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36%  
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Keyword: pacificcoin

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  • Pacific Coin: The Untold Story (Must read; no comfort for the Davis campaign).

    08/06/2002 11:05:47 PM PDT · by daviddennis · 58 replies · 1,714+ views
    Bill Simon Campaign | 08/06/2002
    Quick summary of article: The Simon family runs a venture capital firm, which invested in Pacific Coin. Bill Simon opposed the venture, saying that it would suffer from competition with cellular phones, which is in fact what happened. Other family members thought differently, so the investment was made. A major clause in the agreement gave Ed Hindelang 23% of the company and effective veto power over any investments, mergers or public offerings. Hindelang did not use this power, and in fact enthusiastically participated in the deals that lead to the company's demise. He was fired as CEO when his felony...