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how were so many unregistered shares issued and how many other companies were victims like bighub?
who is this yucatan holdings? why did they get involved? where are they based out of?
jim did you ever contact the osc re: sulja, before the investigation was announced??
was there news out? the board got active yesterday!!!
binzur when is your trip to sulja in windsor??
marketman, the crime committed by G.S. is greater than the fine
they were given!!
ot: Goldman Sachs fined $2M (WHAT WERE ACTUAL DAMAGES TO INVESTORS VS. THE FINE THEY RECIEVED?) YOU SEE MY POINT????
SEC and NYSE say firm allowed clients to make illegal short sales. Bank of America fined in separate case.
Bloomberg News
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March 15, 2007
Goldman Sachs Group Inc., the world's biggest securities firm by market value, was fined $2 million by U.S. market regulators for allowing clients to make illegal short sales before stock offerings.
Goldman didn't follow procedures that may have uncovered a pattern of illegal trades from 2000 to 2002, the Securities and Exchange Commission and the New York Stock Exchange said in statements yesterday.
If there are signs clients are lying, "the broker must investigate the customer's trading," David Nelson, an SEC regional director overseeing the case, said in a statement.
Regulators are increasingly holding prime brokers accountable if they don't act on signs that hedge funds and other clients are conducting illegal trades. Susan Merrill, NYSE's enforcement chief, warned in November that watchdogs would take action if brokers didn't prevent abuses like making improper short sales before public offerings.
By forcing brokers to be vigilant, regulators can curb and catch more illegal trades, said James Cox, a Duke University law professor specializing in securities fraud.
"Brokers are professionals different than plumbers, who don't have a civic or social obligation," he said.
In a separate action, the SEC fined Bank of America Corp. $26 million, ending a 6-year probe into the company's misuse of its own analysts' research. Charlotte, N.C.-based Bank of America is the second-largest U.S. bank by assets.
In short selling, traders bet a stock's price will decline by borrowing shares to sell in the open market, with the intention of repurchasing them later and pocketing the difference.
Goldman's clients broke rules by seeking to cover their short sales with stocks to be bought in secondary offerings, the SEC said. That let them take advantage of expected price drops when the shares hit the market.
janice have a HAPPY EASTER and a happy holiday to all!!
janice heres to you hoping "We also assist publicly owned companies with quarterly and annual filings with the Securities and Exchange Commission."
Turner Stone & Company, LLP
Your Vision Our Focus
Audit Services
We provide audit services to public and private companies from a wide range of industries, including manufacturing, oil and gas, mortgage banking, construction, heath care, and financial services. We also perform audits following Government Auditing Standards, and audits of employee benefit plans following ERISA requirements.
We offer a full range of auditing services for mergers and acquisitions.
We also assist publicly owned companies with quarterly and annual filings with the Securities and Exchange Commission.
happy easter to all the bashers and the so-called pumpers!!
chiphldr happy easter
janice shell happy easter
jim bishop happy easter
jannie happy easter
binzur happy easter
agree..marketman are you willing to contact the company and arrange a visit?
why would they be skeptical if they have nothing to hide??
MM you say "i wonder why management only meets with select shareholders?"
have you made any effort to contact the company to arrange a meeting??
why doesnt marketman and binzur arrange their own trip, the day before or the day after???
airys any idea why the WS is not publishing the news re: the hiring of the us auditing firm?? are there not other reporters at that paper without a one-sided bias, as we are seeing on this board??
when you are a non-shareholder with no interest, you may feel that way!!
did WS reporter write a article about the hiring of the u.s. auditor to inform the windsor residents of this development? what are the chances he writes a article about this positive development??
"it aint" 1003 posts for someone with no financial interest!!
PRETTY MUCH SUMS IT UP!!!
WHY..WHY..WHY.MM you say "why not take care of it now? why wait another week? simple fax should take care of it. right? as of this very moment, it's is only your opinion, not a fact."
SIMPLE WHY NOT CALL YOURSELF??
mm should i sell based on your negative sentiment??
marketman what advice can you give us on this or any stock?
jannie...thanks!!
can any long sljb shareholder post the level 2 bid ask? thanks
anyone posting on this board own shares in sljb??
ot:interesting article Jim Cramer: Here's how to cheat
Extra3/23/2007 4:30 PM ET
Jim Cramer: Here's how to cheat
The popular CNBC host, a former hedge fund manager, could draw scrutiny from federal regulators after telling an interviewer about methods for manipulating the stock market.
