[nfb-talk] Has Freedom Scientific Been Sold

Wed May 16 11:01:59 CDT 2007

Well, freedomscientific may not be too willing to discuss this beyond their 
podcast; and, they may choose to call it an investment; but, let's be honest 
here.  It's a sale and that's the bottom line and they're trying to sweep it 
under the rug so to speak and that's the bottom line.  Since they're a 
private company, financial information cannot be disclosed.  I understand 
that; but, one doesn't have to be dishonest in the process.  As for the 
foreign concern, this is what I found out:

"Wafra Investment Advisory Group, Inc., a U.S. registered investment 
adviser, is beneficially owned by The Public Institution for Social Security 
of Kuwait.
The Public Institution for Social Security is an autonomous agency 
controlled by the State of Kuwait.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

Founded in 1985, Wafra is an investment management company offering an 
extensive range of investment services including portfolio securities 
management,
direct equity, real estate and other structured products management. Wafra 
also manages seven alternative investment products and has a private asset 
management
division. Wafra, together with its affiliates, currently has committed and 
under management, assets in excess of $4.0 billion*.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

Originally founded to manage funds in the United States for financial 
institutions of Kuwait and other Gulf states, it has broadened its mission 
and now
serves over 30 institutional and private clients from around the world.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

It has a staff of over 55, including 30 senior-level professionals."
This came from:
http://tinyurl.com/354flc
I must say that a look at Wafra's web site does not inspire confidence. 
It's not what you would call very navigation friendly.  And another thing 
too.  How come all the secrecy.  Seems to me I am beginning to detect a rat. 
yes, it's true that Lee Hamilton promises no changes for us.  He says that 
the company will continue to be known as "Freedom Scientific".  He says it 
will still continue to operate out of St. Petersberg Florida.  Well, that's 
what he says anyhow.  Frankly though, if secrecy is the order of the day, 
those who may be inclined toward a conspiratorial bent will doubtless find 
all kinds of sinister goings on and secret plots behind this.  And what, 
pray tell, are the rest of us who take a calmer approach to do?  Hard to 
tell.  I say give us the facts of the case.  If we have the facts, cooler 
heads will prevail in this matter.  Keep facts from us, and the hotheads who 
harborer conspiracy theories and all manner of unfounded untruths will 
prevail.
    So, having said all that, what's my take on this?  My take is this.  I 
advise keeping as calm as may be and let's wait to see what further facts 
emerge from this present storm.

Sincerely yours,
The Constantly Barefooted,
Ray
Home phone and fax:
(985)853-0139
E-mail:
rforetjr at bellsouth.net
Skype Name:
barefootedray
Blog:
www.raysworld.blogs.com
Podcast .rss Feed:
http://feeds.feedburner.com/worldofray

God bless President George W. Bush!
God bless our troops!
and God bless America

----- Original Message ----- 
From: "kaye zimpher" <kayezimpher at bellsouth.net>
To: "NFB Talk Mailing List" <nfb-talk at nfbnet.org>
Sent: Wednesday, May 16, 2007 10:09 AM
Subject: Re: [nfb-talk] Has Freedom Scientific Been Sold

I too share concerns  about an american being now run by a foreign
government. We do not know how their governemnt views blind people and their
capabilities.
----- Original Message ----- 
From: "Cindy Handel" <cindy425 at verizon.net>
To: "NFB Talk Mailing List" <nfb-talk at nfbnet.org>
Sent: Tuesday, May 15, 2007 5:21 PM
Subject: Re: [nfb-talk] Has Freedom Scientific Been Sold

