this," he exclaimed at one point. I got it, all right. Internet profiles are the only way that these compan ies cu rrently have any market presence. Unfortunately, on line profiles are a passive presentation. Unable to reach out, companies must wait to be discovered.The web presents other problems as well: The internet may have stream li ned the way we facilitate business, but it is a terrible place to bu ild relationships. This is partly because web browsing actua lly train s users to be fickle. The web is short-attention-span theater. Magazines are different. When you pick one up, it becomes a possession. When you share one with someone else, it is a treasu re. Readers develop personal relationships with magazines. Magazines build commun ities. ValueRich magazine is the ideal way to build a comm unity for sma ll companies and investment bankers. ValueRich Public Company Profiles are the purpose and energy behind our publication. Viewing the co llection in this premiere issue, I'm struck by the breadth of entrepreneurial ideas they represent. Read ing the compan ies' business objectives and strategies, I get a sense of how success or failure can pivot on a simple turn of events.These profiles are just as interesting, and more genuine, than anything you'll see on rea lity TV. Business is life - dreams made true by serendipity, tenacity and ethics. Every product has a story. Art and fashion are expressions of our free-market society. The articles in ValueRich magazine explore these connections. Some might ca ll ValueRich a lifestyle magazine. You cou ld just as easily ca ll it a bizstyle magazine. From Hollywood icon Clint Eastwood and partner Nancy Haley's golf-inspired multi-million-dollar fashion company to singer Jimmy Buffett and yacht bui lder Rybovich's "Margaritavich" sportfishing boat venture to the story of Henry Ka llan, immigrant bus-boy from Czechoslovakia who today owns and operates five of Manhattan's trendiest boutique hotels, this fi rst issue of Va!ueRich magazine showcases the entrepreneu ria I dream-come-true. There is a seamless relationship between the articles in ValueRich magazine and its readers. ValueRich readers are as motivated and adventurous in life as they are in the pursuit of business. Every issue of Va!ueRich wi ll be full of articles about finding the best, making the most, and living life to the fullest. We hope that once you've read this issue you will choose to subscribe. We also hope that someday we can assist you in achieving your business goals. Welcome to Va!ueRich magazine, where we like to "Thi nk Small-cap, Live Large."
9~
David A. Willson Editor in Chief, ValueRich Magazine
6 ValueRich Magazine
THINK SMALL-CAP, LIVE LARGE
•
,
...
~
I
'II
56 i.Want.1
2
6 Stuff: Ride , burn,
Cover
n.Design
n.Motion
46Tehama:
6 The Secret Designs of Nick Mongiardo:
6
snap , read , wear, conve ne - Check th is stuff
A Hollywood icon 's fashion bra nd takes off .
out. You'll want some.
Clint Eastwood and Nancy
3
4 Business + Pleasure= iPod:
Business rocks. Apple's popular music player is easily converted to a business multi-tool.
Now they are turning the
Armani, Karan and others want to keep him al l to t hemselves.
leisure fash ion industry every
Too bad for them! We're
which way but loose. By David Willson
blowing his cover in
Haley met on the golf course.
n.Business
12
Making the Right 404 Compliance Choices Sarbanes-Oxley: Accounting Perspective
PCPS chairman and top CPA Richard Caturano examines the th ree choices CFOs face in preparing for a Section 404 audit.
Perception is as Important as Reality 16 Sarbanes-Oxley: Director's Perspective ABA, NASD Corporate Financing Rules subcomm ittee member and attorney Ralph V. De Martino on how to win friends of auditors and influence judges. 8 Valu eRich Magazin e
5
ValueRich magazine. By Jenny Wonderling
74
7
The Va lue Ferrari:
You don 't have to be a millionaire to own the world's most coveted car. By Michael T. lynch
7
4 Mercedes SLR Mclaren:
Sex and violence on t he open road.
88
Rybovich Sportfishing Yachts: The Rybovich company practical ly invented sportfish i ng. Now they have teamed up with tropica l troubadour Jimmy Buffett to build the ultimate Caribbean cruiser. By David Willson
PREMIERE ISSUE
n.Town
x. Peditions
What Makes Henry Run? HK Hotels founder Henry Kallan started his career as a busboy. Now
11o
a.Toast
Xtreme Winter Adventures: Time to take a powder.
118Todd English: The celebrity chef is on a roll.
Rev1ew of a seduct ive CD. World
Hot deals for cool winter fun.
Restaurants, books, TV and
music diva Susheela Raman's
1o4
he owns and operates five of Manhattan's top boutique hotels- including the new Meatpacking District beacon, Hotel Gansevoort By Ellen Bainer
n.SP-iration
124
Love Trap:
n.Ciosing 128Godsand Generals: What 's wrong with the market? Investors are at
By Ellen Bainer
now a featured spot on the
music will capture your heart.
114
war with each other in an
Queen Mary 2.
By Tom Orr
aimless and leaderless
Defy Gravity: Learn from a champion. World wake-
12
board champ Darin Shapiro's
osinful Zins: Four great zinfandels. A tasting tour
intense ski school.
of some exceptional north-
By Will Andrews
ern Cal iforn ia wineries. By Greg Allikas
market. By Charles V. Payne
Cover photo of Clint Eastwood by Robert Walker
Valu eRich Magazin e 9
VALUERICH
THINK SMALL-CAP. LIVE LARGE
Joseph C. Visconti President & CEO Jcv2000@bellsouth.net David A. Wil lson Editor-in-chief dwillson@mac.com
BMW, Mercedes-Benz, Porsche, Jaguar, Lexus, Rolls Royce, Bentley Sales & Rentals
Contributing Editors Ellen Bainer Catharine S. Rambeau Karen Willson Contributors Greg Allikas Michael T. Lynch Tom Orr Charles V. Payne Jenny Wonderling Advertising Executive Kim J.Armstrong kjavaluerich@bellsouth.net Public Company Profiles Brandyce Stephenson valuerichbhs@adelphia.net Michael McCarthy michael@mccarthy.net Corporate Development Advertising/Public Company Profiles
Ashley Sosner asosner@bellsouth.net Director of Global Affairs Roxane E. West 1-214-244-6400, 1-2 12-956-2461 Special thanks to: Theodore Charles, CEO Timothy Murphy Investor Capital Holdings Ltd.
SINCE 1909 AUTHORIZED DEALER
Richard J. Caturano, President Jill Hullsen Vitale, Caturano & Co., PC Ralph V. De Martino, Esq. Julie Meyer Dilworth Paxon LLP
Now taking orders for the 2005 AeroB- The New Generation of Morgan. Plus, we have a few of the very last PlusB 35th Anniversary Edition to ever be built. Available Dec; Jan.
WingYu CEO, FinanciaiContent, Inc. http)/www.ftnancia lcontent.com 650.837.9850 Copyright 2004 byValueRich,lnc.AII rights reserved. ValueRich magazine is published six times a year. Reproduaion without the permission of the publisher is prohibited. The publisher and editors are not responsible for unsolicited material and it
will be treated as unconditionally assigned for publication subjea to ValueRich magazine's right to edit. Return postage must accompany all manuscripts, photographs and drawings. Every effort has been made to assure that all information presented in this issue is accurate, and neither ValueRich magazine or any of its staff is responsible for omissions or information that has been misrepresented to the magazine. ValueRich, Inc. P. 0. Box 962, Palm Beach, FL 33401 561 -832-8878, Fax: 561-841-1524 www.valuerichonline.com
10 Va lueRi ch Magazine
Big 4 expertise with responsive, flexible service.
Sarbanes Oxley Compliance Internal and External Audit Transactional Planning Individual & Entity Taxation Federal, Multistate &International Tax Intercompany Transfer Pricing Cost Segregation Wealth Management Technology
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We offer the power and expertise of many years of experience working with medium to large public and private companies. Our partners and senior staff members, some of whom have joined us from the former Boston office of Arthur Andersen, have the intellectual capital you need, the understanding of your cost
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Whatever your needs, we can provide the service that is right for you.
VITALE, CATURANO &. COMPANY rc
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THE. LARGEST REGIONAL ACCOUNTING FIRM IN NE.W ENGLAND
"
80 City Square, Boston , Massachusetts 02129
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617 • 912 • 9000
an Independent Member of Baker Tilly lntemational
www.vitale.com
n.Business
THE ACCOUNTING PERSPECTIVE
The Right Choices are Crucial for Complying With Sarbanes-Oxley When Congress passed the Sarbanes-Oxley Act of 2002, no one would argue with its main intent -
to protect investors from
meltdowns on the scale of Enron and Worldcom. Yet the Act has requ ired hundreds of hours and bi llions of dollars for comp liance at a time when publ ic company CFOs and their staffs are already stretched extremely thin. Complicating this scenario is the factthat many ofthe ru les are still in the process of being written, with compliance dead lines looming in 2004 (first quarter of '05 for compan ies under $75 million in market capita lization).The Act's Section 404 mandates that a company establish, document, and subsequently audit internal controls for their financia l statement preparation procedures, prompting many of our clients to ask,"How do I best implement the requ irements of 4047" Wh ile the company's auditor will be requ ired to test, evaluate, and report on the effectiveness of the docume nted control structure, the Act severely rest ricts the services that t he audit firm can provide to its audit clients to assist in Section 404 compliance. It's still a gray area . So CFOs have three choices- do all the preparation for 404 compliance in-house; get assistance from the existing aud it firm under certain constraints; or engage a separate firm to assist in the implementation and/or documentation of all the required internal controls. Option one, assigning the work to existing staff, will work best for t he largest companies -
those t hat already have deep resou rces in
internal aud it. The staff may be stretched t hin, but CFOs in a recent study indicate that they may just delay or cancel other initiatives, such as tra ining or technology, in order to make sure the work gets done. This begs the question, "how much work are we ta lking about?" The SEC estimates that the average add itional workload per company wi ll be 383 hours- the equiva lent of 10+ weeks of fu ll time work -
and estimates the annual cost at an average of $9 1,000, not
including add itiona l aud it fees. While these may be the officia l estimates, CFOs we know unanimously think that they are misleadingly
by Richard Caturano, CPA, Vitale Caturano & Company Richard J. Caturano, CPA, is president of Vitale Caturano & Company of Boston, the largest regional CPA firm in New England, which represents both national and international clients with a full range of finan ci al and strategic services. Mr. Caturano is also chair of PCPS , the AICPA's Alliance for CPA Firms, and sits on the AICPA's committee on staffing issues.
low. Further, not only do CFOs and their staffs have a wide range of new responsibil ities, but there's an opportun ity cost to Congress's actions: the intense focus on comp liance and its implementationfrequently across multiple business units -
means t hey have far less
time to devote to more strateg ic decisions. Option two, asking the existing aud itor to assist with 404, may prove prob lemat ic.
The new Public Company Accounting
Overs ight Board has not issued final ru les on auditor independence, but it has expressed, loud ly and clearly, the opinion that audi-
Continued on page 14 12 Valu eRi ch Magazin e
Continued from page 12 tors should never be in a position to audit
Section 404 related work fo r their aud it
resources to provide advice on tax and
their own work. Therefo re, it is not clear if a
clients for this very reason. We would always
other routine and strategic financial mat-
public company wi ll be allowed to prepare
rather err on the side of prudence.
ters. 404 provides an opportunity to get
the work interna lly and then have the
Second, introducing a new team pro-
existing external auditor give feedback on
vid es the company with a set of fresh eyes
In addition to the Big Four audit firms,
the work product.
that may identify and correct any gaps in
there are many local and regional CPA firms
that team in place.
Sma ller compan ies may simply not have
the control structure for financial statement
providing excellent service in the 404 area. I
the luxury of assigning the project internal-
preparation. In our experience, at least ha lf
advise clients to keep in mind t hat what's
ly. Those t hat cannot are likely to adopt
of the CFOs we work w ith are saying that
most important for these assignments is
option three, retaining a separate CPA firm
going through this additiona l compliance
not size, but internal audit expertise and
to get prepared to meet the 404 rules. While
process is yield ing benefits w ith regard to
access to "best of breed" processes and sys-
there's clea rly an additional cost in taking
tightening up thei r controls.
tems. Make sure to ask for the qualifications
this step- especially tough in times of re li-
Third, the time and energy it takes now
and credentials of the firm in this area, as
giously tight budgets- there are some dis-
to bri ng a new non-aud it team up to speed
we ll as its comparab le experience w ith
t inct benefit s that clients ca n real ize in
on the company, its business, its financial
companies in the same industry.
doing so.
reporting process and its control environ-
Above all, time is of the essence. Whi le the SEC did delay imp lementation dead-
First and perhaps foremost in this climate
ment, may be an excel lent investment in
of scrutiny, hiring a separate firm avoids any
the future. Not only does Sarbanes-Oxley
lines from the origina l (and unrea listic)
whiff of impropriety for the company, its
require that public compan ies recycle their
December 2003, that's no reason to sit back.
Board of Directors, and the CPA firms
auditors every five years, but given the new
The smart CFO will report to the company's
involved. Some CPA firms, m ine included,
restrictions on non-audit services provided
CEO and the audit comm ittee of the board
have actual ly taken the bul l by the horns
by auditors, compan ies wi ll be scrambling
that 404 work is either done -
and decided that they will not do any
(if they are not already) for external
underway -
ROCK HER WORLD.
THEfi
RING"
Exclusively available by calling 1-800-310-9694. www.divinediamonds.com
14 ValueRich Magazin e
or well
by early next year. VR
n.Business
THE DIRECTOR'S PERSPECTIVE
In the Post-Enron Era, Perception is as Important as Reality. The challenges presented by Section 404 of the Sarbanes-Oxley Act of 2002 to the internal accounting staff and the board of directors of a public company are daunting for Fortune 500 companies- for medium or small cap companies, they can be overwhelming. Directors are increasing ly being held responsible, legally and in t he media, for the failures of their companys' management prompting them to consider many questions: How can directors of public companies assure that they are fulfilling their fiduciary obligations? What reasonable efforts must be taken to assure that their company wi ll be we ll-positioned for the 404 internal control aud it? Most importantly, what will maximize the possibil ity that the issuer wi ll emerge with an acceptable op inion of their independent aud itor w ith respect to th e company's internal contro ls? And, In the course of pursu ing those objectives, how do directors impleme nt their responsibi lities in a manner that will limit their exposu re if the 404 audit results in a conclusion that internal cont rols are ineffective or deficient? As a consequence of the requirements of Sarbanes-Oxley and ensu ing rules adopted by the Securities and Exchange Comm ission, Nasdaq and the various exchanges, most public companies have estab lished Audit Committees comprised of independent directors who are financially literate. Public companies that are quoted on the OTC Bulletin Board and t he Pink Sheet s, though not necessarily bound by the same requirements, would be we ll advised to act as if th ose requ irements also applied to them. The reasons are fundamental. We are living in a t ime of low investor confidence and high regu latory scrutiny. Acting as if your company is traded on an exchange w ill result in adopting better disclosu re controls and w ill demonstrate a sensitivity to corporate gov-
By Ralph V. De Martino Ralph V. De Martino is a corporate secur ities lawyer and Managing Partner of Dilworth Paxson LLP, Washington D.C. He has substantial experience in private placements and
ern ance issues. Adopting these practices wi ll also increase the chance of subsequent approva l for an eventual listing on an exchange or Nasdaq and w ill serve to reduce the company's exposure to a host of regulatory and civil litigation claims. Over time, it is likely that the requirements applicable to
the issues encountered by NASD member firms. He serves
excha nge and Nasdaq t raded companies will create practices that
on the American Bar Association Federal Regulation of Securities Committee Subcommittee on NASD Corporate Financing Rules , which addresses issues arising under NASD Rule 2710.
th e Courts will deem to be the "custom and practice" of pub lic reporting compan ies, and therefore the standard by which all public companies w ill be measured in regu latory and civil cha llenges.
Continued on page 18 16 ValueRich Magaz in e
WORLD ' S LARGEST
D E A l E R
Continued from page 16 Fina lly, implementation of such practices establi shes a means of
good exercise of care.
independent oversight of the company's efforts to properly imple-
An Audit Committee shou ld consider the retention of qua lified
ment, modify and document internal controls that will successfully
independent counsel to advise its members and to assist them in
w ithstand a 404 audit.
establ ishing and monitoring the process of attaining compliance
Thus, it is the Audit Committee's responsibility to assure that a
with Sarbanes-Oxley. In doing so, the Audit Committee w il l demon-
reasonable timetable is establ ished; that the CFO has sufficient
strate that it is taking a serious approach to its obligations by
resources to meet that timetabJe; that there is period ic review and
obta ining special ized legal expertise, and thus make great strides
accountability of the CFO and his staff to the Aud it Comm ittee with
toward showing that it has acted diligently and with ca re.
respect to implementing, modifying and documenting appropriate
With the assistance of its counsel and with input from the com-
internal controls; and that the system of controls is in place and
pany's accounting staff, th e Committee should then assess what
properly documented when the company undergoes a 404 audit.
outside accounting expertise, if any, needs to be reta ined to assist
Most Audit Committees (and many CFOs) do not have the
in implementing its responsibi lities, as wel l as preparing adequate-
expertise to implement this process themselves. Moreover, it is nearly impossible for Aud it Committee members to independent-
ly for the 404 process. Often Aud it Committees retain the services of outside account-
ly assess whether such expertise exists w ithi n the internal account-
ing experts who are independent from its auditor and from its
ing staff of a company. Where does that leave the members of the
accou nting staff to provide advice with respect to pa rticul ar issues
Audit Committee?
that may arise.
Directors are required by law to exercise a duty of care in the
For instance, the outside provider could provide an assessment
implementation of thei r responsibilities. Courts have consistently
for the Audit Committee regarding the ability of internal account-
held that diligent pursuit of the objectives at hand and the utiliza-
ing staff to adequately and promptly construct, modify and docu-
tion of third party experts by directors are stro ng indications of
ment the control environment contemplated by applicable law and accounting literature. In the event of an adverse conclusion, such a provider cou ld assist directly, or help find an appropriate service provider to assist the company in those efforts. The practice of engaging the se rvices of an independent
•
mtster men's fashions palm beach style
provider of accounting expertise does not necessarily represent a significant cost to the company. Yet it goes a long way toward fulfi lling the duty of care, and demonstrating that t he directors have engaged in a reasonably structured process to fulfill their obligations. Finally, any Audit Committee that has not taken action independent from the CFO to assess and oversee the process of addressing internal controls in advance of the applicability of 404 is running the risk of exposing itself to the claim that it has abdicated its duties. As the directors of Disney found, abdication of directors' duties can result in dire consequences for a company and can expose directors to liabil ity resu lting from derivative lawsuits filed
3 13 1/ ¡ w o rth avenue palm beach, florid a 33 480 .56 1.835 .0200 to ll free: 866.3 15.0 777
by shareholders in the name of the company. Good corporate governance practices result in long-term benefits for a company and the mitigation of exposure to liability for the directors. That statement is as true in addressing the 404 process as it is in any corporate context- but particularly in this post-Enron era where perception is as important as reality. Therefore, directors must be as diligent in documenting their efforts and their satisfaction of the duty of care wh ile preparing thei r company for Section 404 of Sarbanes-Oxley as they are in causing the company to be prepared to cope with Section 404. VR
18 ValueR ich Magazine
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PUBLIC COMPANY PROFILES Where Money&Ideas Connect Inside every issue of ValueRich magazine, you will find: • COMPANIES SEEKING CAPITAL ..................................... 20 • COMPANIES SEEKING MERGERS AND ACQUISITIONS .................... 38 • COMPANIES SEEKING STRATEGIC PARTNERSHIPS AND JOINT VENTURES ..... 63 • COMPANIES SEEKING TO DEVELOP NEW BUSINESS CONTACTS ...... 82 • COMPA IES SEEKING MARKET SUPPORT AND ADVISORY SERVICES ........ 96
TheO/dWay:
The ValueRich Way:
Companies hire an investment banker, accountants, attorneys, a public relations firm and produce expensive presentations, then pay all expenses to take the show on the road.
Companies publish their specific needs and information for the financial community inexpensively in Va/ueRich magazine and on www. va Iuerichon Iine.com.
Unfortunately in today's market this strategy often yields disappointing results.
Va/ueRich magazine is distributed to the companies, entrepreneurs and investors who are searching for relationships to create wealth and growth.
ValueRich , Inc., P. 0. Box 962, Palm Beach, FL 33401 • 561-832-8878 • Fax: 561-841-1524 • ValueRich@bellsouth.net
Valu eRich Magazin e 19
INVESTMENT BANKING/BUSINESS OBJECTIVE: Canyon Resources is currently seeking capital to develop the McDonald Gold Project, investigate new advance-stage precious metal exploration and development projects. Mine development can normally be financed through a combination of equity and project debt, whereas acquisitions generally require a greater component of equity financing. Each project has its own specific capital requi rements. Therefore, the Company anticipates raising of capital through equity, possibly debt, and/ or joint venture financings in the future as projects mature.
COMPANY DESCRIPTION: Canyon Resou rces is a U.S.-based mining company, whose business is the discovery and production of precious metals. The Company's gold inventory of 13.8 million ounces includes 9.8 million ounces of mineable reserves ($400/ oz gold price) which are being developed or are operating mines in the western United States. Canyon currently operates the Briggs Mine in California, which yielded 57,000 ounces of gold in 2002. Projects being developed by Canyon include the 10.9 million ounce McDonald gold deposit in Montana and a small high-grade gold/ silver project in Mexico. Once permitted and constructed, th e McDonald Mine is anticipated to produce 445,000 ounces of gold per year for a 14-year period. The McDonald project has been impeded by passage of anti-mining initiative 1-137 in Montana; however, the Company is taking action against this ruling.
RECENT DEVELOPMENTS: • The Company is pursuing a lawsuit against the State of Montana seeking to overturn the anti-mining initiative, or, if that fails, to obtain a damage award for the value of the properties "taken" by the initiative. • A 2003 survey of the 10.9 million-ounce McDonald Gold Project indicates that it can be developed over a 14-year period as a run-of-mine (no crushing) leaching operation wit h production of 6.22 million ounces of gold (currently priced around $400/ oz) at an estimated total operating costs of $188 per ounce.The McDonald project would also yield 18.7 million ounces of silver. • Annual production would average 445,000 ounces of gold and 1.33 million ounces of silver using large electric shovels and 300-ton haul trucks on 40-foot benches.
• A redesign of the project incorporates many environmental advantages over an earlier design, such as moving all facilities out of sight from the valley bottom; using in-pad solution storage (no ponds); and lining all leach pads and non-ore rock piles so that rainfall and leach fluids are completely contained and recirculated.
STRATEGIC BUSINESS PLAN: Canyon Resources is dedicated to bringing the McDonald Gold Project to full development by obtaining relief from the anti-mining initiative 1-137, either through the courts or by means of a new citizen initiative in November 2004. This gold project and district is of such world-class size and economic significance that it will have a dramatic impact on the Montana economy. Canyon is also evaluating other advance-stage gold/ silver projects for acquisition or participation. One such property, El Aguila in the state of Oaxaca, Mexico, is being drilled, yield ing high-grade gold/ silver intercepts.
MANAGEMENT: Dr. Richard H. De Voto is Chairman, President and CEO of Ca nyon Resource Corpo ration. He was a cofounder of Canyon in 1979 and a founding Director of Delta Gold in Australia from 1984 through 1990. From 1966 to 1987, he was also a Professor of Geology at the Colorado School of Mines. He is a registered Professional Engineer in the State of Colorado. Dr. Gary C. Huber is Vice President-Finance and Director of the Company. He also was a co-founder of Canyon. Drs. DeVoto and Huber together have more than 75 years of experience in natural resource exploration, development and management.
CONTACT INFORMATION: Richard H. DeVoto, President 14142 Denver West Parkway, Ste. 250 Golden, CO 80401 (303) 278-8464 x11 0 Fax: (303) 279-3772 rhdevoto@canyonresources.com www.canyonresources.com
m e Public Comp any Profi les avail able at • www. va lue r ic honlin e. co m • Value Ric h , Inc ., 1 . 561 . 832 .88 7 8
20 ValueRi ch Magaz in e
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Symbol : FCON
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Exchange : OTC
INVESTMENT BANKING/BUSINESS OBJECTIVE: FinanciaiContent seeks further investment for a strategic merger or acquisition ventures.
COMPANY DESCRIPTION: FinanciaiContent, Inc. is a leading provider of financial data and business applications to online media and financial services companies worldwide.The company offers solutions that encompass market data, real-time news, and analytical tools for web, wireless and print applications. With over 200 deployments around the world, FinanciaiContent is rapidly growing its client base of banks, brokerages, credit unions and application service providers, as well as diversified media businesses and Fortune 500 companies. A pioneer in online content integration, FinanciaiContent is the industry's leading content solution provider offering a full suite of financial data, deployable through an interactive online platform. FinanciaiContent's flagship product, Studio 3.5, is winning rave reviews from clients for the software's ease of use and speed of deployment. FinanciaiContent also offers a full suite of complementary services, including web development and hosting, that target the online media and financial services industries.
RECENT DEVELOPMENTS: • In July 2003, FinanciaiContent acquired the assets of CNET Networks, Inc.'s Private Wire division, a financial channel solution for websites and print publications, in exchange for cash and preferred equity, convertible to approximately 20 percent of FinanciaiContent's common stock. Additionally, FinanciaiContent entered into a content-licensing and co-marketing agreement with CNET to power the Investor Channel of CNET News.com. • The Company has announced the launch of FinanciaiMedia, a major initiative to deploy contextual advertising products on financial channels powered by FinanciaiContent. The Company partnered with a leading paid-search provider to conduct a test-run within a full -featured financial channel that will be powered by Studio 3.5 and private-labeled for one of the nation's largest cable and broadband service providers.
STRATEGIC BUSINESS PLAN: FinanciaiContent's objective is to be the industry's preferred integrator of financial data and tools. Elements
of this strategy include: • Targeting businesses in industries that require robust online market analysis tools and financial information on their web sites. The Company continues to develop content packages targeting specific industries. • Developing and marketing innovative products and services to attract and retain clients. Also, continuously developing new delivery and caching systems to maximize the scalability and availability of the data delivery service. • Accelerating its sales, marketing efforts and technology development and gaining access to compelling content, applications and functionality through strategic alliances. Considering mergers and/ or acquisitions of businesses that can complement its products and services, provide access to new markets and increase profit margins.
MANAGEMENT: FinanciaiContent is managed by a group of dedicated executives with years of experience in the online content business and depth of expertise in the efinance industry. Wing Yu, Chief Executive Officer, formerly was COO of Cosmoz Infrastructure Solutions, Inc. Gregg Fidan, Vice President of Product Development, has received recognition in publications including Money Magazine, Bloomberg, Online Investor and CNBC. Mark Dierolf, Vice President of Technology, has more than a decade of technology experience including extensive database and web development management. Dave Neville, General Counsel, has been practicing law over 11 years. His experience spans the areas of corporate governance, securities compliance, tax laws, human resources and investor relations.
CONTACT INFORMATION: FinanciaiContent, Inc. Wing Yu, Chief Executive Officer 400 Oyster Point Blvd., Suite 435 South San Francisco, CA 94080 (650) 837-9850, Fax: (650) 745-2677 wyu@financialcontent.com www.financialcontent.com
R ea l-time P ublic Company Profiles availab le at • www.valuer ichonline .com • Va lue Ri ch, In c . , 1.561 .832.8878 ValueRich Magazin e 21
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
Genio is currently seeking capital in order to further market its products and increase business and advertising opportunities.
The Company plans to steadily increase advertising utilizing favorable pricing that Genio negotiated through t hird-party media buyers. Increased advertising, according to early feedback, has proven to increase awareness and demand for products. In addition, the Company is seeking capital to assist in expansion of business.
COMPANY DESCRIPTION: Genio Group, Inc., is a developer and marketer of entertainment and leisure products. Genio Group holds a world wide license with Marvel Enterprises, Inc. to manufacture and sell specific categories of products based on the globally recogn izable Marvel Super Heroes™. The Company's first product offering, the Genio Ca rds™ series is now available at more than 10,000 retail outlets nationwide. The cards attract children ages 4-12 and are accepted by parents as quality "edutainment" products. The card series includes a collector's album, nine-card packs, and 36-card MegaDecks, consisting of 360 illustrated cards that take kids on an amazing journey through 30 subject categories from the birth of our universe and outer space to the traditions of martial arts.
RECENT DEVELOPMENTS:
MANAGEMENT: The Genio management team has extensive experience in consumer product marketing. Shai Bar-lavi, Chief Executive Officer Susan Eisner, President Andrew Schnker, Chief Financial Officer
CONTACT INFORMATION: Genio Group, Inc. And rew Schnker, CFO 150 Broad Hollow Rd., Melville, NY 11747 (212) 626-6702 aschnker@geniocards.com www.geniocards.com
• On December 8, 2003, Genio announced that it had received subscription agreements for a $1 .0 million private placement of 476,190 shares of its common stock at the price of $2.10 per share. • In December 2003, the Company announced that early feedback from both retail outlets and consumers indicates that the Company's television ad campaign, launched in late November, is proving effective in generating increased awareness and demand for Genio Cards™. • In November 2003, the Company announced its first expansion into non-traditional retail outlets: Its Genio Cards card collection is now available in more than 800 Blockbuster trial-market stores nationwide.
R ea l-t im e P ublic Company Pro fi les avai la bl e at • www. val ue r icho n lin e.com • Va lu e Ri c h , In c ., 1 . 56 1.83 2 .8878
22 Valu eRi ch Maga zin e
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Exchange : OTC BB
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The Company is seeking capital, as well as acquisition candidates, to expand business. Acquisition of peer industry players presents the greatest opportunity for significantly increasing Global Axcess' top and bottom lines over the near and long term. Currently, our management team is engaged in identification, qualification and negotiation with several highly desirable target companies. It is our intent to acquire one company per quarter through the end of 2004. Full execution of this acquisition strategy is expected to yield double and perhaps triple digit revenue and earnings growth over the same time frame.