Stock market commentator and CNBC television host Jim Cramer has raised eyebrows after describing illegal activities used by hedge fund managers to manipulate stock prices.
In a December video interview on the Web site of TheStreet.com (TSCM, news, msgs), a financial news company he co-founded, Cramer, while never saying he used such tactics himself, described how it was possible to push stocks higher or lower at his previous job running a hedge fund.
The interview, which has received widespread attention only after being posted to online video site YouTube, may be studied by government and stock market regulators, said hedge fund experts and legal sources.
Cramer: It's a fun, lucrative game
The interview described methods, including tactical buying, shorting and using options, to create an impression in the market that could prompt other traders and investors to buy or sell a stock.
"A lot of times when I was short at my hedge fund . . . meaning I needed (a stock) down, I would create a level of activity beforehand that could drive the futures," said Cramer. "It's a fun game and it's a lucrative game."
Cramer, host of the popular CNBC television show "Mad Money," described other tactics that could be used to drive down technology stocks such as Research in Motion (RIMM, news, msgs) or Apple (AAPL, news, msgs) to make them cheaper to purchase later. CNBC is owned by General Electric (GE, news, msgs).
In the interview, Cramer said a hedge fund manager's favorite tactic is to get a rumor about a stock to an unwitting reporter -- at The Wall Street Journal or at his current employer, CNBC -- and hope that it moves the stock in the direction the manager wants.
Cramer said some tactics are "blatantly illegal" but sometimes essential for poorly performing hedge funds.
Cramer said if a market participant wanted to get shares of a company like Research in Motion lower, then he should first get investors "talking about it as if there is something wrong with RIMM. Then you call the (Wall Street) Journal and get the bozo reporter in Research in Motion and you would feed that (rival) Palm's (PALM, news, msgs) got a killer it's going to give away," he said. "These are all the things that you must do on a day like today and if you're not doing it, maybe you shouldn't be in the game.
"It might cost me $15 million or $20 million to knock RIMM down but it would be fabulous because it would beleaguer all the moron longs who are also keying on Research in Motion," Cramer said.
He also said the Securities and Exchange Commission does not understand some illegal activity.
Challenging financial regulators?
Hedge fund lawyer Ron Geffner of Sadis & Goldberg called the interview a "somewhat surprising confession to make publicly, which definitely invites suspicion by regulators."
"Whether he violated the law is unclear," Geffner said. "That is dependent on his trading records. But it's clear that he seems to be challenging regulators to come and examine him."
A spokesman for the SEC declined to comment on whether the agency is looking at Cramer's comments. A decade ago Cramer faced an SEC investigation over a column he wrote for SmartMoney magazine that touted four stocks without disclosing his holdings in them. He was eventually cleared of wrongdoing, according to news reports.
Other legal experts criticized Cramer's comments for suggesting that stock manipulation is widespread among the growing legions of hedge funds, which are investment vehicles that typically trade much more actively and use more complex strategies than mutual funds.
"This makes it sound like everyone is doing it, and the reality is that most hedge funds are not engaged in this kind of manipulative behavior," said Laurel FitzPatrick, a hedge fund lawyer with Ropes & Gray.
Cramer could not be reached for comment following calls to both TheStreet.com and CNBC. Spokespeople for CNBC and TheStreet.com were unavailable for comment.
Cramer said in the interview that he would not make such comments on his CNBC show.
Cramer, who regularly gives opinions on stocks on his daily TV show, also said stock market movements are often unconnected to the fundamental qualities of the underlying company.
"Who cares about the fundamentals?" he said. "The great thing about the market is that it has nothing to do with the actual stocks."
This article was reported and written by Dane Hamilton for Reuters. Hamilton previously worked for TheStreet.com.
great timing, coinciding it with the sell-off today!! thanks
mm move pre-market .008 x .02 now
interesting(intentional?) mm move pre-market .003 x .14
OT:Jury awards $11.3M over defamatory Internet posts
By Laura Parker, USA TODAY
A Florida woman has been awarded $11.3 million in a defamation lawsuit against a Louisiana woman who posted messages on the Internet accusing her of being a "crook," a "con artist" and a "fraud."
