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Thanks my friend. I've got 3 different classes of stocks and looking to add more. YABADABADOO!
Is WAMUQ a good stock?
Awesome! Target of 10 to 15 cents soon. I believe it, coz we gots some hardwood floors. LOL!
Alright now, fess up... So who is the jerk that Greg was talking about? LOL!
It's good to see youse all are starting to get excited on this board again. Just a matter of time IMHO...
WHen do they need to cover by?
Good job!
You may be right. Although in my case, I am here because I want to see where this company is going, not where it's been. I am willing to give this very excited CEO a chance.
Thanks, I am watching it today.
Good morning, What is the excitement here all about?
Definitely. Bottomline is that SEC allows flexibility in this ruling.
I don't know much about facebook, but Youtube video is definitely acceptable! Here is a rather lengthy but informative regulation by SEC.
http://www.sec.gov/rules/final/33-7881.htm
4. "Public Disclosure" Required by Regulation FD
Rule 101(e) defines the type of "public disclosure" that will satisfy the requirements of Regulation FD. As proposed, Rule 101(e) gave issuers considerable flexibility in determining how to make required public disclosure. The proposal stated that issuers could meet Regulation FD's "public disclosure" requirement by filing a Form 8-K, by distributing a press release through a widely disseminated news or wire service, or by any other non-exclusionary method of disclosure that is reasonably designed to provide broad public access -- such as announcement at a conference of which the public had notice and to which the public was granted access, either by personal attendance, or telephonic or electronic access. This definition was designed to permit issuers to make use of current technologies, such as webcasting of conference calls, that provide broad public access to issuer disclosure events.
Commenters generally favored the flexible approach provided by Rule 101(e). The American Society of Corporate Secretaries and the Financial Executives Institute, among others, agreed that the definition should not stipulate particular means of technology used for public disclosure. Individual investors supported the idea that issuers should open their conference calls to the public through means such as webcasting over the Internet. Some commenters, however, raised the concern that conference calls or webcasts should not be permitted to supplant the use of press releases as means of disclosing material information.63 Others suggested that we provide that an issuer's posting of information on its website should also be considered sufficient Regulation FD disclosure.64
After considering the range of comments on this issue, we have determined to adopt a slightly modified definition of "public disclosure" that would provide even greater flexibility to issuers in determining the most appropriate means of disclosure. As adopted, Rule 101(e) states that issuers can make public disclosure for purposes of Regulation FD by filing or furnishing a Form 8-K, or by disseminating information "through another method (or combination of methods) of disclosure that is reasonably designed to provide broad, non-exclusionary distribution of the information to the public."
a. Form 8-K Disclosure
Commenters generally opposed the proposed new Item 10 of Form 8-K based, in large part, on a concern that people would construe a separate Item 10 filing as an admission that the disclosed information is material.65 In light of the timing requirements for making materiality judgments under Regulation FD, commenters wanted to be able to err on the side of filing information that may or may not be material, without precluding a later conclusion that the information was not material. Commenters recommended amending Item 5 of Form 8-K to include required Regulation FD disclosures.66 Some commenters also suggested that Regulation FD submissions on Form 8-K should not be treated as "filed" for purposes of the Exchange Act.
In light of these comments, we provide that either filing or furnishing information on Form 8-K solely to satisfy Regulation FD will not, by itself, be deemed an admission as to the materiality of the information. In addition, while we retain a separate Item, we also are modifying Item 5 of Form 8-K to address commenters' concerns. As revised, issuers may choose either to "file" a report under Item 5 of Form 8-K or to "furnish" a report under Item 9 of Form 8-K that will not be deemed "filed." If an issuer chooses to file the information on Form 8-K,67 the information will be subject to liability under Section 18 of the Exchange Act. The information also will be subject to automatic incorporation by reference into the issuer's Securities Act registration statements, which are subject to liability under Sections 11 and 12(a)(2) of the Securities Act. If an issuer chooses instead to furnish the information,68 it will not be subject to liability under Section 11 of the Securities Act or Section 18 of the Exchange Act for the disclosure, unless it takes steps to include that disclosure in a filed report, proxy statement, or registration statement. All disclosures on Form 8-K, whether filed or furnished, will remain subject to the antifraud provisions of the federal securities laws.
b. Alternative Methods of Public Disclosure
We are recognizing alternative methods of public disclosure to give issuers the flexibility to choose another method (or a combination of methods) of disclosure that will achieve the goal of effecting broad, non-exclusionary distribution of information to the public.69
As a general matter, acceptable methods of public disclosure for purposes of Regulation FD will include press releases distributed through a widely circulated news or wire service, or announcements made through press conferences or conference calls that interested members of the public may attend or listen to either in person, by telephonic transmission, or by other electronic transmission (including use of the Internet). The public must be given adequate notice of the conference or call and the means for accessing it. The regulation does not require use of a particular method, or establish a "one size fits all" standard for disclosure; rather, it leaves the decision to the issuer to choose methods that are reasonably calculated to make effective, broad, and non-exclusionary public disclosure, given the particular circumstances of that issuer. Indeed, we have modified the language of the regulation to note that the issuer may use a method "or combination of methods" of disclosure, in recognition of the fact that it may not always be possible or desirable for an issuer to rely on a single method of disclosure as reasonably designed to effect broad public disclosure.