The Company remains highly concentrated on achieving successive annual revenue increases while delivering consistent profitability through : • intelligently targeted acquisitions; • accelerated market acceptance of our proprietary branded cash program; • enhancement of our product and service offerings with proven technologies demonstrating high market demand; and • stringent cost controls designed to maximize our capital resources.
COMPANY DESCRIPTION:
Michael Dodak, CEO, was Chief Executive Officer of Nationwide Money, an independent ATM network operator and services provider, prior to joining Gobal Axcess Corporation. David Fann, President, was the Chief Executive Officer and Chairman of the Board ofTeraGiobal, Inc., a publicly traded company, from September 1998 through September 2000. David Surette, CFO, was the Chief Financial Officer of National Service Direct, Inc. (NSDI), a majority-owned subsidiary of SR Teleperformance, a French publicly traded corporation in the telemarketing industry, prior to joining Global Axcess Corporation. Robert Colabrese, Executive VP Sales, joined NMS in 1996 and has more than 20 years experience in the industry.
Global Axcess Corporation was founded in 2001 for the purpose of consolidating the highly fragmented Automated Teller Machine (ATM) industry. Nationwide Money Services, Inc. (NMS), a Global Axcess' core operations subsidiary, provides turnkey ATM management solutions that range from cash management to proprietary software solutions. Additionally, Global Axcess' wholly owned subsidiary, EFT Integration, Inc. (EFTI), is a network certified processor and processes the electronic financial transactions from the Company's base of ATMs operating in 39 States. Global Axcess' software development group has developed a proprietary turnkey software suite of products over the past five years called NMS Mystro that includes the modules: CashManager, WorkOrderManager, TransManager and CommissionManager.
RECENT DEVELOPMENTS: • For the nine months ended 9/ 30/03, revenues fell 5 percent, to $7.9 million. Net income totaled $265,000, up from $3,000. • On November 11 , 2003 the Company announced implementation of a non-exclusive agreement with Community Bank Connection (CBC), a Jacksonvillebased consulting firm engaged in marketing cost-efficient correspondent banking services to community banks via Banker's Banks. • In September 2003, the Company announced that its wholly owned subsidiary, EFT Integration, Inc. (EFTI), broke two company records and signed two new processing customers in August.
Rea l-time
MANAGEMENT:
CONTACT INFORMATION: Global Axcess Corporation David Fann, President 224 Ponte Vedra Park Drive Ponte Vedra Beach, FL 32082 (904) 280-3950 Fax: (904) 280-8588 david.fann@globalaxcess.biz www.globalaxcess.biz
Public Company Profiles availab le at • www .va luerichonl ine.com • Va lue Rich , Inc., 1.561 . 832.8878
Valu eRi ch Magazin e 23
INVESTMENT BANKING/BUSINESS OBJECTIVE: US Wireless Online is currently seeking capital of $3
millioni to complete its deployment of a recently developed non-line-of-sight (NLOS) wireless data transmission system in Louisville, KY and to begin NLOS deployment in the Company's other core markets. Upon the successful completion of the Company's initial NLOS rollout, it will begin the rapid deployment of systems in targeted markets, primarily in the eastern U.S., through both acquisition and organic development. This phase of the Company's development will require additional funding of approximately S15 million and will establish the Company as the leader in wireless broadband and a significant participant in the "last-mile" broadband market making itthe"third pipe" in addition to DSL and cable.
COMPANY DESCRIPTION: US Wireless Online was formed in June of 2000 to take advantage of opportunities in the broadband data marketplace, including "last mile" high-speed Internet access, mobile Internet access, and other highspeed access products. It began commercial operations in Atlanta in January, 2001 and has since grown internally and through acquisitions to more than 500 commercial customers representing 24,000 users in five metropolitan markets: Atlanta, Louisville, Cincinnati, Columbus and Dayton.
RECENT DEVELOPMENTS: The company became a public entity in May 2003 through a reverse merger. It has secured funding to begin the nation's first "overbuild" or metro-wide deployment of NIOS high-speed data transmission to compete directly with DSL and cable modem broadband providers. It began commercial operation of the system in mid- September 2003 and expects to complete deployment in the Louisville, KY market in 2004.
STRATEGIC BUSINESS PLAN: The US Wireless Online strategy is to capture market share by offering a superior and lower cost product to both business and residential customers. Central to the Company's strategy is the rapid deployment of newly available NLOS technology, which will allow the Company to increase its service availability to approximately 85 percent of its current markets. Deployment of NLOS equipment will also allow the company to cost-effectively utilize mass-marketing media strategies to provide its service. Equity funding will be used to continue to acquire and install the equipment needed to expand the Company's NLOS service territory and customer base. The Company also believes that the wireless broadband sector is ripe for consolidation and has devoted time and resources to identifying and analyzing potential acquisition candidates.
MANAGEMENT: The Company's senior management has extensive experience in successful development and operation of new and existing companies. Strengths are in mass marketing, finance and operations.
CONTACT INFORMATION: Douglas Keeney, CEO
745 W Main Street, Suite 100 Louisville, KY 40202 (502) 213-3700 Fax: (502) 583-8251 i nfo@uswo.net www.uswirelessonline.com
Real-time Public Company Profi les avai lab le at • www.va lue ri c honli ne.com • Value Ric h , Inc ., 1 . 561 . 8 3 2 . 8878 24 ValueRich Magazin e
Meet the experts on Sarbanes-Oxley compliance. If you need to address the requirements of Sarbanes-Oxley compliance, no one is more qualified to help than the Baker Tilly International network. We have representatives throughout the world. The firms listed here have specific expertise in Sarbanes-Oxley compliance.
Blum Shapiro Darrell Pataska, CPA dpataska@blumshapiro.com
Connecticut 860-561-6835
Habif, Arogeti &Wynne, LLP Jonathan Miller, CPA jon.miller@hawcpa.com
Georgia 404-898-8203
Katz, Sapper &Miller, LLP Ron Lenz, CPA rlenz@ksmcpa .com
Indiana 317-580-2063
Baker, Newman &Noyes Martin White, CPA mwhite@bnncpa.com
Maine 207-879-2100
Vitale, Caturano &Company, PC Joel Shaman, CPA joel.shamon@vitale.com The Rehmann Group Kirk Balcom, CIA, CISA kbalcom@rehmann.com
Michigan 517-787-6503
Larson, Allen, Weishair & Co., LLP Erik Skie, CPA eskie@larsonallen.com
Minnesota 612-376-4629
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Missouri 314-290-3325
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~AKER TILLY INTERNATIONAL World Headquarters, 2 Bloomsbury Street, London WC1 B 3ST, United Kingdom Tel: +44 (0)20 7314 6875 Fax: +44 (0)20 7314 6876 info@bakertillyinternational.com Baker Tilly International is a network of high quality, independent accountancy firms. We are the 1Oth largest network in the world by fee income and are represented by 112 firms in 65 countries, with a global fee income of $1 .5 billion and 18,500 staff worldwide. With a global reach we provide advice in all major business communities. We work to offer expert technical guidance which includes a wide range of specialists and experts on every continent in which we do business. Baker Tilly International is a trademark of the UK firm Baker Tilly, used under license.
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Ohio 216-579-1040
Parente Randolph Philip Santarelli, CPA psantarelli@parentenet.com
Pennsylvania 570-820-0127
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Utah 801-532-2200
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Virchow, Krause & Company, LLP Steve Stensrud, CPA sstensrud@virchowkrause.com
Wisconsin & Minnesot; 800-362-7301
Ii.WANT.1 You Are How You Eat At bult haup, the emphasis has always been on life revolving around the kitchen . The German architects and manufacturers of luxury furniture and kitchen design are known for th eir aesthetic minimalism, exclusivity and luxurious materials. Spend ing more time at home seems to be eve ryone's top priority th ese days. bu lthau p designs help organize personal kitchen spaces to simplistically accommodate a relaxed and efficient home life. bu lthaup has earned a trusted fo llowing among tre ndsetters, architects, chefs, gourmets and celeb rities.
Worl d-renowned
chefs Emeri l Lagasse of The Food Network and Pino Luongo of Le Madri and Coco Pazzo in New Yo rk have had their personal kitchens crafted by bulthaup. Other notable customers include Brad
Weighi g In at 751bs: Muhammad Ali the Book Muhammad Ali, 61, is one of the most
revered him. The politica l establ ishment
greatest sports figure of ou r time.
feared hi m. He boasted in rhymes before
He was a controversial and outspoken
anyone ever heard of hip-hop.
champion for peace, freedom, and equal
Today, he is still an inspiration. He fioats
rights, boasting a boxing record that is still
like a butterfly through the ravages of
unbeaten two decades afte r his retire-
Parkinsons disease, still dazzling at public
ment.
appearances. It on ly stand s to reason
As a black man, he was second to no man ... and he made sure everyone knew it. He fi lled the camera and electrified the
26 ValueRich Magazin e
media. He was brash and rebellious. Youth
remarkable personal ities and probably the
that t his larger-than-life man would be the inspi-
Pitt, Eric Clapton, Bill Paxton and Joel Si lver. Inspired by the minimalist elegance of Bauhaus architecture, bulthaup's kitchens, are designed in t wo systems.
System 25 is bulthaup's signature style of contemporary kitchen architecture. Its
System 20 modules offer end less design combinat ions and a myriad of uses.
New York, Los Ange les, Ch icago, Dal las, Denver, Washington D.C., Philadelphia, San
bulthaup's modular designs invite users
Francisco, San Diego, Atlanta, Boston, Miami
to app ly personal tastes and preferences to
and other cities worldwide. For more infor-
their living space. bulthaup showrooms are located in
mation on how to create an in spirin g sou l for your home, visit www.bulthaup.com.
modern functiona lism provides countless va riations in kitchen layouts. System 25 materials include g lass, linoleum, wood, stainless steel, alu minum, laminate and lacquer. Quality craftsmansh ip with authentic materials and an obvious attention to detail give bulthaup kitchens a unique and discreet visual appeal. System 20 offers mobile,functioning elements, predominantly aluminum, featuring stainless steel feet or rolling casters that can be combined to liberate a kitchen or livingspace. Building a kitchen in modular pieces allows it to evolve functionally based on the owner's needs.
ration for the most expensive book ever
ny text from more than 20 different contrib-
photographer Howard Bingham.
made. It took four years to publish, costing
utors, including Al i himself, as wel l as press
At a retail price of $3,000 per copy and
$11 million.
accou nts, posters, memorabi lia and a full list
$7,500 for the 1,000 copy "C hampions
of all fights.
Edition," GOAT wi ll probably appeal most to
GOAT A Tribute to Muhammad Ali, produced by Taschen publishing, is 20 x 20
The tota l worldw ide print run is limited
t hose affluent boomers who cheered the
inches and about 800 pages. At 75 pounds,
to 10,000 numbered copies, hand-sig ned by
"Thril la in Manilla" w hile listening on radio.
it takes a heavyweight just to lift it.
both Muhammad Ali and artist Jeff Koons,
But there are sure to be more than 10,000 of
who contributes an orig inal sculpture multi-
them out there. www.taschen.com
career is fu ll of previously unpubl ished
ple in the first 1,000 copies and photo-
material from private arch ives. Nearly 3,000
graphic work in the remaining 9,000 copies.
"This is not a book. This is a monument on paper, the most megalomaniacal book in the history of civilization, the biggest, heaviest, most radiant thing ever printed - Ali's last victory." - Oer Spiegel
Th is complete chronicle of Ali's life and
public and private photographs accompa-
The first 1,000 copies also include four limited-edition original si lver gelatin prints signed by Muhammad Ali and
ValueRich Magazine 27
Ii.WANT.1 ou Be ie e ... Maxwell Smart had a shoe-phone. Now you can have an unbelievably versatile digita l camcorder that looks like an electric shaver. The 5.4-ounce Fisher FVD-Cl Pocket Camcorder is a more capable little device than you might suspect at first glance. It's a full function 30fps VGA MPEG-4 video camcorder that also can shoot 3.2megapixel photos simu ltaneouslyl The thoughtfu lly designed C-1 has a 5.8X zoom \ens that's far superior to what you' ll find on simi lar but cheaper minicams.lt also offers a fu ll range of shooting and playback features, built-in flash and even functions as a voice recorder. The package in cludes a postage stamp-
size 512MB SO card that lets users record up to 30 minutes of fu ll-motion video at an industry standard 30-frames-per-second (VGA-size: 640x480).1n still mode, the 512MB card can store up to 49 1 images (2048x1536), more than enough for crisp, sha rp 11 "x 14" color prints. The FVD-C1 comes with a charge r/docking station that provides plug and play functionality to both your computer, through USB, and your video system. Compact enough to fit snugly in your hand or ca rry easily inside a pocket or small purse, it's the ideal, ail-in-one device for personal or business use, making the $900 price tag worthwhile. Ava ilable at Sears and other reta ilers.
25 Hours of Hassle-Free Private Travel on the NetJets速 Fleet Marquis Jet is offering the card that is a key to endless opportunities. Sold in increments of 25 hours, the Marquis Jet card provides the convenience, freedom and flexibility to fly in complete comfort on the exclusive NetJets速 fleet. Call for your jet with only several hours notice, pick the time, ai rport and destination-and a 28 Valu eRich Magazine
NetJets速 aircraft will take you there. Costs range from S109,900 to $299,900, depending on the type of aircraft selected, for 25 hours of flight time (wheels up to wheels down) on the best-maintained fleet of private jets in the world. Ca ii 1-866-JET-1400 www.marquisjet.com
Say Cheese Olympus commemorated its 2003 sponsorship of the Ferrari F1 Grand Prix team by issuing the limited edition Ferrari Digital Model last fa ll. Unfortunately, the 4 mega pixel promotional camera, featuring a compact high-resolution 3X zoom lens and a 16 MB Xd picture card, was never made available in the United States, causing a great gnashing of teeth and tearing out of hair among U.S. Ferrari fanatics. However, you can still buy this beautiful Cavallino-cam for $697, plus tax and customs duties, on the Ferrari Web site. Hurry while supplies last. www.ferraristore.com
A Red line Drawn in the Snow The Redline 800 Revolt is finally coming, and it challenges every presumption about conventional snowmobile design. This year's production run is limited to only 700 sleds. The limited production is because Red line had to regroup and seek new financing to manufacture the radical new sleds after the 9-11 attack. "We were very close to production, but by the end of September our funding resources dried up completely," said Rob Massey, Red line national sales manager. "That process cost us a year." The hot new sled is back on track. One look at the radical design of the 800 Revolt
and you know you're in for a wi ld ride. Red line comes from a long heritage of successfu l off-road racing, and it is the first to
bring state-of-the-art, off-road technology to snowmobiling. Take, for instance, the patented T-15 swing arm suspension. It offers 15 inches of true vertica l travel along the rail, compared to just eight inches on other snowmobiles. This unique suspension is the main reason the 800 Revolt looks as if it can fly. And it does .. . catchi ng big air off moguls. And the Revolt's proprietary 800cc twin engine combined with a truly revolutionary clutch isolation system really claws snow. The 800 Revolt is all about speed, maneuverability -and fun. Redline's fast-growi ng dealer network is taking orders. Expect to payS 12,000 for one of these icebreaking machines. www.l red!ine.com
Valu eRi ch Maga zi ne 29
li.WANT.1 Digital Music Box
High-quality input and output from every kind of audio device - even your old turntable.
The COMDEX electronics trade show usual ly generates much of its excitement with consumer gadgets. What rea lly wowed them this year however, was video conferencing software from a start-up company cal led SightSpeed. Yes, vid eo conferencing software that actua lly wo rks like it's supposed to
If you are one of those peop le who believes Cat Stevens doesn't sound right
desktop amplifier for connecting any home
-
speakers or MP3 player to your computer.
images or lost audio, but clear smooth
unless you hear the snap, crackle and pop
The PowerWave offers flexible input,
from your old vinyl album, and you're wo n-
exceptional output, and amplifier power in
dering how to get that ve rsion on your iPod, then look no further. We have the product for you. The Griffin PowerWave USB Audio Interface & Desktop Amplifier is a power-
one simple device.
no latency, jerking out of sync
images and sound. Sig htSpeed takes a software-based approach to enable convenient, simple
USB audio is far cleaner and more effec-
to use, high-q uality video conferencing
tive for getting sound in and out of a com-
over any IP-based connection. So video
puter than bui lt-in audio.
conferencing w ith SightSpeed is as easy
Th e $99 PowerWave uses the best USB
ful and extremely flexible computer audio
audio codec (compressor/de-compressor)
tool. With it you can record any mike or line
available -
as picking up the phone -
at home, at
the office or on the road.
the identical codec used in
SightSpeed software requires no net-
input into yo ur computer. Record your
professional USB audio systems that cost
work knowledge and is designed to run
entire album collection to make CDs or
fi ve to ten times as much. Specially
on Windows, Mac and Unix computers
MP3s,or hook up a mike and musica l instru-
designed software is ava ilable that allows
without the assistance of IT staff
ment and turn your computer into a
you to customize your audio input and out-
recording studio.
put like a pro.
The PowerWave is also an integrated
www.griffin.com
Pocket Projector
Learn more about SightSpeed and the various pricing and subscription options at www.sightspeed.com
ture quiet performance, a 2000:1 contrast
Gone are the days of depending on
ratio, and Dig ital Light Processing™ by
AV staff to schlep around a
Texas In struments.
tangled mess on wheels
Full automatic sensing, projector adjust-
just so you can give your
ment and digital keystone correction pro-
PowerPoint presentation. PLUS Vision Corpora-
vide for quick and easy set-up. Other indemand features include a 2x dig ital zoom
tion of America has just released the world's thinnest mobile projector-line, the V3 series. The projectors are as thin as
lens, a presentation timer and password mobile professional s w ho wan t to carry a laptop and a projector in a sing le bag.
laptop computers, 1.38 inches, yet st ill
The V3-11 1, an 800 lumen SVGA
include the same features found in larger
(800x600) projector, and the V3- 13 1, a 1000
models. The V3 are specifically designed for
lumen XGA (1024 x 768) projector, both fea-
30 ValueRich Magazine
security protection. The V3s support the latest video standards. Video input sources include component, S-video, and composite video. The V3-111 sells for $1,595 and the V3131 for $2,295. www.plus-america.com
i.WANT.1 Amphib Shirt: A customized air vent system offers temperature regulation. Features hidden snap closures and concealed zip mesh pocket. $45
Extreme skiers Megan Brown, Kina Pickett and Chris Davenport left the slopes to climb and bike over rugged terrain and shoot the X3 lifestyle catalog.
32 ValueRich Magazin e
Here's a perfect fit for adventure seekers: new outdoor cl othin g and accessories from BMW's X3 lifestyle collection. Developed by Salomon, maker of multisport gear, this original line of versatile outerwear and accessories is designed for t he adventurous at heart. The X3 Lifestyle Collection debuts in Februa ry 2004, when t he new 2004 BMW X3 Sports Activity Vehicle goes on sale. The X3 lifestyle collection features breathable, lightweight, waterproof fabrics and thermal protection, made from high-tech material s that are rainproof and w ick away body moisture to keep you wa rm and dry in various weather cond itions. Jackets feature elastic thumb loops and adjustable cord locks. Thumb inserts on shirts hold sleeves in place during activities. The X3 Lifestyle collection also features backpacks, travel bags, mesh ziphood jackets and button-snap sh irts.
THE NEW X3: BMW's Second Sports Activity Vehicle The 4-year-old BMW X5 has been so successful that it helped double the luxury SUV market. Build ing on success, BMW has launched the new X3. Compact - yet roomy and practical, it's above all a thoroughbred BMW. The X3 2.5i, with a 2.5-liter inline 6-cylinder engine, is base-priced at $30,995. The 3.0-liter/22 5-hp X3 3 .0i offers upgraded features at $36 ,995 $10,000 and $15,200 less than X5 models. Valu eRi ch Mag azi ne 33
34 ValueRich Magazine
Simply plug the Belkin Voice Recorder into the earphone jack and the iPod becomes a fully functioning voice recorder, allowing you to record memos, lectures, interviews, or conversations in true WAV format. The iPod's abundant storage capacity allows hundreds of hours of highquality audio storage. The module features a built-in speaker and status LED for quick review. And unlike many stand-alone voice recorders, the iPod allows you to copy recordings to your desktop or notebook computer for storage, editing, or sending via e-mail. The Voice Recorder speaker even works with the iPod's built-in travel alarm clock. $49.95 www.belkin.com
Save a bundle on memory cards for your digital camera by transfering the images from your camera to your iPod via the Belkin Media Reader. The Media Reader has slots for CompactFiash® (Type 1 and 2), SmartMedialM, Secure Digital (SO), Memory Stick®, or MultiMediaCard (MMC). Pictures transfer quickly and easily using t he on-screen user-interface that's already built into the iPod's operating system. A 40GB iPod holds about 160 256MB memory cards' worth of images, rendering a low cost per GB storage option in a handy little package. $99 www.belkin.com
\
The iTrip FM transmitter, designed specifically for the iPod, can play music through any FM radio channel like the one in your car.The iTrip needs no batteries, receiving its tiny amount of power from the iPod. iTrip is so small you barely know it's attached - no muss, no fuss and no wires. $34.95 www.griffintechnology.com New functions, like uploading large image files, cause iPod's hard drive to spin for longer periods, resulting in faster battery drain. Belkin's Battery Back Pack for the iPod holds four AA alkaline batteries, providing an additional 15-20 hours of battery power. $69.99 www.belkin.com
Simple and essential, ( the tiny PocketDock by SendStation lets you connect the new G3 iPod's docking port to the standard 6-pin FireWire ca ble which is necessary for older accessories and chargers. $18.95 www.sendstation.com
FM Tuner perfomance is occasionally marred by signal interference. For car stereos with an auxiliary input, the best sound quality will come from a direct connection. The Belkin Auto Kit connects your iPod to your car's cigarette lighter, charging it while providing an adjustable amplifier with volume control and a 3.5mm audio-out jack. $49.99 www.belkin.com
·'
ValueRich Magazine 35
Designed expressly for the G3 iPod, Altec Lansing's in Motion portable audio system delivers natural sound w ith bass at frequencies far below what you'd expect from a sma ll speaker set. Plus, it features a fully functioning iPod docking bay which performs all the same data transfer and synchronization functions as Apple's standard, free-stand ing iPod dock -including iPod battery recharge through the AC power supply. inMotion features flush-mounted power and volume controls and an auxil iary in put jack for connection to laptops, older iPod s, and other MP3 players. Spending slightly more than $100 over the cost of Apple's extra dock, you get a cool desktop stereo as well. $149 http//store.apple.com
Top developers continue to deliver innovative products for the iPod. Harman Multimedia's JBLCreature™ audio system provides iPod users with great sound and out-of-this-world-style. The magnetically sh ielded three-piece speaker system, featuring superior \\\..
sound performance, was specifically designed with iPod s and desktop systems in mind. $129 www.harman-multimedia.com
If you have a deep-seated desire to control your iPod from across the room, then get TEN Technology's naviPOD. The naviPOD consists of a distinctive 5-button infrared remote control and receiver unit that plugs directly into the top of the iPod. With NaviPod, you can control the iPod's Play/Pause, Next, Previous, and Volume functions from the comfort of your couch. $49.95
www.tentechnology.com
Gi ro® brings driving audio power to the slopes w ith the Fuse™, the Nine.9™ and the Nine.9™ MX helmets in a new Audio Series. Audio Series helmets are equipped with premium-quality headphones integrated into the earpads, so you ca n just plug an iPod into the headphone jack and go! Helmets priced from $124.99 to $179.99 www.giro.com 36 ValueRich Magazine
The
Burton Amp Pack has a bu ilt-in iPod control system, using SOFTswitch™ tech no logy, making it easy for people on the move to control their iPod without the hassle of removing the pack. The Amp Pack features a secure iPod storage pocket and a headphone port located on the shoulder strap, as well as an easy-access side entry laptop compartment.
www.burton.com
s199.95
Wearable electronics are the next revolution in clothing, and Burton is leading the way by offering breakthrough snowboard jackets with built-in iPod controls. Burton's Radar 2 Layer iPod Jacket is the first women's snowboard jacket with iPod control capabil it ies. Two new men's jackets, the
Ron in 2 Layer iPod Jacket and the Burton Shield iPod Jacket, are also part of the new col lection. All of the new Burton iPod gear is compatible with the latest generation of iPods and incorporate SOFTswitch TM iPod control systems. The Ron in, Radar and Burton jackets have an updated, flex ible control pad on the sleeve which operates the iPod, stored safely in a specially designed padded chest pocket. The jackets are constructed with breathable, twolayer waterproof fabric and are machine washable when the iPod interface module is removed. $359.95 to $379.95
www.burton.com
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The Company is currently seeking to locate and consummate a merger or acquisition with an existing small business approaching near term profitability.
The Company currently has diminished business operations due to the wind down of the Isis subsidiary. As such, the Company's principal business at this time is to find and carry out a merger or acquisition with a private unit.
COMPANY DESCRIPTION: The Company has developed, marketed, distributed and supported a diversified mix of products and services for the telecommunications industry. Over the past 14 years, the Company has developed expertise in real-time wireless call-processing and has created technologically advanced solutions for this industry, focusing primarily in the area of wireless communications, fraud management, geo-location wireless software applications and sales of prepaid long-distance phone ca rd products.
MANAGEMENT: Stephen Katz, CEO and Chairman of the Board, has been Chairman of the Board and a director of the Company since its inception and was a member of the Management Committee of the predecessor partnership during the entire period of its existence. Bruce R. York, Vice President and CFO, joined the Company in April 1999 as Vice President and Chief Financial Officer. Mr. York has also served as Secretary since August 2000.
RECENT DEVELOPMENTS: • For the nine months ended 9/ 30/ 03, revenues fell 98 percent to $196 thousand. Net loss before accounting change fell 66 percent to $906 thousand. Revenues reflect reduced sales from the Company's Isis phone card segment. • On November 9, 2002, CTS ceased development efforts of its Neumobility development project, and on December 11 , 2002, it adopted a plan to wind down the operations of its Isis Tele-Communications, Inc. subsidiary. Consequently, as of December 31, 2002, CTS has no current business other than to complete the wind down of the operations of Isis. • Management anticipates that all remaining assets of Isis will be realized and liabilities settled. • During 2002, 2003 and into 2004, management has been and will continue evaluating alternative businesses and acquisitions.
CONTACT INFORMATION: Bruce York, Vice President and CFO 2815 Second Avenue Suite 100,Seattle,WA 98121 (206) 733-8180 Fax: (206) 443-1550 brucey@celtech.com www.celtech.com
R ea l-time Public Company Pro f il es avai lab le at • www. valuer ic h o nl ine . com • Va lue Rich , Inc . , 1 . 56 1.832 . 8878 38 Valu eRi ch Magazine
INVESTMENT BANKING/BUSINESS OBJECTIVE: Eagle Supply Group, Inc. is seeking acquisition candidates in the fragmented roofing and masonry supplies distribution industries. The Company believes that there are opportunities to source and distribute products efficiently and to achieve cost-savings and increased profits through economies of scale by growing through internal expansion and acquisitions. Eagle plans to seek acquisition candidates in the Southeast, Midwest, Southwest and Western regions, with less emphasis on the Northeast region of the country. Eagle anticipates enhanced profit potential through our strong management team, combining operations of the acquired companies.
COMPANY DESCRIPTION: Eagle Supply Group, Inc. is a wholesale distributor of residential roofing and masonry supplies and related products in the United States. These products represent 85-90 percent of Eagle's total revenues. The Company sells primarily to contractors and subcontractors engaged in roofing repair and construction of new residences and commercial property. It distributes sheet-metal products used in the roofing repair and construction industries, as well as drywall, plywood and other related products. Vinyl siding is distributed solely in Colorado. Other products include equipment, tools and accessories for the removal of old roofing, re-roofing and roof construction, as well as related materials such as shingles, tiles, insulation, liquid roofing materials, fasteners and ventilation materials. The Company distributes a complete line of cements, masonry supplies and related products in the Dallas/ Ft. Worth Metroplex.
RECENT DEVELOPMENTS: • Revenues for the 4th quarter ending June 30, 2003 increased 15 percent to 69.7 million. • Revenues for the fiscal year ending June 30, 2003 decreased by 1.9 percent to 226.1 million . • Eagle is the only publicly owned wholesale distributor specializing in the distribution of roofing and masonry supplies. • Company executives own 64 percent of the outstand ing shares. • Eagle Supply Group operates a network of 33 distribution centers in nine states, with locations in Texas
(13), Florida (nine), Colorado (five) and one each in Alabama, Illinois, Indiana, Mississippi, Missouri and Nebraska.
STRATEGIC BUSINESS PLAN: Eagle's success in the roofing-supply and masonrysupply distribution industries can be attributed to the following : • Using its size and financial strength, Eagle negotiates volume discounts and other favorable terms with suppliers.This allows its distribution centers and sales force to offer customers competitive pricing and purchasing terms, maintain broad product lines and inventory levels, and ensure timely delivery of products. • Maximizing economies through the Company's combined buying power and the use of centralized information systems. The manager of each distribution center has great latitude in operating his own distribution center, meeting customers' requirements, staffing his own operation, controlling expenses and assuring profitability.