Legal analysts say the Sept. 19 award by a jury in Broward County, Fla. — first reported Friday by the Daily Business Review — represents the largest such judgment over postings on an Internet blog or message board. Lyrissa Lidsky, a University of Florida law professor who specializes in free-speech issues, calls the award "astonishing."
BEWARE OF BLOGS: Courts are asked to crack down on bloggers, websites
Lidsky says the case could represent a coming trend in court fights over online messages because the woman who won the damage award, Sue Scheff of Weston, Fla., pursued the case even though she knew the defendant, Carey Bock of Mandeville, La., has no hope of paying such an award. Bock, who had to leave her home for several months because of Hurricane Katrina, couldn't afford an attorney and didn't show up for the trial.
"What's interesting about this case is that (Scheff) was so vested in being vindicated, she was willing to pay court costs," Lidsky says. "They knew before trial that the defendant couldn't pay, so what's the point in going to the jury?"
Scheff says she wanted to make a point to those who unfairly criticize others on the Internet. "I'm sure (Bock) doesn't have $1 million, let alone $11 million, but the message is strong and clear," Scheff says. "People are using the Internet to destroy people they don't like, and you can't do that."
The dispute between the two women arose after Bock asked Scheff for help in withdrawing Bock's twin sons from a boarding school in Costa Rica. Bock had disagreed with her ex-husband over how to deal with the boys' behavior problems. Against Bock's wishes, he had sent the boys to the boarding school.
Scheff, who operates a referral service called Parents Universal Resource Experts, says she referred Bock to a consultant who helped Bock retrieve her sons. Afterward, Bock became critical of Scheff and posted negative messages about her on the Internet site Fornits.com, where parents with children in boarding schools for troubled teens confer with one another.
In 2003, Scheff sued Bock for defamation. Bock hired a lawyer, but he left the case when she no longer could afford to pay him.
When Katrina hit in August 2005, Bock's house was flooded and she moved temporarily to Texas before returning to Louisiana last June. Court papers that Scheff and her attorney David H. Pollack mailed to Bock were returned to Pollack's office in Miami.
After Bock didn't offer a defense, a Broward Circuit Court judge found in favor of Scheff. A jury then heard Scheff's arguments about damages. Pollack did not seek a specific amount for the harm he says Scheff's business suffered.
"Even with no opposing counsel and no defendant there, $11 million is a huge amount," says Pollack, adding that Scheff is considering whether to try to collect any money from Bock. "The jury determined this was a significant enough issue. It's not just somebody's feelings are hurt; it's somebody's reputation is ruined."
Bock says that when she moved back to her repaired house over the summer, she knew the trial was approaching but did not know the date. She says she doesn't have the money to pay the judgment or hire a lawyer to appeal it. She adds that if the goal of Scheff's lawsuit was to stifle what Bock says online, it worked.
"I don't feel like I can express my opinions," Bock says. "Only one side of the story was told in court. Nobody heard my side."
Posted 10/10/2006 10:07 PM ET
Since March 2004, the "blogosphere" has doubled in size every five to seven months. There now are more than 53 million blogs. Key blog statistics:
150,000 -- The number of blogs created each day, or nearly two blogs per second.
1.6 million -- The number of daily postings, or more than 66,600 per hour.
39% of the blogs were in English.
31% of the blogs were in Japanese.
12% of the blogs were in Chinese.
2% of the blogs were in Spanish.
40% of those who start a blog are still posting on it three months later.
Source: Technorati, a San Francisco firm that tracks blogs, as of June.
BINZ BY WHO?? "It has been proven that no merger ever took place between Loftwerks, Inc. and Sulja Canada"
what evidence is there that this is the case, can you offer it to the board please...with a link???
jannie why does nearly every other stock on ihub have info in the IBOX??? as a moderator it is your suty to update ASAP!! imo
how many shareholders would like to see the ibox updated?
with atleast the company logo..a picture of the locations their phone and fax number and at least a brief history on the company??
appears the moderator does not have any interest in updating the IBOX, so im told!!
jannie as a moderator if you have the time to reply to my post, dont you think you should be doing your job and get the IBOX up to date??? dont you owe it to the shareholders seeing that you have now taken on the job as moderator??