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PVNC about to fly next week or week after.
cash
Jim Cramer of Mad Money, just said on CNBC that we are going thru DOW 14,000 very soon.
Earlier today we were below DOW 13,000 and NOW we have less than 900 points to go to achieve his target.
Cramer also said that one major Hedge Fund went out of business today due to their large short position on Amazon. He said the official confirming news will come out in a few days.
Cramer said that more short covering is going to propel this market at a steep upward trajectory because there is little supply of shares available to be purchased. DOW and S&P companies have been buying back their shares for over a year. And brokers are no longer willing to put on new short positions at this time. Hence, the shorts must cover now.
What Chamer said all sounds very reasonable to me. So much for "Sell in May and go away".
VV
*SPZI-Press Release Source: Spooz, Inc.
Spooz Announces Reduces Common Stock by 35%
Tuesday March 27, 4:15 pm ET
CHICAGO--(BUSINESS WIRE)--Spooz, Inc. (OTC:SPZI - News) announced that it will be reducing the total number of outstanding common shares of its stock through an exchange of 455,693,448 shares of insider's common stock for 1,000,000 shares of Series B Preferred stock. The reduction will bring Spooz's outstanding common shares to 836,434,357. The exchange will lead to the termination of anti-dilution provisions for insiders while ensuring voting control remains in the insider's hands.
ADVERTISEMENT
"The swap of our common shares for Series B Preferred is a sign of management's long-term belief in and commitment to the company," explains Spooz CEO Paul Strickland. "It effectively prevents liquidation of insider's stock so that we can not sell under rule Rule 144 for the foreseeable future."
About Spooz, Inc.
Spooz, Inc., a publicly traded company based in Chicago, provides a suite of solutions designed to simplify financial trading for traders and hedgers alike. Its flagship product, SpoozToolz(TM) and its modules, add built-in trading capabilities to the popular Microsoft® Excel software application, combining a customizable interface, streaming quotes, charts, technical analysis, a comprehensive historical database, and electronic trade execution into a simple add-in that becomes part of the Excel tool bar.
For more information on Spooz, please visit:
www.Spooz.com
www.spooztoolz.com
www.fractalz3.com
Safe Harbor - NO ASSURANCES CAN BE GIVEN THAT ANY PROJECTIONS WILL BE REALIZED. This press release includes forward-looking statements that involve risks and uncertainties, including, but not limited to, product delivery, the management of growth, market acceptance of certain products and other risks. These forward-looking statements are made in reliance on the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. For further information about these factors that could affect Spooz, Inc. future results, please contact the Company directly. Prospective investors are cautioned that forward-looking statements are not guarantees of performance. Actual results may differ materially from management expectations.
Contact:
Spooz, Inc.:
Darryl Dennis, 312-379-3166
or
Press Contact:
StockBroadcasting.com, 919.827.4261
--------------------------------------------------------------------------------
Source: Spooz, Inc.
what dou you think about BCYR beckers new company
Using internet media to send a message is extremely effective
Youtube in particular!
Use it to send your favorite CEO a message if he isn't
"listening" to your concerns!
i'll have one produced soon! It will be an example of the power of the internet at giving an individual or a group a voice!!!
Watch this very funny videoclip
who ever has some cash, i need a loan
SEC Will Be Investigated in Probe Sought by Senate's Grassley
By Otis Bilodeau, Oct. 26 (Bloomberg)
The U.S. Securities and Exchange Commission, already under scrutiny for its handling of a trading probe that entangled Morgan Stanley Chief Executive Officer John Mack, now faces a broad review by government auditors of its management and methods for policing the financial markets.
The Government Accountability Office agreed last week to investigate the SEC's enforcement division and compliance department after requests by Senator Charles Grassley, an Iowa Republican who questioned whether the agency gave Mack special treatment. Grassley asked the GAO to examine the SEC's ``planning, oversight, control and other management processes' and gauge whether the agency does enough to oversee regulators at the New York Stock Exchange and NASD.
``Based upon allegations I have received over the past few months, I have become increasingly concerned regarding the operations of the SEC, and whether the SEC is faithfully adhering to its mission' to protect investors, Grassley, the chairman of the Senate Finance Committee, wrote in one of two Sept. 19 letters to GAO Comptroller General David Walker.
The review ratchets up the heaviest political pressure the SEC has faced since Christopher Cox, a California Republican, took over as its chairman in August 2005. Grassley's requests target units run by SEC enforcement chief Linda Thomsen and Lori Richards, head of the Office of Compliance, Inspections and Examinations.
Senators including Grassley are concerned that the SEC shielded Mack from a probe of insider trading at Pequot Capital Management Inc., which runs $7 billion in hedge funds. Gary Aguirre, a former SEC investigator, told the Senate Judiciary Committee in June that he was blocked from questioning Mack because of the Morgan Stanley CEO's political clout. New York- based Morgan Stanley is one of Wall Street's two biggest securities firms.
`Coating of Dirt'
The SEC eventually interviewed Mack in July and notified him and Westport, Connecticut-based Pequot earlier this month that it won't pursue a case against them. The SEC repeatedly has denied Aguirre's claims and Mack and Pequot denied any wrongdoing.
