David Feldman's book, Reverse Mergers: Taking a Company
Public Without an IPO, now in its third printing, was published in 2006
by Bloomberg Press (available on http://www.amazon.com).
View David Feldman's reverse merger blog at www.reversemergerblog.com.
Joseph Smith and David Feldman are coauthors of PIPES:
Revised and Updated Edition - A Guide to Private Investments in Public Equity
(Bloomberg Press, 2005) available on http://www.amazon.com.
In the News
David
Feldman is quoted in the lead paragraphs
of a Wall Street Journal article entitled
"Companies Plan Ways to Observe
September 11, 2002".
Companies
Plan Ways to Observe September 11, 2002
by
Rachel Emma Silverman
David
Feldman, managing partner of Feldman
Weinstein LLP, a small mid-Manhattan
law firm, recently sent a memo to his
staff granting them an extra day.
"In remembrance of the horror we witnessed
so close to us on 9/11/01, we will close
our office on 9/11/02," the memo said.
"I hope you will use the day to further
your personal nonbusiness priorities
and also to reflect on and honor the
sacrifice of those lost."
At first Mr. Feldman wondered, "If we
make it a holiday, does that mean the
terrorists 'win?'" "But, he concluded,
"to take one day to reflect and this
about the emotions that we're still
all dealing with made a lot of sense."
As Sept. 11, 2002, draws nearer, companies
across the country are grappling with
how to mark the day. Businesses such
as Cantor Fitzgerald and Aon Corp.,
which lost employees to the attacks,
are holding discussions with workers,
victims' loved ones and managers to
come up with appropriate ways to commemorate
the day. Companies not directly affected
by the attacks are also planning memorial
events. After all, the terrorist attacks
occurred in the workplace, drastically
altering the office environments of
workers across the nation.
"There are no easy calls here," says
Fred Price, chief operating officer
of investment bank Sandler O'Neil &
Partners L.P., which lost 70 employees,
consultants and visitors at its World
Trade Center office. "The sentiments
range from 'why don't you just close
the firm,' which is just not practical,
to just treating it like a normal business
day, which is not practical either."
At Sandler O'Neil, the company and victims'
family members started meeting several
months ago to figure out what to do.
The business plans to remain open but
have a private memorial gathering. In
addition, says Mr. Price, "we're going
to provide our employees maximum flexibility
to do whatever it is they want to do
or need to do."
Similarly, Booz Allen Hamilton, which
lost three employees in the attacks,
will be open and is holding a number
of special events, but also expects
many employees to take the day off to
spend time with their families, says
Michael Bulger, a company spokesman.
Others, such as Franklin Templeton Investments
and American Express Co., which each
lost employees, also plan to remain
open but still commemorate the day.
Many companies located far from the
terrorist attacks say they expect to
recognize the day quietly. Greg Malaver,
chief executive of Lanta Technology
Group, a small recruiting firm in Atlanta,
says he plans to take his 12 employees
out to lunch on Sept. 11 to "reflect,
talk, take a pause to make that a completely
different work type day."
Joe Kleinbauer, who runs J. Kleinbauer,
a small clothing boutique in rural Selinsgrove,
Pa., says the store will pause early
in the morning to "gather together as
a group and spend some time in prayer,
however you want to pray. I think everybody's
going to have some kind of feeling of
spiritual something or other that day."
The New York Stock Exchange and the
Nasdaq Stock Market expect to be open
on Sept. 11, say exchange officials,
but the markets may halt trading briefly
to observe a moment of silence, or have
special opening or closing ceremonies
honoring the victims.
Most schools across the country, including
New York City, are likely to remain
open. The city of New York is still
deciding how to commemorate the attacks'
anniversary. It has created a telephone
line and a Web site, open until July
31, for residents to submit suggestions.
A White House spokesman says the Bush
administration hasn't announced plans
for the anniversary but expects to do
so at least a week before Sept. 11.
For some, there is also the din factor
to consider. With so many competing
memorial services on Sept. 11, some
employers are choosing to hold more
intimate services on alternate days.
KeySpan Corp., for instance, held a
tree-dedication ceremony on July 12
for the 50 or so employees who lost
loved ones in the terrorist attacks.
"We chose not to do it near Sept. 11,"
says Kenny Moore, director of human
resources for the Brooklyn-based energy
company. "We felt that day would be
extremely charged." The company will
also hold a larger, employee-wide commemoration
on Sept. 11, but it hasn't formalized
the program, says a spokeswoman.
Intel Corp. has set up a half-dozen-person
task force to plan commemorative events,
says Tracy Koon, the chip-maker's director
of corporate affairs. Intel is also
likely to post employee reflections
on the company's intranet. "Something
we found out during Sept. 11 was the
thing that the employees appreciated
most was hearing from other employees,"
Ms. Koon says.
