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NASD Regulation 3370 Goes Into Effect Today: Illegal Naked Shorts on the Run
http://www.otcjournal.com
For those of you who have been following this issue, I have an update. If you see some Bulletin Board stocks begin to trade a little crazy, it may be the result of this new regulation.
http://www.nasdr.com/pdf-text/0421ntm.pdf
I have reported on this issue in four previous editions, and I have learned a new rule went into effect today which appears to be the answer to a problem which has plagued the microcap market for many years.
Illegal naked short sellers have been able to funnel trades into US markets through Canadian Brokerage firms to the detriment of many investors. US brokerage firms are regulated by both the SEC and the NASD. Canadian firms are not.
NASD Regulation 3370, entitled "Affirmative Determination Requirements" places the responsibility on the US Brokerage firms to determine if sellers who are non NASD member (coming from outside the US) can actually deliver the securities they are selling. If they cannot, the trade cannot be executed on their behalf.
The new NASD rule went into effect today, and rumor has it that illegal naked short sellers are scrambling to find a home for their positions. I don't believe they will be forced to cover existing shorts, but for future trading the loophole has been closed. Look for this to have a very positive effect on many microcap stock values.
Can anyone tell me effects of fuzhengfangaitang on human fibrosarcoma cells?
My wife asked me if I knew that one and I almost choked on my beer, can someone help me? lol
Can anyone recommend a good post to read in the past month?
Thanks,
Al
.
5 for 1 split
(TIE)
TIMET Announces Payment of Deferred Dividends and Interest on Convertible Preferred Securities and 5-for-1 Stock Split
DENVER, March 24 /PRNewswire-FirstCall/ -- Titanium Metals Corporation ("TIMET" or the "Company") (NYSE: TIE) announced today that its Board of Directors has approved resumption of scheduled quarterly payments of dividends on its outstanding 6.625% Convertible Preferred Securities with the next scheduled payment on June 1, 2004 to holders of record as of May 15, 2004. The Company's Board also approved payment on April 15, 2004 of all previously deferred dividends and accrued interest on the Convertible Preferred Securities to holders of record as of April 5, 2004.
TIMET also announced that its Board of Directors has approved a split of TIMET's common stock, $.01 par value per share, at a ratio of five new shares for each old share. In order to effect the split, the Company's Board has also approved the amendment of TIMET's Certificate of Incorporation to increase the number of authorized shares of capital stock.
The Company will submit the proposal to amend its Certificate of Incorporation to increase the authorized capital stock to its stockholders for approval at the 2004 Annual Meeting of Stockholders, currently scheduled for May 21, 2004. Subject to stockholder approval of the amendment of the Company's Certificate of Incorporation and the approval of a Supplemental Listing Application by the New York Stock Exchange, the stock split will be effected by means of a dividend of four shares of TIMET's Common stock for each issued and outstanding share of Common Stock. Upon satisfaction of the NYSE listing requirements, the effective date of the stock split will be announced. The definitive date, time and place of the Company's Annual Meeting will be included in the Company's Notice of Annual Meeting of Stockholders and Proxy Statement.
TIMET, headquartered in Denver, Colorado, is a leading worldwide producer of titanium metal products. Information on TIMET is available on the internet at http://www.timet.com /.
SOURCE Titanium Metals Corporation
CO: Titanium Metals Corporation
ST: Colorado
SU: DIV
Web site: http://www.timet.com
http://www.prnewswire.com
03/24/2004 17:53 EST
I just love the way some companies advertise
I bet if we didn't respond to that ad, next one would be the girl standing next to a big man wearing a velvet hat with a feather sticking out of it. Sheesh
This 1999 NASA artist's rendition shows the X-43A hypersonic research aircraft as it would appear in flight. NASA announced plans to launch a supersonic drone later this month designed to fly 6,000 miles (10,000 km) per hour, nearly three times the standing jet airspeed record.(NASA)
Hey look what I won he he :)
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3392918957
Lights out Baby! Can't wait till the lights come back on.
That is a shame that a person or an animal could do that.
Oh,I called them as if I owned a shop. This guy in the article owns a shop so I was just acting as if I was in his shoes.
When you own a shop I think that I would not buy them one by one, it may be cheeper to buy the Pkg.
Al
For a while I thought this video caught your fate, did not hear from you in a while. I guess you are back from your swim lol
Good to hear from you buddy!