``This Aguirre story will leave a coating of dirt unless it is probed and washed away,' said Edward Fleischman, a former SEC commissioner now in private practice at Linklaters in New York. ``It will benefit us all, and it will ultimately benefit the SEC, to have the GAO go through all of this as an outside observer.'
Thomsen declined to comment. Walter Ricciardi, a deputy enforcement director at the SEC, said the agency has no objection to the GAO inquiry.
``We welcome the review and look forward to any recommendations that might follow,' Ricciardi said in an interview.
Donaldson Appointee
Thomsen is the only division director at the SEC not appointed by Cox. She was promoted in May 2005 by Cox's predecessor, William Donaldson, after then-Enforcement Director Stephen Cutler returned to private practice.
Cox said Oct. 18 that members of Congress have ``legitimate concerns and I share those concerns' when asked about Aguirre's allegations.
Grassley asked the GAO, Congress's investigative arm, to report its findings by June. The GAO said in an Oct. 16 letter to Grassley that it ``accepts these requests as work that is within the scope of its authority.'
The inner workings of the SEC's enforcement division are rarely exposed to public view. As a matter of policy, the agency doesn't say when it opens or closes investigations and officials won't discuss their progress in building a case.
NYSE, NASD Oversight
Grassley asked the GAO to assess how the SEC tracks investigations, the amount of time the agency takes to complete them and its ``reported success rate.' He also requested that the auditors determine how many referrals of potentially illegal trading activity from U.S. exchanges ``actually become part of a regulatory action.'
SEC enforcers rely on the self-regulatory organizations, or SROs, that police the exchanges, including NYSE Regulation and the NASD, to report signs of suspicious trading for further investigation.
The SEC must ``detect and deter potential abuses of SRO authority arising from inherent conflicts of interest,' Grassley wrote to the GAO. ``How does the SEC ensure that the SROs vigorously oversee their own members?'
An analysis of stock-trading data by Toronto-based Measuredmarkets Inc. showed in August there may have been insider trading in advance of 41 percent of the largest U.S. takeover announcements in the preceding year. Derivatives traders also made perfectly timed bets before public announcements of recent deals such as the $33 billion leveraged buyout of hospital operator HCA Inc.
Hedge Funds
About 20 percent of the new investigations opened at the SEC in the past year focused on insider trading and slightly less than half of those probes led to enforcement cases, according to Ricciardi.
``We often see suspicious trading, but in some cases it's hard to find the evidence,' he said in an Aug. 27 interview.
Cox said Oct. 18 that the SEC is ramping up its scrutiny of potential insider trading by hedge funds ahead of company mergers. Thomsen, the enforcement chief, told Congress last month that cases of insider trading by hedge funds have become a ``significant concern.' Hedge funds are private pools of capital that allow managers to participate substantially in the gains they make for investors.
To contact the reporter on this story: Otis Bilodeau in Washington at obilodeau@bloomberg.net .
http://www.bloomberg.com/apps/news?pid=20601087&sid=agIPbaUyAYFk&refer=home
VV
October 23, 2006
FORMER COMPANY EXECUTIVE PLEADS GUILTY TO $956 MILLION SECURITIES FRAUD SCHEME
R. Alexander Acosta, United States Attorney for the Southern District of Florida, and Jonathan I. Solomon, Special Agent in Charge, Federal Bureau of Investigation (“FBI”), announced today that defendant Peter Lombardi, a founding partner and sole shareholder of Mutual Benefits Corp. (“MBC”), pled guilty to a widespread securities fraud scheme, in which more than 28,000 investors have lost approximately $956 million. The defendant was charged by Information with securities fraud, in violation of 15 U.S.C. §§ 78j(b) and 78ff(a), 17 C.F.R. § 240.10b-5, and 18 U.S.C. § 2.
At sentencing, Lombardi faces a statutory maximum prison sentence of 20 years and a fine of up to $5 million. As part of his plea, Lombardi has agreed to be responsible for $956 million in restitution to the investors who were victims of this fraud.
According to the Information and statements made today in court proceedings, from October 1994 through approximately May 2004, Lombardi and principals of MBC, a business principally located in the Southern District of Florida, orchestrated the fraudulent sale of investment interests in insurance policies called viatical and life settlements to the general public, resulting in approximately $956 million of losses to 28,000 investors worldwide.
A viatical settlement is a transaction in which a terminally ill person sells the death benefit of his or her life insurance policy to a third party in return for a lump-sum cash payment, which is a discounted percentage of the policy’s face value. A life settlement is a transaction which is identical to a viatical settlement, except the seller of the insurance death benefit is not terminal, but instead is a senior citizen. In the sale of viatical or life settlements, an investor would realize a profit if, when the insured dies and the policy matures, the policy benefit is more than the price paid for policy. Any profit realized would be decreased by additional out-of-pocket costs, such as premium payments.
As charged in the Information, Lombardi and other MBC principals directed an international network of sales agents and marketing directors who fraudulently induced investors to purchase interests in the viatical and life settlements through a series of misrepresentations concerning the safety and security of the investments.
For example, MBC’s investors were falsely assured that the majority of viatical and life settlements sold by MBC matured within the life expectancy assigned by MBC. As a result, MBC promised investors returns as much 72% on their investment. In reality, most investors have never realized any profit and have not been able to get their investment back, since approximately 80% of the viatical and life settlements sold by MBC never matured, and only about 5% matured within the MBC predicted life expectancy.
