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What I don't want to see on jagfn
GenesisIntermedia Gave Commentator $3 Mln in Shares (Update1)
By David Evans
Van Nuys, California, May 23 (Bloomberg) -- GenesisIntermedia Inc. gave shares now worth more than $3 million to a financial commentator who helped send the stock soaring after he recommended it on CNN, CNBC and Bloomberg Television.
Genesis, an operator of Internet kiosks in shopping malls, disclosed the payment of 216,000 shares more than a year after Genesis purchased and closed a Web site developed by the commentator, Courtney Smith.
The disclosure of the payment in an annual report with the Securities and Exchange Commission makes no mention of Smith, a TV stock picker who became one of Genesis' largest outside stockholders when he received the shares. The stake is now worth about $3.7 million.
Genesis routed the shares to Smith through a tiny New York- based vitamin exporting company owned by Angela Chen, a friend of Smith, who played no other role in the transaction.
The so-called 10-K filing with the SEC last month suggests Genesis may have failed to provide shareholders with adequate information on the potential conflicts involving the participants. Genesis didn't respond to requests to answer written questions e- mailed to the company earlier this week.
''If the company hid a payment to an analyst by using a nominee, it could violate'' federal law, said John Coffee, the Aldolf A. Berle law professor at Columbia University Law School. He cited the Foreign Corrupt Practices Act, which requires U.S. companies to maintain honest books and records. ''This looks like deliberately doctoring the books and records of the company,'' he added. ''It shows the need for more disclosure.''
Genesis shares fell 70 cents, or 4.1 percent, to $16.40 in midmorning trading. They had tripled this year.
Smith, the 49-year-old editor of Wall Street Winners newsletter, said in an interview that he still owns the Genesis shares. No currently available public records link Smith to the now-shuttered site, DoWebsites.com. Smith said the stock was payment for the Web site he sold to Genesis on March 29, 2000.
Genesis closed the site and wrote off its purchase price by year-end 2000, according to its SEC filing. Smith recommended Genesis shares at least 18 times on financial TV networks beginning in December, 1999 and continuing as recently as March of this year.
>>-Do the featured companies, in anyway, compensate jagFN?
I am unaware of any company on JAGfn that is 'featured' in any other way that the companies are on CNBC. And to my knowledge, no company compensates JAGfn to be on there. The day somebody shows they do, they are dropped from anything to do with us.
>>-Does jagFN, Marketfusion, iHub or any officers of these companies have any financial interest in any of the companies that they feature?
I can't speak for JAG, as I am not 'inside' that company. MF, IH in no way influences the market coverage by JAG. When you say financial interest by any of us @ MF, I would have to say yes..I do own some stocks they mention on there at various times. Stocks such as AOL, DELL, CSCO, etc.
>>-Will jagFN ever feature OTC:BB companies?
You would have to direct that question to an officer in that company.
MB
Matt,
I have some questions about one of your affiliates...jagFN.
-Do the featured companies, in anyway, compensate jagFN?
-Does jagFN, Marketfusion, iHub or any officers of these companies have any financial interest in any of the companies that they feature?
-Will jagFN ever feature OTC:BB companies?
JXM
This board is open to discuss affiliates of IH.
Views on their content, programming, etc are welcome.
The idea is to provide a forum for people to constructively offer views on the programs.
We will attempt to get company representatives here to answer questions.
MB
One more time
Q: What do people think about watching TV and posting?
A: I personally do not like watching TV and posting especially this type of TV programming.
Q: What do think about the CONTENT of JagFn.
A: I feel that it is overly bullish, shining basically a positive light on the companies. The jagfn content seems like stock promotion to me.
This is again a very civil on topic post.
Let's try this again.
What do people think about watching TV and posting?
What do think about the CONTENT of JagFn.
Kat!
Stay on topic, no questions!
JAGfn content
I watched three shows. I was asked what I thought about the content. I believe the content seemed overly bullish and biased in favor of the companies being talked about. I also see that they will be interviewing a CEO. I will watch that show and see if it seems fair or is biased toward the ceo and his company. I would like to view a disclaimer for their content so I can judge for myself whether it is truly 100% unbiased or not.
Don't ask what people really think of something if you don't want an honest answer. If you only want people to say "ditto, Kat!" then say so.
Please remain civil as I have been here. I am posting completely on topic.
I saw Ihub as a message board community with no big advertising.
I saw this JagFn on the main page and wanted to see what people thought.
Will this site be commercialized and loose it's flavor!
