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Public comment - please post
  • To: org-eval@xxxxxxxxx
  • Subject: Public comment - please post
  • From: Berrnie Lomax <bernie_lomax2000@xxxxxxxxx>
  • Date: Sun, 13 Oct 2002 17:35:13 -0700 (PDT)
  • Cc: david.mcguire@xxxxxxxxxxxxxxxxxx

In reference to an earlier posting by pacificmark@, I have to point out 
that the comments in ISOC's Annual Report are common, if not expected, 
for not-for profit entities.  This is the nature of a 501(c)(3) exempt 
corporation.  PIR, which has apparently already incorporated and also 
qualified for its tax-exempt status, will be starting with a clean slate 
and a "very" solid business model.  I'm quite optimistic about their 
endeavor.

Neustar's recent comments have made me question their viability as a going 
concern.  I was reviewing some recent Washtech articles by David McGuire 
which have raised some suspicions in my mind.  Mr. Ken Hansen has come out 
swinging (w/venom), and the whole Neustar team has obviously spent countless 
hours preparing attacks on the Final Report, ISOC, and ICANN.  But we 
haven't heard a sound from Robert Poulin (VP-Registry Services) or Jeff 
Ganek (Chairman).  In the past year, Neustar has closed half of their office 
space.  They have laid off ~ half their employees.  They have, and I quote 
"sell off useless assets - building 8 artwork, excess furniture, video 
equipment/tv's."  All of this due to the fact that they simply don't 
understand the basics of consumer demand in the services industry.

Now I am particularly concerned about this company precisely due to their 
propensity for debt financing.  They increased their current liabilies 
by over $60 million in 2001.  They have taken out secure loans to finance 
operations from Wachovia Bank and GE Capital.  Their equipment is leased 
from EMC, Sun, CDW, Cisco, Dell, etc.  Neustar owes 284% more to creditors 
than the entire net worth of the company.  This is not a healthy!

Purely from a financial stability standpoint, GNR is by far the most secure bet.

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