MBC also misled investors by promising to escrow enough money to pay for anticipated insurance premiums during the life expectancy of the insured. To sustain the insurance policies as viable investments, sufficient monies need to be set aside to pay expected premiums. However, given the fraudulently low life expectancies assigned by MBC, and the repeated failure of the policies to mature, the amount of funds escrowed to pay the premium costs was insufficient.
To compensate for the insufficient premium reserves, Lombardi and the other MBC principals pooled the premium funds held in accounts to create an unsustainable “Ponzi” scheme. MBC used premium monies obtained from recently sold viatical and life settlements to pay premium obligations on older policies that failed to mature within the represented life expectancy.
The investing public was also misled about the identity of MBC’s management. While Lombardi was installed by his accomplices as the titular President of MBC, the true controlling principal of MBC was an individual who had been previously convicted of federal mail and wire fraud, and two principals were enjoined by a United States District Court from committing further violations of the anti-fraud provisions of the federal securities laws. As also alleged in the Information, MBC principals misappropriated investor funds for their own use.
United States Attorney Alex Acosta stated, “Honesty and integrity in business are essential for a strong America. Investors and retirees deserve nothing less. Criminal acts of corporate and securities fraud must be answered with criminal prosecutions. That is precisely what we have done today, and that is precisely what we will continue to do, working with our colleagues at the FBI and the SEC.”
FBI Special Agent in Charge Solomon stated, “Peter Lombardi and other MBC executives preyed on investors’ compassion for others while they sought only personal gain. Securities fraud cases have an impact on so many people, and in this case, the effects were felt worldwide. The FBI is resolute that securities fraud cases will remain a top priority in our white collar crime program.
Mr. Acosta commended the investigative efforts of the FBI and the Southeast Regional Office of the Securities and Exchange Commission. The matter is being handled by Assistant United States Attorney Andrew K. Levi and Special Assistant United States Attorney Ryan Dwight O’Quinn.
Attachments:
Information (PDF)
Plea Agreement (PDF)
A copy of this press release may be found on the website of the United States Attorney's Office for the Southern District of Florida at http://www.usdoj.gov/usao/fls. Related court documents and information may be found on the website of the District Court for the Southern District of Florida at http://www.flsd.uscourts.gov or on http://pacer.flsd.uscourts.gov.
FBI Home Page
Miami Home Page Miami Press Releases
http://www.investorshub.com/boards/board.asp?board_id=791
Found this older board while searching IHUB boards that might help with understanding federal laws as they relate to publically traded companies.
Probably, tons of boards here at IHUB that have information I am wasting my time looking for. Problem is finding the boards to find the information. And, one other problem---is the information about the rules current?
Sam
Once it happened, that the Pope went to the U.S.
He had always wanted to drive a limousine, you know, the stretch limo. As the chauffer was driving through the city, the Pope started to get excited for he had never driven any kind of car such as this. He told the chauffer, "I would like to drive." How could the chauffer say no to the pope? He said. "Okay." So the Pope took the wheel and the chauffer took the back seat. The Pope started enjoying the car and pressing the gas more, more, and more. He was hitting ninety or one hundred miles per hour. He did not realize the speed he was going at, and the Ohio police are terrible. He was zooming and he had the flashing lights behind him. So he pulled to the side. The cop got out, and carefully, with his hand on his gun, slowly approached the car. It was the Pope himself driving! He looked in the backseat and somebody was sitting there. Then, he said, "Wait." He went back to his car, took out the radio and called the chief. He said to the chief, "i've got a huge fish."
"Oh come on. Who is it?
Is Ted Kennedy in trouble again?"
Is it Chelsea driving drunk
"Oh no, somebody much bigger."
Is it the President himself" begged the Chief.
The officer replied.
"I don't know who it is but he's got the Pope as his Chauffeur!"
RNKE Charged- charges filed December 22, 2005 judgement
on Litigation Release No. 19873 / October 17, 2006
U.S. SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C.
Securities And Exchange Commission v. Roanoke Technology Corp.
SEC Files Fraud Charges Against Roanoke Technology Corp. and its President for Sham S-8 Scheme
The Securities and Exchange Commission (SEC) announced that on December 21, 2005, it filed a complaint in federal district court in Orlando, Florida against Roanoke Technology Corp. (Roanoke), based in Rocky Mount, North Carolina, David L. Smith, Jr., Roanoke's chairman, chief executive officer and president and a resident of Roanoke Rapids, North Carolina, Thomas L. Bojadzijev of Orlando, Florida, and Barrett R. Clark of San Diego, California. The complaint alleges that the defendants participated in a scheme to illegally raise money for themselves by using Form S-8 registration statements. The complaint also names Sussex Avenue Partners LLC (Sussex) of Carlsbad, California as a relief defendant.
According to the complaint, from 2003 through October 2004, Smith had Roanoke issue over one billion shares, pursuant to several Form S-8 registration statements, to Bojadzijev and Clark, purportedly to compensate them for services provided to Roanoke. The complaint alleges that Bojadzijev and Clark raised over $7 million in liquidating these shares and funneled over $4 million to Smith, who used the funds for his own personal spending. Form S-8 registration statements permit the issuance of stock to consultants in certain circumstances to compensate them for legitimate services rendered. S-8 stock, however, cannot be used by the issuer, such as Roanoke, to raise capital for its control persons. The complaint also alleges that Smith caused Roanoke to issue a series of false and misleading press releases while Bojadzijev was selling stock into the market.