MANAGEMENT: Douglas P. Fields serves as Chairman of the Board of Directors and Chief Executive Officer. He also is Chairman of the Board, President and Chief Executive Officer of TDA Industries, Inc., Eagle's largest stockholder. James E. Helzer is President and Vice Chairman of the Board. From 1982 until July 1997, he was the owner and Chief Executive Officer of JEH Company, Inc. Frederick M. Friedman is Executive Vice President, Treasurer, Secretary and a Director. He also is Executive Vice President, Treasurer, Secretary, and a Director of TDA Industries, Inc. E.G. Helzer is Senior Vice President-Operations. He also is President of Eagle Supply, Inc. and JEH/ Eagle Supply, Inc., Eagle's operating subsidiaries.
CONTACT INFORMATION: Eagle Supply Group, Inc. Douglas P. Fields, Chief Executive Officer 122 East 42nd St, Suite 1618, New York, NY 10168 Phone: (212) 972-0326 Fax: (212) 972-0326 dpfields@eaglesupplygroup.com www.eaglesupplygroup.com
R ea l-t i me Public Company Pr ofi les ava il ab le at • www.va lu eric hon line.com • Value Rich, Inc ., 1 . 56 1 . 83 2 . 88 78 Valu eRich Maga zin e 39
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The Company is seeking acquisition candidates, or seeking strategic merger, partnerships, joint ventures or acquisition.
Eldorado's international expertise in mining, finance and project development positions the company for strong long-term growth to become a 300,000-to500,000 ounce a year gold producer in 2007. The Company raised construction of Kisladag Mine in Western Turkey. The Company has a plan to build a successful midtier gold company based on current wholly owned long-lived assets that deliver superior returns at existing or lower gold prices including three key elements: • Implementation of detailed work plan for each asset that maximizes value from operations and develops existing projects. • Identify and pursue external opportunities given strong financial position. • Effectively communicate company value to public markets.
COMPANY DESCRIPTION: Eldorado Gold Corporation is an international gold-producing company currently active in development and exploration. The company has gold assets in Brazil and Turkey, two countries that offer strong geological potential. Recently, the company signed an agreement with China National Gold Group to review properties and mines in China. The Company's wholly owned Sao Bento Mine is Brazil's fourth-largest gold mine, producing approximately 100,000 ounces of gold on an annual basis. In Turkey, Eldorado's wholly owned projects at Kisladag and Efemcukuru have a combined resource base of 9.5 million ounces. Eldorado has 6.4 million ounces of proven and probable mineable reserves and 11.4 million ounces of resources. The Company is debt free and unhedged.
RECENT DEVELOPMENTS: • At our Sao Bento mine in Minas Gerais, Brazil, a 5.2meter diameter concrete line shaft is to be deepened 370 meters to be completed early 2005. The Company has a 14,000-meter drilling program to expand the current 531,355 ounces proven and probable reserve base. • An optimization study completed September 2003 on the Kisladag Gold Project in Turkey improved the financial performance and accelerated the expansion of the open-pit heap leach gold mine. Kisladag reserves increased to 5.1 M ounces of gold at $325 gold per ounce. • Environmental Positive Certificate was received June 2003. • Company anticipates receiving all permits and begins construction early 2004. • Average Annual Gold Production Phase I-Year 1: 155,000 ounces. • Average Annual Gold Production Phase II- Year 2-12: 246,000 ounces. • Cash Cost over life of mine $149/ oz gold.
MANAGEMENT: Paul Wright, President and Chief Executive Officer, and Earl Price, Chief Financial Officer, have experience in operating both open-pit and underground gold mines and are well-regarded in the gold industry. Management has successfully eliminated all debt and built a strong balance sheet. Hugh Morris, Chairman of Eldorado Gold's Board of Directors, is a seasoned leader in the mining industry and chairs a six-member Board; five directors are independent directors with more than 120 years experience in mining, finance, accounting and project development.
CONTACT INFORMATION: Eldorado Gold Corporation Nancy Woo, Manager, Investor Relations 920 Guinness Tower, 1055 West Hastings St. Vancouver, British Columbia, Canada V6E 2E9 (604) 601 -6650 Fax: (604) 687-4026 nancyw@eldoradogold.com www.eldoradogold.com
R eal-time Public Com pa ny P r of ile s availab le at • www.va lu erich on line .co m • ValueR ic h , In c., 1 . 561 . 8 3 2 . 88 7 8
40 Valu eRi ch Maga zin e
INVESTORS'" CAPITAL INVESTORS CAPITAL HOLDINGS INVESTMENT BANKING/BUSINESS OBJECTIVE: Investors Capital Holdings is currently exploring merger and acquisition opportunities. The Company has a cash position of over $7 million dollars. COMPANY DESCRIPTION: Investor Capital Holdings, of Lynnfield, Mass achusetts, is a diversified financial services holding company that own s and operates three distinct subsidiaries: an independent broker-dealer firm , an investment advisory firm, and a full-service, fixed and variable insurance agency.
KEY FACTORS: • Offers fee-based asset management through its registered investment advisory subsidiary. • Manages its own in-house mutual fund (Eastern Point Advisors "Twenty Fund") consisting of 20-30 large cap stocks of primarily US origin. • Expanded its insurance subsidiary in 2003 to include both fixed and variable insurance offerings. • Established a "Tax Solutions" franchise business, and opened four specialized tax offices on the east coast. • Launched a "Seminar Boot Camp" program (featured in Research magazine) to help its representatives attract new business and increase production. • Expanded its fixed income department in 2003 to offer in-house bond trading capabilities.
RECENT DEVELOPMENTS: Investors Capital Holdings increased its profitability by more than 100 percent in fiscal year 2003, despite one of the most difficult years ever experienced in the financial services industry. For the fiscal year ended March 31 , 2003, total revenue was $34.3 million, an increase of 18.7 percent, and net income was $115,891, an increase of over 100 percent from the previous year. Financial Planning magazine ranked Investors Capital Holdings' broker-dealer subsidiary, Investors
Capital Corporation, No.1 in client account growth, and No.6 in revenue growth in June 2003. 1n May 2003, The Boston Globe ranked Investors Capital Corporation No.ll among "biggest financial services companies by revenue" and included the firm in its"Top 100 return on equity" listing in June 2003.
STRATEGIC BUSINESS PLAN: Investors Capital Holdings and its subsidiary, Investors Capital Corporation, are focused on helping financial advisor affiliates successfully build their businesses through a comprehensive range of value-added products and services. The firm is continually expanding its distribution system through targeted financial talent recruitment, and plans to explore merger and acquisition opportunities over the next year. Investors Capital Holdings has a cash position of $7.1 million as of March 31 , 2003.
MANAGEMENT: Theodore Charles, President and CEO, and Timothy Murphy, Treasurer and CFO, lead a seasoned management team and board of directors who bring more than 150 years of collective financial services expertise to Investors Capital Holdings. The executive management provides strategic direction to grow revenue for Investors Capital Holdings and its three subsidiaries, as well as controlling costs, recruiting talent and holding the company accountable to its financial objectives.
CONTACT INFORMATION: Timothy Murphy Investors Capital Holdings 230 Broadway, Lynnfield, MA 01940-2320 Phone: 800-949-1422 Fax: 781-593-9464 info@investorscapital.com www.investorscapital.com
R e a l-ti me Public Company Profi les ava il ab le at • www.va luerichon line.com • ValueR ich, Inc., 1 . 561.832 . 8878 Valu eRi ch Magazin e 41
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
Seeking Acquisition Candidates. Seeking Strategic Merger, Partner, Joint Venture or Acquisition Seeking to Initiate and cultivate relationship with premier investment bank for future advisory services and possible IPO.
The Company's goal is to become a leading network provider of radiation therapy services in the United States through strategic relationships, new center developments, prudent acquisitions and internal growth. The services we provide are predicated on state-of-the-art information systems and the delivery of superior university level care in a cost efficient manner.
COMPANY DESCRIPTION: OnCURE Medical Corporation owns, operates, and manages fourteen radiation cancer treatment centers. The centers are designed and equipped to provide patients with the latest advances in outpatient radiation therapy, diagnostic testing, and chemotherapy programs in some instances. The centers do not own physician practices or maintain any control over the provision of medical services. Affiliated physicians are contracted by OnCURE to provide medical services to the cancer centers. The earnings model appropriately aligns the Company's economic interests with those of the affiliated physicians by providing capital and management resources, including clinical management, billing, and collection, data warehousing and other administrative services.
RECENT DEVELOPMENTS:
MANAGEMENT: Seasoned and experienced management team with equity fund sponsorship, including Crossbow Ventures, a $160 million fund in Palm Beach, FL, Halpern Denny and Co., a $600 Boston based equity fund, and MedEquity Capital, a healthcare dedicated private equity firm .
CONTACT INFORMATION: Jeffrey A. Goffman, Chief Executive Officer 610 Newport Center Drive, Suite 350 Newport Beach, CA 92660 (949) 721-6609 Fax: (949) 721-6610 jgoffman@oncure.com www.oncure.com
On July 7, 2003, OnCURE Medical Corp. (OnCURE) announced that it has completed $12 million in institutional financing to fund acquisitions and a capital restructuring. A portion of the proceeds were used to complete the acquisitions of four outpatient radiation treatment facilities: the Mission Viejo Radiation Oncology Center (Mission) in Mission Viejo, California, the San Clemente Radiation Center (San Clemente) in San Clemente, California, the Park South Radiation Oncology Center (Park South) in Bradenton, Florida, and the previously announced acquisition of the Southside Cancer Center (Southside) in Jacksonville, Florida. The acquisitions strengthen OnCURE's position as a leader in the operation and management of outpatient radiation treatment centers.
Rea l-time Pu b lic Com p any Pr of iles ava il abl e at • www.va lu er ic honl in e .co m • Va lu eRi c h , In c., 1 . 561 .832 .88 7 8
42 ValueRich Magazine
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The Company is seeking acquisition candidates to expand business opportunities. SuperGen's strategy is to identify, acquire and develop pharmaceutical products in the later stages of development. This will shorten the research and development cycle and minimize the time and expense associated with drug commercialization.
The Company strategy is to minimize the time, expense and technical risk associated with drug commercialization by identifying and acquiring pharmaceutical compounds in the later stages of development, rather than committing significant resources to the research phase of drug discovery.
COMPANY DESCRIPTION: SuperGen, Inc. is a pharmaceutical company dedicated to the acquisition, rapid development and commercialization of oncology therapies for solid tumors, hematological malignancies and blood disorders. Products offered by the Company are Nipent, Orathecin, Dacogen, multi-source anti-cancer drugs, and a strong portfolio of development therapeutic products. Nipent, a hairy cell leukemia drug, makes up 90 percent of current revenue. Orathecin has completed all pivotal trials in pancreatic cancer and is in the final stages of a rolling NDA submission. Dacogen has completed patient accrual for its pivotal trial in myelodysplastic syndrome (MDS).The Company's portfolio of products includes generic daunorubicin for a variety of acute leukemias, Mitozytrex (mitomycin for injection), cancer vaccine Avicine, Partaject-delivered busulfan and inhaled versions of Orathecin and paclitaxel.
Joseph Rubinfeld, Ph.D., Chairman Emeritus, cofounded SuperGen in 1991 and has served as Chief Executive Officer, President and a director of the Company from its inception to December 31 2003. James Manuso, Ph.D., CEO and Chairman, has served as a director of SuperGen since February 2001. Dr. Manuso is co-founder and immediate past President and Chief Executive Officer of Galenica Pharmaceuticals Inc. Edward L. Jacobs, COO, was appointed Chief Business and Financial Officer in October 2001, after serving as Executive Vice President, Commercial Operations of SuperGen from 1999 to 2001. Karl Mettinger, M.D., Ph.D., joined SuperGen in August 2000 as Senior Vice President and Chief Medical Officer. Michael Molkentin, CFO. Mr. Molkentin brings over 15 years of fin ancial leadership experience in a variety of industries, including biotechnology, to SuperGen.
RECENT DEVELOPMENTS:
CONTACT INFORMATION:
• In December 2003, SuperGen announced that data from five separate clin ical st udies demonstrated the activity of the anti-cancer drug Nipent® (pentostatin for injection), as part of combination therapy, in chronic lymphocytic leukemia (CLL). Also, that data from two multicenter clinical studies demonstrated the activity of the anti-cancer drug Nipent® (pentostatin for injection), as part of combination therapy, in Non-Hodgkin's Lymphoma (NHL). Results from these studies were recently presented at the 45th Annual Meeting of the American Society of Hematology (ASH) in San Diego. • Revenues rose 27 percent to $10.7 million. Net loss fell 20 percent to $34.6 million, for the nine months ended 9/ 30/ 03.
R ea l-time Publ ic Company Profi les avai lable at
o
MANAGEMENT:
SuperGen, Inc. Tim Enns, VP, Investor Relations and Business Development 4140 Dublin Blvd., Suite 200, Dublin, CA 94568 (925) 560-0100 ext. 111 Fax: (925) 560-0101 tenns@supergen.com www.supergen.com
www.va luerichon li ne .co m
o
Va lue Rich , Inc .. 1 . 561 . 832 . 8878
Valu eRi ch Mag azin e 43
INVESTMENT BANKING/BUSINESS OBJECTIVE: Seeking synergistic acquisition candidates and public technology company clients that need to expand their core technology. UTEK Corporation is a business development company that acquires, develops and finances primarily university technologies for its corporate customers. UTEK technology acquisition candidates should represent a major technological leap forward, have an existing global market, be socially responsible and have a customer in place prior to acquisition.
COMPANY DESCRIPTION: UTEK® is an innovative technology transfer company dedicated to building bridges between universitydeveloped technologies and the commercial sector. UTEK, along with its TechEx and UVentures on-line and its PAX European divisions, identifies and transfers new technologies from universities and research centers to the marketplace. As a business development company, UTEK provides research outsourcing services to commercial enterprises and technology-transfer services to research institutions. UTEK® creates value for universities and laboratory research centers by transferring their intellectual capital to commercial partners. Technology firms benefit from having the opportunity to acquire and commercialize new technologies developed by universities, medical centers and federal research laboratories.
RECENT DEVELOPMENTS: • In November 2003 the Company acquired the Uventures.com website and certain other intellectual property assets from Uventures, Inc., an Internetbased exchange for the marketing of physical science technologies developed at universities and research organizations. • The UTEK model creates a win-win solution for both universities and small public companies, as UTEK's unique approach serves as a bridge for growing technology companies with university intellectual capital. • There is a dramatic global demand for new technology. Thousands of public companies with market capitalization of up to $250 million operate with limited ability to conduct basic research and limited R&D budgets.
R e al-time Pu bl ic Comp any Pro fil es avail ab le at
44 Valu eRi ch Magazin e
o
T he Sou r ce for New T echno l ogy
STRATEGIC BUSINESS PLAN: UTEK has four specific strategies to contribute to their success. • Establish a corporate culture based on fairness, professionalism, opportunity and enthusiasm. • While providing our corporate customers with a low-cost outsourcing solution for technology development, we will simultaneously provide universities with 100 percent of royalties to support and expand their research . • Provide our customers with equity financing to facilitate technology purchases. • Listen and respond to the needs of our customers and associates. Select our strategic alliances based on their ability to innovate or their capacity to successfully bring new products to market.
MANAGEMENT: UTEK's leadership brings an in-depth understanding of the dynamics and issues necessary to transform the technology transfer marketplace. Clifford M. Gross, Ph.D., Chief Executive Officer, Chairman Bill Porter, ChiefTechnology Transfer Officer Jeffrey D. Bleil, Ph.D., ChiefTechnology Officer Joel Edelson, VP Technology Alliances CaroleR. Wright, CPA, Chief Financial Officer John D Emanuel, VP and Chairman of Pax Technology Transfer, LTD. (UTEK subsidiary) Sam Reiber, VP and General Counsel
CONTACT INFORMATION: UTEK Corporation Clifford M. Gross, Ph.D., Chief Executive Officer 202 South Wheeler Street, Plant City, FL 33563 (813) 754-4330 Ext 227 Fax: (813) 754-2383 cg ross@utekcorp.com www.utekcorp.com
www.va lu eric honlin e .com
o
ValueRic h , Inc ., 1 .5 61 .83 2 .88 7 8
INVESTMENT BANKING/BUSINESS OBJECTIVE:
SUMMARY OF BUSINESS STRATEGY:
XStream Beverage Group, Inc. is seeking acquisitions of independent beverage distributors and bottlers with proprietary brands. The company is also seeking to raise capital.
XStream's mission is to build shareholder value through the accretive acquisition of regional beverage distributors and effectively leverage their outlets to cross-market inhouse and licensed brands. This will enable XStream to: ·Create and develop a network of distributors in key US regions and markets. • Consolidate sales and marketing efforts. ·Cross-market new in-house brands and those acquired from regional bottlers. • Attract companies looking to capitalize on their regional brand names and production efficiencies, and accelerate their expected organic growth rates.
COMPANY DESCRIPTION: XStream Beverage Group, Inc. (OTC BB: XSBG), headquartered in Boca Raton, Florida, is developing a network of small-to medium-sized beverage distributors to grow the sales and market coverage of proprietary and independent value-added beverage brands throughout the United States. The Company has completed its first two distribution acquisitions, Universal Beverage of Florida and Finish Line of Connecticut. It is currently formalizing letters of intent to acquire additional beverage distribution operations as well as finalizing the terms to acquire a juice trademark for the U.S. market from a Canadian firm. XStream recently introduced its first original beverage, an energy drink called Yohimbe.
CONTACT INFORMATION: Steve Haglund, CEO 621 NW 53rd St., Suite 145, Boca Raton, FL 33487 561-982-7997 shaglund@xbev.com www.xstreambeverage.com
Real-time Public Company Profile s ava il ab le at • www.va lu ericho nl ine.com • Va lu eRi ch, Inc ., 1.56 1.832 .88 7 8
Speczailzirzg in fine art inj(uenwf 6y tfic Jrertcfi I
tSt Scfioo(
"La Regare Devanr Ia Plage Animee"
Contemporary h·cnch \ni't" and Post lmpre!'J!\ionists Including: 1
MARCEL MOULY PAUL AMBILLE CONCHITA CONIGLIANO LOUIS ROSAN LOUIS FABIEN WILLIAM MICHAUT RENEE THEOBALD DOMINIQUE OBENICHE JEAN MARIE DUAN JACQUES EITEL MAX DANTON PIERRE NEVEU DANIEL COUTHURES
ANDRE HAMBOURG JEAN DUFY MARCEL COSSON CONSTANTIN KLUGE ELISEE MACLET ANDRE DUBOURG BERNARD BUFFET jACQUES BOUYSSOU YOLANDE ARDISSONE ZVONIMIR MIHANOVIC MICHEL HENRY JEAN VOLLET PIERRE de MOUGINS
E-mail: info@phillipsgalleries.net
(561) 832-6311
ValueRich Magazin e 45
Tehama partners Clint Eastwood and Nancy Haley
Cover
TEHA A Hollywood Icon's Fashion Brand Takes Off Clint Eastwood and Nancy Haley met on the golf course. Their friendship blossomed into entrepreneurship. Now they're turning the leisure fashion world every which way but loose. Story by David Willson Photos by Glenn Cavalli When graphic designer Nancy Haley took
golf course.
her stamp of approval. She loves the prod-
up the sport of golf, she noticed that most
"Ti ming is everything," says Nancy. "He's
uct development side of the business. "In
fashions available for women in golf shops
right in the midd le of developing this golf
the last ten years, the technical advance-
were less than inspiring. So in the mid-'80s,
course, I had just retired, and I think he saw
ments of fabrics and fabrication have really
she launched the sportswear company
something there that wou ld be a natura l. He
been super for golf," says Haley. "In every-
Sport Haley featuring her designs. She took her company public in the early '90s in order to raise expansion capita l. However, she ended up leaving the company she founded in 1996, completely discouraged. "This is an age-old story," Nancy says in a phone interview w ith ValueRich magazine. "I had brought in a partner and our philoso-
kept asking, 'What are you going to do now
thing from sweaters to shirts to slacks, espe-
that you're retired? Don't you need to work?
cia lly woven pants, add Lycra and you get
You seem li ke a girl that needs to keep
tota l ease of movement, there's no restric-
working.'
tion. Not only that, but it adds a real soft
"I figured, what have I got to lose by asking
hand to everything it's added to.
he can only say'You've got to be kidding,'
"Blending polyester microfibers with
so I asked him,'Why are you asking- would
materials li ke Pima cotton or rayon mimics
-
you be interested in doing someth ing with
other natural fabrics such as silk, suede or
phy for business clashed. I'm a big believer in
sportswea r for golf?' -
cashmere. We have developed a microfiber
quality products, customer service and mar-
me and said,'we can ca ll itTehama.'
and he just looked at
gabardine twil l. You can't tell the difference
keting, and he was more of a believer in
"The blood rushed out of my head and I
money. With a public company, what
just about fainted right on the spot," Nancy
microfiber gabardine- and you can throw
became more important was dollars and
says, laughing.
ours in the washing machine!"
cen ts, ignoring al l else."
"We met in his business manager's office a
between expensive gabardine wool and our
Of course, the marketing ofTehama ben-
The joy had gone out of the business for
couple of week later and agreed that we
efits immensely from Clint Eastwood. He sa id
Nancy. She didn't think she'd ever go back to
wanted this to be fun. We wanted Tehama to
to Nancy in the beginning, "You make
the sports apparel business again. Events
be a upper median priced superior product
clothes, I make movies, let's do what we do
quickly conspired to prove her wrong, how-
-a great va lue for the money," Nancy recal ls. "Marketing a product using a Hollywood icon
best." He is committed to being the image of Tehama. Cli nt and his w ife Dina act as mod-
like Clint Eastwood seemed like a dream."
els, and he has also made himself available to
ever. Nancy loves to tell the story. "When I left
appear on Good Morning America, and do
my company, I actua lly had time to do
Haley and Eastwood started Tehama (pro-
things, like go to Carme l and play golf. I met
nounced Tah ~ ma) each owning 20 per-
promotional events. The slogan, "A Lifestyle
Clint Eastwood through my husband who
cent shares in the company. They did three
Starring Cl int Eastwood as Himself," appears
private offerings over three years, ensuring
on every m arketing piece.
had known him for ten years, playing golf." At the time, Clint was building the Tehama Golf Club, which had been a per-
thatTehama was well-funded. The company showed a profit in its fifth year.
"Tehama is something you put on in the morning, you go to work, and in the after-
sona l dream of his. For yea rs, he had owned
The early success of the Tehama brand is
noon you can play 18 holes of golf, go out to
land up in the hills above the Carmel Va lley,
a direct reflection of Nancy Haley's touch.
dinner and a movie, all wearing the same
and his dream was to have his own private
Not a product goes out ofTehama without
clothes- there's no need to change your ValueRi ch Magazin e 47
clothes," says Nancy. "Clint says that all the t ime -
he even says, 'It's so comfortable
you can sleep in it.' I say 'Clint, let's not go too far with that."'
and merchand ising of lzod golfThey signed the deal in December 2003.
appare l wi ll be in the golf shops. Will we be seeing images of Clint
Clint and Nancy are very excited about
Eastwood and Disney characters together
bring ing the well-known lzod brand back to
on store d isplays? Probably not, but th is
Tehama is one of the fastest growing lux-
the No.1 status it once enjoyed in golf. Using
contract definitely means a fistful of dollars
ury lifestyle brands in the country. The li ne
updated designs, superior quality and cre-
for Tehama .
has been named to the Robb Report's "Best
ative marketing, Tehama foresees their lzod
of the Best Apparel Brands" top five list four
li ne as hip, edgy sports fashion .
"We are constantly ta lking about new products to add," Haley says,"l ike golf shoes,
years in a row and is doing wel l in better pro
Arnold Palmer
sung lasses, maybe even a line of Tehama
shops and resorts, as well as at Nordstrom
Tehama was also recently approached
furniture. "
and Saks Fifth Avenue.
by the Arnold Pa lmer Group to take the
Tehama's success is remarkable considering that reta il markets have been so soft late-
reigns of their brand. 'This is rea lly exciting," says Bob Shell,
Eventually, the largest potential growth area for Tehama is completely separate from products for reta il and pro shops. It is the
ly. Most retai l companies have been pursu-
"Arnold Pa lmer is huge in golf and he's one
corporate in -stock business -
ing cost conta inment instead of growth
of the most beloved golfers of all time. He
through ASI (ad specialties incentives) chan-
strategies -
has contributed so much to the game."
which may be the reason why
sel ling
nels to end users, many of them Fortune
Tehama caught the attention of so many big
'The marketing for Arnold Palmer is real-
500 companies. They purchase Tehama
players in merchandising and sports com-
ly going to be fun," says Nancy. "We have
apparel to embroider with their logo for
munities. As a resu lt, Tehama's growth plan is
some incredible photographs of Arnie
special events, interna l gifts and employee
in overdrive. It has announced major new
when he used to hang around with
incentive programs.
partnerships and agreements one after
Nicklaus and Hogan and those guys in their
It's an enormous, fast growing area.
heyday, and the attitude was just awesome.
Tehama has been developing th is business
They were very hot."
for three years . AS I products currently
another.
Asian Markets
account for 20 percent of Tehama's busi-
In October 2003, Tehama announced a
Both the lzod and Arnold Pa lmer prod-
licensing agreement with t he $100 bill ion
uct li nes w ill sell for $50 and under. Wh ile
ness. In five years, they expect it to grow to
Japanese investment and trading company
Tehama cloth ing starts at $65 and goes up
50 percent.
Sumitomo Corporation. Sumitomo is one of
to $250 for some of the jackets, lzod and
With the lzod and Arnold Pa lmer licens-
the ten largest companies in the world.
Arnold Palmer wi ll each operate as a sepa-
es, and the marketing clout represented in
Tehama joins other qua lity leadersh ip
rate division within Tehama . Each w il l have
relatio nsh ips with Sumitomo and ESPN,
brands li ke Eddie Bauer and Coach using
its own genera l manager, vice president of
Tehama has made great strides toward
Sum itomo as their brand caretaker for the
sa les, design and customer service staff.
accomp lishing its growth plan. "We are
Interestingly, this isn't the first business
financially stable and have enough money
Sumitomo immediately launched a line
all iance invo lving Clint Eastwood and
to grow for a couple of years, but then we
of men's suits, shirts, accessories and outer-
Arnold Pa lmer. They are also pa rtners in the
are going to need to take the company
wear under the Tehama brand, which has
ownersh ip of the Pebb le Beach Resort
pub lic, se ll, or find a strategic pa rtner," says
already exceeded expectations. A sports-
properties.
Nancy. "If you look at what we've got now,
wear li ne is slated for next spring. Tehama
ESPN
we've created a pretty exciting package w ith splend id growth potential.
Asian market.
president Bob Shell th inks that in five yea rs
Tehama has also an nounced that they
Tehama could easily be a $50 mil lion brand
will join Visa, Lexus and U.S. Airways as part-
"Large public companies are looking fo r
in Asia.
ners with ESPN in their go lf schools. Tehama
companies like us who are on the up side of
lzod
will povide cloth ing to instructors and the
the bell curve, with tremendous growth
In the '80s, lzod was the most successfu l
brand name wi ll appear on all ESPN promo-
potential. That's part of our strategy. If we
tiona l materia ls and websites.
didn't have th is strategy, we wou ld just be
franc hise in golf shops -
but lzod's golf
sa les have languished lately. When the pre-
Disney
doing Tehama and be as happy as clams for
vious licensee's ag reement expired last June,
In another recent coup, Tehama was
the next ten years." She pauses for a second,
lzod parent company Phillips-Van Heusen
awarded official golf apparel supplier at all
and then with a ring to her voice says, "I've
Corporation approached Tehama about tak-
of the Disney Resort properties. Disney
got to tel l you, building something like this
ing on the design, distribution, marketing,
emp loyees w il l be wearing Tehama, and its
is pretty exciting." VR
48 Valu eRich Magaz in e
Fac Diem Meam Jackets Dina and Clint show their patriotism in black leather and denim jean jackets embroidered with Old Glory, "Make My Day" in Latin and the Tehama logo.
The Good, Bad and Ugly Jacket Wear it as a vest in good weather, a ha lf sleeve jacket in bad weather and a fu llsleeve jacket in rea lly ugly weather.
She's wearing a washed linen jacket with petal Lycra t -shirt and tropi cal print capri in rayon herringbone.
The Midnight in the Garden of Good and Eyi/ collection Below right , Dina wears a 3/4 sleeve embroidered
The Blood Work collection Woven shirt and Friscon Cord polynosic pants with Croco brown leather belt.
ERICA COURTNEY Hollywood. baby. Hollywood. 7465 Beverly Blvd .
Los Angeles, CA 90036
323 .938.2373
www.ericacourtney.com
n.Desi n
The Secret Designs of Nick Mongiardo By Jenny Wonderling
Nick Mongiardo has designed and built furniture for Giorgio Armani, Yoko Ono, Calvin Klein, Michael Chow and Jann Wenner, among others. Yet while the list goes on, his name remains a mystery to the general public, even to those who have acquired his pieces through a decorator or boutique that failed to mention him. He is, as Keith Barrish of Planet Hollywood says, "One of the best-kept secrets in the industry." So why, after three decades of restoring,
business, always hoping the quality of the
t ure was fal ling through some funne l,
creating and executing some of the most
work would speak for itself. Furniture he
becom ing generic. But to maintain the qual-
noted designs of the century, is Mongiardo's
bui lt for clients like Calvin Klein and Donna
ity that we need, w hich I won't compromise,
name known only to an elite circle of high-
Karan has appeared in numerous publ ica-
we can't afford to sell who lesale anymore."
end fashion designers, architects, restaura-
t ions with no mention of Mongiardo at al l.
In the past, Mongiardo had sold his
teurs and the like?
