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commercial for a product. We, Broadcast International, broadcast to Seattle or to Boise or
any of the communities in the mountain states by satellite. So that if you're Procter and
Gamble and you want to get your products plugged, you buy that from us--or you buy it from
the grocery store chain--and we then put the programs on from Salt Lake City.
We also were doing television conferencing. I'm trying to remember anything else. Satellite
communications. In-store commercials. Teleconferencing. And, before I retired or stepped
out of the chairmanship, we became involved in check clearances. We had the satellite
technology and the opportunity to use the satellite, so that if you came into a grocery store in
some remote part of the country and you wanted to give a check for your groceries or use a
credit card and you were not known, then through our system they could check immediately
as to whether you were worth the amount of the check.
The check clearance became and is quite a part of the business. So it's check clearance,
teleconferencing, in-store broadcasting and--I think I'm leaving something out--but that's
what Broadcast International is.
Very interesting. Did it bring a good return on the investment? Did the company do
Sure. It's doing well. What we did was to sell out--we went public with the
company, and the AEA Investors could put all of their stock up for sale, or we could sell as
little or none, if you didn't want to sell. I sold half of mine, as I recall, got my money back
and then took the ride with the rest of it--and I think a number of other people did that--but
AEA no longer owns Broadcast International. It's now owned publicly.
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