Initial SEC complaint 2004-Judgement rendered 2006
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 19874 / October 17, 2006
SEC v. George Carapella and Alan S. Lipstein, Case No. 8:04-CV-01858-T-23MSS (M.D.Fla.)
Final Judgments of Permanent Injunction and Other Relief Entered Against Defendants George Carapella and Alan S. Lipstein
The Securities and Exchange Commission ("Commission") announced that on September 8, 2006, entered Final Judgments against Defendants George Carapella ("Carapella") and Alan S. Lipstein ("Lipstein"), respectively. The Final Judgments, entered with the consent of Carapella and Lipstein, permanently bar them from participating in a penny stock offering, and order them to pay civil penalties of $15,000 each.
The SEC commenced this action by filing its complaint against Carapella and Lipstein on August 27, 2004, alleging the defendants illegally participated in penny stock offerings and committed securities fraud in violation of prior injunctions and Commission orders barring them from such activities.
For additional information, see Litigation Release No. 18859 (August 17, 2004).
Reported by Southern Poverty Law Center:
(wonder if north, east or west have poverty law centers, surely
there's poverty in those directions too? <scratching head>
Anyway,
The following report suggests the difficulty branches of our military services are having
with recruiting new meat.
hmmmmm,
Reeeaaaly?
Fortunately, our administration has promised not to impose the draft and in order to maintain numbers of recruits,
they're lowering the long standing
standards for entry into military service.
"In an alarming report we released in July, our Intelligence Project discovered that the pressure of meeting wartime manpower goals has led military officials to relax standards designed to weed out radical racists.
Here is what one military investigator told us: "Recruiters are knowingly allowing neo-Nazis and white supremacists to join the armed forces, and commanders don't remove them from the military even after we positively identify them as extremists or gang members." He went on to say, "We've got Aryan Nations graffiti in Baghdad. That's a problem."
Personally, sounds ok to me.
I can't
find a problem with it.
Seems like a fine place for these fellows.
Bootcamp followed by a stint overseas
in a hostile environment!---
hell, sounds
like a match made in heaven!
It once happened that an old farmer had a wife who nagged him unmercifully from morning till night and sometimes even later. She was always complaining about something. The only time he got relief was when he was out plowing with his old mule; and he tried to plow a lot! One day, when he was out plowing, his wife brought his lunch to the field. He drove the old mule into the shade, sat down on a stump and began to eat his lunch. Immediately, his wife began nagging him again. The nagging just went on and on. All of a sudden, the old mule lashed out with both his hind feet, caught her smack in the back of the head nd killed her dead on the spot.
At the funeral, the minister noticed something rather odd. When a woman mourner would approach the old farmer, he would listen for a minute and then nod his head in agreement. When a man mourner approached him, he would listen for a minute and then shake his head in disagreement. This was so consistent that the minister decided to ask the old farmer about it. So after the funeral, he came up to him and asked the farmer why he nodded his head and agreed with the women, but always shook his head and disagreed with the men. The old farmer said, "Well, the women would come up and say something about how nice my wife looked, or how pretty her dress was, so I nodded in agreement." "And what about the men" the minister asked. "They wanted to know if the mule was for sale."
Interesting events occurring this week:
Fact: Wednesday, Senator John McCain states "IF the democrats win in November, I'll commit suicide."
(I wonder how long before he realized saying that in public might have been a tad off the wall! Was it immediate, and ,he
gulped and says to himself
oops
or was it when Howard Deans name and phone number flashed on McCains cell phone caller ID?
Rumor: KIm GON ILL has added another half inch to his already 3 inch platform shoes. It's said he's posturing taller lately. I believe that makes his height 5'6" now if i'm not mistaken.
FACT: American war ships are, as I write, roaring their way to anchor as close to IRAN as interntion maritime law allows. Estimated time of arrival is Sunday.
Rumor: Bush and company ordered a 2 month supply of hostess twinkies and "the Green Hornet" comics books be sent to an undisclosed location. Also, leaked from the White House, that
President Bush has ordered nuclear subs call upon
Mr. Limpet to aid in peace talks.
FACT: I more than likely won't make a penny today so I will soon have to get a real job!
Sams
I WISH!!
Census bureau based on stats predicted a boy! it's a lttle girl.
is it yours?
Baby is Here
and both mom and baby girl are doing fine!
America's population has hit 300 million people. According to government calculations, the country passed the 300-million mark at 7:46 a.m. ET. The U.S. is only the third country in the world to surpass that number. Yailin Melissa Turcios is born.
Sams
According to the census bureau, there's a birth every 7 sec, a death every 13 secs.
Census bureau projections are not exact science but based on statistics. It's 6:58, I wonder if the 300thmillion baby is here yet. The 200th million baby was a male child born in 1967, is a Harvard Grad and currently lives in Atlanta.
Found that interesting this morning.
There was one more statistic mentioned besides the birth and death statistics.
it was a statistic about immigrants.