We believe that issuers could use the following model, which employs a combination of methods of disclosure, for making a planned disclosure of material information, such as a scheduled earnings release:
First, issue a press release, distributed through regular channels, containing the information;70
Second, provide adequate notice, by a press release and/or website posting, of a scheduled conference call to discuss the announced results, giving investors both the time and date of the conference call, and instructions on how to access the call; and
Third, hold the conference call in an open manner, permitting investors to listen in either by telephonic means or through Internet webcasting.71
By following these steps, an issuer can use the press release to provide the initial broad distribution of the information, and then discuss its release with analysts in the subsequent conference call, without fear that if it should disclose additional material details related to the original disclosure it will be engaging in a selective disclosure of material information. We note that several issuer commenters indicated that many companies already follow this or a similar model for making planned disclosures.72
In the Proposing Release, we stated that an issuer's posting of new information on its own website would not by itself be considered a sufficient method of public disclosure. As technology evolves and as more investors have access to and use the Internet, however, we believe that some issuers, whose websites are widely followed by the investment community, could use such a method. Moreover, while the posting of information on an issuer's website may not now, by itself, be a sufficient means of public disclosure, we agree with commenters that issuer websites can be an important component of an effective disclosure process. Thus, in some circumstances an issuer may be able to demonstrate that disclosure made on its website could be part of a combination of methods, "reasonably designed to provide broad, non-exclusionary distribution" of information to the public.73
We emphasize, however, that while Rule 101(e) gives an issuer considerable flexibility in choosing appropriate methods of public disclosure, it also places a responsibility on the issuer to choose methods that are, in fact, "reasonably designed" to effect a broad and non-exclusionary distribution of information to the public. In determining whether an issuer's method of making a particular disclosure was reasonable, we will consider all the relevant facts and circumstances, recognizing that methods of disclosure that may be effective for some issuers may not be effective for others. If, for example, an issuer knows that its press releases are routinely not carried by major business wire services, it may not be sufficient for that issuer to make public disclosure solely by submitting its press release to one of these wire services; the issuer in these circumstances should use other or additional methods of dissemination, such as distribution of the information to local media, furnishing or filing a Form 8-K with the Commission, posting the information on its website, or using a service that distributes the press release to a variety of media outlets and/or retains the press release.
We also caution issuers that a deviation from their usual practices for making public disclosure may affect our judgment as to whether the method they have chosen in a particular case was reasonable. For example, if an issuer typically discloses its quarterly earnings results in regularly disseminated press releases, we might view skeptically an issuer's claim that a last minute webcast of quarterly results, made at the same time as an otherwise selective disclosure of that information, provided effective broad, non-exclusionary public disclosure of the information.74 In short, an issuer's methods of making disclosure in a particular case should be judged with respect to what is "reasonably designed" to effect broad, non-exclusionary distribution in light of all the relevant facts and circumstances.
Why would he be in trouble with the SEC?
"Everyone waiting for his super duper blog on Monday should be aware that he can't release anything in there of a material nature that would cause the stock price to move up or down, this has to be done through a public PR or else he would be in big trouble with the SEC - I don't think a PR is coming on Monday just a blog like he said."
SHOW US DA MONEY! Greg!
Funny! Ha! Ha!
He reminds me of the movie "Catch Me If You Can" Frank William Abagnale, Jr. was a convicted felon and ended up as an expert working for the FBI.
Anymore 100 share trades? LOL!
I'm not sure anyone here got a chance to jump in on that ride.
Tony, I got that. My point was for you to just post the link instead of a thousand pages, LOL!
Is that all of the pages? Lol!
Zzzzzzz....
And veterans/military can buy a home with zero down, fixed rate from the VA.
