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[Fwd: Latest on Alden] (fwd)


===============================================================================
Robb Kambic                                Unidata Program Center
Software Engineer III                      Univ. Corp for Atmospheric Research
address@hidden             WWW: http://www.unidata.ucar.edu/
===============================================================================

---------- Forwarded message ----------
Date: Mon, 09 Oct 2000 16:30:21 -0600
From: Joanne Graham <address@hidden>
To: Unidata Staff <address@hidden>
Subject: [Fwd: Latest on Alden]

Hi all:

Here's the latest forwarded by Jimmie. 
Dave and Joanne;

Here is the latest on Alden - looks as if they are pretty much gone:

Alden Electronics is shut by sheriff
Tuesday, October 3, 2000
By Jim Bodor
Telegram & Gazette Staff
WESTBORO-- Some ominous storm clouds are gathering around Alden
Electronics
Inc., a weather information company.
The Worcester County sheriff has shut the company and seized its
computers,
satellite dishes and other weather-gathering devices, Deputy Sheriff Al
Bove
said yesterday.
The move came in response to a lawsuit in Westboro District Court filed
by
40 Washington Ltd. Partnership, an arm of Carruth Capital LLC, which
owns
the building at 40 Washington St., where Alden Electronics is situated.
Alden Electronics owes the partnership more than $107,000 in rent,
according
to Mr. Bove and court records.
According to the court records, Alden agreed to two judgments totaling
about
$107,000. The court then issued an execution, which gives the sheriff
authority to seize the company's assets and sell them to satisfy the
judgments.
The lawyer for the partnership, Joseph R. Jenkins of Shrewsbury, said it
initiated the seizure because it wants to free up Alden's space so it
can be
leased to another business.
"They went a number of months without paying, and we just couldn't wait
any
more," Mr. Jenkins said.
He declined to say how many months had passed without payment and
declined
to comment further.
Eight others creditors are owed various amounts, in most cases for
leased
equipment, said Mr. Bove.
The creditors include First Sierra Financial of Houston; Mercantile
Capital
of Wynnewood, Pa.; and Bayview Funding of Palo Alto, Calif., he said.
The sheriff's office is in the process of contacting those creditors to
determine how much each is owed, Mr. Bove said.
The sheriff's office will hold an auction of Alden's property as soon as
each creditor is contacted and agrees to the auction, he said.
The lawyer for Alden, Joseph H. Baldiga of Worcester, declined to
comment.
Alden's chief executive officer, David K. Doyle, did not return calls
seeking a comment.
Alden Electronics has weathered some stormy times since its founder,
John H.
Alden, died in 1989.
At its peak, the more than 50-year-old company sold a wide range of
weather
products and services, including satellite phone systems, computer-based
weather-information receiving stations and even heavy-duty fax machines
used
by the Marines.
The company also sold a computerized list of government bids and
contracts
called the Commerce Business Daily, and packages of weather information
used
by newspapers, television stations and ocean-going boats.
Before Mr. Alden's death, the company tallied annual sales of about $20
million. By 1995, the company's revenue dwindled to about $13 million
per
year, while losses climbed to $1.8 million.
In 1997, the company was delisted from the Nasdaq Stock Market when its
share price dropped below minimum levels.
That year, the company was sold to AEIRE Corp. of Sunrise, Fla., which
later
sold Alden to Platinum Equity Holdings of California.
Last year, Platinum sold Alden to WELS Research Corp. of Boulder, Colo.,
another weather data and forecasting company. At that time Alden had 28
employees. WELS still owns the company. WELS officials referred all
questions to Mr. Doyle


Hope to see you folks in ABQ.

Jimmie