Dont recall whether it was:
every 31 secs an immigrant becomes a U.S. citizen
or
every 31 secs an immigrant enters the country illegally.
I wondered why they chose that! Did it have something to do with the child possibly being a child of an illegal immigrant? I'll post back here when....
Sams
The 300th million baby to be born in the United States expected at 6:46, caucasion child, no sex was indicated.
Sams
October 16, 2006 · Former FDA chief Lester Crawford will plead guilty to two misdemeanors for failing to disclose a financial interest in companies his agency regulated, according to his lawyer.
The Justice Department accused the former head of the Food and Drug Administration with falsely reporting that he had sold stock in companies governed by FDA rules when, in fact, he continued to hold shares in the firms.
Crawford was commissioner or acting commissioner of the FDA from March 2004 to September 2005, when he stepped down. He wasn't supposed to own stock in companies regulated by the agency. And he had to file annual conflict-of-interest statements.
PepsiCo, snack-food maker Sysco and veterinary biotech company Embrex are among the companies whose stock Crawford held even after he told ethics enforcers that he had sold his shares.
In an appearance before a U.S. magistrate scheduled for Tuesday, Crawford reportedly will plead guilty to two misdemeanors that each could bring him up to a year in prison.
October 14, 2006
Over the weekend, millions of Americans faced the new ban of online gambling.
The legislation was attached by Rep. Bill Frist to the Port Security bill.
Many of the public companies that offer online gambling have been quick to react and give their outlooks on the legislature. Party Gaming and 888 among others have said that they will shut down all U.S. operations if President Bush signs the bill into law. This sent online gambling stocks tumbling with Party Gaming leading the way with a 55% decrease in market value.
The people involved are awaiting to see what happens over the next few weeks.
[edit]
Statements
Icy-White Precious Metal Makes Debut
Tuesday August 15, 4:54 pm ET
Jewelry designer Caesar Azzam one of the first to design with Palladium
PITTSBURGH, Aug. 15 /PRNewswire/ -- The hottest member of the platinum metal family is making its social debut -- and Pittsburgh-based jewelry designer Caesar Azzam is one of the first to develop designs with the up-and- coming metal. Palladium, an icy white precious metal, is poised to grow in popularity with fine jewelry design because it looks like platinum, but is a third of the cost and half the density.
(Photo: http://www.newscom.com/cgi-bin/prnh/20060815/CLTU070)
Noted by some as "the new platinum," palladium is becoming extremely popular with the most innovative jewelry designers.
"Palladium's workability and low density make it an ideal metal to create modern, oversized pieces that won't weigh down the wearer," said Caesar Azzam, owner of design studio Caesar's Designs. "Palladium is also perfect for creating engagement and wedding bands because unlike white gold, it doesn't require plating -- so there's no risk of the bright white color fading over the years."
When palladium first hit the jewelry scene, Caesar tested the metal's appeal by creating a few pieces for his showroom. His clientele immediately adored this new option in jewelry design. Caesar now uses palladium to create pieces for his most popular collections: the Oversized Collection of big, bold, sparkly gemstone rings and Butter, which features an incredibly smooth and comfortable contour fit -- so it feels like butter. Caesar also creates custom bridal sets in palladium. To view the collections, visit http://www.caesarsdesigns.com/collections.php.
In June, Caesar showed off some of his newest palladium pieces created in response to his invitation to the JCK Show in Las Vegas -- one of the largest jewelry shows in the nation. He was one of the 150 jewelry designers chosen by a jury of industry professionals to showcase work in the prestigious Design Center area of the exhibition hall.
Already coveted in Pittsburgh, Caesar's Designs has gained more national attention in recent months, as seen in publications such as W Magazine, W Jewelry, National Jeweler and worn by Kirstie Alley on the cover of Ladies' Home Journal.
Established in 1998 and based in Pittsburgh, PA, Caesar's Design creates contemporary jewelry with a sleek presentation, exquisite style and an enchanting feel.
Available Topic Expert(s): For information on the listed expert(s), click
appropriate link.
Caesar Azzam
http://profnet.prnewswire.com/ud_public.jsp?userid=10031869
--------------------------------------------------------------------------------
Source: Caesar's Designs
I hear ya..
Agree, however..
JMO but the The Leonards might concider using that $1,661
to investigate the judge in this case.
I think it has alot to do with the particular insurance
companies too..by that I mean..
we had a tornado in my area in '93...
most people who had Farm Bureau insurance were getting equitable settlement checks in literally a day or two..
State Farm, Allstate etc...well it took them weeks..
months in some cases..geesh..
No kidding Dave, this caught my eye...The Leonards had estimated the total damage to their home at $130,253. They said $47,365 in damage was caused by wind. Nationwide paid only $1,661, blaming the remainder on the storm surge.
probably paid that at least yearly for the insurance coverage to begin with.
Rager..ha..I kinda figured the insurance companies would
get out of paying....
they don't have the fanciest tallest
buildings in town for nothing..
I've got fire damage on my house..
I'd better read the small print and see if 'heat' is excluded somewhere..LOL..
WOW...Judge Rules Policy Excluded Flood Damage
Tuesday August 15, 5:59 pm ET
By Michael Kunzelman, Associated Press Writer
Judge Rules Nationwide Policy Excluded Flood Damage From Hurricane Katrina
GULFPORT, Miss. (AP) -- A federal judge ruled Tuesday that an insurance company's policies do not cover damage from flood waters or storm surge in a decision that could affect hundreds of upcoming cases related to property damage from Hurricane Katrina.