And I like the "other government agencies" as part of their clients. Perhaps even endorsed by Jesse Jackson and other distinguished African American Citizens.
http://www.andhranews.net/intl/2006/May/16/African-American-Business.asp
PRWEB) May 16, 2006 -- The African American Business Summit 2006, themed P� - Power Passion Profit, announced its line up of dynamic speakers, presenters, keynotes and workshops at its 9th annual event to be held at the Hotel Zoso, 150 South Indian Canyon Road in Palm Springs, California - June 21 - 26, 2006. This year's event features a keynote/reception by Rev. Jesse Jackson, Founder and President of RainbowPUSH Coalition.
Presented by Wells Fargo and Hosted by Turning Point Magazine, TPC Foundation, Inc., and the African American Chamber of Commerce Palm Springs, P� - Power Passion Profit provides small business professionals serious how-to business-building instruction in an environment that restores balance and creativity.
Highlights of P� - Power Passion Profit include:
* Chairman Danny J. Bakewell Sr. will be on the Conversation with a Winner Q&A discussing his career as a successful African American Businessman, Financier, Community Activist, Humanitarian and owner of the Los Angeles Sentinel Newspaper.
* A special keynote by the Reverend Jesse Jackson.
* The Turning Point Magazine/Wells Fargo Living History Makers $5,000 Award winner and opening Keynote address by distinguished financial journalist and best-selling author Kelvin Boston who is also the executive producer and host of the Moneywise with Kelvin Boston public television series.
* A must not miss workshop that focuses on creating the "buzz" for your business and/or products with Gerry Foster - President of Gerry Foster Marketing.
* A General Session on the impact of Public Policy on Minority Business with Eddie N. Williams - President Emeritus, Joint Center for Political and Economic Studies / President, Eddie Williams Associates, Jan Perry - City Council Member, City of Los Angeles and Courtland Cox - Former Director of the Minority Business Development Agency (MBDA) under President Clinton. Presently Director of Local, Small, and Disadvantaged Business Development, District of Columbia Sports and Entertainment Commission and Anacostia Waterfront Commission.
* A general session on how public and private institutions provide capital for investing in small business moderated by Connecticut State Controller Denise Nappier, the first African-American woman elected to serve as a State Treasurer in the United States and the first African-American woman elected to a statewide office in Connecticut and featuring investment phenoms: Gloria Moore-Andrews - Deputy Director, CalPERS, Victor MacFarlane - CEO, MacFarlane Partners and Anita Stephens - Managing Director, Opportunity Capital Partners.
* An exciting panel discussion on how a small business can be a supplier to the entertainment industry with entertainment industry leaders Jerry Jacobsen of Fox Entertainment, Michelle Smith-Ballard of AEG and Arnice Lamb of The Disney Company.
* A post Katrina - New Orleans development panel asking: "Is There a Real Role for Minority Developers?" with panelists: Philip S. Hart - President/CEO of Hart Realty Advisors (a division of Tanya Hart Communications, Inc.) and Eva Marie Benoit - Professor, Tulane University New Orleans.
* An exclusive P� - Power Passion Profit Urban Issues Forum moderated by Anthony Asadullah Samad - author, columnist and scholar known for his fiery analysis of social, political and economic issues that impact American society.
* An informative panel discussing passing your business through generations: "Your Business or your Money...Which do YOU want to leave your kids?" with Danny Bakewell, Jr. - President/CEO, The Bakewell Group; Rene A. Nourse, CFP - Vice President-Wealth Management, Smith Barney and Avery Clayton - Executive Director, The Mayme Clayton Library.
* A government panel discussing how every 20 SECONDS of each working day, the Federal Government awards a contract and how a business owner can get those contracts with government experts Algeon Gaither - Director Small Business Programs, Office of Small Business Utilization, U.S. General Services Administration, Pamela Smith-Cressel - Director of the Office of Small Business Utilization, U.S. General Services Administration and Mary Ann Mitchell - President & CEO, CC-OPS, Inc. - President, National Black Business Council.
* A "Can Your Small Business Afford Not to Offer Health Insurance to Employees" workshop with Corliss N. Hill - Director of Business Development of UnitedHealthcare's African American Health Solutions.
* An enlightening technology panel directed to small businesses featuring Microsoft' executive Art Pettigrew and Gregory Evans - Founder/President LIGATT Securities, a security technology company entitled "Hi Tech Hook-up".
* B.J. Hawkins, PhD - President, OFS, The Business Doctors offers a workshop on Reverse Auction - The New Online Procurement Tool to explore the reality of eProcurement and ePurchasing programs, specifically eAuctions, and the significant impact reverse auctions have had on the vendor/supplier relationship.