The "Spoon Cha ir" (for Donna Karan) in par-
pieces at cost to designers, and through
Early in his career, Mongiardo painted a
ticular has been featured in at least eight
stores like Wyeth in New York. In 2000,
hot rod that won first prize in a contest. The
magazines with no credit to Mongiardo and
Mong iardo and his wife Lydia opened t heir
owner was quoted in a magazine as having
Les lie Steven, its rightfu l creators. "No one
own boutique, Lydia Mong iardo Collection,
painted the car himself. It seems that from
wants to source us out," Mong iardo
in Lenox, Massachusetts. A perfect blending
early on, the issue of Mongiardo working
exp lains,"so they have gone so far as to say
of Nick's furniture and Lydia's impeccable
meticulous ly for minimal credit has been a
t he items were purchased in Asia, Africa,
sense of color, design, and space, the store
recurring theme: the eternal battle of art
even by other designers. Anywhere but in
also showcases a select handful of other
versus commerce. Apparently, with such an
my stud io!"
artists, jewelry designers and artisans, and
intense focus on the art alone, Mongiardo
Without any real recogn it ion for his
has a distinctly refined, almost As ian fee l, as
failed to protect or sufficiently promote his
efforts, Mong iardo said, "I t was like my furni-
does their nearby pagoda-style home which
Ruhlmann style Maharaja Sofa -
Ruhlmann used onl y the finest material s; hand-carved solid macassar ebonized arm rail and Dual oy leather.
Photo: Sarah Gross
ValueRi ch Magazin e 57
Mongiardo desig ned and built himself When Calvin Tsao, the esteemed designer of the Wheatleigh Hotel in Lenox and
years, he has restored hundreds of extraor-
New York-based financier and producer,
dinary objects. Bernard Dunand sa id about
says," He's the g reatest furniture maker work-
his father,
ing today and a true artist."
"In his hands, craftsmanship
arch itect ofTsao & McKaan, wa lked into the
became an art." The quote also describes
boutiqu e for the first time, he encountered
Mong iardo.
Mongiardo expresses disdain for the assumption that an artist's style shou ld be
the creator of the furniture he had admired
His personal works, however, while often
homogenous.''! hate those art shows where
for so long."l guess the eat 's out of the bag !"
an allusion to ea rl ier masters, are not lim ited
everything looks the same," he says wryly.
he exc laim ed. Tsao eventually commis-
by those trad itions. His expansive studio, like
The un likely con trast of designs revea ls Mongiardo's pro lific diversity of skill and his broad definitions of beauty. Sensua lity and elegance seem to be the un ifying factors in al l his objects whether decorati ve screens, chairs, tables, frames, mirrors, jewelry, or lighting fixtures. The reflective qualities of his fi nishes are made up of a deep layering of colors, blacks over red s, rich browns over ye llows.
"With lacquers, you are actually
looki ng in to look out," he explains."There is a reverberation of color." Run your hand over one of his finishes and you might imagine the taut skin of an athlete. The frames on one work table are clearly African-inspired, revea ling patterns that resemble the scarification of young warriors. "The percentage of great th ings being
Ruhlmann style Gonse Chair- The chair floats effortlessly on three points of balance.
made is less than years ago," Mongiardo expla in s."lt's a disposable world, it's depress-
sioned Mongiardo pieces for the hotel. Matt Nye of Matt Nye Inc., a New York-
ing, and t hat's w hy we do w hat we do. I'll die
based des igner who co ll aborated with
doing what I'm doing but I am not going to
Mongiardo on Jann Wenner's (Rolling Stone
bu ild less quality. We bu ild things to last
magazine) mansion, says, "N ick rea lly partic-
your lifetime." Jerry Moss, co-founder of A&M and
ipates in the process of design; there's a dialogue. He's a real craftsman. He does every
Rondor
piece by hand, all sma ll scale. When you
Mong iardo's pieces for th irty years. "I think
Records, has
start mass-producing, the work loses its fin e
Nick's brilliant," he says."He's also fun to work
qua lity, the th ing that made it so special. "
with because he has such an interesting
been
acquiring
Nick Mongiardo, his eldest son Taj and
sense of design and joie de vivre. When
four fu ll-tim e assistants are collectively
asked why he thinks Mongiardo's work isn't better known, he answers,"People don't get
known as Decorative Arts Stu d io. Located in Housatonic, Massachusetts, the studio specializes in the restoration of early twentieth
Mongiardo 'Z' Lamp -
playfully hammered steel and alabaster.
cred it fo r making things more beautiful the way they do for having the original
century French furniture and accessories, namely those of esteemed designers Jean
his home, revea ls the sleek finishes and classic designs reminiscent of Ru hlmann and
thought." A good portion of Nick's work has other, more famous designers.
been the restoration and reproduction of
Dunand, Emile-Jacques Ruhlmann, Pierre
Chareau juxtaposed against others that are
Chareau, Jean-Michel Frank, Joseph Urban,
strikingly modern .There are also the elegant
It is the business of restoration, though,
Armand -Albert Rateau and Eileen Gray. Like
yet primitive designs, such as those execut-
that may evoke some of the rich est stories. Concerning his greatest design infiuences,
his predecessors, Mongiardo has developed
ed fo r Donna Karan. It is Nick's craftsman-
his expertise in the varied arts of woodwork,
sh ip that has helped make t he minimal
namely the early twentieth century French,
metalwork, lacquer, eggshell inlay and more.
Asian aesthetic of her home decor almost as
Mongiardo says, "The pieces themsel ves
Throughout a career that spans thirty-four
well-known as her clothes. Keith Barrish, the
have personal ities of their own.They are just
58 ValueRi ch Magazine
like people-some are pleasant, some are
to accompany them through time."
suicidal, we've even had pieces that almost
When asked where he thought his sense
jump off the table. I only need a fragment of
of aesthetics comes from, considering he
they were great at what they did. If I think someone is a master at what they do, I like to find the time to spend with him or her."
the piece to recreate whatever it was that's
grew up in a family with, he says, no artistic
Mongiardo first fell in love with smooth
been missing. So you can give me one leg
vision, he res pond s, "It's a mystery. Growing
finishes as a child laboring ove r uncount-
from a Jean Michel Frank chair and I'm
up in Canarsie, Brooklyn, it was a big dea l to
able mode l toys. At age twelve, Mongiardo
going to give you the rest of the chair. And
leave the neighborhood, wh ich was about
and a few neighborhood boys combined
in the restoration of it, if you try t o do it
ten blocks square. Nobody crossed the
snow-shoveling fortunes and bought a
another way the piece itself w ill tell you that you are going in the wrong direction. "Our theory is to return it to its original presentation, which is anti-museum. That's why we have rarely worked for museums because their theories of restoration and ours are quite different ... although many of our things have ended up in museums. They are into the aesthetic of leaving pieces in the original condition and [just] repairing wha t is damaged. Americans especially want French Art Deco furniture to be perfect -
they [usually] don't have the aes-
thetic of something being in disrepair but there's nothing bener than a distressed original piece, as long as it is still functional. Funny, the world seems to think that every major piece of Deco furniture happened to
Mongiardo Dining Table- Exotic Kawazinga wood on a brushed stainless-steel wedge base .
be in perfect condition. I venture to say that
wreck of a car for $50. That stripped -down
they weren't. "People don't want to know that some-
class ic design and restoration . His early
thing's been fixed, " Mongiardo adds."So the
interest in veh icles led him to employment
1929 Ford may have spawned his love for
fact is that when you fix something correct-
w ith Porsche/Mercedes, whe re he trans-
ly, you are invisible. The object of a great
ferred to the body and paint restoration
resto ration is to leave no trace. it's like coun-
department and learned welding, metal
terfeiting. And if you fail, that's your signa-
straightening and painting. He developed a
ture. That's when you become known."
critical eye for color matching and opened
He explains that the twentieth centu ry
his own auto-body shop, special izing in cus-
masters made everything from hinges to
tom painting. Eventually his interest turned
locks by hand and that it was their imper-
to antiques and importing furniture from
fections that created the uniqueness of the finished piece. Mongiardo cal ls t hose blemishes "consistent inconsistencies," and that is what
you
becomes
Europe. After restoring and furnishing a
Mongiardo Planter -
Japanese lanterninspired goatskin and bronze planter.
Victorian townhouse he was awakened to the clean lines and smooth surfaces of
manufacturing
bridge. Going to Manhanan was almost like
Deco. "Apply the Mercedes finish to 1930s
mechanized, mass-produced.
you were taking the Santa Maria and dis-
furniture," he thought.
lose
when
"When all those consistent inconsistencies
covering Americal"
In 1974,a bedroom suite he had restored
are put into one, it works. I've seen repro-
But Mongiardo can quickly recall the var-
for Alan Moss, one of the most knowledge-
ductions by other people and they are lack-
ious influences that set his path. "I lived by
ab le dealers in the design industry, was
ing what I consider that major ingredient.
the Brooklyn Museum, so I would go there
exhib ited at the Radio City Deco Show. It commanded so much attention that it
"The mystery of these pieces is unbeliev-
all the time, see thi ngs. I've also always had,
able," he says refiectively. "I always thought
like, surrogate fathers. From machinists to
secured his next career as an expert restorer
the furniture should have a trave logue book
racecar drivers, it didn't matter, as long as
of Deco furniture. Extensive research into ValueRich Magazin e 59
Ruhlmann Style Ball Table - Th is reproduction uses bent recycled ivory inl ay techn iq ues not seen since 1925 (i nset , left) on a tab le made of macassar ebony and amara nth veneer.
Chareau Style Table Lamp - Mongiardo ce lebrates the luminous style of Pierre Chareau with thi s lamp constructed from mahogany and bronze with alabaster shades .
the period led him to his first experiments
and immed iately turned t he table upside
when t hey designed and built the Armani
w ith eggshell inlay and lacquer. The artist's
down. I knew I had hi s number."
store in Las Vegas. Working closely, they
pa ins to achieve the fin ished product of this
In a phone interview, M ichae l Chow
spent the better part of a year executing
ancient technique can be quickly over-
describes Mong iardo as"the best of his craft,
gold-leafed disp lay cases and the famed
looked. A mere square foot of the labor-
the Rolls-Royce of w hat he does. His work is
Chow "Eggs." The breaking point, though,
intensive process of eggshe ll in lay requires
so movin g, so ve ry beautiful. In America he's
was Chow's design for a leather-lined cloth-
approximately eighty hours to create. His
certainly the best, yet he's not adequately
ing cabinet decorated w ith mother-of-pearl
furniture, util izing these techn iques, became
appreciated."When asked why, he says,"First
lacquer, sand -blasted glass, slid ing glass
a passion and was soon exh ib ited at the
of all, you j ust don't have many cl ients that
doors, lit floor to ceiling, complete with a
Cooper Hewitt Museum (1977), besides se ll-
require such a high standard in this day and
th irty-four foot airplane wing and surf-
ing his own designs to Yoko Ono and John
age. In the last sixty years, the who le world
boards to boot, the entire structure listed in
Lennon, Jann Wenner and ga llery owner
has homogen ized and does not respect
opposite directions. Nick said, "The Arman i-
Lillia n Nassau. Some rare pieces that have
craftsma nsh ip. In the land of prot ected
Las Vegas project did it. Fried me. I never
passed through Nick's hands have been val-
mediocrity, w hich is addict ive even if you're
want to work like that aga in."The combina-
ued at more than two million dollars.
offe red so met hin g great, people crave
tion of underbidd ing, lack of appreciation
mediocrity. It al l comes down to econom ics.
for the work and the stress of deadlines became the catalyst, ultimately limiting the
Twenty-five years ago, Michael Chow, the esteemed restau rateur, designer, artist and art collector, gave Mongiardo a table to
Nick is a dying breed."
resto re. It was t he fi rst of many. "It was th is
about Chow." Meet ing the Chows and work-
very low, completely destroyed eggshel l
ing with them has been so inspirationa l.
Dunand tab le, and paint was com ing off
They have such a finite eye and it turned me
Mong iardo is equa lly complimentary
amount of commercia l work he would accept in the future. Rather than be torn between the contrad ictory
pu ll s of art
and
commerce,
everywhere," says Mong iardo. "I spent as
on to another level of vision . He's a genius,
Mongiardo has soug ht to achieve more bal-
much t ime on the underside of the table as
the best w hen it comes t o design."
ance in his persona l life. At his home,
I did on the top. And when I brought it to
After numerous restorations and collab-
imp romptu d inners fl ouris h. There is music,
Chow, he sat on the floor, crossed his legs
orations with Chow, t hey teamed up again
laughter and lots of wine. Young children
60 Va lu eRi ch Magazin e
dodge priceless furniture and decorative
cha irs and tables."
Clay in London who couldn't recommend
screens. I ask Nick how he can have the
Cand les cast the ir glow and Nick's face
you enough. And I'm not going to give out
much sought-after furniture of Chareau,
transforms as he speaks. Around him sit a
your number either!' And then she request-
Dunand, and Frank along with hand-paint-
chef, a book publisher, a write r, a sculptor,
ed that I do the mural anonymously! " he
ed velvet pillows and exquisite vases in a
one photographer, his son Taj, and Lydia, his
says, laughing over it all.
house with two boys and their young
radiant wife. Between bites of homemade
friends.
lasagne and mesclun sa lad, we are mesmer-
Mong iardo had the impetus he needed to
ized, suspended, often convulsed w ith
open Lydia Mongiardo Collection and get
laughter.
the recognition he has long deserved. The
Traces of Mong iardo's upbringing seep out of every sentence. Words are punched
No longer laboring
in
obscur ity,
out in Brooklynese, with curses and hand
Mong iardo begins aga in: "A few years
store is phenomenally successful, with inter-
gestures added for emphasis in case you
ago I got a call from a gal lery owner. This
national clients responding to the unparal-
missed something, which is impossible.
woman was designing a hotel and wanted
leled quality of his work. Content to have
"Because their lives are more important
a bid on a similar mura l to one we executed
fina lly struck a better balance between work
than the surfaces," Mongiardo says. "I
for Sigourney Weaver's character's apart-
and family, he can appreciate the fruit of his
remember when my eldest son, Taj, [now
ment in the film Copy Cat." Mong iardo's
labors in a way he never had time to in the
twenty-seven] was little. I once flipped out
vo ice for now takes on the cadence of an
past. Mongiardo's eyes grazes the objects
because he put a lunchbox on a table and
older woman."'! had to ca ll all over t he world
around us and says, "You know, maybe
then I realized what I was doing. I decided
for your number! Al l the best peop le in
they'l l be the heirlooms of the future. Like
then that I would never allow things to dic-
Hollywood seem to know your work but no
Dam ion Pedutto says,'You're creating some-
tate the discipline of my children. It's all fix-
one would give up any information on how
thing that will never be disposed of, or
able, but people are much harder to fix than
to find you! I final ly got in touch w ith Jim
should never be."' VR
Valu eRi ch Magazin e 61
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The company is seeking strategic relationships and/or acquisitions to expand its ad-processing platform to media companies and vertically integrated online businesses.
The Company plans to continue focusing its sales efforts on large and middle-tier publications, aggressively marketing its ad-processing platform to media companies and vertically integrated on-line businesses. Ad Star will also pursue relationships with third parties that are able to integrate the classified ad requirements of their customers with the Company's technology and/or those that offer complementary technologies which will allow AdStar to receive additional fees when advertisers access its services.
COMPANY DESCRIPTION: Ad Star, Inc. offers publishers and advertisers superior e-commerce services and a unique technology infrastructure that facilitates electronic ad-transaction services in the $20 billion classified ad industry. The Company's products bridge disparate technologies and systems in a way that provides for seamless communications and transmission of ads between advertisers and publishers for print and/ or online publication. Ad Star has developed strong relationships with several of the leading newspaper publishers (e.g., Chicago Tribune, Belo Corporation), along with thirdparty ad providers in the real estate, automotive and recruitment industries, the Newspaper Association of America (NAA) and CareerBuilder. RECENT DEVELOPMENTS: • In October 2003, AdStar acquired Edgil Associates, the leading supplier of complete automated payment processing systems and content processing solutions for the publishing industry. • In September 2003, the Company closed a Private Placement for nearly $2.0 million. • For the quarter ended September 30,2003, ASP revenues increased by 53 percent and the Company reported a net loss of ($414,480). • AdStar's Application Service Provider (ASP) revenue model represents the fastest growing segment of the Company's business. ASP fees grew 74 percent for the nine-month period ending 9/30/ 03, when AdS tar's ASP infrastructure processed over $52 million in classified ad transactions.
Rea l-time Public Company Pr ofiles availab le at
o
MANAGEMENT: Leslie Bernhard, President and CEO, founded the company along with Eli Rousso in 1986. Prior to founding Ad Star, Inc., Ms. Bernhard was a partner at Multiple Funding Services, Inc. Eli Rousso, Executive VP, CTO, Secretary and Treasurer, a founder of the Company, heads the software development and technology operations and is the chief architect of AdStar's technology. Jeffrey Baudo, Senior VP and COO, joined the Company in 2001 . Prior to joining AdStar, Mr. Baudo spent 25 years in the publishing industry (including Dun & Bradstreet's Yellow Pages division) and more recently served as president and COO of Advertising Periodical Publishers. Anthony J. Fidaleo, VP Finance and CFO, was VP/ controller at Autobytel.com before joining AdStar. CONTACT INFORMATION: AdStar, Inc. Jeffrey Baudo, Senior VP and COO 4553 Glencoe Avenue, Suite 325 Marina del Rey, CA 90292 (31 0) 577-8255 Fax: (31 0) 577-8266 jbaudo@adstar.com www.adstar.com
www.va lue richonline .com
o
Va lu eRi ch, Inc ., 1 . 561.832.8878
Valu eRi ch Magazine 63
INVESTMENT BANKING/BUSINESS OBJECTIVE: Seeking strategic merger, joint venture or acquisition
COMPANY DESCRIPTION: AVI BioPharma, Inc. is developing a robust pipeline of therapeutic products for treating life-threatening diseases using third-generation NeuGene® antisense technology. NeuGene compounds are highly specific and have broad applicability. We have completed nine clinical trials with our NeuGene drugs in more than 250 subjects addressing cardiovascular restenosis, cancer, polycystic kidney disease and drug metabolism. We have shown that our novel antisense drugs are both effective against their gene targets and well tolerated in early clinical data. AVI's second technology, AVICINE® cancer vaccine, has successfully completed six clinical trials and is
expected to enter Phase Ill studies in pancreatic cancer. AVI's diverse product portfolio and its technology platforms in antisense and cancer immunotherapy reduce dependence on a single approach or a limited number of drug candidates.
COMPANY CONTACT: Michael Hubbard, Director of Investor Relations One SW Columbia, Suite 1105, Portland, OR 97258 Phone: 503-227-0554 E-mail: hubbard@avibio.com Website: www.avibio.com
INVESTOR RELATIONS CONTACT: Lippert/Heilshorn & Associates, Inc. Bruce Voss:bvoss@lhai.com Jody Cain: jcain@lhai.com Phone: 310-691-7100 Web site: www.lhai.com
Re a l-time Publ ic Comp any Profi les avail abl e at • www. va lue ric honlin e . com • Val ueR ich , In c ., 1 . 561 .832 .8878
Small-cap markets don't last forever. Will your company fully participate in the one currently underway? Founded in 1990, RJ Falkner & Company provides highly effective, pro-active investor relations services, in the form of independent research , to a small and very selective group of public companies. By leveraging our staff's more than 100 years of combined investment research experience, we broadening the exposure and raise the profiles of our clients within the investment community. Our approach is to interact with small- and micro-cap money managers, retail brokers, high-net-worth individuals and online investors much more effectively than traditional IR firms.
Please contact Patti Mathews, Vice President of RJ Falkner & Company, Inc. at 800-3779893 or email at patti@rjfalkner.com 64 ValueRich Magazin e
INVESTMENT BANKING/BUSINESS OBJECTIVE:
GROWTH STRATEGY:
The Company is currently seeking to acquire, develop and manufacture new product technologies and expand its manufacturing capabilities through joint ventures and partnerships.
The Company's focus is to acquire, develop and manufacture new product technologies and to expand its manufacturing capabilities. Pursuant to perceived market demand, the Company has developed and is currently marketing the Bovie IDS 300-Watt and Bovie IDS 200-Watt digital generators under the newly formed Bovie sales division. In an effort to increase international sales and maintain its ability to sell products worldwide, Bovie has been certified as IS09001 / EN46001 quality system compliant and has been granted its CE mark (International Quality Control). ln addition, the Company has established several strategic development and manufacturing supplier agreements as well as international distribution relationships.
COMPANY DESCRIPTION: Bovie Medical Corporation manufactures and markets a variety of electrosurgical medical products and develops related technologies and products. The Company directs its efforts and resources towards manufacturing a wider range of electrosurgical generators and accessories for physicians, hospitals and outpatient surgeries. Electrosurgery is used in 80 percent of all surgical procedures performed worldwide. Bovie is also engaged in a joint venture to develop a technology (J-plasma) that utilizes a helium gas ionization process. The device produces a stable focused beam that offers a controllable range of temperatures and intensities, thus allowing the surgeon both precision and minimal invasiveness because of the absence of conductive currents during surgery.
RECENT DEVELOPMENTS: • Announced our move to the American Stock Exchange • Reported revenues increased 33 percent to a record S12.4 million and record net income of $944,324 or $.06 per diluted share for the nine month period ended September 30, 2003. • Acquired an exclusive license to manufacture and market an innovative suture removal device. • Signed a development and manufacturing agreement for new electrosurgical generators with large medical company. • Selected by the Hea lth Industry Distributors Association as the Manufacturers Excellence in Service Award winner. • Received FDA clearance to market Bovie IDS 300 fully-digital electrosurgical generator.
MANAGEMENT Andrew Makrides, Chairman of the Board and President, became President of the Company in 1985 and the CEO in December 1998. He is a member of the Bar of the State of New York and has practiced law since 1968 J. Robert Saron, President of Aaron Medical Industries, a wholly owned subsidiary of Bovie Medical Corp., has been a director of the Company since 1994. Moshe Citronowicz, Executive Vice President and Chief Operating Officer, joined the Company in 1993 after working in a variety of manufacturing and high tech industries. He is responsible for manufacturing, purchasing and product design as well as new product development.
CONTACT INFORMATION: Bovie Medical Corporation Andrew Makrides, President 734 Walt Whitman Road. Suite 207 Melville, NY 11747 (800) 888-4999Fax: (631) 421 -5824 boviemed@aol.com www.boviemedical .com
R e a l-t i me Public Company Profiles ava il ab le at • www.va luericho nl ine.com • Va lue Ri ch, Inc., 1 . 5 6 1 .83 2. 8878
Valu eRi ch Ma ga zin e 65
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
The Company seeks to increase shareholder value by exploring relationships to broaden the range of products and tools available to its target markets.
As the only vertically integrated company in our industry, the iCAD plans to establish a competitive position in t he higher-volume segment of the mammog raphy market on the basis of technological advantages. In addition, iCAD plans to broaden the range of products and tools available to its target markets. iCAD uses competitive costs and other advantages derived from vertical integration to expand the market for iCAD products.
COMPANY DESCRIPTION: iCAD, Inc. a medical imaging technology company, has developed and is marketing an FDA-approved Computer Aided Detection (CAD) system for the early diagnosis of breast cancer. iCAD offers the fastest CAD system available, the only system that can find asymmetries, and the most effective system available to detect breast masses.The iCAD system is the only CAD system designed on a relational database platform. The iCAD system can improve productivity and reduce operating and capital costs at women's health care centers by offering computer-assisted detection as an integrated or integration-ready part of current or anticipated informatics systems, digital imaging resources, and workflows. iCAD is the only vertically integrated company in its market, and also manufactures medical film digitizers for a variety of medical imaging and other applications.
RECENT DEVELOPMENTS: • On December 1, 2003, the Company announced that it had entered into definitive and binding agreements under which iCAD will merge with privatelyheld CADx and Qualia (together, CADx). • In November 2003, iCAD became a strategic partner with i3ARCHIVE's leading product, The National Digital Mammography Archive (NOMA), an archiving solution that allows participating hospitals and physicians to access the largest national database of mammography images, associated clinical and demographic data, and centralized CAD algo rithms. • The Company received FDA marketing approval for the use of its CAD technology with the Fischer Imaging SenoScan digital mammography system in November 2003. The approval expands iCAD's ability to serve both the full field digital mammography and traditional screen film mammography markets.
R eal-ti m e Pub lic Company Profil es avail ab le at
66 Valu eRich Magazin e
o
MANAGEMENT: W. Scott Parr, President, CEO and Director, joined the Company in 1998 as President and CEO. Previously, he served as Divisional Director and member of the Board of Directors of SABi, International Ventu res, Inc. Maha Y. Sallam, Executive VP Annette L. Heroux, CFO and VP of Finance. Kevin S. Woods, VP of Research and Development
CONTACT INFORMATION: iCAD, Inc.
W. Scott Parr, President and CEO 4 Townsend West, Suite 17, Nashua, NH 03063 (603) 882-5200, Fax: (603) 880-3843 sparr@icadmed.com www.icadmed.com
www. va lueric h on line .com
o
Va lue Ri ch , Inc . , 1 . 5 6 1 .832.8878
Michael T. Lynch The finest examples of utilitarian objects
cialist dea lers came on the scene, including a
ers to keep cars in inventory, the market
often find themselves elevated to being
Ph ilade lph ia promoter, Kirk F. White, who put
benefited when the Reagan administration
thought of as art.
out brochures wh ich presented hi s wa res in
squeezed the inflatio n out of the economy
If you doubt this, try buying a Paul Revere
du lcet prose we wou ld today associate w ith
in the early '80s.
silver bowl or a Duncan Phyfe highboy at the
Beverly Hi ll s real estate. Ferraris were no
By the mid-'80s, prices were off and run -
next Christie's auction of American decora-
longer cars, but collectables t hat showed
ning, fueled by a surging market for art and
tive arts. Some automob iles have also
their owners to be people of wealth, taste
other collectibles, a societa l swing to con-
reached the status of being collectible. The
and a sense of adventure. For ea rlier models,
spicuous consumption, the rise of vintage
best-known post-World War II marque in this
depreciation had ceased.
category is Ferrari. While there are selected mode ls of other makes that sell for more, Ferrari has more models worth over S1 million than any other manufacturer. New Ferraris are expensive and often
Certain circles held the weird belief that all Ferraris would increase in value when Enzo Ferrari died.
involve waiting lists and above-sticker pricing, but because such a large percentage of
racing and newly organized tours. The momentum was partial ly fueled by the fax mach ine, just coming into w idespread use. As cars became avai lable, descriptions and pictures were sent to prospective buyers worldwide in a matter of hours, instead of the days and weeks it formerly took to dis-
Throughout t he seventies, the market
seminate the information. Dea lers were buy-
Ferrari production has survived, there is a
proceeded on a fa irly rational basis as t he
ing fairly ordinary Ferraris and rese ll ing t hem
remarkably active market for used cars. These cars are a combination of invest-
prices of low-production competition ca rs
for unheard of profits within weeks, some-
moved up and away from the higher vol-
times days.
ment and art, but their price movements do
ume road-going models. The bel lwether car
Believing he was an artist like Michelan-
not m irror either of t hese markets although
became the 250 GTO,a dual-purpose model
gelo or Jackson Pollack, certa in circles held
both affect collectible automobile prices.
of which 38 were bu ilt in the early 1960s.This
the weird be lief that all Ferraris would
From the beginning of production in
was a shapely coupe which wea lthy ama-
increase in value when the founder of the
1947, Ferraris were simply used cars until the
t eu rs cou ld drive on the street and still win
firm, Enzo Ferra ri, then in his eighties, died.