U.S. District Judge L.T. Senter Jr. ruled that a Mississippi Gulf Coast couple cannot collect damages from storm surge caused by Katrina because Nationwide Mutual Insurance Co.'s policies do not cover wind-driven water damage.
Senter said Paul and Julie Leonard of Pascagoula could be compensated for damage that they could prove was caused by high winds, however.
"Almost all the damage to the Leonard residence is attributable to the incursion of water," Senter wrote in the 13-page decision.
Senter's ruling could set a precedent for hundreds of other court challenges to the insurance industry for denying billions of dollars in claims after the Aug. 29 hurricane ravaged the coasts of Louisiana and Mississippi.
Although Senter ruled that Nationwide's policies do not cover damage from storm surge, the judge also concluded a key policy provision the company has used to deny coverage is ambiguous.
Nationwide and other insurers say their homeowners policies cover damage from a hurricane's wind, but not in cases where it resulted from a combination of wind and water.
"This reading of the policy would mean that an insured whose dwelling lost its roof in high winds and at the same time suffered an incursion of even an inch of water could recover nothing under his Nationwide policy," he wrote.
"From our perspective, it lifts a very large cloud of uncertainty that has been hanging over the insurance market of the Gulf Coast," Joseph Annotti, spokesman for the Property Casualty Insurers Association of America, said in reaction to the ruling. "A healthy insurance market is absolutely key to a rejuvenated economy down there."
Shares of most property and casualty insurers rose following the ruling, amid a generally surging stock market.
American International Group Inc. shares added 73 cents to $62.43. Allstate Corp. shares gained 80 cents to $57.22, St. Paul Travelers Cos. shares rose 93 cents, or 2.1 percent, to $44.02, and Hartford Financial Services Group Inc. shares jumped $1.01 to $82.49, all on the New York Stock Exchange.
"It's a favorable first decision for the industry," said Fox-Pitt Kelton analyst Gary Ransom. "I never really had much doubt that this was the way it was going to work out. There's a lot of precedent for this. It's not like we're interpreting these contracts for the first time."
The Leonards had estimated the total damage to their home at $130,253. They said $47,365 in damage was caused by wind. Nationwide paid only $1,661, blaming the remainder on the storm surge.
The couple's attorneys had asked for more than $158,000 for the damage to the house and its contents, plus interest and attorneys' fees and expenses. Senter, however, ruled that Nationwide only owed the Leonards about $1,228 more than what the company already has paid them for wind damage.
Both sides claimed victory in the wake of Senter's ruling.
"The Leonards did not win as much money as I hoped they would have, but they won this case," said one of their attorneys, Richard "Dickie" Scruggs. "It's always great to get a win in the first game of the season, whether it's by one point or 30 points."
Paul Leonard, a police lieutenant, acknowledged that an extra $1,228 only covers a fraction of the repair costs for his home, but he also considered Senter's ruling a victory.
"I believe anybody in a civil trial asks for the moon and is able to live with what they get," he said.
Nationwide spokesman Joe Case said the company is pleased that Senter upheld the terms of the flood exclusion language in its policies.
"While it is unfortunate that the Leonards did not choose to purchase flood insurance, insurance carriers have an obligation on behalf of all policyholders to adjust claims based on factual evidence that supports coverage payments," Case said in a prepared statement.
The Leonards claimed a Nationwide agent, Jay Fletcher, told them they didn't need flood insurance.
Senter rejected the Leonards' claim that the agent's alleged assurances make Nationwide liable for damage from both wind and water. Paul Leonard mistakenly inferred that his policy covered water damage, the judge ruled.
"Fletcher did not materially misrepresent the terms of the Nationwide homeowners policy to the Leonards, and Fletcher did not make any statements which could be reasonably understood to alter the terms of the Nationwide policy," Senter wrote.
The couple's lawsuit was the first among hundreds of Katrina insurance cases to be tried since the storm slammed into the Gulf Coast nearly a year ago, demolishing tens of thousands of homes.
Senter presided over an eight-day trial without a jury last month. He is hearing virtually all the Katrina insurance cases in Mississippi, so his ruling will be scrutinized by thousands of Gulf Coast homeowners as well as the nation's top insurers.
High Dive, Franklin - in Potosi -
since all streets were paved by Silver -
removed - to make Spain - Paris - London -
the Rich - the Potosi, Inca natives -
protected the most Precious -
to them -
a short snipped reflexion of -
the Cerro Rico fabulous -
Richness can still be seen -
the history - still alive -
often repeat itself -
Franklin Mining, Inc. (OTC: FMNJ) -
http://www.franklinmining.com/Projects/FranklinMines/tabid/1324/Default.aspx
Do not let any volatility shake You out -
the more volatility the higher it will go -
the new trend waves will often be -
162% of the previous correction -
when the weak hands exhaust themselves -
we'll see the next waves up -
U.S. NATIONAL DEBT CLOCK
The Outstanding Public Debt -
as of Jun 2006:
Unless the United States gets all of its economic
house in order ? -
Gold will become the basic real money again -
(which Gold has been for 1000's of years)
and national currencies will only be money -
if backed by - Gold.