"With OBDII a laptop and some software you too can be a mechanic."
Not too bad, its $185 a month till you don't want to be a mechanic anymore, or a flat fee of $2,200 a year.
I think the guy in the article would like the data for free.
QUIET YOU!
;) lol
Ya, I thought it was 60 days and the last PR was 2/13/04
Terrorists 1 Spain 0
This is why the US is #1 and places like Spain are filled with idiots.
Spain's Ruling Party Ousted After Bombings
Incoming Leader Vows to Bring Spanish Troops Home From Iraq
By DANIEL WOOLLS, AP
MADRID, Spain (March 15) - Spain's ruling conservatives crashed to surprise defeat in elections overshadowed by anger over terrorist bombings, becoming the first government that backed the U.S.-led war in Iraq to be voted out of office.
The win by the Socialists over Prime Minister Jose Maria Aznar's favored Popular Party Sunday came amid charges that Aznar made Spain a target for terrorist by supporting the Iraq war.
Spain's incoming prime minister, Jose Luis Rodriguez Zapatero, has pledged to bring home the 1,300 Spanish troops in Iraq when their tour of duty ends in July.
After Sunday's election victory, Socialist Party supporters hold a minute of silence for the victims of last week's terrorist bombings.
Zapatero fell short of a majority in Parliament and will need help to form a government. But it was still a spectacular - and bittersweet - triumph that capped four tumultuous days beginning with Thursday's terror attacks in Madrid, which killed 200 people and wounded 1,500. Critics of the government said it had provoked the attacks by backing the Iraq war.
Next came millions-strong, nationwide street rallies against the railway bombings, smaller ones against the increasingly beleaguered government of Prime Minister Jose Maria Aznar, the arrest of five suspects in the bombings, including three Moroccans, and a reported al-Qaida claim of responsibility in a videotape.
The tape raised the possibility that terrorists aligned with Osama bin Laden had changed the course of a national election. Spain's government has insisted its prime suspect in Thursday's rail bombings was the armed Basque separatist group ETA
In one fell swoop, voters ousted Aznar, whose party was favored to win just days ago, even though he brought Spain eight straight years of economic growth, made it a founding member of the euro single currency, cut unemployment in half and brought a degree of prominence to a long-ignored country.
With 99 percent of the votes counted, the Socialists soared from 125 seats to 164 in the outgoing 350-seat legislature. The ruling Popular Party fell from 183 to 148. It cannot try to form a coalition because it has no virtually no allies in the legislature, where it had enjoyed a majority and was often accused of riding roughshod over opponents.
Rodriguez Zapatero started his victory speech by remembering those killed in the railway bombings. "At this moment I think of the lives that were broken by terror on Thursday,'' he said, then asked the crowd to join him in a minute of silence.
"My most immediate priority will be to fight terrorism,'' he said.
The Spanish Socialist Workers Party ruled from 1982 to 1996 but ran afoul of corruption scandals and was voted out in 1996, when Aznar took power.
More on This Story
Savoring victory again, outside Socialist party headquarters 1,000 jubilant supporters cheered and waved the party's red flag. But they, too, mourned those killed in the railway blasts. "Not all of us are here. Two hundred are missing,'' the crowd shouted.
"I think the party won because of people's frustration people about the Popular Party getting us into the war in Iraq,'' said one of them, housewife Loli Carrasco Gomez, 36.
Of the troops in Iraq, she said: "I hope they all come home and never go back.''
Ruling party candidate Mariano Rajoy, Aznar's hand-picked successor, called Zapatero to congratulate Zapatero.
Outside the Popular Party headquarters, some 100 supporters chanted "Viva Espana! Viva Aznar'' and waved party flags although there was nothing to celebrate.
Aznar chose not to seek a third term, saying he wanted renewal in government and his party.
Pre-election polls had favored his ruling party to win handily.
But on election day voters expressed anger with the government, accusing it of provoking the Madrid attacks by supporting the U.S.-led war in Iraq, which a vast majority of Spaniards opposed.
The government had insisted that its prime suspect in Thursday's rail bombings was the armed Basque separatist group ETA, even as evidence mounted of an Islamic link in the bombings.
The government was accused of withholding information on the investigation to save the election.
Throughout Sunday, voters said they lost faith in the ruling party.