1970s, stuck in the $2,000 to $8,000 rang e. At
their class in the classic endu rance races like
Leaders in the madness were the Japanese,
that point, the sport of vintage racing was
Sebring and Le Mans.
w here a new generation began spending
beginn ing in America and awakened inter-
After a short run-up in prices in t he late
the money their parents had accumulated
est in 1950s Ferrari race cars. The passenger
1970s was nipped in the bud by high inter-
during the postwar econom ic boom. They
cars also began to climb in value. Soon, spe-
est rates that made it too expensive for dea l-
were buying cars as well as artwork and Va\ ueRich Magazine 67
365 GTB/4 Daytona This vintage Ferrari will keep up with all but the fastest of today's cars.
land mark properties around t he world, leveraging off their own wil dly inflated real estate. Headlines told the story of a 300-square-foot ta il or shop in downtown Tokyo that so ld for $7.5 million. Ferraris were not the only beneficia ries of the boom. All exotics followed, although not to the same level. To give some examples of the foolishness, Ferrari 308s were goi ng for $75,000, Daytona coupes $500,000, 275 GTB4s and Daytona Convertibles for S1.2-1.5 million. Dealer Mark Ketcham (www.ketchamimports.com) remembers the beginning of the end. "After the 1990 Ba rrett Jackson auction in January, and the Monte Carlo and Swiss auctions in late spring, the market stood teeteri ng on roller skates at the top of a ba llbea ring hill." A free-fall ensued when all the dea lers t ried to unload their inventories at once. Prices didn't stabilize until late 1993. For Ferraris, this meant 308s, at $25,000, were now appearing in Southern Cal ifornia high school pa rking lots.365 GTB/4 Daytona coupes plunged 80 percent to S100,000. Even the great 250 GTO got below three million doll ars after reaching alm ost fifteen. By t he mid-'90s, the recovery had begun. Ketcha m describes it thu sly: "There's no question the revival of t he collector car market in 1993-1994 was driven by enthusiasts in three primary areas: vintage racing, the 68 ValueRich Magazine
Concourse Crowd, and those who are what I ca ll social tourers, who drive gently through breathta king cou ntryside, fol lowed by groa ning boards of food an d wine in the evening." The ups hot was that the market broke into three categories. At t he top of the pyramid were sports racing ca rs and coachbu ilt tou ring cars that show the individ ual styling cues of t he industrialists, movie stars and statesmen who origina lly ordered them. These have benefited from a steady price recovery that has lifted the iconic GTO back to more tha n S10 million. For the uninitiated, this sounds like a lot of money, but Ferraris hardly rule the roost in the collector car market. A 1955 Mercedes W196 Grand Prix car recent ly sold for ju st shy of S18 million. The second category is 1970s and 1980s street cars, which inched up from the crash and only recently have shown new life. Fina lly there are the contemporary Ferraris, wh ich are still dropping in va lue, awaiting the bottom of the price troug h before becoming collecti ble. One thing that affects the U.S. pricing of Ferraris that have quit depreciati ng is the ri se of the Euro. Va lued at 82 cents in October 2000, it's now at S1.26.That means buyers in t he Euro zone can purchase a U.S. Ferrari for 54 percent less tha n they could a few years ago, without expending one fra nc, pound or
deutsch mark more of their own currency. Currency rates wax and wane according to political pol icy, but as long as the exchange rate remains the sa me or the dollar weakens further, the Euro effect will lift prices on previously stag na nt cars. As with all used luxury ca rs, Ferrari street cars can be considered a bargain in today's market, especially if buyers can do their own mechanical work. If you want what is referred to as a "significant" Ferrari, however - a period converted Daytona racer, a '50s or '60s sports racer or a 41 0 Super Ame rica once owned by a celebrity, be prepared to pay up - if you can fin d one for sale. Used Ferra ris can offer great value for the money, but a buyer has to be rea listic about the cost of running one. Thirty-thousandmile services by a qual ified shop will run arou nd $4,000, as does a cl utch replacement. Major rebuilds of transaxles are in the S12,000 rang e, with an engine twice that. There are also anoma lies like ea rly 456 Automatics. If you have a problem with the transmission, it is on ly sold as a unit and the dea ler list price is $30,000. Ferraris usually attract sophisticated owners who keep meticulous service records, but because of the potential cost of problems, walk away from the dea l if the records are not with the ca r. You are not buying a Lexus orToyota.The purchase price of a used Ferrari is only the beginning, as ongoing
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AVENUE OF AMERICAS
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328 GTS The 328 is the last of the Ferraris that can be properly worked on by independent shops.
ma intena nce w il l contin ue to generate bills.
th eir provenance. They ca n be helpful in
GTB/4 Daytona and t he 328 series have long
Despite the expense, generat ions of enth usi-
fi nding cars, advising on th eir aut henticity
sin ce bottomed out and are showing the
asts have found t he sati sfaction of t he own-
and even coaxing a desired car out of a col-
slow but steady rise of collectibles, w hile the
ership experience more t han offsets the cost.
lector w ith whom they've worked before.
F355 and 550 Ma ranello are still in t he price-
Unlike more munda ne cars, few Ferraris
For thi s they usually extract 5 percent of the
declining category of used cars. Pricing infor-
pu rchase price from both buyer and se ller.
mation is based on good to excellent ca rs
are driven on an everyday basis. Because of t hat, even extremely low m ileage cars may
Used Ferrari s ca n be fou nd at aut horized
w it h al l document s and service records.
need costly ma intena nce. Michael Sheeha n,
dealers and at t he many independe nts who
Recent sa les rat her t han asked prices were
(www.ferraris-online.com) w ho has brokered
deal in exotics. On t he Internet, eBay has a
used.
as m any Ferrari s as anyone in the U.S., ca lls
se lection and a recent check of Cars.com
attent ion to what he ca lls, "t he $2,000 hose
tu rned up over 200 used Ferraris, almost all
job."Th is is t he result of rubber pa rts- shock
late models.
1968-1974 365 GTB/4 Daytona When the Daytona made its debut at the 1968 Pa ri s show, Ferrari regained supercar
Sports Car Market magazine (www. -
preeminence from t he Lamborghini Muria.
sportscarmarket.com) has used Ferraris listed,
Wit h an interm inable hood, a green house
age. Over time, even low-mileage cars are
but more useful are its auction reports that
that looked as if silk had been attached to
subject to t his. Sheeha n says,"l am a re lent less
allow one to see sa les results arou nd the
t he windshield and tight ly stretched over
advocate of thorough pre-purchase inspec-
world. Autoweek (www.autoweek.com) has a
th e passengers' heads to t he stylishly trun-
tions as part of any used Ferra ri acquisition."
good selection of used Ferraris, almost all
cated rear end, t he Daytona's styling w as
Sheehan also recommends t hat b uyer and
offered by deale rs. The bi b le of th e Ferrari
backed up by performance. Althoug h a bit
seller consider some kind of sp lit of t he
market is historia n Gera ld Roush's Ferrari
t rucklike in traffic, t he Daytona's 35 2 horse-
im med iate expense involved to make su re
Market Letter (www.ferrarimarketlettercom).
power, four-camshaft V-12 makes it fly on
any o lder car is both roadworthy and safe.
Published every ot her week for twenty-eight
t he open roa d. With a mid-t hirteen second
This creates a hea lthy tension between buyer
years, Roush cu lls ads from newspapers, sub-
sta nding quarter-mi le and 173 mph top
and seller w here the sel ler is unwi lli ng to
scribers and dea lers. FM L offers the largest
speed, th is vintage Ferrari will keep up wit h
commit to paying for the buyer's complete
list of classified Ferrari ads in t he world as
all but t he fastest of today's cars.
w ish list, wh ile the buyer gets an effective
well as an extremely helpful p rice gu id e. The
If you crave an open vintage Ferrari at a
reduct ion in price so t he deal can be done
newsletter also has useful art icles concern-
price, something over 100 Dayton as w ere
and immediate repa irs are wit hin his budget.
ing all t hings Ferrari.
"cut" -
absorber seals, suspension bushi ngs, brake and water hoses -
becom ing brittle w ith
As exotics have increased in price, a bro-
Four Popular Models
converted from coupes to convert-
ibles in the aftermarket. Because originality
kerage market has deve loped, just as w ith
As a sa mple of th e Ferrari m arket for
counts more in the Ferrari worl d t han else-
rea l estate. Good b ro kers keep a database of
Va lueRich readers, we chose fo ur models, all
where, t hese cars are priced the same as a
al l Ferraris b ui lt up to a certai n pe riod and
offe ring a lot of ca r fo r th e money. Th e 365
sim ilar cond ition coupe. This is considerably
70 ValueRi ch Magazin e
F355 GTB The 355 took its place at the beginning of a renaissance of Ferrari street cars.
less than 50 percent of the price of an
Daytona coupe or cut Spyde r. Facto ry
sive electron ics as on later models. One
authenti c factory
Spyders go for $300,000-$400,000
drawback is t he interio r panels, w hich tend
Daytona
convertib le.
1985-1989 328 GTB, GTS
Depending on your planned use, they can be
to show premat ure wear." Because of its sim-
a bargain, especially t he top-quality conver-
Wh ile the 308 GTB may be t he cheapest
plicity, the 328 is the last of the Ferraris tha t
sions done by Strama n and European Auto
sporting Ferrari ava ilable, al l our experts
can be properly worked on by independent
Sales in Southern Californ ia. You will not be
agreed t hat t he 328 is wo rth t he extra
shops. Subsequent cars' electronics demand
allowed entry, however, in any high-leve l
$1 0,000-to-$20,000 req uired if t he buye r
compu ter ana lys is usua lly ava ilable only at
Ferrari concourse and may even find resist-
can affo rd it. The 328 rep resented a major
authorized dealers. Some owners complain
ance at some of t he snootier road events.
redo of t he ten-yea r-old 308, t he latt er car
about cowl shake in the GTS, especially
Daytonas were slow to rebound after the
havin g
st rugg led
w it h U.S. em iss io ns
when the Targa top is removed. While the
crash, but have recently been moving up
requ irements during its life, at t imes stran-
ex perts say the 328 is almost bulletproof,
due to the Euro effect.
gling its performance. An increase in dis-
se rvice can still be costly. A majo r (30,000)
Mechanics say Daytonas are stout cars,
placement t o 3.2 liters, redesigned cylinde r
m ile service runs around $4,000. Fo r a
but have reached an age where the rubber
heads and a new Ma rel li Micro plex ignition
younger owner, not yet at fu ll earning power,
comments above app ly, so check for leaks
system put a 260 -horsepower kick into t he
a sinking fund is recom me nded.
carefully. Watch for smoke indicating the
328, knocking a full seco nd off t he qu arte r-
328 Berlinettas ra nge from $35,000 to
need for va lve g ui de work wh ich can run
mi le t ime of its predecessor. Other maj or
$50,000, whi le the open GTS com ma nds $45,000 to $70,000.
$6,000. Worn sync hros can cause second
compone nts including t he inte ri or and
gear pop-out res ulting in costly transaxle
gea rbox were also brought up to date. The
work. Be sure the cl utch is in good order as
imp roved mechanica ls we re comp lement-
The F355 was introduced in Be rli netta
the American habit of sli pping the clutch and the mighty Daytona's huge torque are
ed by revised styling t hat updated t he car's class ic shape w ith mo lded bumpers front
form in 1994 with the Ta rga-style GTS and Spyder follow ing. After years of lumpy
not a recipe fo r long wear. Tom Shaughnessy
and rea r. 328s are wo nderful drivers,
styl ing statements li ke the 308 GT4 and the
1994-1999 F355 GTB, GTS, Spyder
(vint ageferra riparts.com) points out th at,
ext remely we ll -balanced and manageab le
Mondia l series and the inability or unwill-
"Many Daytonas were fitted wit h oversize
at real-world speeds and fast enoug h to
ingness by Ferra ri to get ahead of the emis-
wheels. If the cars were driven hard, these
meet a first-t ime owner's expectations of
sions requ irement curve, the 355 t ook its
wheels cause undue hub wear, so check for
driving a legend.
place at the beg inn ing of a renaissance of
looseness. Also, exhaust systems are hard t o
Tec hnician Da ryl Brown of Sym bo lic
find, and fabricating them from stainless is
cen t er
Montezemolo. Gone were the sidewinde r
expensive and loses some of the engine's
(wwwsymbo/icmotors.com) says the 328 "is extremely easy to work on.The fuel injection is simple. There are no outrageously expen-
engines of the 308/328. The 3.5-liter V-8 was
great tone." Expect to pay $130,000 to $165,000 for a
San
Diego
service
Fe rrari street cars led by new president Luca
Motors
now mounted longitudina lly and pumped out 375 horsepower. Competit ive reality was Va lueRi ch Magazine 71
550 Pininfarina Barchetta Its 485 horsepower V-12 pushes the car to a shade under 200 mph.
more readily accepted at Ferra ri and for the
transmission doesn't seem to have any spe-
chase has been retrofitted . As on all later
first time, the tappets were hydrau lic and self-
cial problems."
Ferraris, if a Tubi or other aftermarket exhaust
adjusting.The performance, fit and finish and
F355 Berlinettas are ava ilable for $65,000-
has been fitted, be sure all the em issions
slippery styling all screa med that Ferrari was
$95,000.The Targa-top GTS goes for S75,000-
gear is sti ll in place. Early cars run high oil
back. In later models, you even had Ferrari's
S100,000
and the completely open Spyder
pressure wh ich ca n resu lt in blown oi l fi lters
first applicat ion of padd le shifters all owing
only gets a slight prem ium from t he GTS.The
accord ing to Sheehan, who says,"Preventing
the driver on his way to work to fanta size
F1 padd le t ran sm ission ca n ca rry the sa me
the problem is as simple as removing a few
that he was Schum i on the race track. The
S10,000
on ly com plaint about performance is that you have to keep the engine on t he boi l. Low-end torque was sacrifi ced for big power
premium that it did when the car
was new.
1996-2002 550 Maranello, Pininfarina Barchetta
spacers in the oil system. "This only involves about an hour in shop time. Sheehan also warns about cars with a tendency to pop out of reverse. "Th is indicates a circlip and perhaps even reverse gear have to be
at high rpm . Another annoyance is the
After years of rear-engined ca rs like t he
incredibly complex top ope ration on the
365 BB and 512 with tight cockpits and com-
replaced.The t ota l job can run $3,500."There
Spyder.lt involves automatically lowering the
promised luggage space, the 550 Ma ran ello
is also a factory fix for a problem involving the seal between the door windows and the
w indows and moving the seats forwa rd with
was a breath of fresh air. Harken ing back to
the ca r in neutral and the emergency brake
the Daytona, it was a front -eng ined V-1 2
rea r quarter glass. Make su re this has been
on. Woe be to those who are weight-cha l-
with prod igious power, plenty of interior
done, because it involves new glass and win-
lenged.They may be squeezed between the
room and loads of luggage space. Its 485
dow motors, an $8,000 bill if paid by the
steeri ng wheel and the adva ncing seats dur-
horsepower V- 12 pushes the car to a shade
owner.
ing the top-lowering process.
under 200 and a stand ing quarter mi le in the
A 550 Maranello coupe can be pu rchased
Some early models had problem s w ith
mid-twelves. Even the styling is a faithfu l
for S115,000-$ 165,000.The rare 550 Barchetta
both cylinder liners and va lve guides, so
modern interpretation of the Daytona, com-
Pininfarina
convertib le
runs
$225,000-
some shy away from 1995 models because
plete w it h a huge front overhang, long hood,
$275,000. On t hese cars, t he padd le shift will
of t his. A sign of these problems is a ca r t hat is down on power. Make sure any purchase
steeply raked windsh ield an d pronounced tu mble home to the Kam m-type rea r end.
cost an extra $5,000-$1 0,000. Good luck in your search. If you are suc-
has had all t he fa ctory fixes. including one
With prices beginning ju st over the low
cessful, you wi ll join many of the most
for fu el lines. Sheehan warns of fau lty $4,000
S1OOs, you can't buy more machismo for the
famous post-World War II race drivers as well
exhaust man ifolds. Symbol ic's Daryl Brown
money.
as a who's w ho of t he business, entertain-
says that, once fixed, the p roblems don't
Da ryl Brown says about half the cars he
ment and political world in enjoying the
recu r. Brown again:"At fi rst t here were con-
has seen blew their coolant hoses. Ferrari
experien ce of t raveling behind the shapely
ce rn s about t he F1 paddle transmission.
provided a sil icone-impregnated hose as a
steerin g wheel wit h the prancing horse in
Now that t he cars are getting older, this
replacement, so be sure a prospective pur-
the center. VR
72 Valu eRi ch Magazin e
never actually
own
a
You take
care
of it
for
Patek
Philippe.
merely the
next
generation.
6821 Preston Road Dallas, Texas 214.522.2400
Annual Calendar by Patek Philippe
74 ValueRich Magazine
/
7
/ n.Motion7 Z
The unveiling of the SLR McLaren sports coupe marks a new era for Mercedes-Benz. It has served notice: The Italians no longer exclusively hold the highest ground for building chariots of passion. Mercedes' futuristic blending of raw power
are combin ing thei r col lective experience
from its latest Formula One Silver Arrow
in the development and production of
race cars and precisely engineered beauty
hig h-performance road cars. This unique
from its SL series road cars brings cutting-
co mbination of expertise man ifests itself
edge motorsports-inspired design to the
not only in dozens of pioneering develop-
road, just as the legendary SLR "Gull Wing"
ments, res ulting in impressive performance
did in 1955.
for t he new SLR, but also in its high levels of
Thi s wi nged avatar's supercharged V8 produces more than 600 hp, rocketi ng it from zero to 60 miles per hou r in just 3.7 second s.
safety and practica lity - something rare in race-inspired grand touring cars.
Cooked from Scratch The SLR Mcl aren is not just a souped-up
Stoppi ng the ca r is eq ually dramati c,
ve rsion of a pre-exist ing Mercedes des ign .
t hanks to ceram ic bra ke discs and an inno-
Every aspect of the ca r wa s des igned from
vat ive air brake mou nted in the t run k lid.
the ground up w ith perfectly matched
The ca r holds the road effortlessly at speeds norm ally contemplated only by seasoned
than with the front-m ounted engi ne, wh ich
race drivers. One thing is for certai n -
t he super-
ca r world has been changed forever now t hat Mercedes-Be nz and its Formul a One pa rtner Mcl aren
components.This cou ld n't be more evident is unu sually situ ated behi nd t he front w heels for opti mu m w eight distribution, han dl ing and hi g h stab ility during braking. The 5.5-litre Mercedes-AMG
The MercedesBenz SLR Mclaren is made entirely out of ultra-rigid yet lightweight carbon fiber material, making it about 30 percent lighter than similar automobiles. Valu eRi ch Magazi ne 75
/
VS powerplant is one of the most powerful engines found in a se ries-produced sports ca r. The specially developed engi ne generates a peak output of 626 hp and delive rs unwavering maximum torque across a broad engine speed range, up to 5000 rpm. With this kind of efficiency, the SLR Mclaren delivers perform ance figures which are among the best in its class.Top speed pea ks at about 217 mil es per hour. AMG's attention to detail is legendary. Each engine is hand-assembled by a si ng le eng ineer whose name is engraved on the engine block. Feed ing
th ose
impress ive
horses,
Mercedez-Benz and AMG engi neers created an intelligent electronic engine man-
agement system w hich regulates the operation of the screw-type air compressor accord ing to the eng ine speed and loa d.
The SLR's AMG powerplant sucks massive amounts of compressed and cooled air through the Mercedes star emblem on the front grill for maximum horsepower.
The compressor is active only when it is
second. Even t he most perceptive driver
In addition to the compressor, the elec-
needed, ensu ring that maximum output is avai lab le as soon as the driver accelerates hard. The eng ine ma nagement electronics
wi ll not notice when the charger phases in. Converse ly, fuel consumpt ion is improved
tronics monitor the powertrain for drive characteristics and the implementation of
by the cha rger system's open reci rculation flap w hile cruising .
spontaneou s transmission activity. It also ensures optimum control of the water cir-
activate the compressor in fractions of a 76 Valu eRi ch Magazi ne
wing doors and the hood. This lightweight yet extremely rigid material originated in the aeronautical and space industries and has proven its benefits in today's Formula One racecars, w ith a 50 percent weight advantage over steel. Overa ll, the SLR Mclaren is around 30 percent lighterthan a comparable conventional stee l-bu ilt midengined vehicle. The SLR is the world 's first series-produced car to have a front crash structure made entirely from carbon fiber. Carbon fiber has four to five times higher energy absorption on impact than steel or aluminum. Mercedes-Benz has inserted two longitudinal carbon fiber members in the front st ructure of t he new SLR wh ich are designed to shred from front to rear with The carbon fiber front structure of the SLR is designed to shred and deform to absorb the energy in a high-speed front collision.
precisely calculated deformation behavior, absorb ing the energy of a high -speed
cuit for the charge-air cooling system. Two
sign ificantly more oxygen for combustion . More F-111 than Formula One
head-on collision without causing harmful deceleration for the occupants.
The SLR is made entirely from carbon
The passenger cell is also made entirely of this high-tech material. In a head-on,
separate charge-air coolers are responsib le for high ouput cooling. This ensures that there w ill be little loss of pressure because cold air is denser than warm, containing
fiber composite, including the front and rear structure, the passenger cell, the swing-
side-on or rear-end collision, it offers the Valu eRich Maga zine 77
The SLR Mclaren has a Formula One-inspired flat chassis and six-channel rear diffusor, adding to its incredible handling characteristics. passengers an extremely rigid, safe survival zone.
car dynam ics, helping it to achieve top figures in three key areas: ag ility, active safety
Mercedes-Benz has also used carbon
and comfort. But it is the SlR suspension that provides the handling a discerning car
fiber-reinforced ceramic to increase performance, temperature-res istance and longevity in the SlR's high performance
driver would expect to find in a super car
brakes. The SlR's large ceramic brake discs
The SlR Mclaren has front and rear rac-
allow the highest deceleration va lue of any
ing eng ineered w ishbone suspensions.The
series-produced car.
lower struts are arranged so that when cor-
embellished w ith the Mercedes star.
The braking performance of the SlR is
nering at speed, the wheels have a negative
also aided by an adaptable spoiler in the
camber ensuring the best poss ible co ntact
trunk lid. If the driver steps heavily on the brake pedal, the rear spoi ler ri ses to an angle of 65 deg rees, boosting the braking effect by producing greater aerodynam ic drag and stability.
with the road in every situation. The axle design also prevents the front of the car from diving when braking heavily and the
In most situations the electronics control the airbrake, as req uired. However, the driver can have a little fun by taking contro l
An electronically controlled trunk lid spoiler boosts the SLR's braking power and stability. an ang le of 30 degrees.
King of the Road or Track Highly developed motor racing technol-
of the airbrake using a switch in the center
ogy, high-performance control system s and cutting -edge materials propel the SlR
console to manua lly raise the rear spoi ler to
Mcl aren into a new dimension of sports
78 Valu eRi ch Magazine
rear from diving w hen accelerating. The wishbones are made from forged aluminum and the wheel mounts cast in aluminum, providing a who le series of advantages over conventiona l steel designs. The lightwe ight nature of the material allows the suspension to react significantly
The SLR Mclaren's cockpit is spartan but not severe, providing comfortable ergonomics without adding unnecessary weight. faster and respond more sensitively.
integrated with recent Mercedes design
The SlR's relatively long wheelbase pro-
tra its. The fascinating interplay of soft con-
vides superior hand li ng and directional sta-
tou rs and taut li nes, a cha racteristic w hich
bility, wh il e its w ide track and low center of
runs th rough ma ny of the models in the
gravity allows for extremely high cornering
current Mercedes portfo lio, take on new passion and meaning in t he SlR.
speeds.
The Gull Wing is Back
The bodystyli ng of the Sl R also shares
Mercedes-Benz and its Formula One ally,
DNA with Mclaren Mercedes Silver Arrow
Mclaren, have reached just the right syn-
Formu la One raceca rs. The Mercedes sta r-
thesis between t he no-nonsense race world and the accommodations necessary in a
embellished arrow-shaped nose and twinfi n spoi ler give the bumper a bolder, more
road car. The SlR Mclaren offers stunning
powerfu l look, stemm ing from the champi-
power and sensational on-road perform-
ons hip-winning racers. But these are more
ance, but also excellent suitability for safe day-to-day use. If the SlR Mclaren is any
Transmission controls are conveniently located on the steering wheel.
than just identifying design features -
indication, we can look forward to many
design features fi rst caused a sensation
ics and engine cooling.
good t hings from this team in the future. The long, sweeping lines, the rakishly
back in 1952 and have remai ned the hallmark of t horoughbred Mercedes sports
styled air gi lls, the eye-catching sidepipes, the compact tail and the gull wing doors
cars ever since. These and other styling elements rooted in t he SlR trad it ion have bee n smoothl y
evoke the legendary SlRs of the past. These
they are crucial to the vehicle's aerodynamSeen from the side, the new high-perfo rmance supercar's flat wedge-s haped form immediately catches the eye. The long hood, the rakishly angled front windshie ld, the set-back positioning of the pasValu eRi ch Magaz ine 79
The SLR Mclaren's doors swing upward and outward at a 107-degree angle for ease of access and greater safety. luggage capacity, this also serves to reduce
senger cocl<.pit, tile large wheels and the com pact tai l create the sense of a forward
lift and aerodynam ic drag, translating into
surge cou rsing through the new Sl R.
enhanced road-handl ing ability.
The designe rs have in co rporated a fur-
The leather- and ve lour-trimmed trunk is
t her SlR element from the legendary rac-
expansive enough to pack a couple of large
ing cars of 1955 in the form of the finned
suit cases or golf bags. But even the useful
side air gi ll s behind t he front w heels. They
trunk has its performance aspects, i.e.: Flaps
are not just for looks, however. The side ai r
below it provide easy access to compart-
outlets serve to venti late the engine com-
ments for t he washer and brake fluid reser-
pa rtm ent. Practical fur.ction gives way to
voirs, the two batte ries and tools. The
beauty, however, as their sweeping lines
designers opted for t his unusual arrange-
contin ue into the gullwing d oors.
ment in order to achieve better weight dis-
If there is one distinctive feature that the
t ri b uti on with a low ce nte r of gravity close
new SlR Mclaren has adopted from the Uhlenhaut Coupe, the 1955 coupe version
The shift knob start button ... ready to dogfight.
of the legendary SlR racecar, it is the doors.
driver and front passenger.
to t he center of t he vehicle. You would expect to pay a high price for one of the world's most sophisticated super-
However, t he Sl R Mcl are n's doors are
The design of the Mercedes-Benz Sl R
car, and Mercedez-Benz doesn't disapoint
atta ch ed to the front roof pil lars ra t her than
Mclaren's ta il end marks a breakaway from
with a $400,000 price tag. And yet, with only
to the roof itself and swing forward and
that of its legendary predecessor. Wh ile t he
140 currently scheduled for delivery to the
upwa rd at a 107-degree ang le. This design
ta il of the original racing cars sloped gradu-
United States, you can expect them to be in
ensures g re ate r safety, great sty le and,
ally downwards, the boot lid of the new
short supply. No matter. Just standing on the
because of the large openi ng angle, allows
model continues st raight backwards at th e
roadside and watching one drive by will be
comfortable access to the interior for the
same high level. As well as increasing t he
thrill enough for most of us. VR
80 ValueRich Magazine
INVESTMENT BANKING/BUSINESS OBJECTIVE: Duraswitch is seeking additional partners in licensing existing and new technologies, so as to benefit from distribution through an established network. The Company has brought its cost structure down significantly by reducing personnel and utilizing the engineering, sales and marketing as well as production capabilities of licensees and technology partners. With over $5 million in cash and $12 million in minimum royalties for automotive applications from Delphi, Duraswitch feels well-positioned financially and is not seeking additional financing.
COMPANY DESCRIPTION: Duraswitch licenses enabling technologies to established manufacturers and OEMs worldwide. Its focus is the multi-billion dollar electronic-switch market: push buttons, rotary dials and mouse or cursor controls. Duraswitch holds patents on technologies which can be used for a wide range of commercial and industrial applications. These patents include the PushGate push button, thiNcoder rotary and Magna Mouse cursor control. Duraswitch has built a network of licensee partners throughout North America, Europe and Asia . These licensees have expertise in serving key switch markets, including automotive, appliance, military, aerospace, industrial controls, elevators, medical, computer, gas pumps, gaming and fitness equipment. Today, more than 100 applications in a wide range of industries use Duraswitch technologies.
RECENT DEVELOPMENTS: ·Portfolio of patented technologies. • 2003 licensees Siemens, Danielson and Rafi (Europe), Printec (Taiwan/ China) and Ishii Hyoki (Japan) increased our exposure. ·The number of Duraswitch licensee designs in use by mid-2003 had already surpassed all of 2002. • $5 million in cash, no debt. • Delphi exclusive license guarantees $12 million in minimum royalties (2004-2007), ensuring profitability with our current cost structure • Exponential growth by implementing licensing model for existing technologies and commercializing new technologies acqui red from technology transfer or new partnerships.
STRATEGIC BUSINESS PLAN: Duraswitch's licensing business model leverages the resources of multi-million-and-billion-dollar partners.
J)URASWITCH' The world is switching.® Duraswitch delivers commercially viable technologies which generate scalable, high-gross margin revenues. By creat ing technology alliances with companies that provide complementary components for switch panels, Duraswitch expands awareness for its technologies. Each licensee and technology partner has relationships with numerous customers that have many product applications which utilize electronic switches in a variety of projects. As applications for Duraswitch switches increase, more licensing revenue is generated for the company. Du raswitch's licensing model creates higher gross margins without significantly increasing operating expenses. Further development of new technology will enhance the profitability of this network of licensees and strategic partners.
MANAGEMENT: Bob Brilon, President and CEO, has been a key player with the company since its inception, determining and executing business strategy. He has 21 years financial and operations leadership experience, including four years public accounting and chief financial/ operations positions with public and private companies. Anthony Van Zeeland, Chief Technology Officer, is the Inventor of the full-travel membrane keyboard -the keyboard which is used with computers today- and other Duraswitch technology. He has more than 30-years industry experience. Heather Beshears, V.P. Corporate Communications, has 12 years in investor relations, public relations and marketing positions. Timothy Kuhn, V.P. Business Development, has15 years of award-winning sales management experience Deborah Moore, V.P. Finance and Administration, has 15 years accounting experience, including corporate controller and vice president positions at public companies
CONTACT INFORMATION: Heather Beshears, VP Corporate Communications 234 South Extension, Mesa, AZ 8521 0 Phone: 480-586-3300, Fax: 480-586-3374 E-mail: heather@duraswitch.com www.duraswitch.com
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INVESTMENT BANKING/BUSINESS OBJECTIVE: The Company seeks to fully commercialize the Female Condom on a global basis to aid in the fight against HIV/ AIDS and explore new opportunities to market and distribute its product.
COMPANY DESCRIPTION: The Female Health Company (FHC) is the maker of FC Female Condom® - the first and only female-initiated barrier method of contraception and protection against HIV/ AIDS and other sexually transmitted diseases. Female condoms play an important role in the global battle against AIDS. FHC was created as a worldwide company in February 1996 with the purchase of Chartex Resources Ltd., the holder of exclusive worldwide rights to FC. FHC is the sole manufacturer and marketer of FDAapproved female condoms in the world. FHC holds exclusive product and technology patents in the United States, Australia, Brazil, Canada, the European Patent Convention, France, Germany, Italy, Spain, the UK, People's Republic of China, South Korea and Japan. The company now has the registered trademark, FC Female Condom, in the United States, and its products are distributed under the auspices of the United Nations and the World Health Organization. FC is available in more than 100 countries and throughout the United States and is sold commercially in 17 countries.
attributable to common stockholders of $(2,833,919) ($0.18 per diluted share) for three months ending June 30,2002.
