The Palm Beach Post from West Palm Beach, Florida on March 28, 1998 · Page 34
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The Palm Beach Post from West Palm Beach, Florida · Page 34

West Palm Beach, Florida
Issue Date:
Saturday, March 28, 1998
Page 34
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Page 34 article text (OCR)

SATURDAY, MARCH 28, 1998 13B THE PALM BEACH POST 65 million households could miss financial goals, group says services: Misleading or illegal sales of high-tech investments with promises of high profits and minimal risk, in areas such as 900 telephone numbers or the Internet. Entertainment deals: Scams touting investments in movie deals and other entertainment ventures, with promises of guaranteed profits and failure to disclose risks. FRAUD from 6B i bhalanx of federal agencies, securities industry groups and consume organizations are promoting a saving and investing campaign stretching nationwide and rom Canada to Chile. ! Thev warn that 65 million pressure telephone operations, known as "boiler rooms," selling penny stocks and other investments. Municipal bonds: Risky municipal bonds secured by overvalued real estate that are marketed as "safe" general-obligation bonds. Immigration investments: Sales of investments portrayed as conferring "alien immigration status" on foreign nationals seeking to emigrate to the United States. Bogus franchise offerings: Fraudulent franchise investments often are sold at business opportunity and franchise shows. High-tech products and Sales of securities to investors who can't afford them, fraudulent securities offerings and market manipulation, often involving relatively cheap, high-risk "penny" stocks. A year ago, state regulators made a "sweep" of penny-stock brokerages and brought 36 enforcement actions against 14 firms. Investment seminars: Regulators are monitoring the proliferation of investment seminars and financial planners, watching for unlicensed activities and hidden fees and commissions. Telemarketing fraud: High- gious, ethnic and professional groups, perpetrated by members of the groups or people claiming to want to help them. - , Asian-American communities in Southern California, for example, recently have been targets of bogus investment schemes for precious metals and foreign currencies. Internet fraud: Scams using the Internet that include stock price manipulation, illegal pyramid schemes, insider trading and acting as a broker or investment adviser without being properly licensed. Abusive sales practices: tionwide on the latter date. There also will be programs for children, young adults and senior citizens at the national and state levels and in 20 other countries throughout the Western Hemisphere. On Monday, there will be a national roundtable in Washington on saving and investing with major figures from government, business, consumer groups and the media. Here is NASAA's list of the top 10 areas of fraud. They are not ranked in order of importance or other criteria: Affinity group fraud: Investment scams targeting reli Wcrican households could be tvmied in achieving their We 'roals because of inadequate fi- milcial planning. I ffhe weeklong start of the ambaieri. from Sunday through April ,4,' will include an investors' own meeting to be broadcast na 1 ... . Doctors stopped luring patients I DO HOT BUY ANOTHER CD, ANNUITY or VIATICAL PROGRAM! Until You Call Our Toll Free 1-888-262-7804 24 HOURS FOR A FREE REPORT Great Rates Low Costs PHYMATRIX Wellington Mortgage (561) 791-0566 www.wellingtonniortgagc.coni A l.icmst'd Murmuge Brokerage Business PhyMatrix FrotySB such as diagnostic imaging centers, and offer its physician and other health services to managed care, companies. Headquarters: West Palm Beach Business: medical management company Manages or owns about 200 physician practices, about half in Florida. Affiliated with more than 12,000 doctors. Stock symbol: PHMX Stock Market: Nasdaq Employees: 920 Chairman: Abe Gosman 1997 revenue: $346.5 million 1997 profit: $20.3 million , Web site: Xogi cerra once said, : wnen you come to a iorK ;n the road, you take it,' " Gosman said Friday during a conference call with analysts. , The changes were driven by two factors. First, PhyMatrix officials realized that doctors whose practices they bought quickly lost interest in attracting more patients and increasing revenue. Rather than try to treat more patients, Gosman said, the 'salaried doctors played more golf. PhyMatrix now: mainly manages physician practices, and doc- tors-pay a percentage oi tneir revenue to me company.1 , Second, PhyMatrix s stock price has been stuck n the $12-$ 14 range for much of the past year, below he comnanv's $15 IPO Drice in January 1996. Phy TEACHERS! The Educational Services Department of The Palm Beach Post is having a Native American History workshop at Riverbend Park on Saturday, April 25, 1998. About 45 members of the Estelusti Seminole Tribe, dressed in native costume, will be joining us where the Battle of Loxahatchee took place. These tribe members are the descendents of the original Seminole Tribe which was led on the "Trail of Tears" from Florida to Oklahoma. Participating teachers will need to dress comfortably because there will be lots of walking, very hands-on! Payment and registration deadline is Friday, April 17, 1998. Component 5 17-395-00, 15 in-service points, $30 fee. For more information, call 800-432-7595 ext. 4648 or 561-820-4648. company's revenue grew 67 percent in the year ended Jan. 31, to $346 million, and its profit of $20.3 million translates