> There's been discussion on a JAWS email list I'm on.  People have said the
> news release is true.  But, that's all anyone seems to know.  They've said
> that there is no announcement on the FS site.
>
> Cindy
> ----- Original Message ----- 
> From: "David Andrews" <dandrews at visi.com>
> To: <promotion-technology at nfbnet.org>; <blindtlk at nfbnet.org>;
> <gui-talk at nfbnet.org>; <nfbcs at nfbnet.org>; <nabs-l at nfbnet.org>;
> <nfb-talk at nfbnet.org>
> Sent: Tuesday, May 15, 2007 4:49 PM
> Subject: [nfb-talk] Has Freedom Scientific Been Sold
>
>
> Earlier today a trusted friend sent me an e-mail stating that Freedom
> Scientific -- maker of JAWS for Windows, Magic, the Pac Mate, and
> other things, had been purchased by WAFRA Partners, but then the
> announcement was pulled from their web site.
>
> A Google search for Freedom Scientific WAFRA Partners turned up a
> couple hits including the following which appeared in the "Blind
> Confidential" blog today.  Who knows what is exactly going on...
>
> David Andrews
>
> Tuesday, May 15, 2007
> Why the Secrecy?
>
> In the past day, Blind Confidential has received a lot more
> information about the Freedom Scientific acquisition by New York
> based and Kuwaiti owned Wafra
> Investment Group. A lot of the new information also falls into the
> category of hearsay but one particular item, the google cached pages
> from the WAFRA
> containing an announcement of the acquisition seems to add a lot of
> credibility to the rumors.
>
> The following comes from the google cache of the WAFRA web page. The
> announcement, originally posted on April 25 has, without explanation,
> been removed
> from the web site:
>
> Wafra Partners Announces Acquisition of Freedom Scientific, Inc.
> April 25, 2007
>
> Wafra Partners LLC and Wafra Investment Advisory Group, Inc.* are
> pleased to announce the acquisition of Freedom Scientific, Inc.
>
> Freedom Scientific, Inc., based in St. Petersburg, FL, is the leading
> worldwide provider of assistive technology products for those who are
> low vision
> or blind. Assistive technology products make information, whether in
> electronic or print format, and computing accessible to those who are
> low vision or
> blind. The Company's software products include screen reading
> software, screen magnification software and scanning and reading
> software. Hardware products
> include handheld computers, Braille displays, scanning and reading
> machines, video magnifiers and Braille printers.
>
> Wafra Partners LLC is a private equity firm focused on middle market
> companies based in North America that have enterprise values between
> $20 and $150
> million. We are currently seeking acquisitions of companies in
> consumer products, outsourced business services, niche manufacturing,
> and consumer-driven
> services.
>
> * Wafra Investment Advisory Group, Inc. serves as investment advisor
> to the investments referred to herein. Wafra Partners LLC seeks
> companies within the
> parameters and sectors set out above.
>
> Blind Confidential has not contacted any FS employees as I do not
> want to jeopardize any of my old friends professional situations by
> asking them to provide
> information that FS asked them to keep secret. My sources, however,
> have contacted a number of people within FS. Freedom managers seem to
> be saying, "FS
> is a privately held company and ownership information or any
> acquisition details do not need to be disclosed." When asked about
> WAFRA, one FS manager is
> said to have replied, "I don't know anything about that."
>
> Communication with the FS rank and file has resulted in people
> telling BC sources, "we were brought into an 'All Hands' meeting and
> told that the company
> had been sold," but no Freedom personnel is saying to whom the
> company may have been sold and details like the selling price remain
> undisclosed. Some FS
> employees have grumbled that their stock options turned out to be
> worthless but no one seems to know the threshold above which the
> company had to sell
> in order for the employees to make some money on the deal.
>
> I have received a number of phone calls and emails from people
> worried about FS falling into the hands of a Middle Eastern
> government. I do not share these
> worries as I have witnessed the great work done by the Kuwaiti
> government in non-denominational altruistic pursuits around the world
> over they years. While
> not perfect, Kuwait is among the more free nations in the area and
> has been a terrific ally of the US over they years.
>
> So, why the secrecy? Why did WAFRA post the acquisition announcement
> only to pull it down a few days later? Did the deal fall through? If
> so, why haven't
> the employees been told?
>
> It's my opinion that secrecy tends to lead to the worst kind of
> paranoid, conspiracy ridden sort of conjecture that our community, an
> intensely closed
> circle of gossips, nutcases (include me in this group) and people
> with little more to do than guess what the maker of JAWS, the world's
> most important
> product used by blind people, is up to?
>
> All I can say is that I wish FS the greatest possible future no
> matter who owns the business but I must admit that my curiosity has
> been raised by the
> cloak and dagger intrigue surrounding the alleged sale of Freedom.
>
> -- End
>
> posted by BlindChristian at
> 8:09 AM
>
>
>
> David Andrews and white cane Harry.
>
>
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>
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