MANAGEMENT: O.B. Parrish, CEO and Chairman, has served as Chief Executive Officer of the Company since 1994, as Chief Financial and Accounting Officer from February 1996 to March 1999 and as Chairman of the Board and a Director of the Company since 1987. He was previously President of Searle International. Mary Ann Leeper, Ph.D, President and COO, has served as President and Chief Operating Officer of the Company since 1996, as President and Chief Executive Officer of The Female Health Company Division from May 1994 until January 1996, as Senior Vice PresidentDevelopment of the Company from 1989 until January 1996 and as a Director of the Company since 1987. Michael Pope, Vice President of U.K. Operations Mitchell Warren, Vice President of International Affairs Jack Weissman, Vice President of Sales
CONTACT INFORMATION: The Female Health Company O.B. Parrish, Chairman and CEO 515 North State Street, Suite 2225, Chicago, IL 6061 0 (312) 595-9123 Fax: (312) 595-9122 info@femalehealth.com www.femalehealth .com
RECENT DEVELOPMENTS: • In September 2003, the Company announced that it had signed an agreement with Hindustan Latex Limited (HLL), appointing HLL as FHC's exclusive marketer and distributor in India, a nation with over 1 billion people and a rapidly growing AIDS problem. • On September 30 2003, the Company entered into an agreement with the U.S. Agency for International Development (USAID), which would allow the Company to supply up to 25 million units of the FC Female Condom to USAID through December 31, 2006. • On August 14, 2003, the Company reported net revenues of $3,010,911 and net loss attributable to common stockholders of $(251 ,438) ($0.01 per diluted share) for the three months ending June 30, 2003, compared to net revenues of $1,991,287 and a net loss
Real-tim e
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ValueRich Magazine 83
INVESTMENT BANKING/BUSINESS OBJECTIVE: The Company is seeking the development of tactical alliances in geographically strategic manufacturing /distribution locations throughout China. Overseas, Pacific CMA will utilize independent sales and market· ing agents in key global locations. COMPANY DESCRIPTION: Pacific CMA Inc. is global, non-asset based logistics/freight forwarding company, providing supply chain logistics services. Services include freight forwarding and warehousing, including the coordination of shipping and storage of raw materials, supplies, components and finished goods. The Company has a diverse customer base including more than 40 major customers and 1,000 with regular business dealings. The Company moves freight anywhere in the world by air, sea and land, and currently has more than 128 cargo agents stationed in 68 countries and 161 cities serving major gateways worldwide. RECENT DEVELOPMENTS: • Pacific CMA's common stock was approved for listing on the Amex in December of 2003.1t began listing under the name "PAM" on Dec. 5, 2003. • For the nine months ended september 30, 2003, revenues rose 63% to 50.5 million. • Officially accepted as a member of the CustomsTrade Partnership AgainstTerrorism (C-TPAT) program, a joint initiative between the U.S. government and business.
through the development of tactical alliances in geographically strategic manufacturing / distribution locations throughout China. Overseas, Pacific CMA will utilize independent sales and marketing agents in key global locations. MANAGEMENT: Mr. Alfred Lam, Chai rman and founder of AGI Logistics (HK) Ltd., is responsible for corporate strategy, strategic planning, and the overall management and administration of Pacific CMA, Inc. Mr. Scott Turner, President, is co-founder of Airgate International Corporation in New York. He has over 26 years of experience in the freight forwarding industry. Mr. Kaze Chan, Cheif Operating Officer, is General Manager and Co-founder of AGI Logistics (Hong Kong) Ltd. He oversees freight activites in Hong Kong, China, Europe and North America. Mr. Henrik M. Christensen, Executive Vice President, has over 25 years of shipping and logistics experience in Denmark, England, Africa and Hong Kong. CONTACT INFORMATION: Henrik Christensen, Executive VP 4750 Table Mesa Drive, Boulder, CO 80305 (303) 494-3000 henrik.christensen@pacificcma.com www.pacificcma.com
STRATEGIC BUSINESS PLAN: Pacific CMA intends to fully leverage its strategic locations, existing relationships, corporate accreditation/ memberships and Industry accolades to take full advantage of the exponential business opportunities created by Main Land China's December 11 , 2001 admittance into the World Trade Organization. Pacific CMA believes that it possesses the experience and proprietary knowledge to expand its business globally while maintaining its focus on the "Factory of the World: Mainland China." Pacific CMA's growth strategy will be fueled through organic growth as well as
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84 V I
R1
1
INVESTMENT BANKING/BUSINESS OBJECTIVE: Rentech's main objective is to secure a commercial project to implement its gas-to-liquids technology and find a strategic partner to aid in funding, either by joint venture or purchasing a portion of the Company.
currently has underway and proceed to engineering and construction. The Company continues to strengthen technology by increasing its patents and joining in strategic partnerships, such as with Jacobs Consultancy U.K., a division of Jacobs Engineering (NYSE:JEC), to support its efforts.
COMPANY DESCRIPTION:
MANAGEMENT:
Rentech, Inc. is the developer and marketer of a patented and proprieta ry gas-to-liquids technology for the conversion of synthesis gas. Solid and liquid hydrocarbon feedstocks (natural gas, coal, petcoke) are made into clean, sulfur-free, diesel fuel, naphtha, waxes and fuel for fuel cells.
Rentech's management team consists of some of the most respected gas-to-liquids experts in the world, including Dr. Charles Benham and Dr. Mark Bohn, founders, and Dennis L. Yakobson, President and CEO. Their combined experience in GTL is equal to over one hundred years of technology know-how in the Gas-to- Liquids field.
RECENT DEVELOPMENTS: The Company is conducting commercial feasibility studies for its GTL process in Bolivia, with pertamina in Indonesia, and for potential use of its technology with coal in Australia and the United States.
STRATEGIC BUSINESS PLAN: Rentech, Inc. plans to complete the feasibility studies it
CONTACT INFORMATION: Rentech, Inc. Mark Koenig, Director of Investor Relations 1331 17th St. Suite 720, Denver, CO 80202 (303) 298-8008 Fax: (303) 298-801 0 mkir@rentk.com www.rentechinc.com
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INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
Semotus Solutions is looking for an investment banking relationship to support the Company in achieving its financial vision . This may include M&A, capital acquisition, and shareholder visibility.
Semotus has two exciting product lines: its Wireless Financial data product family and its Wireless Communications product family. Both have Fortune 1000 customer bases and very high gross margins. The wireless communications family is built around our HiplinkXS platform. Literally every medium-to-large corporate IT department is a potential customer for the HiplinkXS product. It is a target-rich sales environment. The only difficulty in growing Semotus HiplinkXS revenues is the need to hire more sales personnel and a modest investment in marketing. The same is true of the Financial Market Pro product family, except we have the added leverage of a commitment by the Reuter's sales organization to sell for us. Semotus must now hire a sales group to drive the Reuters channel.
COMPANY DESCRIPTION: Founded in 1993, Semotus Solutions (AMEX:DLK) is a premier provider of software for mobile enterprise, connecting employees to critical business systems, information and processes. Semotus has differentiated itself by adding continually to its sophisticated suite of mobile communications products, retaining the best talent in the wireless industry, and by aggressively securing a blue-chip customer portfolio, that includes Lockheed Martin, Blue Cross Blue Shield, Chicago's O'Hare Airport, Nextel Communications, Wells Fargo, JPMorganChase, and the United Nations. Semotus currently has 23 employees and two office locations. The Company's headquarters are in the United States. Research and development are conducted in Canada. Semotus Solutions is proud to be included in the Deloitte & Touche 2002 "Technology Fast 500" list of companies.
RECENT DEVELOPMENTS: In the most recent fiscal quarter, Semotus has experienced increased revenues and profit margin and has expanded its International reseller sales channel. Important technology alliances have been forged with AT&T Wireless and Research In Motion, and content relationships developed with Reuters News and Dow Jones. The Company is gaining solid recognition in diverse verticals with most recent software deployments in Melbourne Airport (Australia's second largest airport), Lucent Technologies, The United Nations, and Philips Medical.
MANAGEMENT: The Management team is lead by Anthony N. LaPine, MSEE MBA, a Silicon Valley icon and renowned executive and entrepreneur. As the CEO of Semotus since 1996, he has assembled a strong, talented, and dedicated team who have worked together during the best of times and the worst of times for over four years. Cornel Fota, GO, and Pamela LaPine, EVP Marketing & Sales, have been on the team since 1996, CLO Tali Durant, and CFO Charley Dargan since 1998.
CONTACT INFORMATION: Semotus Solutions Tony LaPine, CEO 16400 Lark Avenue, Suite 230, Los Gatos, CA 95032 408.358.7100 Fax: 408.358.7110 www.semotus.com
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86 Val ue Ri ch Magazin e
INVESTMENT BANKING/BUSINESS OBJECTNE:
RECENT DEVELOPMENTS:
Telkonet, Inc. is seeking strategic partnerships with value-added resellers, system integrators and distributors, leveraging the partners' brand name, delivery infrast ructure and customer relationships. Choice Hotels International, one of the largest hotel franchise companies in the world, is the Company's first industry partner. Telkonet's strategy is to gain a foothold in each of the 50 states and to boost market penetration region by region.
October 9, 2003 - Telkonet, Inc. received its first purchase order from Noment Networks, a communication services provider to the residential Multiple Dwelling Unit (MDU) market. October 3, 2003 - announced that certain convertible and senior note holders had elected to convert $6.3 million into equity.This included the exercise of $3.8 million of warrants, resulting in a cash position of $8.4 million and shareholder's equity in excess of $5.1 million. September 24, 2003 - Telkonet announced a field trial in a high-rise apartment complex in Miami, Florida with Rover Communications. September 2, 2003 - United States Patent and Trademark Office notified Telkonet that the claims made in its Patent Application were allowed in their entirety. July 22, 2003 - Telkonet signed an agreement with CompuCom (NASDAQNM: CMPC) to provide installation and customer-support for its PlugPiuslnternet products.
COMPANY DESCRIPTION: The Company is the leading developer of high-speed Internet distribution over the existing electrical lines within commercial buildings. Telkonet's proprietary product solution can be implemented quickly and less expensively than most dedicated wiring or wireless systems.
STRATEGIC BUSINESS PLAN: The opportunity for providing high-speed Internet access in commercial buildings is significant. Vertical markets include hotels and motels (hospitality), multipledwelling units (MDUs) and government facility installations (GFis) worldwide. Management recognizes the potential in all three vertical markets but plans to focus initially on the hospitality market.
KEY FACTORS: • Telkonet has completed development of its PlusPiuglnternet system and has a series of patents issued and pending on the principal components of its product. • n-Stat reports that spending on networking equipment for the hospitality industry will reach $2.53 billion worldwide over the next four years - $793 million in North America alone. • There are an estimated 30 million rental apartments in the U.S., and if 40 percent of them are eventually serviced by high-speed Internet service, the market opportun ity would be 12 million units. • GFis are often particularly sensitive to security issues. Telkonet powerline solutions offer a more secure connection than wireless solutions. Also, many government have asbestos problems that would inhibit their ability to install hard-wired solutions. • The Telkonet solution is excellent for developing countries where public telephone networks have steep perminute charges. Internet users can bypass those charges by combining Telkonet solutions with a two-way satellite link, dedicated land line or fixed wireless access.
MANAGEMENT: Warren V. Musser: Chairman of the Board/ Co-CEO, is the Managing Director of The Musser Group and Chairman Emeritus of Safeguard Scientifics, Inc. Ronald W. Pickett: Co-CEO/ President, Director and co-founder, has been affiliated with the Company since its founding in 1999. David Powell: COO, previously served as Senior Vice Pres ident of the Network Enhancing Technologies Solutions division ofTellabs and was President and COO of Coherent Communications Systems Corporation. During his 4 years as President and COO of Coherent, he was instrumental in growing annual worldwide revenue from $30m to $1OOm Stephen L. Sadie: Senior VP, Director & co-founder, was a co-founder of the Company in 1999. From 1999 to 2000, Mr. Sadie was Vice President and General Sales Manager of lnternos, a provider of web-based vertical intranet applications. E. Barry Smith: Chief Financial Officer, is a CPA and senior financial executive with diversified experience in both public and private companies.
CONTACT INFORMATION: Jody M. Janson Investors Stock Daily, Inc. 585-454-6955 www.istockdaily.com jody@istockdaily.com
Ken Sgro CEOCast.com 212-732-4300 www.ceocast.com kensgro@ceocast.com
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Valu eRi ch Magazin e 87
88 ValueRich Magazine
/
7
/ n.Motion 7 Z
Every sportfishing yacht today owes its heritage to early Rybovich designs. The Rybovich name defines sport fishing and is synonymous with workmanship, quality and innovation. It is one of the world's most respected builders of sportfishing yachts. In the 1930's and '40s, affluent fishermen
"heavy" wood used in traditional designs. It
from around the world began arriving in
was later discovered that Tommy's wood-
the Bahamas and Bimini to fi sh for bluefin
en hulls weighed only 3.75 pounds per
tuna and blue marlin.The boats of the day,
square foot - much lighter than fiberglas s
whi le adequate, we re hard ly ideal for the task at hand. Most were converted cabin
hulls, and still among the lightest around. Tommy Rybovich al so developed the
cru isers, and almost al l were slow and hard
early hull design that was so famou s for
to maneuver.
stabi lity, maneuverability and handling in
John Rybovich, a carpenter and cab inet
rough seas. As more and more fishermen
maker, was runn in g a part-time commer-
heard of the Rybovich boats, demand grew
cia l fishing operation and buildin g some
and so did the innovations, and not just the
skiffs for the loca l king mackerel fishermen
hull design. The compan y is genera lly cred-
in Palm Beach, Florida, at the time. In 1947, th e Rybovich fami ly was approached by automobi le dealer Charlie Joh nson to bu ilt a boat designed strictly
ited with developing the tuna tow er, the transom door, the modern fig hting chai r and alum inum outriggers w ith spreaders. It can be said that the Rybovich famil y
for spo rtfishing. Out of that ass ignment
practically invented modern sportfishing.
came the first in a long line of Rybovich
The Rybovich famil y ran the busi ness until 1975, w hen they sold the company.
sportfish ing boats, the Miss Chevy. John had three sons - Tommy, John Jr. and Emil - and wh ile all of them played important ro les in the growing business, it was Tommy who became the master of
The new owners prod uced an early line of production boats, the Rybo Runner, w hile sti ll maki ng custom yachts. Rybovich changed hands once aga in in
design and in novation. He developed unique combinations of woods for the
1986; and is currently captained by president, Jim Bronstien. Today the company,
hu ll s and scantl in g to provide great
now known as Rybov ich-Spencer, has
:n
strength with low weight, w hich the com-
~
pany uses to th is day. When the fiberglass
expanded to include not on ly custom boat bui ldi ng but a yacht brokerage firm, mari-
e
~
& ~
~
revo lution occu rred, ma ny th ought t hat the new materi al wou ld complete ly rep lace the
na, marine store and a Rybovich clothing and accessories line. Rybovich had been using the same botVa lu eRi ch Magazine 89
/
sit to fishing grounds, maneuvering, con-
eng in es were becoming increasin gly pop-
Every sportfishing boat today owes its heritage to ea rl y Rybovich designs. Th ey
ular in the marketplace. The old er hull
are cred ited with bu ildi ng the first boat
equally important for successful fishing
design was n't optima l for the bigger
with a raised foredeck and accommoda-
machines. Rybovich sportfishing boats are
powe r plants. So Bronstien brought in Don
tions be low, the first boat w ith the broken
co nstructed w ith the proper propulsion-
Blount, a naval architect who had been in
shear and the large cockpit.
mach inery selection to produce optimum
tom design since 1965. Large diesel
charge of all the U.S. Navy's high-speed
Today's Rybovich boats share the same
trol and boat motions w hen trolling are
speed and econom ic balance for each
smal l crafts.
distinctive lin es as the ir class ic predeces-
Blount redesigned the hull below the waterline to accommodate the new high-
sors, and are still hand-crafted from either
Recent evolution in design has been
triple, diagonal ly planked mahogany cov-
horsepower diesel eng ines everyone wanted for increased range and speed. Under Blount 's direction, Rybovich's hull
ered with two layers of 20-ounce epoxy resin or hand-laid high-tech compos ite materials. Th is distinctively Rybovich com-
significant. Runn ing lines are continuously tweaked so that developmental changes beneath the waterline steadi ly evolve to provide better high-speed handling in
design evolved into more of a mod ified-V, w ith softer entry characteristics.
bination provides great strength and stiffness in a light hul l.
hull.
rough seas. All Rybovich boats feature teak cockp its and exquisite interiors. Their marine car-
Although the hu ll design was state-of-
Fully integrated, cutting-edge des igns
the-art, ve ry little cha nged above the
result in superior seakeeping without sac-
penters are expert craftsmen with exotic
waterl ine. The classic Rybovich look was retained.
rificing efficient performance. Whi le speed
woods, inlays and finishes. Custom Rybovich boats range in size
90 ValueRich Magazine
and ride quality are important during tra n-
The interior of 72' Cutting Edge (tar left) is just that, showcasing the matched grains, inlays and finish that Rybovich's marine woodwork craftsmen are famous for. The galley countertop in the 65' Pescador (left) exhibits 50-million-year-old fossils of prehistoric fish.
from 55' to 78' and are designed and built
until they take delivery."
boats ooze the charm of the ir early sport-
to meet each owner's specific require-
When owners do get involved the
ments. Each custom-built boat takes from
results can be quite distinctive. The latest
endary for attracting more fis h -
18 to 22 months to complete
Rybovich, 65 ' Pescodor, has 50-m il lion-year-
edly as a resu lt of their hull sound.
fi sh ing heritage. Rybovich boats are legsuppos-
That can include a whole range of expe-
old fossil ized fish visible in the gal ley coun-
The historic Rybovich-Spencer boat-
riences, according to CEO Bronstien. "Customers usually come in with a specific
tertop. Owners of these unique sportfishing
boat size in mind, and not so focused on the features. But realistically, the boat size is
yachts are members of an excl usive fraternity. New custom Ryboviches are frequently built for previous owners who wou ldn't
ya rd often refurbishes their older hulls, restoring them to their fu ll glory, updating amenities and tech nology. Restored classic Ryboviches can be purchased from Rybovich -Spencer Yacht
determined more by the features. Once we've established their requirements, the
own anything else. Typically, Rybovich boats are kept in excellent condition by their owners, and
Brokers for a fraction of the cost of a new one, providing an entry point for new
"Some ow ners are very engaged with
don't cost any more to ma inta in than other
t hen, there is now another entry point for
the process from start to finish, giving us lots of detailed input. Others take a look at
boats. A classic Rybovich is just as coveted
first-time Rybovich owners: the 42' Express Wa lkaround -
our typical configuration for a particula r
as a recently built hu ll in the marketplace. Th ese unique craft have been built w ith a
sized boat, say they would like this or that,
perfect ba lance of eng ine-to-hul l ratio, fish-
and that's about all you hear from them
ing functiona lity and comfort. The older
developed by singer Jimmy Buffett. Read on ...
length usually ends up within a few feet of w hat they w anted to begin w ith.
members of the sportfishing elite. But
boat -
Rybovich's new production
a Caribbean island hopper partly
ValueRich Magazine 91
<ll
c
Q
"' Oi
E
~
80
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CJ._
Jimmy Buffett's Margaritavich came complete with fly rod holders, Margaritaville tequila frozen concoction and a custom Koa wood Martin guitar.
THE RYBOVICH COMPOSITE 42' EXPRESS WALKAROUND Singer, songwriter, yachts-
luck wou ld have it, Rybovich
man, pilot and entrepreneur, Jimmy Buffett is an avid saltwater fly fisherman.
was in the process of thinking through its own designs for something new .. . an al l composite production boat
He had in mind a boat ... large
Out of such sma ll business
enough to have a comfortable cab in, yet designed so that he
serendipity great products are born. And so the Rybovich 42' Express Walkaround series was
could easily dock and anchor it when he was alone. One that cou ld
created. Behind it all is a love of fishing best conveyed by a
be taken into shallow areas
Buffett expression, "Gatta stop wish in: Gatta start fishin'l"
designed so he could maneuver a fighting fish on light tackle around
Rybovich bui lt its reputation on creating handcrafted, smooth-ridin g, yachts to the
the w hole circumference of the boat A long-time admirer of Rybovich boatbuilders, Jimmy approached t hem with the ideas for his boat As
Jim Bronstien and Jimmy Buffett introduced the 42' Express Walkaround at the 2002 Annual Ft. lauderdale Boat Show.
strictest specifications. The
same
Don
Blount
ValueRich Maga zin e 93
design team, which modernized the classic Rybovich hull for larger power plants and higher speeds, has designed a cored composite boat that is pure Rybovich w ith the proper ba lance of weight, strength and stiffness provided by the cold-molded models. The results are reduced weight, the fam ilia r seakeeping abilities and the feel -
even the
of its legendary predecessors.
sound -
Lightness, speed and maneuverabi lity all combine to make this the ult imate islandhopping weekender. It draws only th ree feet of water, making it perfect fo r fish ing in shallows, snorkeli ng and anchoring in close to explore the shore. The
new
composite
42'
Express
Walkaround series is right at home with its custom-built pedigree. With fewer than 10 produced per year, it wi ll only be available to a few discriminating owners. It may be a production boat, but the design and quality are pure Rybovich. Of course, Jimmy Buffet gets hull# 1. Why a wa lkaround? The walkaround design offers severa l distinct advantages. First and foremost is safety- especially the ease with which lines can be handled by the owner-operator. The walkaround also provides add itiona l deck space and enhanced fishab il ity. At the same time, a special design effort was mounted to preserve the generous interior space that Rybovich is known for.
Constructing a New Legend United States Marine, a successful and well respected builder of high-performance
The Margaritavich's cabin and galley might easily be mistaken for a cozy Key West cottage. With the standa rd Twin Cumm ins QSM11
The sleek interior is distinguished by the
660 power plants, it w ill reach top speeds in
fine millwork and impeccable finish that is
excess of 36 knots.
an integral part of the Rybovich legacy.
racing boats and, super-reliable patrol craft
A unique and distinctive hard ch ine
Exotic woods and complementary island
for the U.S. military, lends its expertise in
stepped out from t he side of the hull
fabrics evoke t he Margaritavi lle mood in a
crafting the advanced composite structures
reduces spray to provide a dryer ride. At the
comfortable cabin. Th is island hopper may
for the 42' Express Walkaround to Rybovich's
same time, a chine log, borrowed from clas-
be laid-back, but it is no slouch on the
specifications. The fitting of all systems and
sic Rybovich design, sheds water that nor-
amenities. VR
t he masterful finish work- plus the many
ma lly st icks to the hull, reducing weight and
other features that make a Rybovich a
drag while optimizing performance.
The Rybovich 42 ' Express Walkaround: LOA : 42' 4" Engines: Twin Cummins QSM 11 660 BHP Beam: 15' 4 " Fuel Capacity: 520 gall ons Draft: 3' Water Capacity: 110 gallons Displacement: 32,400 lbs. Construction: Fiber reinforced composite Base price: $89 5, 000
Rybovich -
all take place at the historic
Rybovich yard in West Palm Beach, Florida.
Comfort, Style and Island Flair This latest Rybovich is about lifestyle.
The 42' Express Wa lkaround can be
Rybovich has brought the impress ive
optional ly configured as a sportfishing, hard-
credentials of Dalton Designs and Liz
top or open model. This newest legend will
Dalton, who has designed many award-win-
lead the pack with base cruising speeds of
ning Rybovich interiors, to the Rybovich 42'
32 knots and a range of more than 300 miles.
Express Wa lka rou nd series.
94 ValueRi ch Magazin e
LUXURY CONDOMINIUMS WITH BREATHTAKING VIEWS IN A GATED COMMUNITY OFFERING EVERY RESORT AMENITY ELEGAN TLY LAN D SCAPED GROUN DS LAP LENGTH POOL A ND JAC UZZ I SPA LUXURIOUSLY FU RN ISH ED SUN D ECK PUTII NG GR EEN BA RB ECUE/PI CN IC AR EA PRO FESS IONALLY EQU IPPED FITN ESS CENTER GAME ROOM W ITH BILLI AR D S TA BLE MED IA ROOM W ITH DVD TH EATER STATE-O F-TH E-ART BUSINESS CEN TER IN DOOR SECU RED PARKING
FABULOUS PENTHOUSES DIRECTLY ON THE INTRACOASTAL IN WEST PALM BEACH FROM
$250,000 TO
$500,000 TOWER RESIDENCES FROM THE
$150S
ONE, TWO AND THREE BEDROOM HOMES AVAILABLE-
IMMEDIATE OCCUPANCY ~ --- ~f--
F L\.G.. L' .E R P' 0' 1\ T E ... ' ~
~
~
INVESTMENT BANKING/BUSINESS OBJECTIVE: The Company is seeking market support. In February 2003, EarlyBird Capital managed an equity offering for CPI, raising $7.8 million in net proceeds, which eliminated bank debt and substantially increased working capital. EarlyBird continues to advise the Company.
COMPANY DESCRIPTION: Founded in 1980 and based in Edgewood, Long Island, CPI Aerostructures, Inc. is engaged in the contract production of structural aircraft parts principally for the U.S. Air Force and other branches of the armed forces. In conjunction with its assembly operations, CPI provides engineering, technical and program management services. The key programs CPI supplies include the C-5A Galaxy cargo jet, the T-38 Talon jet trainer, the A-1 0 Thunderbolt attack jet and the E-3 Sentry AWACS jet. Some of the parts CPI produces are skin panels, leading edges, flight control surfaces, engine components, wing tips, cowl doors, nacelle assemblies, inlet assemblies, aprons and engine mounts. CPI has more than 23 years of experience with over 1,100 contracts completed.
RECENT DEVELOPMENTS: Through October 31 , 2003, new contract awards totaled $28.9 m illion, up 37 percent as compared to the same time last year and surpassing the $24.5 million for all of 2002. Fo r the nine months ended September 30, 2003, revenue increased 15 percent to $20.8 million, from $18.0 million; and net income, excluding gains and tax benefits, rose 27 percent to $4.2 million from $3.3 million in the first nine months of '02. Forbes magazine recently ranked CPI No. 10 in its 2003 200 Best Small Companies list. Of note, CPI was ranked No. 4 on a separate Forbes list based on return on equity. The Company was also named 2003 Manufacturer of the Year by the Long Island Forum For Technology.
STRATEGIC BUSINESS PLAN: Capitalizing on its more than two decades of experience producing and supplying the military with critical structural parts, as well as its reputation for quality and on-time delivery, and a strong balance sheet, CPI is pursuing larger multi-million contract awards.
Real-time Public Company Profi les avai lab le at
96 Valu eRich Magaz in e
o
AEROSTRUCTURES , INC. MANAGEMENT: Most members of CPI 's management team have held management positions at large defense contracto rs including Grumman, Lockheed, and Fairchild. Edward Fred, CPI 's President and Chief Executive Officer, has been at the Company since 1995, starting as Controller. In April 1998, he was appointed CFO and several months later he joined the Board of Directors. Following a series of promotions, Mr. Fred was named CEO earlier this year. For 10 years before joining CPI he was at Grumman, where his last position was controller of the International Division. Mr. Fred holds a Bachelor of Business Administration in Accounting from Dowling College and an Executive MBA from Hofstra University.
CONTACT INFORMATION: CPI Aerostructures, Inc. Edward Fred, President & CEO 200 A Executive Drive Edgewood, NY 11717 631-586-5200 Fax: 631-586-5840 efred@cpiaero.com www.cpiaero.com
www.valuerichonli n e.com
o
ValueRich, Inc. , 1.56 1 .832 . 8878
INVESTMENT BANKING/BUSINESS OBJECTIVE:
MANAGEMENT:
The Company is seeking market support or advisory services.
Steven A. Kriegsman, President and Chief Executive Officer, previously served as director and Chairman of Global Genomics Capital LLC. Mr. Kriegsman is President and founder ofTKG, a financial advisory firm specializing in the development of alternative sources of equity capital for emerging growth companies. C. Kirk Peacock, Chief Financial Officer, previously was Chief Financial Officer and Vice President of Operations at DigitaiMed, Inc., a venture-backed subsidiary of Tenet Healthcare, the second largest U.S. healthcare provider. David Haen, Director of Business Development, assists in negotiating strategic alliances, mergers and acquisitions, and in-l icensing and out-licensing of product opportunities. Carolyn French, Director of Communications, directs and oversees communications programs that effectively describe and promote the organization and its technologies.
COMPANY DESCRIPTION: CytRx Corporation is a ribonucleic acid (RNA) interference (RNAi) and biopharmaceutical company focused on the development and commercialization of high-value human therapeutics. CytRx has a broadbased strategic alliance with the University of Massachusetts Medical School (UMMS) that has given the Company unparalleled access to RNAi technology and serves as a broad platform for a myriad of drug discovery applications including: obesity, type II diabetes, and Lou Gehrig's di sease (ALS). CytRx has strengthened its ALS research program by teaming up with Massachusetts General Hospital to utilize CytRx's RNAi technology. RECENT DEVELOPMENTS:
• On December 10, 2003, Bruce Spiegelman, Ph.D., of Harvard University joined CytRx's Scientific Advisory Board (SAB) of its obesity and type II diabetes subsidiary, Araios, Inc., increasing its size to four members. • For the nine months ended 9/ 30/ 03, revenues fell 93% to $87 thousand. Net loss totaled $8.9 million, up from $3.6 million. • In December 2003, the Company was featured in BusinessWeek's Equity Investor's 26-Week Micro-Cap Review. Companies were chosen for the semi-annual Micro-Cap Review, now in its third year as a BusinessWeek special feature, on the basis of their percentage gain in stock price for the six-month period ending September 30, 2003.