Content can be improved.
Show can be improved.
I feel everyone in the human race is bias INCLUDING your attacks on this thread and me personally.
Stay on topic please!
Kat
Stockaholic, please keep discussions about JAGfn. This is not raging bull nor silicon investor.
Thank you
Out of curiousity
Why are you so curious about what people think of the show? Just asking. Just curious as to your motivation for starting a board about this company.
What do you think about the content? the show? Do you feel they are 100% unbiased?
Never delete proper post, would get that tough guy BOB on my back.
Show is many people and you have created a conspiracy to destroy the world.
Now, I have yet to see any comments on small cap companies, so what is considered Bias....Merrill Lynch raising EPS on Lucent and causing a price swing >>>Because they believe it to be so.
show content
I have now watched three shows. I believe the show content is biased toward the company they are talking about. I haven't seen any negative reviews yet. I also see a CEO interview coming up. I hope it is very fair.
My post was not off topic. Kernaghan just funded this private venture. I feel he may try to influence content becuase of his financial involvement.
Please keep this discussion civil and do not delete my on topic posts.
You should read the disclaimers of every major Brokerage House in the USA...They say the same thing....BUT, keep digging if you think you are onto something BIG!!!
PLEASE, this site is about SHOW content, so let's keep it that way.
Thanks,
Kat
Who cares who is Head of a large company? The CEO of Microsoft (Bill), is not responsible if an employee does something that is not correct.
Making assumptions about this is totally out of line.
Connecting two disctint points with a straight line with no founded evidence is totally not kosher!
So, you believe CNBC is a stock promoter site...How about CBS Marketwatch, ABC News, Barbara Walters....
Kat
Couldn't find disclaimer
I emailed them and will report back. I just saw this.
"Today's research has been obtained from sources believed to be reliable, however, Jagfn.TV cannot attest to the completeness or accuracy of such information. In addition, Jagfn.TV is in no way affiliated with such firms and assumes no responsibility for the substance of the advice and/or recommendations noted above. Questions regarding recommendations should be directed to the appropriate firm and or commentator / analyst."
Great work.
Again, They took JagFn PRIVATE.
They are not publically trading.
Therefore "Buyer Beware" for what is broadcast. I believe they only talk BlueChip.
All I am asking about is the show. Do they have good content, and do they have an honest chance at this on the net.
As for T. Kernaghan, they trade Microsoft also, is that a scam! They are a small time Brokrage firm (According to the Article). What their clients do is not their responsibility.
Kat
Stockaholic, good work. I just wondering one little thing,
Do you always assume the worst in people when you first hear of them?
Going around busting scams is excellent endeavor, but maybe encouraging a start up may be just as appealing.
"I argue very well. Ask any of my remaining friends. I can win an argument on any topic, against any opponent. People know this, and steer clear of me at parties. Often, as a sign of their great respect, they don't even invite me."
-Dave Barry
Kat
But Mabel Johng of JAGfn should be right up your ally, Bernard!
<wink>
MB
LOL Matt, too bad that she's married... EOM
signed,
Bernard
However, CNBC does have Maria Bartiromo...
http://www.cnbc.com/cnbctv/people/mariabartiromo.html
'Nuf said <g>
MB
I love Jagfn. For some reason the picture is much clearer. The analyst are much more knowledgeable and the content is less bias.
Just the opposite of bloomberg and CNBC.
Spam attacks have been so numerous lately that there has been a board created just for the purpose of reporting it!
http://www.investorshub.com/beta/board.asp?board_id=516
The following message came from Matt, with the creation of the new board I have taken the liberty of changing the reporting method.
All Chairs / How Chairmen are to handle Spam
Spam definition - http://www.investorshub.com/beta/Terms.asp
1. Remove the message via Chairman Tools
2. If it's a really bad spammer by looking at his profile, send a note to the SPAM board with a link to his profile:
http://www.investorshub.com/beta/profile.asp?user=2744
http://www.investorshub.com/beta/profile.asp?user=5343
3. They will delete all of his posts @ click of a button.
4. It's important for Chairman to do this, because they are helping the whole community by pointing this out. Don't just say "Hey, keep your spamming to yourself!" Delete that sucker and let the Admin know.
Since you will find this posted on several boards I'll address the issue of me spamming here and now! Yes, I'm spamming against spam, report this to Bob right away!
muel
Folks,
I think this is great to be able to watch live news while reading messages.
I would like to see what others think.
Thanks,
Kat
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