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Wayne Cooper still active at Kennedy Info.

An omission and a couple of errors found their way into the NL/NL 1/16/04 article, "Cooper brothers leave Kennedy Information to set up investment firm."

Regarding the omission, Wayne Cooper wrote us that while he was stepping down from day-to-day management of Kennedy Information, he will "remain active in Kennedy as an advisor and board member. I care very much about the health and future success of Kennedy Information and BNA [the parent company] and will remain involved. The story title and quote give the impression that I have no further relationship with Kennedy, which is not correct."

We also wrote that "Giles Goodhead was leaving Kennedy to join the two brothers at Greenhaven Partners." In fact, Cooper said, "He has not been involved with Kennedy for years." He is joining the Coopers, though, at Greenhaven Partners.

Finally, in response to our reporting of Kennedy's revenues when it was sold to BNA three years ago, Cooper wrote, "I have never given you any information about Kennedy's revenues, profitability or sale price, and I can't. The price that BNA paid for Kennedy Information was not a record in terms of revenue or profitability. It was a reasonable price for a very profitable company that was growing rapidly, sitting on a lot of cash and had very strong franchises."

Cooper continued, "The sale price you state is correct, but you understated Kennedy's revenue by a lot, which in turn inflated the price-to-revenue ratio."

We got our figures for both the sale price and revenues from our own article on the subject (NL/NL 11/15/00), written by then-publisher Jim Marshall. At the time of printing and until now, those figures were not disputed.

The Newsletter on Newsletters regrets any inconvenience that these errors may have caused anyone, and we thank Wayne Cooper for the gracious manner in which he pointed them out.

Greenhaven Partners, 290 Thorndike Pond Road, Jaffrey, NH 03452, 603-532-6011, wayne@greenhavenpartners.com.
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Title Annotation:Clarification
Publication:The Newsletter on Newsletters
Date:Feb 15, 2004
Words:327
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