CONTACT INFORMATION:
Steven Kriegsman, President and CEO 11726 San Vicente Blvd., Suite 650 Los Angeles, CA 90049 (31 0) 826-5648 Fax: (31 0) 826-6139 stevenk@cytrx.com http://www.cytrx.com
STRATEGIC BUSINESS PLAN:
CytRx is currently seeking strategic partners to complete the development of FLOCOR, and two licensees, Merck & Co., Inc. and Vical Incorporated, are currently developing TranzFect. The Company is also seeking to license its TranzFect technology for development as a potential DNA-based adjuvant for Human papillomavirus (HPV), Herpes simplex virus (HSV), and Hepatitis C virus (HEPCV).
R ea l-tim e Pub lic Company Profiles ava il ab le at • www. va lue ri cho nli ne . com • Va lue Rich, Inc., 1 . 5 6 1 .832.8878
ValueRich Magazin e 97
INVESTMENT BANKING/BUSINESS OBJECTIVE:
MANAGEMENT:
Electric City Corp. is seeking market support and advisory services.
Electric City Corp. is led by a strong management team and board of directors. Management have the experience, expertise and qualifications to effectively lead the Company towards becoming a leading developer of independent negative power systems. Led by CEO John Mitola, this team of professionals have col lectively raised billions of dollars for power development projects and created innovative and revolutionary energy programs. It has developed power technology hardware and software applications, and designed, spearheaded and overseen the development of large scale supply and demand side utility projects.
COMPANY DESCRIPTION: Electric City Corp. was founded in 1998 as a developer, manufacturer and integrator of energy saving technologies. Electric City provides focused, competitive and targeted energy-avoidance through demandresponse/ power-curtailment, retrofit services and distributed generation technologies. Using the flagship technology, EnergySaver™/ Global-Commander™, Electric City enables the combination of permanent demand reduction and demandresponse programs available in local distribution areas. This plan is called the "Virtual Negawatt Power Program (VNPP®)."
RECENT DEVELOPMENTS: In the summer of 2003, Electric City announced its first major VNPP with Commonwealth Edison Company (ComEd) in Chicago. The $25-million program is designed to develop 50 megawatts of demand response within 18 months. Electric City has announced that many large municipalities and the State of Illinois have agreed to participate in this VNPP system development. It has already signed up enough host customers to capture over 25 megawatts of load reduction. In the wake of the recent massive North American northeast blackout, the state of Illinois announced that Electric City CEO John Mitola was to serve on the Illinois Governor's Task Force to Review Energy Infrastructure
CONTACT INFORMATION: Glen Akselrod, IR Consultant 141 Adelaide Street West, Suite 1004 Toronto, Ont. M5H-3L5 416-629-5245,416-203-0017 Fax glen@thestockpage.com www.elccorp.com
STRATEGIC BUSINESS PLAN: Electric City has set in place key elements of its business plan over the last couple of years. The Company has reached enough customer scale that the stage is set for it to lead the industry with solutions to the nat ion's aging energy infrastructure. Electric City is a leader in the development of energy savings/ power management technologies integrated into independent negative power systems. This leadership role is based on the company's ever-increasing customer success rate and it s first 50 Megawatt VNPP development with Com Ed.
R ea l-t i me Public Company Profiles ava ilab le at
98 Valu eRich Ma gazin e
o
www. va luerichonline.com
o
Value Rich, Inc., 1. 56 1 . 8 32.8878
INVESTMENT BANKING/BUSINESS OBJECTIVE: The Company is seeking market support and advisory services.
COMPANY DESCRIPTION:
fourth and first quarters and a profit in the second and third quarters. Upon financing, management will execute a merchandizing initiative that will consist of building brand image and aligning merchandise that is consistent with the brand image.
Intra-Asia Entertainment Corporation manages and controls Weifang Fuhua Amusement Park in China's coastal Shandong Province in the City ofWeifang. The amusement park has consistently delivered strong attendance and has been profitable since its commercial opening in April 1994. The Weifang Fuhua Amusement Park is the largest in the Shandong region in all measurements, most importantly acreage and number of attractions. Intra-Asia Entertainment Corporation also develops and markets lighting items such as hats and vests and kits for bicycles, cars and motorcycles for both novelty and safety purposes.
Stanley Wu has served as Chief Executive Officer since January 2004 and is the founder and Chairman of the Jimswood Group of companies in California. Companies within the Jimswood Group have holdings and joint venture interest in Japan,China,Mexico and in the United States. Mr. Wu is chairman of the Board of Directors. Duo Wang has served as a member of our board of directors since August 1999 and as our Chief Financial Officer since November 2001. Mr. Wang serves as the Chief Financial Officer.
RECENT DEVELOPMENTS:
CONTACT INFORMATION:
• On January 2, 2004, GloTech Industries, Inc. (New Symbol OTC Bulletin Board: IRAE) (Old Symbol OTC Bulletin Board: GTHI) today announced the completion of its name change to Intra-Asia Entertainment Corporation and its trading symbol change to "IRAE': The Company also announced a 1-for-5.37 reverse split of its common shares, effective January 2, 2003. These actions follow the Company's acquisition, announced on December 19, 2003, of Intra Asia Entertainment Corporation, the eighth largest amusement park operator in Ch ina. • On December 19, 2003, Intra-Asia Entertainment Corp. was acquired by GloTech Industries, Inc. This transaction was accompl ished as a statutory merger pursuant to a stock exchange agreement.
MANAGEMENT:
Stanley Wu, CEO 725 South Figueroa Street, Suite 1650 Los Angeles, California 90017-5416 (213) 622-8558 Fax:(213) 622-7833 jimswood@adelphia.net www.asiaeg.com
STRATEGIC BUSINESS PLAN: The Company plans to employ a three-pronged approach that will yield significant returns. One tactic will be to expand their brand equity through acquiring underval ued, mismanaged Asian parks in Asia and building on land adjacent to the Weifang Park. The other tactic will be to combine Chinese parks with experienced American amusement park management. Concurrent with their strategy, Intra-Asia is planning to build an indoor amusement park, which will eliminate the seasonality of business that operates at a loss in the
This summ ary is intend ed sol ely to present sa lient facts from a pros pectu s or oth er offering document w hich shall acco mpany this summ ary, the co ntents of w hi ch are incorporated herein by reference and this summary must be inte rpreted in light of such document includ ing but not limited to sections therein regard ing, risk, suitability of any invest ment, forwa rd-looking statements and nature and transferability of securities purcha sed in connection th erewith. Thi s summary is not a solicitation to sell any securities and m ay not be delivered separately from t he document to w hich it is attac hed w ithout the consent of Intra-Asia Entertainment Corporation.
Re a l-ti me Public Company Profiles ava ilab le at • www. va luerichon line. com • Value Rich. Inc ., 1 . 5 6 1 . 83 2 . 8878
Valu eRi ch Magazine 99
INVESTMENT BANKING/BUSINESS OBJECTIVE:
MANAGEMENT:
The Company is seeking market support and advisory services.
S. Leslie Flegel, CEO and Chairman of the Board, has served in these positions since the Company's inception in 1995. He was previously the principal owner and CEO of Display Information Systems Company, a predecessor of the Company, for more than 14 years. James R. Gillis, President and COO, became President and COO in August 2000 and was appointed as a director of the Company in March 2000. Previously, he served as the President and Chief Executive Officer of Brand Manufacturing Corporation. Marc Fierman, CFO, has served as Chief Financial Officer since November 2002. Previously, he served as Vice President of Finance (July 2001-November 2002) and Vice President of Finance-Display Division (March 1999-June 2001).
COMPANY DESCRIPTION: Source Interlink Companies, Inc. is the largest direct-to-retail magazine distributor and leading provider of marketing and front-end management services to publishers, retailers and vendors throughout North America. The Company is also the leading custom designer and manufacturer of retail fixture displays for publishing, confectionary, and general merchandise products. There are two complementary operating units, Distribution/ Fulfillment and In-Store Services. These divisions provide full-service turn-key solutions that enable retailers, publishers, confectioners and general mass merchandisers to manage and grow their respective businesses in the multi-billion dollar front-end checkout sector. Through its integrated, broad-based market capabilities, Source Interlink reaches approximately 500 million consumers on a weekly basis.
RECENT DEVELOPMENTS: • In November 2003, the Company announced a new $65 mil lion bank credit facility. • For the third quarter ended October 31,2003, revenues rose 14 percent to $92.0 million compared to $80.9 million in the same period last year. Net income was $4.6 million, or $0.23 per diluted share, before a non-recurring refinance charge totaling $615,000 after the effect of taxes. Including the refinance charge, net income was $4.0 million, or $0.20 per diluted share. • On July 21, 2003, Source announced the signing of an agreement to provide direct-to-retail magazine distribution, export management and information services to Wenner Media, Inc.
CONTACT INFORMATION: Source Interlink Companies Contact: S. Leslie Flegel, Chairman and CEO 27500 Riverview Center Blvd, Suite 400 Bonita Springs, FL 34134 (239) 949-4450 Fax: (239) 949-7633 lflegel@sourceinterlink.com www.sou rceinterlink.com
Real-time Publi c Compan y Pr ofil es avai lab le at • www.valuerichonline.com • Va lueRich , In c., 1 . 561.832 . 8878
100 ValueRich Magazin e
INVESTMENT BANKING/BUSINESS OBJECTIVE:
STRATEGIC BUSINESS PLAN:
laser International, Inc. is seeking market support services.
The company continuously markets and develops its technologies for law enforcement, personal security and private defense markets. As new technology becomes available, lASER makes use of it to update its product line to make advanced less-lethal weapons more available and enhance usability. The need for security is increasing. lASER is a market leader in supplying a product that keeps society safer.
COMPANY DESCRIPTION: lASER International, Inc., a leader in conducted energy weapons technology, provides advanced lesslethal weapons for the law enforcement, private security and personal defense markets.lASER International is committed to providing non-injurious solutions to violent confrontation by developing products that enable people to protect themselves without causing injury or death to another human being. The Company is driven to do all that is possible to ensure that society, as well as its customers, can benefit from their products, while upholding the highest level of personal and professional ethics in the execution of business. The Company was founded in 1993 and completed its IPO in 2001 .
RECENT DEVELOPMENTS: • On December 15, 2003, lASER announced that the U.S. Congress had affirmed its belief that members of a flight deck-crew of a cargo aircraft should be armed with a firearm or a lASER® brand less-lethal conducted energy weapon to defend against terrorist attacks. The language specifically mentioning lASER is part of the FAA Reauthorization Bill, which was signed into law last week by President George W. Bush. • In December 2003, lASER announced four significant orders for fourth quarter 2003. • lASER had revenue growth of 100 percent in 2003, making it a market leader. • In June 2003, lASER purchased laser Technologies Inc. and Electronic Medical Research Laboratories, d.b.a Tasertron, its only competitor.
Re a l-time Publ ic Company Profil es ava il ab le at
102 Valu eRich Magazin e
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MANAGEMENT: Rick Smith, CEO and Co-Founder, has served as Chief Executive Officer and as a director of the Company since 1993. Mr. Smith and his brother founded the company in September 1993. Dr. Phil Smith, Chairman of the Board, has served as a director ofTASER International, Inc. since 1993. Thomas Smith, President and Co-Founder, has served as President of the Company since April 1994 and as director since 1993. Kathleen Hanrahan, CFO, is the Company's Chief Financial Officer and also has current responsibility for manufacturing within the company. Doug Klint, Vice President and General Counsel, has served as Vice President and General Counsel of the Company since December 2002.
CONTACT INFORMATION: lASER International, Inc. Phil Smith, Chairman 7860 East McClain Drive, Suite #2 Scottsdale, AZ 85260 (480) 905-2000 Fax: (480) 991-0791 phii@TASER.com www.taser.com
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IEDLAND CAPI
"Henry, why are you driving yourself crazy like this?"
n.Town
lfs a question Henry Kalla n, cha irman of HK Hotels, hears often. At thi s mome nt, the query co mes from a wea lthy friend w ho has fl own in to Prag ue for the grand opening of Kal lan's newest hotel, th e Aria . "It's not about the money," Ka ll an rep lied."You do it for t he love and res pect of the people yo u love and respect. it's only fun w hen yo u ca n share things w ith others." Story by Ellen Bainer
The Library, with its 41st street and Madison Avenue address, rooftop gardens and book-themed rooms, is one of Manhattan's finest boutique hotels. This is how Henry Ka llan takes busi ness -
personally. His life lessons very much
and plans are in motion to open a property
worked harder. I wasn't concerned about
in Montreal by next spring.
how much I was paid in a certain job; I saw
sha pe the development of HK Hotels. Coming from Czechos lovakia to New
Lessons in the American Dream
each job as just a stepping-stone to the next thin g. It's about being positive and having a
York City at age 20 with just $20 in his pock-
Ka llan is as eager to share the secrets of
et, Ka llan landed a job as a busboy. He
his success as he is hospita ble. First and fore-
In the last few years his success has rest-
retu rned to the same hotel seven years later
most he had a plan. "l made su re I was loya l
ed on "quality, not short-term goa ls and gim-
as its general manager.
and did t he ri ght thing," he says.
micks." To Kal lan, being t he boss means
goal"
Today, at 56, Kallan owns and operates
Speaking virtually no English w hen he
four Manhattan hotels - the Elysee, the
arrived in NYC, Ka llan attended night school
good fortune to be an owner of a property,
Giraffe, Casablanca, and the Library - and is
after hi s 12-hour workday, even though
even if I have partners, I always make sure I
most others in the Czech community were
have the fina l say. You need someone to
cu rrentl y ope ni ng
hi s fifth, the Hote l
Gansevoort, which will be the on ly luxury
saving for a house and car.
doing it your own way."When I have had t he
make the final decision. I suppose I ended up
property in NYC's t rend-setting downtown
"I had different prioriti es," Ka llan explains.
Meatpacking District. Aria, the new 5-star
"I d id it t he hard way. I never worried about
hotel in Prague, is his first outside t he U.S.,
t hings that others worried about -
I always
doing it my way." He pauses. "Like Sinatra sings!" Kallan is a natural host. Even in those early ValueRich Magazin e 105
Kallan's new Aria Hotel , left, is located in the most beautiful area of Prague. Music-themed rooms feature Josef Blecha caricatures of famous composers and musicians, such as Mick Jagger and Keith Richards from the Rolling Stones, below.
years in New York when his first Engl ish lessons came from his back-of-the-house coworkers, he says,"l was very friendly always." In Czechoslovakia, he had worked summers at a hotel reception desk in his hometown ."! enjoyed being nice to people w ithout expecting anything back. It was fun to m eet new people. And I rea lized I'm good at it." "These hotels have my personality," claims Kallan. "Making everybody feel at ease. We never say no." According to him, hotels are all about lifestyle."lt's about being comfortable, not just with the right mattress or shower -
we have oversized 'ra in show-
ers'- but fee li ng good about w here you are
The Aria's luxurious Mozart suite features a beautiful view of Vrtbovska gardens.
and feeling you deserve to be where you
at you r hotel'; he says."Not in you r room, not
service arena where other boutique entrants
are."
making you buy a martini for $12. We give a
fa ll short.
Kallan creates inviting pub lic spaces in his
good feeling -
like
Reviewers describe the ambi ance at
being in you r own living room. It's what one
Ka llan's hotels as,"brimm ing with warmth';"a
for exam ple. Where most New York develop-
shou ld be offered in a fine hotel: true hospi-
friendly, professiona l staff," and "less attitude-
ers wou ld try to take advantage of every inch of profit-producing square footage,
ta lity.''
hotels.Take the rooftop lounge at the Library,
Kallan has instead created a rooftop oasis for his guests. It is comprised of two beautifully
not intim idating -
prone" than other trendy establi shments.
People
Casablanca, for example, rates as one of the best boutique hotel s in Times Sq uare:
Kalla n, a consummate manage r, has
Instead of the Armani-suited bouncers and
furnished terraces, a glassed-in conservatory
developed a special set of ski lls acqu ired
unisex androids t hat populate many of New
and a smal l library lounge with sofas and
on ly by doing."l've done every job in a hotel.
York's t rendier hostelries, the staff here
leather arm cha irs set before a working fire-
You have to feel for your people.They make
shows a warm, welcom ing humanity that
place. And it's open to guests around the clock
it for you or they break it."Ka llan's connection
many arriva ls are unprepared for.
to his staff and his understanding of every
"You w ant to have people come visit you
job in the hotel makes his hotels sh ine in the
106 Valu eRich Magazine
"We create a team'; says Kal lan."lt's feeling
comfortable -
not on ly with the style and
The intimate Five Diamond, Moroccanthemed, Casablanca Hotel is in the heart of New York City's theater district and revitalized Times Square.
Rick's Cafe, in the Casablanca, offers guests a warm fire, a complimentary continental breakfast, assorted teas and coffees and cookies throughout the day. Each floor of the hotel is dedicated to a musical style -
classical, jazz, rock -
and
each room to a composer or performer. Stay in t he Louis Armstrong room, for example, and take an extra hour before bed to turn on the computer and read up on Satchmo's life and times."AII of a sudden you're an expert," beams Kallan. "It's fun I "Sometimes when you live your life on a daily basis you don't have time. There are so many things you don't get to do. Here you have a unique experience. "I had an old friend';Kallan recounts, "who design and physical aspect of the hotel but w ith the kind of people working there. I can truly say I like all the people w ho work at my hotels." And Ka ll an backs up that sentiment with his checkbook."After September 11th'; he sa id,"business wasn't great. We continued to provide cost-of-living increases for our employees. We never la id off an employee. In sma ll hotels, it's like a family."
Value Va lue is at the cornerstone of HK Hotels. "We are priced correctly'; says Kallan, who claims a repeat guest factor of SO percent to 70 percent at all his hotels, an astounding
Once a playground for movie stars, artists, writers and intellectuals, the Elysee Hotel is an oasis of elegant peace in the center of Madison and Park Avenues' shopping and dining district.
feat given today's price-driven market. Each of his hotels (the largest is 100 rooms) offers
created is simple: a quality product and a
used to say, 'Life is a gift, but living is a talent
a private club ambiance. For under $300 a
lifestyle concept. People do have a reason to
and ta lent is rare.' It 's up to each of us. Some
night in Manhattan, you'll get a room in a
experience my hotel. They have a nice room
people have it all and they don't realize it. We
great location, free breakfast, afternoon wine
but they also have a good experience."
take th ings for granted in the U.S. I realized
and cheese and evening snacks served in
The Aria's theme, in keeping with Prague's
that when I came here and I just went for it.''
the guest lounges. Not to mention other
history and cu lture, is music,. "They make a
From the beginning, Kal lan knew instinc-
guest-friendly amenities such as free passes
perfect duet," says Kallan. The hotel has a
tively that he didn't want to exist with limita-
to the New York Sports Clu b, free Internet
Director of Music on staff. Schedu led screen-
t ions. By the t ime t he Russian tanks rolled
service in the lounge and guest rooms, and
ings of COs and DVDs take place in the
into Prague in the summer of 1968, young
in-room refrigerators filled with bottled
music sa lon located off the main lobby. "It
Henry Ka llan had al ready landed in New York
water and Leonidas chocolate.
sounds li ke you're in a concert hal l," says
and begun climbing the ladder of success.
But Kallan adds an extra twist- besides
Kallan. Guests can reserve the salon for up to
"My dream was simple," he said."l just want-
the quality room, service and amen ities, each
six guests or just wander in for the sched-
hotel has a unique theme. "What we have
uled concerts.
ed to be someplace where I could be myself" VR Valu eRi ch Magazi ne 107
Hotel Gansevoort Tops ManhattanS Sizzling Meatpacking District by Ellen Bainer Drop off the dog at woof doggie spa, across the street. Check out the Manolos at Jeffrey. Turn the corner for a quick croque monsieur at Pastis.
You're living the life in New York City's hottest new neighborhood -
the Meatpacking District Fashion designers,
celeb chefs, art galleries and hip night spots have burst onto the scene in a neighborhood whose cobblestone streets date back 150 years. Designers Stella McCartney, Alexander McQueen and Catherine Maland rin o (whose creations adorn Madonna and Nicole Kidman) have opened fiagship stores here. JeanGeorges Vongerichten, mega-chef and restaurateur, adds to an array of upscale eateries with his innovative Asian-inspired menu at Spice Market. And now, w ith the open ing of Henry Kallan's new Hotel Gansevoort, Manhattan's Meat Packing District wi ll get its first fu ll-service luxury hotel. "HK Hotels are known for service, location, guest comfort and distinctive amen ities. The Hotel Gansevoort brings together these key element s as the first fu ll-service luxury hotel in the revitalized Meatpacking District," says Stacy Dreyfus, Director of sales and marketing for the hotel. The 187-room hotel, built from the ground up, boasts Hudson River views, a signature rooftop pool and sizzling style. The innovative rooftop is the first of its kind in Manhattan. Surrounded by glass, the 45-foot heated outdoor swimming pool w it h underwater music anchors one side of the rooftop. On the other is a lushly landscaped garden and expansive "event loft" with 20-foot ceilings and commanding city views. The duplex penthouse suite features a two-story wall of w indows and soa rin g fireplace w ith inset 30-inch plasma TV Add custom-designed furniture and accessori es (a mink th row on a wh ite duvet!) and you've got the ultimate "toastof-the-town" suite. Soph isticated and minimal ist in design, guest rooms offer lofty ni ne-foot ceilings and lots of natural light Many open to Hudson River views from step-out balconies and bay w indows. High-speed Internet access and Wi-Fi allow you to stay connected in t he city that never sleeps. The lobby buzzes w ith the edgy style of the neighborhood. Computer-controlled illum inated g lass columns create
Hotel Gansevoort is located in the heart of the Meatpacking District between the West Village and Chelsea, at 9th Avenue and 13th Street. For a limited time, introductory rates begin at $325 for superior rooms. Suites with balcon ies start at $595. Two-story duplex penthouse suite rates begin at $3 ,500. 108 Valu eRich Magazine
the mood w ith changing colors. Eelskin columns, mohair panels, leather and velvet accent the sleek design. Step outside the lobby to eat, shop and linger in New York's hippest neighborhood. And don't forget your dog. VR
by Ellen Bainer
Heli-Skiing with Canadian Mountain Holidays
10-m inute helicopter flight to the lodg e.
The Deal Seven-night packages include accom-
A skier's dream: fresh white powder and
modations; all mea ls, snacks, and non-alco-
no lift lines!
Are you ready?
ho li c beverages; escorted transportation
In deep snow, the fitter you are t he more fun
from Calgary; certified guides (not ski
you'll have. You'll get 100,000 vertica l feet of
instructors); use of specially designed Heli-
ski ing in a week- that's a lot of ski in g!
Skis and safety equ ipment; taxes, inc luding
Get the feeling
GST rebates for non-residents of Canada .
"You real ly are on top of the world."
Rates are in Canadian dollars (a rea l value
"Amazing beauty.""We were the on ly ones
at about 75 percent of the U.S. dollar!) and
out there.""At the top, you see range upon range of peaks in all directions."
When to go
The common area of the Monashee lodge.
Accommodations
range according to date, lodge and run from about $4,836 per person, double occupancy
12 different areas from eight remote
(about $3,696 U.S.) during off- peak months December and April to $7,941 per person,
January, February and March are the most
lodges, each w ith large common area, d in-
double occupancy (about $6,070 U.S.) dur-
popu lar, but in April there's fre sh powder
in g room, exerc ise room, wh irl pool and
ing peak season February and March.
and more daylight!
sauna. Family-style dining w ith staff and
How to book
Special equipment
guests.
Mid-December through end of Apri l.
Skis and poles are provided. Bring your own boots and clothing.
Don't miss A beautiful run in champagne powder! 110 ValueRich Magazin e
How to get there Fly to Calgary, Alberta, Canada. Buses depart Saturday morning to each of 12 remote ski areas (4-to-7 hour d rive). Then a
Call your trave l agent or Canadian Mountain Holidays (800) 661-0252. Book early! It's not too soon for the 2005 ski season .. . nor is it too late for 2004!
www.cmhski.com
40
EUROPEAN LUXURY & HOSPITALITY JUST MINUTES FROM MIDTOWN
Conde Nast Traveler's Hot List ranks the
DELAMAR "one of the best new hotels in the world," CNTraveler, May, 2003. An art-fiUed Tuscan villa. Reminiscent of a Mediterranean villa, the DELAMAR is decorated in sun washed Tuscan tones. Original paintings grace the walls. The lobby features Jerusalem limestone floors and spectacular views of romantic Greenwich Harbor. "May I ta.ke you to your room?" Luxury at the DELAMAR is matched by hospitality and graciousness of service. Your stay begins with a personal greeting upon arrivaL Your car is parked by the valet without the usual charges. Your express check-in is quick and paperless. A manager personally escorts you to your room. A refreshing no tip policy. The DELAMAR is a no-tip hoteL No tipping means the emphasis is on pride of service. This old world attitude permeates every aspect of the hoteL Bathroom fit for a King (or Queen). Spacious bathrooms await with Italian marble floors, coral marble vanities, hand-painted framed mirrors, and embroidered shower curtains. Step under our oversize rain water shower heads -- or, bathe luxuriously in our deep cast iron soaking tubs. Slip into our deluxe terry robes by Frette. A pillow-top mattress for your dreams. At the end of the day you will drift into sleep on our dreamy, pillow-top mattresses, wrapped in luxurious 300-thread count Italian linens by Frette and FiJi D'oro, complemented by down pillows and duvets. i'
The Gadget Armoire. Elegance with a function. The DELAMAR's hand-painted armoires gracefully conceal large flat screen televisions and both DVD and CD players. Each room is equipped with high speed Internet access, three two-line telephones, plus a wall safe large enough to accommodate a notebook computer. A mini-food and martini bar make impromptu entertaining easy.
Your own private view of Greenwich Harbor. Most rooms have private balconies with wrought iron furniture and spectacular views of our deepwater 600-foot dock which can accommodate yachts up to 160-feet. Four-star dining and room .....- ---....,:=Mill_,_......, service. Connecticut Magazine calls the food at our elegant Provenc,:al harborside restaurant, rEscale, "sublime" and bestows its highest four-star rating. rEscale serves breakfast, lunch and dinner as well as room service. In season, dining is alfresco as you sit by the water and watch the yachts glide by. A superb location. The DELAMAR is just steps away from the world-class shopping mecca of Greenwich Avenue, minutes from express Trains to Manhattan, and adjacent to Exit 3 oflnterstate 95. Introductory rates from $175. For more information and reservations, visit our website at www.thedelamar.com, call toll-free 866-335-2627 or 203-661-9800. • G R E E N .W I C !H • IH ARB 0 R • 1
1
DELAMAR GREENW ICH HARBOR HoT EL • 500 Steamboat Road • Greenwich , CT 06830
RECREATING
HOSPITALITY ON THE
GREENWICH WATERFRONT
Xtreme winter adventures 路 Chile
Hiking in South America at Explora Lodges in Patagonia & Atacama Park (Patagon ia) and nort hern Ch ile's
Santiago to Ca lama, w here Explora picks you
mountain biking in two remote areas of
Ataca ma Desert.
up for the 1-hour drive to the lodge.
Chile.
Don't miss
The Deal
Hiking, horseback riding, trekking and
Are you ready? No expe ri ence necessary!
Get the feeling Snow-capped mountains, lakes, and
Th e skies over Ataca ma are the clearest
Seve n-ni ght packages in clud e t ransfers
in the worl d: NASA tested the Pathfi nder
to and from Punta Arenas or Calama air-
here before they sent it to Mars.
ports; accommodations; three meals a day,
Accommodations
house wine, drinks and soft drinks; daily
served on fine Eng lish ch ina in t he din ing
When to go
room, a cozy bar, indoor lap poo l, sauna,
(g roups limited to 10 per gu ide).
boat dock and open air Jacuzzis.
Patagonia: standa rd accommodations, per
Ou r w inter is their sum mer!
Daytime
hig hs of 75 degrees, nighttime lows in 40s.
Special equipment
30-room hotel features excel lent cu isine
explorations with bi lingual gu ides, equipment, boat, horses, vehicles and supplies
unique rock formations. Untouched natural beauty.
How to get there
person, double occupa ncy from $2,323 U.S.
Fly to Santiago, Chile (S 'h hours nonsto p
Atacama: sta nd ard accommodations, per
Bring your hiking boot s. Exploratio ns
from Miami). For Patagonia, take a 4-hour
person, double occupa ncy from $2,44 1 U.S.
How to book
in clude horseback riding, hiking, trekking,
fli ght to Punta Arenas, w here Explora w ill
photographic safaris, m ou ntain biking and
pick you up and drive you to the lodge (5
Call yo ur travel agent.
more throughoutTorres del Paine National
hours). For Atacama, take a 2-hour flight from
www.explora.com
11 2 Valu eRi ch Magazin e
Xtreme winter adventures · Wyoming Snowmobile Touring in Jackson Hole, Wyoming Day trips through Yellowstone National Park
Are you ready? For advanced t rips like Togwotee Pass and Grey's River, you'll need off-road experience snowmobi le or jet-ski expe rience. No experience necessary for Yellowstone, but bring a valid driver's license.
Get the feeling Blue skies, abundant snow and beautiful scenery.
Guided snowmobile trips are the best way to see Yellowstone in the winter.
When to go Yel lowstone is open from December 17
Don't miss
$15 per snowmobile. Old Fait hful $210 (90
Buffa lo, elk, wolves, eagles.
until March 14.
How to get there
Special Equipment
mi les
rou ndtrip,
trai l
only)
Full
day;
Yellowstone-Grand Canyon $230 (122 mi les
Don't bring a thing! They'll outfit you in
Fly to Jackson Hole, Wyoming. You'll be
roundtrip, trail on ly) Full day. Additional riders
a one-piece snowsu it, boots, gloves and hel-
picked up at your hotel for the drive to
$80 per adu lt (13 and over); $60 per ch ild (5- 12)
met. Your snowmobile is a brand new Artie
Yellowstone (about 1'/2 hours).