to a 24 percent increase in earnings for each share, to 68 cents. PhyMatrix has repositioned itself by buying Clinical Studies Ltd., which performs clinical research studies at 33 sites in the United States. And the company has a contract with Beth Israel Medical Center in New York to manage its affiliated physicians and drug research. Gosman, a Palm Beach resident, said he will consider spinning off the clinical research part of the company if it enhances shareholder value. Matrix closed Friday at $12, down 81 cents. .Physician practice, management companies vere one of the hottest sectors on Wall Street in 1996 because of their potential to take control of the S250 billion physician services market. But. after a couple of big companies stumbled, producing earnings below expectations, investors took a more cautious approach to the industry. That has nun rTiyiviatnx, wnicn nas met analysis expectations each quarter since going public. The vir Tippett says selling her bus charter ! I Name: I Home Address:. I CityStateZip: pmpany was the best thing 1 ever did f Phone: I I MARIE'S n 1 1 T From 6B icnooi Name: Please mail with your payment to: The Palm Beach Post, Educational Services Dept., PO Box 24700, West Palm Beach, FL 33416 i ! Coach USA's Florida acquisi Coach USA Inc. Employees: 2,900 Headquarters: Houston, Texas Business: Charter bus company, airport shuttles and taxis tions gross $50 million a year, Corny said. The company plans to 1996 was priced at $14 a share. It's now at $45, closing up $1 on Friday. Institutional investors like the company, owning about 52 percent of Coach USA Tippett said the road ahead is paved with gold. "Once (Coach USA) gets in here, we're going to be the biggest and best," she said. "It was the best thing I ever did." As for that first bus sold a fewyearsagobyherson Tippett remembers it fondly. "It was the ugliest mustard thing, but everyone noticed it." each !1 billion in gross revenue Dy Mend of 1998, he said. : The company's tour business Oib'uld grow steadily because of ilcjhographic trends and greater jiirmnrt for leisure travel, sav ana 18$ Ssuth FlsrldM fciinci Mui:s&j lysts at NationsBanc Montgomery liecuritres in San Francisco, who've search analyst for NationsBanc. The industry includes tour buses, airport shuttles and taxis. "It remains very fragmented and regionalized," he said. Tippett said she wishes Coach USA paid her in stock. The company's initial public offering in May jut a "buy" recommendation on Coach. USA. ' They; still have a $25 billion notorcoach industry in front of ;hem," said David Scharf, a re- VOC claims environment wasn't exposed or harmed CALL 511 to check VOC : From 6B the winnina lottery numbers! It's only 50C a call to check! Just CALL 5-1-1, then enter code 1008. , A memo prepared by VOC's lawyer says the state never directed the company to stop or change its disposal practices. Also, the drums didn't have methylene to complete bridge financing that would have paid for company operations until it could complete a $5 million equity offering. Now, it is shutting down its Glendale, Calif., laboratory and making it a sales office. It will send samples for testing to Boca Raton. VOC (OTC Bulletin Board: VOCA) made its initial public stock offering last year at $3 a share. It closed Friday at $3, up $1.94 a share. The company reported a loss of $1.25 million on revenue of $4.9 million for the quarter ended Sept. 30. chloride in volume, the memo says. They contained vials with the chemical's residue, and most of 5l! MHiaiM mm Tirrfe II lacrnne he residue had evaporated belore he drums were shipped. "It's a very minor thing," Moreno said. "... it didn't harm he environment It wasn't excised to anything." All colls are 504 and will appear on vour teieipncne bili CAU 5 I I is o servce ot TKe Palm Beacfc Post, Sun-Serene, and Real Vetlow Paqes EARTH ' A conviction could cost vuta maximum fine of up to $500,000. But Moreno said the company will settle the charges. "We've made a business decision not to light this." The company, based at the Florida Atlantic University research park, filed for bankruptcy protection last month after failing Through May 1798 An incredible journey through time. Featuring Dinamation Dinosaurs, Ice Age Creatures & a "Future Zoo" you'll have to see to believe! i BI WSmWmmM mmw MMff """w register to Win $511 1. Call 5-1-1 on your telpphone... 2. Enter code 1-0-1-5 when prompted-. 3. Enter your phone number & last four digits of your social security number. .-it's that easy!!! All cm t SO and wil tppe- m pur telephone Ml Enter mi trues fw m. One winner chosen each morrft. You ma mm enter by maiHnc, your rami, iddrtn i phooe numlier wflh erte eo to: CAU 511 Cash Cortes, 2751 South Dixie Htftwe. West Pel Beach, a 3305 T7nU7M FImBeachCounly Florida r "" "-f ill . r-v r r, -vTMrr, Ponar-r The Museum is located in Dreher Park, WPB (behind the Zoo) VOC Analytical Laboratories Headquarters: Boca Raton Business: Environmental testing for Fortune 500 companies and government agencies Employees: 60 Operations: Boca Raton, Jacksonville, Orlando, Tampa, Chicago, Glendale, Calif., Mobile, Ala., and Columbia. S.C. Net sales: 1997 (six months) $3.4 million; 1998 (six months) $4.9 million Net Income (loss): 1997 (Six months) $14,290; 1998 (six months) ($1.25 million) ri Adults: S6; Children: S4 (3 Daily: 10 am - 5 pnv Fridays: 10 am -10 pm LL1U-JJ ! Just 50$ a call! MMliillW ! Brought f by CAU 5Tt. I service tt The PdnBeeck Post Sun Senta I I The M YeMo- Pages & ft! 3i tC !

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