With the exception only of the periods of -
- The Great Gold Standard -
practically all governments of history -
have used their exclusive power to issue fiat money -
to defraud with totalitarian bureaucratic powers -
rob, plunder and to make slaves -
of most the people -
http://www.goldrush21.com/
http://www.usaidbolivia.org.bo/
FMNJ - got the worlds richest Silver Mine -
You finding more FMNJ info on the link below -
http://www.investorshub.com/boards/board.asp?board_id=5406
http://news.bbc.co.uk/2/hi/business/5115920.stm
Always make sure to do your own
DD -- don't listen to my dd ---
http://www.franklinmining.com/Home/tabid/1215/Default.aspx
Imo. Thanks
for your participations -
Brgds
Bob
In God We Trust
Website is Musicrypt.com
----------
Latest press release-
Musicrypt hits play button for DMDS Mac version
2006-01-05 07:17 ET - News Release
Mr. Wojtek Hoch reports
MUSICRYPT TO LAUNCH MAC VERSION OF DMDS
Musicrypt Inc. will launch a Mac version of its patented digital media distribution system (DMDS) in the first quarter of 2006. The Mac version will expand and broaden the customer base for DMDS to include recording studios, postproduction labs, music publishers, advertising creative studios, and allow content owners to deliver files securely and directly to Apple iTunes.
"Seamless integration with the Apple iPod and Mac computers will enable us to service many new and important markets," said Wojtek Hoch, Musicrypt's vice-president, technology. "Users will be able to download any song delivered by DMDS straight to their iPods with one click. Mac users have long been in the forefront in the creativity community, and we are excited to be able to provide our industry leading services to them."
Musicrypt's DMDS has delivered over 2,900 songs to over two million destinations.
We seek Safe Harbor.
News from Planet Armageddon (u been warned)
http://www.lemetropolecafe.com/
The Man Ray Table
Asia
Topic du Jour
When Smart Bombs Pop over Tehran, Gold will Pop to over $1000/oz
A melt down is on the near horizon, far exceeding that of Chernobyl Ukraine, but this time, will be intentionally done, probably by summer, and Gold will pop to over $1000/oz, virtually over night, and maybe to $1500/oz. With moderate-of-late Sharon out of the political picture with a stroke, it will be difficult for Perez to hold the middle ground in Israel's politics to secure a centrist political party victory supporting Palestinian statehood and unilateral withdraw and moderation, as the Likud party chief, and former Prime Minister, Benjamin Netanyahu resurfaces from the shadow's of the parting Sharon. It wont take long either after the March Israeli election.
Netanyahu wont mess around with Iran by begging for useless endless negotiations as are the EU-3 presently doing with Iran. Israel is relatively immune to Iran's threaten oil price increases, and will strike from the get go. Israel already has a massive stock pile of 2000 bunkerbusters and has a vast array of anti-missile batteries to counter the Salaam III 1500-mile range Iranian missiles. It wont matter what Iran says, truth or not, Israel will defend itself from being "wiped off the map". The Israeli knows that a vote for Deputy Prime Minister Ehud Olmer, Sharon's present 2nd, now tainted with the middle of the road tact, is too dangerous, in the presence of being threaten to be "wiped off the map", as the Iranian President has recently proposed. With Israel in fear of growing threats and extinction from Iran, Israelis will fall back on the old warrior, Netanyahu, as a necessary vote to defang Iran and preserve Israel.
Based on history, Netanyahu will act and act quickly, before summer. With multiple wars, oil supply uncertainty, vast fiat money printing, and global moves by central banks to buy gold in a supply deficit market, it is a no-brainer where gold will go this year. Gold will be in the four digits by July 4th, but initiated with a more impressive fire work show than that ever seen in a USA ballpark. The hard line Likud chief, Benjamin Netanyahune, will move as the bold man he is. Is there really any choice? Is there really any doubt?
The big surprise this day was the lack of a big gold move to the upside. The Gold Cartel must have been in play big time this day, or no one has their eyes open. This may be the cause of staggering open interest driving force in today's action. An ominous indicator may be, of course, the acquisition of jet fighter airborne tankers for the roundabout trip around Arabia, to Tehran. However, I see that as a military ruse, as Israel will directly violate Jordanian and Iraqi airspace, while faking delay to get the tankers, and will go for the jugular, hitting missile batteries and nuke facilities in a massive week long strike.
The USA will be out of this one, ostensibly, having its hands full in Iraq, but would love to hear an end to the "Death to America" screams, as the USA covertly supplies Israel with logistic support. Bush has been waiting a long time for Iraq to stabilize before taking action against Iran, knowing full well, the EU-3 would fail, especially after Iran rebuffed Russia's deal to process nuke material in Russia. Sharon's parting now trumped that delay, and Netanyahune will strike. What other choice does Netanyahune really have? NONE!!!
Derrick Michael Reid
Laguna Beach CA
Derrick Michael Reid, ESQ: DOB 6-30-54 Ohio, and 50 years living in Southern California, a hard-right Ronald Reagan type. Electronic Engineer BSEE University of California Berkeley, 1975, with 10 years experience for various high-tech electronic firms, Graduate Studies in Semiconductors at USC, and Patent Lawyer, JD, Western State University 1981, with 25 years of sole practice including litigation and patent prosecution, mostly high-tech satellite communication systems at federal research labs. Presently also engaged in setting up Web based gaming in Russia with a Russian wife and two wonderful little boys having dual residences in both Laguna Beach CA and Vladivostok Russia, and routinely privately writing to Bush and Putin on courses of action as interested in global affairs.