How to book
Cat 660 or Po lari s 550 Spo rt Touring (each
The Deal
Call Jackson Hole Snowmobi le Tours 800-
Yellowstone National Park entrance fee
equipped with electric hand warme rs).
633- 1733
Xtreme winter adventures · Colorado Winter Ice Driving School in Steamboat Springs Colorado The only driving school of its kind in North America offers World Rally Racing techniques for cornering, acceleration and braking.
Are you ready? No experience necessary
/
Get the feeling
.'
Look out the passenger window to see
JL
w here you're going!
When to go 2004 Program Sc hedul e: January 23-24; February 7-8. Groups of 8 or more may schedul e add itional dates.
Special equipment A good pair of sunglasses
,......
.. -
.. ,. .. I"
·'
{
"
.··-:,.- . Training is available in front wheel drive, rear wheel drive and sports utility vehicles.
Don't miss Learn the "Scand inavian Flick"
How to get there Track is located at t he base of the ski area in Steamboat Sp ring s.
Two-day performance program costs
How to book
$1 ,5 50; including two days on sem i-private
Call 800 WHY-SKID (800 949-7543) VR
co urse w ith individua l attention , video
www. winterdrive.com
tape preview, video review and feedback. ValueRich Magazin e 113
x.Peditions
Learn to Defy Gravity from a Master
Darin Shapiro owns the space between air and water. He is a master of improbable physics. Can the human body spin this way while flying that way? Darin doesn't answer the question ... he shows you. In fact, he'll show you how to do it for yourself. Story by Will Andrews
and boats to hi s tra1n 1ng facility near
Darin Shapiro has been competing ever
Orlando, he takes the business of wake-
since the first pro wakeboard contest was
boarding seriously ... but not too seriously,
held in 1991 . He is the winn ingest rider in
because above all else, wa keboarding is fun.
the history of the sport. His countless inno-
Darin spent most of his youth skii ng or
vation s and creativity have brought moves
surfing. But it wasn't until wakeboarding's
to wakeboarding that other rider s are
introduction that he truly found his kindred
unable to duplicate. He is currently the 2003
sport. Now he wa nts to share it w ith every-
World Tour Champion and his titles include
one. His training faci lity, Ride The Spot, is avail-
6-time Pro Tour Champion. 2-time World Tour Champion, X-Games Champion, U.S.
able for riding, training and instruction at all
Open Champion, Masters Champion and so
levels (beginner to pro) using pioneered
many more. He has completely dominated
coaching techniques. The training schedule
his sport for 12 years ... a feat not duplicat-
can be as serious or fun as you want it to be.
ed in any other sport.
Students and guests can also wake surf.
Darin got to where he is by being a true professional. For Darin, it's all about the best. From his training regimen to his equipment 114 ValueRich Magaz in e
wake skate, ski, tube, or just enjoy beautiful Lake Mary Jane. Darin's facility is unique in the waterski-
ing and wakeboarding commun ity. The Spot's comfortable 1000-square-foot lakeview guest house is suitable fo r up to five people and boasts many amenities in cluding a hot tub to relax in (after t hree intense sessions of riding per day), a large-screen TV and high-speed Internet. Each night, guests are t reated to a gourmet meal catered by Ride The Spot 's own private chef. Breakfast and lu nch are also provided in the package cost complete w ith a fu lly stocked kitchen and refri gerator for those midnight shacks.
Ride the Spot guest house. The Florida weather is pleasa nt al l yea r round . Lake Mary Jane offers gorgeous sunset s in a secluded natural setti ng j ust 15 minutes from Orlando. Most of the coaching is done by Darin himself. Often students rub elbows w it h pros who are frequent visitors. But Da rin believes in letting students go at t heir own pace, so there is no assem bly lin e style of riding. He bel ieves in making it fun -
whi le
ma ki ng su re you get a lot done on t he water. Da rin is confident his guests leave Ride The Spot having had a blast, and primed as radica l proponents of his beloved
sport. The Spot offers one-day, th ree-day and five-day packages rang ing from $400 to $2,100 per pe rson. Wi nter specials are available from January 1 t hrough March 31, 2004. VR www.goridethespot.com www.da rinsha piro.com 116 Va lueRich Magazin e
Darin jumps one of the two sliders available for training at Ride the Spot.
Todd English's Bonfire features ranch cooking from around the world .
Todd English and his restaurants have received endless accolades, ever since May of 1989, when he opened Olives, in Charlestown, Mass. to international acclaim. It has been voted one of the 'Top 10 Restau rants" by Esquire, received the"Best Food"and'Top Table" awards from Gourmet, was named the"Best New Restaurant" by Boston magazine and is consistently named Boston's favorite restaurant by Zagat. However, it was in 2001, when he was named one of People magazine's "50 Most Beautiful People," that English's face became as renowned as his cooking. That same year Bon Appetit recognized him as "Restaurateur of the Year." At age 20, Eng lish began his studies at the Cu linary Institute of America, graduating with honors in 1982. He apprenticed with Jean Jacques Rachou at New York's La Cote Basque and then relocated to Italy, where he polished his craft and developed his unique cooking style at the well-known Dal Pescatore in Canto Sull O'lio and Paraccuchi in Locando D'Angello.
It's Good to be English Celebrity chef Todd English is on a roll ... and it's taking him all over the world
Olt\'L'
Olives is a popular gathering spot in New York's W Hotel.
English's KingFish Hall is located in Boston's Historic Faneuil Hall.
Upon return ing to the United States at
Beach, SC with golf great Greg Norman; and
Engl ish restaurant aboard the Queen Mary 2.
age 25, English served as the executive chef
King Fish Hall, in Boston's Hi storic Faneuil Hall.
English caught the culinary world's eye in
for the award-winn ing Michela's northern
English also has fou r Figs restaurants in
1991 when the James Beard Foundation
Italian restaurant in Cambridge, before open-
the g reate r Boston area and two locations at
na med him the "National Rising Sta r Chef,"
ing Olives restaurant as a 50-seat storefront.
New Yo rk's LaGuard ia Airport. Figs serves
and then in 1994 named him the best chef in
Olives was later moved to a larger space
not-so-t rad it iona l pizzas and ha nd made
the Northeast. He was also the first recipient
down the street from its original location.
pastas. Eng li sh opened his casua l Rustic
of the Robert Mondavi Awa rd for Culinary
English has opened other Olives locations
Kitchen, in a second Faneu il Hall location,
Excellence and appeared on the companion
through-out the U.S.: Olives New York in the
and Tuscany at Mohegan Sun gam ing resort
public television cookin g series America's
W Hotel in Union Square, Olives Las Vegas at
pays homage to his Ita lian roots.
Rising Star Chefs. The respected Nation's Restaurant News named Engl ish one of their
the Bellagio Hotel, Ol ives DC in the heart of
English's latest concepts incl ude Bonfire, a
Washi ngton DC Ol ives Tokyo, and Olives
steak house celebrating ranch cooking from
Aspen at the St. Regis Hotel in Aspen, Colo.
'Top 50 Tastemakers."
arou nd the world; BlueZoo at the Walt Disney
Maybe you've seen Todd Engl ish on his
Additiona lly, English has opened Miramar
World Dolphin Hotel featuring coasta l cui-
public television series, Cooking In with Todd
at The Inn at National Hall in Westport, CT;
sin e w ith both international and New
English produced by Connecticut Pub li c
Greg Norman's Australian Grille in Myrtle
American cu linary influences; and the Todd
Television, or perhaps as a special guest on
Queen Mary2 Goes English
Iron Chef USA, Martha Stewart Living, NBC's Today Show, CBS This Morning or Live with Regis and Kelly, among others.
What could be better than cruising on the
English is also the author of three critically
grandest vessel in the world while enjoying
accla imed cookbooks: The Olives Table, The Figs Table and The Olives Dessert Table published by Simon & Schuster.
the cuisine of one of the world's greatest chefs? The maiden voyage of the new $800 million Cunard Line flagsh ip Queen Mary 2 is
Between opening restaurants in Tokyo,
also the maiden voyage of the latest restuar-
Seattle, Florida and on the Queen Mary 2,
ant concept from cele brity chefTodd English.
En g lish's schedu le has been gruelin g lately.
Th e new 156-seat restaurant - simply
"Life has been full these past few months,
called Todd English- is English's first venture at sea and highlights interpretive Med iterran ean
both w ith wonderfull y positive things and
cuisine. Eng li sh worked closely w ith Cunard's desigers to create a visually stun ning atmosphere.
some trying times too," says English. "My
Poolside seating is be available.
theory is, get up in the morning, stand by
"Being involved w ith Queen Mary 2 is very exciting for me," says Engl ish. "Wh ile it wi ll be a
your mo rals and persevere. There is always
challenge, it is also a g reat honor for me to operate the signature restaurant on board t he great-
so mething positive to focus on, even in
est luxury li ner in the world."
chall enging tim es." VR ValueRich Magazin e 119
a.Toast
Sensual, Sinful Zins A finely-crafted zinfandel is red wine on steroids; there is more of everything. It can overwhelm and delight the senses. The initial rush of aroma and fruit makes a firm statement about the layers of flavor to follow. Story and photos by Greg Allikas
The mystery grape zinfandel has been the raw material of wines
time, they have produced w ines t hat have given them a reputation
that have inspired legions of devotees, if not fanatics. Don't mis-
as one of the top zin fandel prod ucers in the state and created a
take those pink, fruity soda-pop w ines so ld as "White Zinfande l."
cult-like fo llowing. The w inery itself is unassum ing, t he tasti ng room
They have little resemblance to the rea l th ing.
is comfortable and tastefu lly appointed in rustic decor.
Long of unkown orig in
The wines are wonderful.
and virtually identical to
Altho ugh Renwood Winery
Ita lian Prim itivo, it is now
do
vinify
other
grapes
generally accepted that the
(Barbera, Syrah, Viognier), the
zinfandel g rape has Eastern
focus is definitely on zinfan-
is in
del. These are not w ines for
Ca liforn ia, howeve r, t hat zin-
the meek, with an alcohol
fande\ w路mes nave reached
content (15%) that approach-
a pi n nacle of perfect ion .
es fortified wine. They are rich
Europea n roots . It
Alt hough good and even
in bramble and blackberry
great zinfandels are pro-
flavo rs and assault the nose
duced throughout the state,
with ripe fruit aromas. Each
the warm sunny days and
time another taste is poured
coo l nights of the Sierra
into your glass, you'll sniff and
Foothil ls provide an ideal cli-
say, "oh myl" Soft tannins
mate to bring out the ful lest
make the wines easily drink-
potent ial of the grape.
able today, but there them for ten or more years.
clustered in (no rth to south)
What
El Do rado, Amado r and
an easy 45-minute drive east of Sacramento and well worth t he visit. From there it is o nly an hour south down Hig hway 49 to the Amador and
Calaveras
wine ries.
There are plenty of picturesque B&B's along the way, and one ca n cover a dozen w ineries in a few days. in this article, we wi ll look at three memorable zinfandel producers of the region. Renwood Winery has been crushing grapes for only about a decade. In that 120 Va lueRich Magazine
impresses
most
about the Renwood zinfan-
Calaveras counties. The El Dorado establ ishments are
is
enoug h backbone to hold
The best vineyards are
2001 Renwood Fiddletown Zinfandel ($24.95) Cassis , dark chocolate and raspberry inside a wonderfull y jammy frame that is drinking beautifully now. Firm tannins indi cate improvement with 3-10 years of bottle age .
2001 Renwood Grandmere Zinfandel ($22.95) Ri ch frui t flavors with an array of plu m, tea and bramble. Firm tannins with a smooth and elegant fin ish. Aromas of dusty berry, chocolate , wh ite pepper and vanilla high I ight this wine. Drink now or hold for 5 or more years .
2001 Shenandoah ReZerve Zinfandel, Paul's Vineyard Beautifu I aromas of blackberry, cocoa and mu lberry highlight the wine. The flavor of ripe plum , berry and chocolate bring out the true oldvine character of this wine . 390 cases made.
2001 Villa Toscano Fox Creek Vineyard Zinfandel Luscious blackfruit and cherry nose; rich , ripe, voluptuous, chocolate-cherry and spicy-oakvani lla flavors; long, velvety finish . Shows the quality a Sierra Zin can reach when made from old vines. Drink now or hold for 5-10 years.
dels is the consistency of quality. Each is perfectly balanced but shows the
gout de
terroir of the vineyard . . Two of my favorites are t he 2001 Fidd let own and 200 1 Grandmere. Both offer excellent fruit and balance with a remarkable finish. The Fidd letown is perhaps a bit more rustic and w ill benefit from a few years in bottle. Grandmere is ready to drink now but certa inly will hold well for at least a decade or more. Renwood also offers its wines in odd sizes (mag-
LICENSE
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~~~ DAILY JANSSEN ARCHITECTS 2 HARVARD CIRCLE, SUITE 303, WEST PALM BEACH , Fl 33 4 09 561-640-5281 FAX: 561-640-5283 WWW.DAILYJANSSEN .CO M
The bistro at Villa Toscano, where you can have a delicious lunch and taste some fine Italian varietal wines- including great Zins. nums, double magnums, etc.), even half-
gallery make a lasting impression. The w ines, however, offer the best rea-
bottles.
this sma ll vineyard at hi s home for 18 years. It has consistently produced some of the
son for a visit. They are outstanding.
best grapes of all Shenadoah's vineyards,
Shenandoah produces a selection of w ines
and this bottling is made from 100 percent
Across the street from Renwood is
includ in g a proprietary blend of zinfande l
Paul 's Vineyard fruit. A second family-
Shenandoah Vineyards. Shenandoa h is an
and sang iovese ca lled "Zingiovese': Wine-
owned Amador winery, Sobon Estate pro-
early pioneer in Amador County, having
makers Leon and Paul Sobon's skil ls are evi-
duces five zinfande ls and four Rhone vari-
produced w ines since 1978. The wi nery is
dent; the w ines al l share a family resem-
etals. www.sobonwine.com
owned by the Sobon family two genera-
blance that is especial ly noticeable in the
Villa Toscano is the dream of founder
reds. Pau l Sobon recently assumed the duties of head w ine-maker at Shenandoah. Zinfandel has long been the flagship
Erika Wrig ht and co-owner Jerry Wright. The wi nery is a beautiful Mediterranean
wine of Shenandoa h Winery. Th e range of
Sierra Foothills. Tables below a grapevine
Renwood
Winery
is
located
in
Plymouth, Ca lifornia. www.renwood.com.
tions of whom can be found in the tasting room. Their superb wines are made from estate-grown grapes that are organi ca lly farmed.
villa set among the rol li ng vineyards of the
As an added attraction, there is an art
zins covers regu lar bottlings up to the ultra-
arbor provide a shady spot to enjoy a glass
gallery on the premises. Recently, they
reserve Paul's Vineyard. The regu lar 2001
of w ine. The bistro serves delicious lunches
we re showcasing photographs by the late
Special Reserve is a livelier, fruitier w ine,
accompanied by equally delicious w ines.
Galen Rowell, who died in a plane crash in
whi le the se lect reserves are ri ch and opu-
The tasti ng room is spacious and visitors
2002. Rowell was an avid outdoorsman and
lent. The 200 1 Pa ul 's Vineyard is sub lime,
feel as if they are in a Tuscan vi lla.
regula r contributo r to National Geographic
w ith deep layers of lush plum and black-
The wines produced at Villa Toscano
magazine. The large co lor prints in the
berry fruit. Paul Sobo n has been tending
show a strong empha sis on Ita lian varietals.
122 Valu eRich Magazine
Al l are impeccably handcrafted. This is zin
a custom-built cella r where smal l lots of pre-
vineya rds in the area and harvested at t he
country, though, so it's no surprise that Villa
mium wines are produced. Gordon's wine
peak of ripeness. The attention to detail
Toscano's zinfandels are among the best Wine-maker Gordon Bli nz worked at
begins in the vineyard where he has total control over crop levels and harvest time.
shows in his perfectly balanced wines.
Ridge, Mirrasou and Renwood/Santino
The best wines are produced from se lect
Toscano Fox Creek Vi neyards Zinfandel.
before com ing to Vil la Toscano. Here, he has
grapes, whi ch are often sou rced from prime
This rich, urbane wi ne is produced entirely from grapes meticu lously grown by Sue
Food Accompaniments with Zins There are some who tout the combination of Zinfandel and chocolate. We prefer real food with zin!
An example wou ld be the 2001 Villa
Fox and the late Jim Fox. These centu ry-old vines create a wine with deep layers of fruit and comp lexity. As an interesting touc h,
Although the best reserve wines stand up admirably to fare such as traditional
ba rre l tastings and futures were being
Italian pasta dishes, we favor grilled meats. Something simple such as a pork shoulder rubbed with herbs, then cooked over mesquite, allows a reserve wine to show at
offered on the 2002 wines while we were there. Vi lla Toscano also has a w ine club
its best. Grilled or roasted duck or game such as venison work equally well. Any
wh ich offers significant discou nts and
meat dish simply prepared will allow the rich zinfandel fruit to shine. Rack of lamb or prime rib also make fitting companions.
advance bottles of their wines unavailable
Regular bott lings are an excellent accompaniment to even casual fare such as
in the retail trade. www.villatoscano.com Avai lability of these wines wi ll vary
hamburgers, barbecue ribs or pizza. Their exuberant fruit can make an ordinary
depending on your location, but regu lar
meal memorable. There are zinfandels in every style to pair with everything from a
bottlings have fa irly wide nationa l retai l
classic cassoulet to a plate of Buffalo wings.
distribution. The best reserve wines are
Match young fruity wines with spicier assertive flavors and aged complex reserve
generally avai lable on ly at t he wineries,
wines with simple grilled meats and you can't go wrong. With their increased popu-
many of which now have "wine clubs"
larity, we may soon be hearing, "Let's have the Zinfandel instead of the Merlot."
offering select and newest offerings to be shipped directly to your door. VR
ValueRich Magazin e 123
n.S irati on
Seductive Love Trap Will Capture Your Heart by Tom Orr I know a few of them, and there's many more out there whom I don't know. Some are forthright about their desires, others are more covert. I'm ta lking about peop le who've gotten wind of t hat sizable (a nd growing) category known simpl istically as "world music"or"global music." They're wan ting to know more about it perhaps w ith the goal of obta ining some of it in order to bring a bit of cu ltural range or refreshed spirit to their music col lections. They're cautious, but nonetheless have an in kling of what to look for. Th ey know about some rare insta nces w here a world music album beca me an
influ ences from t he world at large. Sounds
Despite havi ng some very distinct build-
unexpected commercia l success, like the
of India, Africa, Asia and beyond are all pres-
ing blocks, the music of Susheela Raman is
very fine Buena Vista Social Club d isc. They
ent to va rying degrees, all reflective of the
tough to classify. The tag "global soul" has
know that artists like Peter Gabriel, Paul
cu ltural upbringing and artistic vision of a
been applied to it, and that seems as close to
Simon, David Byrne and Sti ng have some
unique woman.
clear-eyed labeling as we're likely to get.
"world" elements in their music. And with
Although she was born in London and
Personally, I think the casua l way her music
any lu ck at all, t hey're a cut above those
spent many of her form ati ve years in
defies categorization is pa rt of wha t makes it
lament ab le folks w ho believe that t he
Australia, Susheela Rama n is of South Indian
so charming. Raman's first album, Salt Rain,
macarena had someth ing to do w ith world
Tamil heritage. Her parent's deep-seated
(released in 2001 on the globally minded
music or may have come to t he conclu sion
Tami l roots instilled in her a natural affinity
Narada label) was a critically acclaimed feast
tha t any drum played w ith the hand s is
for singing Indi an cl ass ical mus ic. Even
of slow but insistent songs tinged w ith
ca lled a bongo.
sing ing in blues and rock-based ba nds as a
blues, dance numbers that pulsed with both
In short some people are looking for
teenager, she retained something of that
joyful abandon and dramatic tension, long-
world music that vyil l provide an enhanced,
traditiona l edge, eventually spu rring in her a
expanded listening experience w ithout jar-
need to merge her musica l influ ences into
ing folk ballads, tunes where India and Africa met somewhere in Europe, and much more.
ring their mainstream sensibilities. They
her own sound. To that end, Raman went to
The musicians who played on the disc came
w ant something that's authentic but won't
India in 1995 to study under master vocalist
from all over- India, Britain, Greece, Spain,
lead to a "what the heck are you listen ing
Shruti Sadolikar. Upon her 1997 return to
Burkina Faso, etc. Yet despite the range of
t o?" reaction from friends and associates.
Eng land, she hooked up with guitarist Sam
w hat went into it, the album sounded anything but sloppy and unfocused. In fact, it
Susheela Raman is one artist w ho ca n fill
Mill s, noted for fusing Indian, African and
t hat void. In her multifaceted music you'll
other elements into his work (Raman and
sounded great. Part of the reason for this was
hear a definite pop/rock attitude, but her
Mi ll s have been paired professionally an d
the remarkable symbiosis of the musician's
songs are laced with a seductive strea m of
persona lly ever since).
styles, w hich was never less than seamless.
124 Valu eRich Magazin e
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Love Trap highly noteworthy
Then there was Raman's voice. Her singing drew com-
albums is how accessibly
parisons to that of Shirley
they come across. The many
Bassey (think of the song
global fiavors do not stop
"Goldfinger" from the James
these recordings from hav-
Bond movie of the same
ing a sound that is somehow
though
quieter
remarkably familiar in its
moments could bring to
appeal, thanks to a winning
m ind the confessiona l frailty
combination
of, say, Natalie Merchant. It
melodies, varied tempos and
name),
of
catchy
was a voice that sounded
a sense of musical discovery.
great am id layered, lavish
Open-minded fans of rock,
instrumentation as well as
dance music, jazz, pop and a
moments that were nearly a
sprinkling of avant- garde will
cappella.She could even take
find much to tune in to.
a song like :Trust in Me"-
Language barriers are often a
yes, the one that Kaa the
stumbling point for potential
snake sings in Disney's The
world music listeners, so it
Jungle Book - and make it her own. Salt Rain went gold
must be mentioned that
in France, won awards in
sung
most of Raman's songs are in Tamil
and
not
England and led to live
Engl ish. If you can get past
appearances wh ich assured
that fact, the rewards are
fans that Raman could cut it
many. Unlike many pop divas
onstage as well.
who seem to feel a need to
2003 saw the release of
constantly prove they can
the Love Trap album (a lso on
sing, Raman never forces the
Narada), on which Raman
issue. Even if you don't under-
took the wide-ranging beau-
stand a word she's singing,
ty that marked Salt Rain and
her voice is easily appreciat-
put a bit more sass into it. On
ed for the instrument it is,
the CD cover, her full-lipped,
combining with the musical backing to carry the listener
curly-haired visage has t he look of someone who's just tumbled into bed with thoughts of anything but sleeping. And if you were to simply read the lyrics of the opening title track, you might think they were plucked from a Britney Spears song. But Love Trap has loads more than inane teen titillation on its mind. The song is structured on the pentatonic scale used in the traditional and popular music of Ethiopia, giving it a genuine sensuality that's
Contemporary grooves give the feel of being on a dance floor in a foreign metropolis, but just as present are exotic sounds that conjure up images of far-flung locations utterly unspoiled.
on a journey to places of mystery, adventur-
along w ith another stel lar cast of musicians including Africa's finest drum set player, Tony
manner not intended as a political statement, but for purely aesthetic reasons that
Allen . A sizab le helping of contemporary
go a long way toward po inting out com-
ous fun and newfound beauty. With the word "d iversity" bandied about in today's world almost to the point of being meaningless, the music of Susheela Raman is diverse in the truest sense. It links cultures, boundaries, ideas and histories in a
sharp and penetrating. From there, the disc
grooves gives t he fee l of being on a dance
mon ground wel l worth investigating. So
unfolds into a rich palette that follows no
fioor in a foreign metropolis, but just as pres-
clear some space on the shelf for your soon-
formula left over from Salt Rain but goes
ent are exotic sounds (like some other-
to-be-inaugurated world music section, and
even deeper. Songs based around cen-
worldly Tu va n th roat-singing) that conjure
consider one or both of Susheela Raman's
t uries-old Indian devotional music, Latin
up images of far-flung locations utterly
CO's a wond erfu l starting point. If you
touches, Arabic flourishes and a version of
unspoiled.
already have such a section, th ink of them as
Joan Armatrading's "Save Me" stand out, 126 Va lueRich Magazin e
What rea lly makes both Salt Rain and
a lovely add-on. VR
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Gods an~~ Generals
What is wrong with the stock market? By Charles V. Payne Stock market observers often look for rela tio nships that are ana logous to the
stock market. Hi storica lly, only diseases and
wethe rs like Genera l Electric (GE) and
relig ions have captured as ma ny adherents
Internationa l Business Machines (IBM).
as the post "irrational exuberance" ra lly did.
Today, there aren't any stocks that can
action in the market.Today's stock market is
Even the bears and the curmudgeons
ga lvan ize the market.The de facto gene rals,
probably most analogous to wa r, the Civil
were sucked in eventua lly. At one point t he
largest pu blic compa nies, aren't rallying the
Wa r to be exact - neighbor versus neigh-
Tisch fam ily was $2 bi llion underwater on
troops. Investors look to them for some sort
bor, each with theori es t hat lead them to
short positions. Wa ll Street began upgrad-
of leadershi p, but it is not forthcoming.
look for different things from stocks.
ing stocks with astronomical targets for
One neig hbor goes long on XYZ w hile
companies with no earnings.
In fact, the stock market wou ld be lower if it had fol lowed t he generals. IBM has
th e other goes short. In the process they
The last three years of the bu ll market
beco me market enemies. This scene is
defied all conventiona l w isdom . Li ke magic,
paign
sta ll ed. General Electric is mired in a camaga in st
Wa ll
St reet
detractors.
repeated from house to house, city-to-city,
ord inary stocks became huge w inn ers.
Microsoft, its share price langu ishing below
state-to-state. As a resu lt, t here is an ideo-
Massive inventory machines pumped out
$30 since last Sept ember, hasn't been able
log ical divide sp litting t he stock 路market
goods without regard to end-demand. Each
to rally itself, much less the troops.
apa rt. The problem with t hi s so-ca ll ed war, is
week a new buzzword or invention was
Conclusion
that there are no gods and no generals.
promoted. It was al l consuming, and all too
It wi ll be a long t ime before the stock
Fervent Beliefs
easy.There was too much conviction.
market reaches re ligious status again. But
At the close of 1997, the stock market
But by 2003, post 9- 11 cynicism replaced
bel ief in the system, and in this nation's
co mpl eted its seventh consecutive year
enthusiasm. Once investors became aware
virtues mig ht create the backdrop needed
higher, w ith t he Dow up more than 20o/o fo r
of market realities, and investment shenan i-
for a convincing ra lly.
t he third consecutive year -
gans, th e pendu lum of investor con fid ence
a histo ri ca l
first. Thi s prompted a choru s of ca utiona ry
swung back to the negative.
As for the general s, that is trickier. Many investors open the financial section of the
comments, including t he now infamous
Adulation of the ma rket turned quickly
paper and go straight to t he bel lwether
comment of "irrational exuberance" from
to distrust. Now, the better the economic
quotes. But I don't think it will be the bell-
Alan Greenspan, Chairman of the Federa l
news, the less responsive investors become.
wethers t hat save the stock market.
Reserve. Ironical ly, the pred ict ed fa ll of the
The resu lt is a self-fulfil ling reaction by
stock market, on ly seemed to prod the marc
stocks. They don't respond as they shou ld.
ket to a faster, more determin ed pace.
The ultra-co nviction of the late 1990's,
Fanta sti c ni che plays abound . These stocks cou ld be angels spreading limited joy and influence, but they are too small to be
Charles Mackay wrot e about hist oric
has g iven way to a wave of ult ra-pessim ism.
man ias in Extraprdinary Popular Delusions
Consequently, there are no supern atu ra l
A dose ofTulipoman ia is un li kely to hap-
market leaders.
and the Madness of Crowds. The Crusades,
forces swaying popular op inion today.
pen. Instead, I th ink success itself w ill
The Miss issippi Sc heme, The So ut h Sea
There are no gods in t his stock market. So it
unleash the t rue potential of the market.
Bubble and Tulipoma nia were exa m ples he used to show that mass hysteria is usua lly
is up t o the genera ls to seize the day.
This looks li ke the on ly answer, since there
Semper Fi
don't appear to be any gods or generals on
related to money, religi o n and power.
The ma rket has always had general s dur-
the horizon. VR
Manias happen w hen ord inary folks aban-
ing good times, bellwether stocks that led
don common sense and historic norms in
the way fo r others.
favor of a new conviction. Belief in a new paradigm partly fueled
During the exuberant1990s, the ma rket had an endless array of would be general s,
the 1990s stock market mania. Everyone
including Sun Micro (SUNW), Cisco (CSCO),
thoug ht they possessed the tools an d
Nortel (NT), Intel (INTC) an d Microsoft
knowledge to partake in the bounty of the
(MSFT). These stocks replaced ea rlier bell-
128 Valu eRich Magazin e
Charles V. Payne is the founder, CEO and Princi pal An alyst of Wall Street Strategies, a leading independent stock market research company since 1991. He is a regular contributor to intern ationally televised networks and shows coveri ng the stock market, and is routinely sought after for his market op inions by news organizations.
Enjoy this complimentary copy of ValueRich magazine, the publication that combines market and capital development information with style and excitement. Visit www.valuerichonline for real-time public company profiles and additional ValueRich investment banking resources.