The African American Business Summit 2006, P� - Power Passion Profit is a must not miss business event for 2006. Additional event features include: Wells Fargo's How to Get Money For Your Business Seminar, Smart Start Youth Financial Literacy Program, The Business/Vendor Fair, Your Business 15 Minutes of Fame, The Networking Lounge, a Cyber Caf�, Welcome Reception, P� Noir nightly events including: a Wine Tasting and Art Showing featuring the art work of Charles Bibbs and Cruisin's Divine Wines, a Dessert Reception, a closing night dance ...and more.
To register and/or more information regarding the African American Business Summit 2006 - please visit: www.aabs2006.com.
Media and Marketing Contact: Adrienne S. Lamm, 323-299-6000 ext. 107.
Partners (Partial List):
Southwest Airlines, AEG, Agua Caliente Band of Cahuilla Indians, Microsoft, AT&T, Sempra Energy, Southern California Edison, Los Angeles World Airport, FOX Entertainment Group, PacifiCare, Enterprise Rent a Car, Fox Entertainment Group, Focal Point Media, Pepie LLC, O-este Designs, Ligatt, Rainbow Collition, CC-OPS, NBBC, The California Endowment, Enterprise Rent a Car, GSA, Hotel Zoso, Marquis Villas, Personal Services Plus, Crusin' Travel and Tours.
Official Newspaper of the African American Business Summit 2006
The Los Angeles Sentinel
Palm Springs Newspaper of the African American Business Summit 2006
The Desert Sun
AABS 2006 Media Partners: (Partial Listing) 100.3 FM "The Beat" Radio (A Radio One Station), KPSE - UPN 13 Palm Springs Television, BlackPR.com, African American Golfer's Digest, Save the Date Media Group, LLC, Black Business Radio - New York, BBA, BlackNews.com, News 23 the Edge Cable/Satellite Networks, Small Business Exchange, RDCC/BB Media Group, Superior Sports Network, Diversity City Media, Ebony Cactus Magazine, Dr. Roland Holmes - The Voice of Jazz KUCI-FM, Palm Springs Life, Palm Springs View/Viper Logic Corporation, Jericho Broadcasting, Inland Empire Community Events, The National Urban League, The Valder BeeBe Show, Black Voice News and The Wright Place TV Show.
Press Contact: Adrienne Lamm
Company Name: TURNING POINT COMMUNICATIONS
Email: ASL9810@aol.com
Phone: 323-299-6000
Website: http://www.aabs2006.com
Why Is AIG Backing Fannie/Freddie 'Enhanced' Mortgages?
http://seekingalpha.com/article/122484-why-is-aig-backing-fannie-freddie-enhanced-mortgages?ref=patrick.net
February 25, 2009
Bernanke laid it on the line today. I heard him say that the Fed and Treasury were going to provide debt and equity capital to many of the Nation's banks. Failure to do so was not an option. He pledged that the Risky Lending Standards of the past would be eliminated. He promised to ‘fix’ the errors that had been made by the misguided bankers.
It sure sounded good. The market even liked it. It is bunk. The following is an example of how Lending Standards are set in DC. You decide. Are these good lending standards? Is this good business practice? The following is happening on a very regular basis. The numbers are big.
Fannie Mae (FNM) and Freddie Mac (FRE) have always had terms for a Conforming mortgage. A Conforming mortgage requires 20% equity from the buyer. That makes for a good borrower. That is a ‘good’ lending standard.
Many years ago the Agencies and the insurance industry created a carve-out to the Conforming mortgage definition. If an 'approved’ insurance company was willing to take a first loss on the loan portion that was in excess of 80% then the Agencies would buy the mortgages. No more 20% down.
This practice morphed. It started with 10% equity, 10% mortgage insurance. It ended with –3% equity, 23% insurance. These are terrible lending standards. The borrowers have no risk. Fannie Mae and Freddie Mac bought as much of this “enhanced” paper that they could. The yields were great and how could they lose if the likes of AIG (AIG) were going to guarantee the first loss?
This of course ended very badly. The insurers got crushed. It is not clear what their claims-paying abilities are any longer. Fannie and Freddie are big losers on the enhanced book of business as well. The losses on the enhanced mortgages far exceeded the 10–20% that was insured. The only ones who made out were the regional banks that originated and sold the risky loans to the Agencies. FNM recently reported that its default rate on enhanced loans was five times larger than on loans that had the traditional 20% down. Bad lending standards make for bad loans.
These questionable standards are 'business as usual' today at Fannie and Freddie. They continue to buy pools of mortgages where the required equity of a borrower has been replaced with an insurance company's promise to pay. The incredible part is that one of those “approved’ insurers continues to be AIG.
Twenty-two percent of Fannie's 08 business was enhanced. AIG was one of the biggest providers of the PMI coverage.
