Psychic Friends Network, the much-parodied chat line of the 1990s that had singer Dionne Warwick as its celebrity endorser and later went bankrupt due to bad business decisions, "re-launches" in Newport Beach next week. Mark Lasky, who co-founded the network in 1991 before cashing out and reacquiring its assets post-bankruptcy and trustee lawsuits, is to unveil his new brand and marketing strategy Wednesday at the West Coast Wall Street Investor Conference at the Balboa Bay Club.
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"We feel very confident about the company's future based on our successful track record," Lasky says in a company release, "and the innovative approach we are now taking to expand our customer base."
Will would-be investors have a chance to get a piece of the Psychic Friends Network (PFN, as the hip kids know it) at the conference? You don't need to be swinging crystal balls to answer that one. The new and supposedly improved PFN says it should appeal to suckers, I mean, smart opportunists because it has moved to the Internet, developed a supposedly state-of-the-art phone/billing system and found a younger African American pitch lady: actress Vivica A. Fox.
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On a sad note, original PFN psychic Linda Georgian passed away in May. But, in a nod to the burgeoning Hispanic market, the network has enlisted a new "blonde" psychic. Walter Mercado is to host a series of PFN talk shows in English and Spanish. Check the stars, tea leaves or your local listings.