Five shareholders representing the Sharholders' Group attended...

Five shareholders representing the Sharholders' Group attended the
meeting with Dear John who was flanked by The Accountant and The
Auditor. It was very hot in the little room at the Royal Hotel and
there was piped rock'n'roll music to add steam to the atmosphere.

Dear John was noticeably upset that he was confronted with a lot of
questions and defended his management stoutly. As a guesture of
conciliation, he said he wouldn't be taking any legal action over
what he considered aspertions. The shareholders didn't respond, but
memories flashed through their minds of poor Oscar Wilde.

One thing was certain: Dear John was left in no doubt about the
grievances of Minority Shareholders. Constrained by company rules
about giving sensitive information concerning PPN, he did not reveal
anything new relating to the current financial situation. Except to
say that PPN was making money and paying its way. But where are the
benefits of PPN's progress going?

Ouch, John! The Minority Shareholders are not getting a slice.

But John is drawing a salary of $475,000 and one of his companies is
also getting a financial benefit from PPN.... a combined amount of
about HALF A MILLION DOLLARS. Oh John, no wonder Shareholders
TREMBLE !!! One thing to come out of the meeting was this:

The building (No. 13)next to the Daily Planet, which can't have a
liquor licence, is part of John's financial empire. He is or wants to
rent a large part of No. 13 to PPN who would be the licensee for a
watering hole appropriately named the "Horne Bar".

He told the meeting that the registered office of PPN had been moved
from a suite in Flinders Lane to upstairs rooms at No. 13 for which
PPN is paying rent to one of the Trimble companies. If this deal was
done at "arms length", then the arm of a pigmy embrio might have
been the measure.

Dear John, you kept telling the meeting that you had problems.The
patient Shareholders finally had to tell you very clearly that they
also had problems, and that you were sitting right on top of them.