Copyright 1999 - 2005 Le Metropole Cafe. All rights reserved.
oops, i put these posts on wrong bean board
12/31/2005 #msg-9072240
THE END OF [Canadian] INNOCENCE
Date:12/28/2005 #msg-9026200
ALERT Surfers Fear Global Board Shortage
Date:12/12/2005 #msg-8834035
confirmed to us the other day... one Fed bank
Date:12/2/2005 #msg-8712451
Interactions: Ocean Currents and Climate Change
Have an after life eperience with a stock that just didn't "trade right"
and you want to warn your friends, or entice them others of your experience?
Post it here #board-4906 with the ticker and explain what happened.
DON'T JUMP and be scooped up as GLOP ingredience.
:o)
Cash pours in for student with $1 million Web idea
Thu Dec 29, 2005 1:49 PM ET
By Peter Graff
LONDON (Reuters) - If you have an envious streak, you probably shouldn't read this.
Because chances are, Alex Tew, a 21-year-old student from a small town in England, is cleverer than you. And he is proving it by earning a cool million dollars in four months on the Internet.
Selling porn? Dealing prescription drugs? Nope. All he sells are pixels, the tiny dots on the screen that appear when you call up his home page.
He had the brainstorm for his million dollar home page, called, logically enough, www.milliondollarhomepage.com, while lying in bed thinking out how he would pay for university.
The idea: turn his home page into a billboard made up of a million dots, and sell them for a dollar a dot to anyone who wants to put up their logo. A 10 by 10 dot square, roughly the size of a letter of type, costs $100.
He sold a few to his brothers and some friends, and when he had made $1,000, he issued a press release.
That was picked up by the news media, spread around the Internet, and soon advertisers for everything from dating sites to casinos to real estate agents to The Times of London were putting up real cash for pixels, with links to their own sites.
So far they have bought up 911,800 pixels. Tew's home page now looks like an online Times Square, festooned with a multi-colored confetti of ads.
"All the money's kind of sitting in a bank account," Tew told Reuters from his home in Wiltshire, southwest England. "I've treated myself to a car. I've only just passed my driving test so I've bought myself a little black mini."
The site features testimonials from advertisers, some of whom bought spots as a lark, only to discover that they were receiving actual valuable Web hits for a fraction of the cost of traditional Internet advertising.
Meanwhile Tew has had to juggle running the site with his first term at university, where he is studying business. Continued ...
"It's been quite a difficulty trying to balance going to lectures and doing the site," he said.
But he may not have to study for long. Job offers have been coming in from Internet companies impressed by a young man who managed to figure out an original way to make money online.
"I didn't expect it to happen like that," Tew said. "To have the job offers and approaches from investors -- the whole thing is kind of surreal. I'm still in a state of disbelief."
© Reuters 2005. All Rights Reserved.
24 Hour Gold Chart - overlays 3 days if needed
http://kitco.com/charts/popup/au24hr3day.html
for example,
4 a.m. e.s.t. Tuesday 22 Nov 2005
... wait'n for $500
oops, forgot the "fallen off turnip truck" farmer
a.k.a. #msg-411469
Poop on The Rooster that Crows Up a Golden Sun
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
First you gotta ask yourself where you get da Straight Poop from!
a dog that smokes it?
Capt Nemo?
Rager's Page of Rage?
a.k.a. GATA #reply-21903124
D:oug
Ineligibility for Repeat Untimely Filers Proposal Published in the Federal Register
Summary
The proposal previously announced on May 16, 2005 has been published in the Federal Register.
The proposed rule amendment is anticipated to be effective for filings with periods ending on or after October 1, 2005.
Contact information
Background
As announced in an OTCBB.com General News Item on May 16, 2005, NASDAQ® filed a proposal with the Securities and Exchange Commission (SEC) to amend NASD Rule 6530 (the “Eligibility Rule”). The proposal has been published in the Federal Register and comments are due by September 14, 2005.
The Eligibility Rule already requires OTC Bulletin Board® (OTCBB) issuers to file timely periodic financial reports. The proposed change would make those OTCBB issuers that are cited for filing delinquency three times in a 24-month period and those OTCBB issuers removed for failure to file two times in a 24-month period ineligible for quotation on the OTCBB for a period of one year. This change was proposed to help further the original goal of the Eligibility Rule, which is to protect the public interest by ensuring that timely financial information is routinely available to investors.
As proposed, the new rule would be implemented in connection with filings for periods ending on or after October 1, 2005. Delinquent filings prior to that period will not count towards the new rule. Therefore, upon implementation, no issuer would immediately be subject to the one-year ineligibility period from continued quotation on the OTCBB. For full details concerning the proposal, click here for a copy of the Notice of NASDAQ’s filing with the SEC.
Contact Information
For questions or more information regarding this proposed change, please contact:
OTC Bulletin Board, at 301.978.8263.
Might need an All the Rage Umbrella #msg-7525585
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