. . at least until the novelty wears off!

 

10th March 2000 Weather : Positively Springlike

IPO CHAOS REIGNS

'Total Hysteria' is probably the most appropriate description for the mayhem that took place at the National Bank of Tunaville just before closing it's doors for business last Friday afternoon.

Crowds of angry customers swarmed the offices of Tunaville's premier financial institution desperate to lodge their last minute applications for the first 'deal of the new millennium'.

The cause of such scenes was of course, the Initial public offering of 'Tim.Com', the backdoor listing and future internet vehicle of local entrepreneur and celebrity Tim Horsley.

Early indications provided by bank spokeswoman Linda Burton suggest that the IPO could be as much as 3,400,000 times over subscribed. Ms. Burton explained.

'We had numerous applications for what is perceived to be a sure fire success. It's a well known fact that Mr. Horsley has very strong links indeed into the currently untapped BigTown market and coupled with the current strength of the Internet sector this was just too good a deal to pass up for most punters.

The fact that Tim.Com doesn't have any assets or even a business plan at this stage doesn't seem to have deterred any of the punters. They obviously have a great deal of confidence in Mr. Horsley's ability to 'grease the right palms and make things happen.'

Mr. Horsley was unavailable at the time of going to press but subsequent rumours that he may be looking to offload his remaining 49% shareholding of Tim.Com once the floatation had been finalised and make a very tidy profit indeed were vehemently denied by his press secretary and fiancée/cleaner Dotty.
'It's outrageous to suggest that Tim would do such a thing. His total commitment to the company is plainly evident by the size of investment he has already made.

He spent many a minute thinking up the name and we must have used up to 5 or 6 napkins when designing the corporate logo. That sort of commitment doesn't come along every day you know.'

 

TUNAVILLE COMMUNICATIONS SUBJECT TO MYSTERY BID

The business rumour mill was operating at full steam last night as details emerged of a hostile take-over bid about to be launched for local telephony giant Tunaville Communications by an unknown consortium based in the Caribbean Island of Bermuda.

Tunaville Communications which is essence consists of a discarded telephone exchange behind No. 34 High Street has been the subject of such speculation for a number of months ever since the arrival of telephony guru and new chief executive Jodie Haraldson from a rival concern in DownUnderberg.

Industry analyst and part time policeman Chris Tinker explained :

'There's no doubt the arrival of Haraldson has injected some new life into what, let's be honest was previously a tired player in the telecoms industry. Up to her arrival the management were pretty much sitting on their laurels. Closure had always been their biggest problem in my opinion.

They certainly had plenty of opportunity but could never seem to make it count. To be honest I don't think they were ever able to regain their market share after that embarrassing RJ-45 scandal and the subsequent run in with OFTEL.

But with Haraldson at the helm things have certainly taken a change for the better. If the amount of money spent on client entertainment is any indicator, they must have punters queuing up left right and centre to do business with them. Plus they've now got some lovely new curtains and cushions in reception as well.'

Details of the pending offer are expected in the next few days although it is widely expected that the purchaser is not an immediate competitor. The Gazette will report details as and when they are known.