Michael K. Lorelli
Darien, CT
Office: (203) 655 - 2444
MikLorelli@aol.com


To: Fellow Brain Food Readers Date: April 27th, 2004

From: Mike Lorelli

re: Wall St. Journal "Situations Wanted" ads--Efficacy Analysis

I ran a situations wanted' ad in the Tuesday-Wednesday-Thursday national edition of The WSJ,
April 13th-14th-15th. Here's a summary:

1. One insertion in the Eastern regional costs $617. The Eastern regional is about one-third (833,993) of the total national circulation (1,890,046). I did this largely under the theory that p.e.'s anywhere in the states might have companies in the tri-state area.

2. Three consecutive ads (Tues-Wed-Thurs) in the National circulation costs $1,000 in total total (not a typo; they clearly don't want to be piecing these regional things together). Here's the ad:
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CEO Available
Permanent or Interim
Ten years private equity results
Twenty Years Fortune 100
$25 million revenue - $500 million
(203) 655-2444
MikLorelli@aol.com
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Responses (phone and email) were as follows:
Tuesday: 16
Wednesday: 4
Thursday: 9
Calls after Friday
through the following week: 9
Total Responses 38

Of the 38 responses, 8 (22%) turned into interesting conversations, of which two are turning into face-to-face meetings. Roughly half were start-ups looking for a CEO to perform miracle funding. The last 1/4 were garbage ("I can give you 5% commission on plumbing valves").

My conclusion is that the ads are read largely by entrepreneurial types. The two face-to-face meetings appear to be a quality p.e., and a quality entrepreneur/investor.

Hope this is useful to you.

Best,

Mike
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Mike Lorelli Target Global Fortune 100's: any and all introductions/contacts welcome
Westchester:

Fuji Film

 IBM

Kraft

Philip Morris

MasterCard

Texaco

Connecticut:

 Allied Domecq

Beiersdorf

Diageo

 Duracell

GE

Jet Blue

 Jet Blue

Olin(Arch Chemical)

 Pepperidge Farm

Xerox

Subway

Unilever

Subway

 New Jersey:

 Executive Jet
  Any private equity introductions
  Consulting Firms: Any introductions