AIG owes its existence to the taxpayers. Yet they are writing first loss insurance on high risk mortgages. With this questionable promise to pay attached, the loans can be sold to another ward of the state, FNM. These are terrible lending standards and it is bad business practice. The taxpayers are at risk to both sides of this transaction. If history is a guide 'we' will ultimately suffer losses from both AIG and FNM on this business.
The PMI/AIG/FNM connection is understood by Geithner. Lockhart and Bernanke. They are aware of the entire PMI time bomb within the Agencies. That they are allowing this to continue today does not evoke much confidence in Bernanke’s claim to end the Reckless Lending Standards of the past.
Why Is AIG Backing Fannie/Freddie 'Enhanced' Mortgages?
http://seekingalpha.com/article/122484-why-is-aig-backing-fannie-freddie-enhanced-mortgages?ref=patrick.net
February 25, 2009
Bernanke laid it on the line today. I heard him say that the Fed and Treasury were going to provide debt and equity capital to many of the Nation's banks. Failure to do so was not an option. He pledged that the Risky Lending Standards of the past would be eliminated. He promised to ‘fix’ the errors that had been made by the misguided bankers.
It sure sounded good. The market even liked it. It is bunk. The following is an example of how Lending Standards are set in DC. You decide. Are these good lending standards? Is this good business practice? The following is happening on a very regular basis. The numbers are big.
Fannie Mae (FNM) and Freddie Mac (FRE) have always had terms for a Conforming mortgage. A Conforming mortgage requires 20% equity from the buyer. That makes for a good borrower. That is a ‘good’ lending standard.
Many years ago the Agencies and the insurance industry created a carve-out to the Conforming mortgage definition. If an 'approved’ insurance company was willing to take a first loss on the loan portion that was in excess of 80% then the Agencies would buy the mortgages. No more 20% down.
This practice morphed. It started with 10% equity, 10% mortgage insurance. It ended with –3% equity, 23% insurance. These are terrible lending standards. The borrowers have no risk. Fannie Mae and Freddie Mac bought as much of this “enhanced” paper that they could. The yields were great and how could they lose if the likes of AIG (AIG) were going to guarantee the first loss?
This of course ended very badly. The insurers got crushed. It is not clear what their claims-paying abilities are any longer. Fannie and Freddie are big losers on the enhanced book of business as well. The losses on the enhanced mortgages far exceeded the 10–20% that was insured. The only ones who made out were the regional banks that originated and sold the risky loans to the Agencies. FNM recently reported that its default rate on enhanced loans was five times larger than on loans that had the traditional 20% down. Bad lending standards make for bad loans.
These questionable standards are 'business as usual' today at Fannie and Freddie. They continue to buy pools of mortgages where the required equity of a borrower has been replaced with an insurance company's promise to pay. The incredible part is that one of those “approved’ insurers continues to be AIG.
Twenty-two percent of Fannie's 08 business was enhanced. AIG was one of the biggest providers of the PMI coverage.
AIG owes its existence to the taxpayers. Yet they are writing first loss insurance on high risk mortgages. With this questionable promise to pay attached, the loans can be sold to another ward of the state, FNM. These are terrible lending standards and it is bad business practice. The taxpayers are at risk to both sides of this transaction. If history is a guide 'we' will ultimately suffer losses from both AIG and FNM on this business.
The PMI/AIG/FNM connection is understood by Geithner. Lockhart and Bernanke. They are aware of the entire PMI time bomb within the Agencies. That they are allowing this to continue today does not evoke much confidence in Bernanke’s claim to end the Reckless Lending Standards of the past.
Aaahh! Just a dream... LOL!
It's funny you just posted that. I was just thinking that Since Pres. Obama chose to keep his black berry in the White House, maybe he got Greg to help protect that along with an offer of a huge government contract. Wouldn't that be something?
If this would turn out to be the case ... with such integrity and wisdom ... Prez. Obama may just choose him to be the NEXT Homeland Security guru.
You gots that right. The potential is there.
I really hope you are right. We would be....
SHOW US DA MONEY GREG!
I agree. There are more offices too. Anyone here have a Hoovers' account? It would be nice if you could share info.
Their office in CA has an estimated annual sales of $1.7 million http://www.manta.com/coms2/dnbcompany_62c8d9
You may be right. I remember seeing that somewhere in my DD.
Ligatt Security is a subsidiary of EFI Inc. Does anyone know what company EFI Inc. is?
Oops my bad, but I was in that ride too. Both can definitely be on American Greed.
ROTFL! Too funny, Har! Har! Har!
Funny! em.
I would like to see Petar featured on American Greed on CNBC, that was a really interesting ride.
Don't sweat it. I say post away.
Great close! To be continued...