Baldwin Piano Names New Director to Fill Vacancy.Business Editors MASON, Ohio--(BUSINESS WIRE)--Jan. 8, 2001 The board of directors of Baldwin Piano & Organ Company (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :BPAO BPAO Benefits Planning Assistance and Outreach ), today announced the appointment of Kenneth W. Pavia, Sr. to the company's board of directors. Mr. Pavia, president of the California-based Bolero bolero (bəlâr`ō), national dance of Spain, introduced c.1780 by Sebastian Zerezo, or Cerezo. Of Moroccan origin, it resembles the fandango. Investment Group, will fill the board seat recently vacated by Brent D. Baird, who resigned from the board in late December, citing the time pressures of other business obligations as the reason. Commenting on Mr. Pavia's appointment, Karen L. Hendricks, chairman, president and chief executive officer of Baldwin said: "Ken Pavia has been a major Baldwin shareholder for several years, and I know he is anxious to be helpful to the company. The board will benefit from his thinking and perspective, and he will gain additional insight into the challenges and opportunities facing Baldwin Piano." Mr. Pavia has had broad experience as a money manager, a financial advisor in the entertainment industry, and in arranging financings as an investment banker Investment Banker A person representing a financial institution that is in the business of raising capital for corporations and municipalities. Notes: An investment banker may not accept deposits or make commercial loans. . He founded the Bolero Investment Group as a limited partnership in 1994. The Baldwin Piano & Organ Company was one of the Group's first investments. Mr. Pavia serves on the board of the Seibels Bruce Insurance Group, Inc. He is a former chairman of Fiduciary Leasco, Inc., one of the largest leasing companies in the Southeast, and of Fiduciary Funding Corporation, a provider of aircraft financing, investment banking, and financial consulting services Noun 1. consulting service - service provided by a professional advisor (e.g., a lawyer or doctor or CPA etc.) service - work done by one person or group that benefits another; "budget separately for goods and services" . Baldwin Piano & Organ Company, the maker of America's best selling pianos, has marketed keyboard musical products for over 140 years. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: This release contains forward looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products and pricing, product demand and market acceptance, reliance on key strategic alliances, fluctuations in operating results and other risks detailed from time to time in the company's filing with the Securities and Exchange Commission. |
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