I wanted to express my deep disappointment regarding the recent headline of your article concerning U.S. Plastic Lumber Corp. (“Debt threatens to bury USPL,” April 8, Page 4).
While you copied various sentences from our 10K report, nowhere in your article did you mention that those results and auditor statements concerned last year's results. Much of the negative information had already been reported in our quarterly reports and certainly wasn't new. Moreover, the truly new news in your article that deserved the headline was neglected.
The most recent news is we are expecting to report a profit in the first quarter of 2002. We expect to have positive cash flow in excess of $2.5 million from operations. There are many people at USPL who have worked extremely hard to put the company back on sound financial footing. The success of that effort was indicated in the information that was released and certainly deserved the emphasis of your headline. The mechanisms to restructure our debt, and take advantage of our improved operating results, are in place and will be concluded shortly.
I would suggest that a more accurate headline would be “USPL reports 2001 loss and announces success of restructuring effort.” While a quickly written headline certainly sounds exciting when adjectives like “bury” are used, it does a disservice to the facts and injures our current ability to do business. At the very least, Plastics News should have contacted someone from our company for updated information.
I look forward to your report on our first-quarter results. I would fully expect equal-sized headlines and placement of that article when compared to your April 8 article.
Mark S. Alsentzer
U.S. Plastic Lumber Corp.
Boca Raton, Fla.