"I wasn't planning to vote, but I am here today because the Popular Party is responsible for murders here and in Iraq,'' said Ernesto Sanchez-Gey, 48, who voted in Barcelona.
03/15/04 05:16 EST
Welcome Ol' Henry your posts are most appreciated here. Any news is good news.
The reason being, Its "Quiet time!".
People forget or don't know that when its "Quiet Time!" its going to be a good time when its over ;)
Thanks again Ol' Henry
Al
[Suppressed Sound Link]
When did NVEI release this?
http://www.newvisual.com/files/rim_ani.pdf
A father watched his daughter playing in the garden. He smiled as he
reflected on how sweet and innocent his little girl was. Suddenly she
just stopped and stared at the ground. He went over to her and noticed
she was looking at two spiders mating.
"Daddy, what are those two spiders doing?" she asked. "They're mating,"
her father replied. "What do you call the spider on top, Daddy?" she
asked. "That's a Daddy Longlegs." Her father answered. "So, the other
one is Mommy Longlegs?" the little girl asked. "No," her father
replied. "Both of them are Daddy Longlegs."
The little girl thought for a moment, then raised her foot and stomped
them flat and said "Well, it might be ok in California or New York but
we're not having any of that in Colorado."
Amazing photos of the USS Cole.
http://www.pianoladynancy.com/recovery_usscole.htm
Wow, your right they sure do put out an lot of info with PRs
Police Say Woman Tried to Pass Fake $1 Million Bill
COVINGTON, Ga. (March 10) - A woman was caught trying to use a fake $1 million bill to buy $1,675 worth of merchandise at a Wal-Mart, and was later found with two more of the bills in her purse, police said.
The United States Treasury does not make $1 million bills, but people can buy souvenirs of such a bill at some stores, police said.
''It looks real, but of course there's nothing real about this,'' Covington Police Chief Stacey Cotton said Tuesday. ''People do crazy things all the time. I think it's just another example of some odd things that occur.''
A clerk at the store immediately noticed the bill was fake when 35-year-old Alice Regina Pike handed it to her on Friday, Cotton said.
Pike then tried to use two gift cards with only $2.32 of value on them to buy the merchandise, but when that didn't work she again asked if the clerk could cash the $1 million bill, Cotton said. The store then called police.
Pike, of Porterdale, was charged with forgery. There was no listing for her phone number in directory assistance, and she could not be reached for comment Tuesday.
Covington is 32 miles southeast of Atlanta.
03/10/04 10:08 EST
Let me guess, you guys are related to Ikanos somehow.
If not can you show me where you got that data from?
"you did know Clinton was impeached didn't you"
I did, I watched the whole thing on CSPAN. I could not belive what I was seeing before me. I was thinking where was Reagan
or John Wayne.We need some one to save us NOW!
Don't know why he was allowed to finish office.
Clinton was 49 and the cow was 22, take away 8 years Clinton would be 41 and the cow would be 14 but Clinton would only have to wait 4 years to legally get fresh meat. I guess those are the morals that our Country was built on, Not! Maybe some where in Asia. Me love you long time or till Hillary finds out lol
As for President George W. Bush
Some people say he lied about WMD being in Iraq. I think they are full of crap.
Bush has 4 3/4 years left to find the WMD. When he finds them what are you going to do then?
Martha
OK, maybe it was 4000 shares not $4000, my mistake.
Some time round 10 a.m., Douglas Faneuil told his boss Peter Bacanovic about Waksal's daughter's sale and Waksal's attempted sale of their ImClone stock.
In total these shares were worth $7.3 million, a tiny fraction (about 2%) of Sam Waksals holdings in his company.
Sam’s daughter Alizas shares were sold for $2.5 million; following SEC rules, Merrill Lynch refused to sell the remaining $4.8 million of the shares since they belonged Sam Waksal, who was the ImClone CEO.
Seven million shares of ImClone stock were sold the same day that Martha sold her paltry sum of 3,928. It begs the question: Where are the other ImClone investigations?
Read it here
http://www.savemartha.com/martha_stewart_trial_what.html
It don't seem right, Martha makes $4,000, tells a lie and looses everything. Bill lies about molesting a girl in the White House and looses nothing?
Na, nothing wrong there
I guess Im no saint myself. I posted this on Spalding Gray's message board about his death.
I was reading this story about a guy I did not know. He was some depressed actor that was believed he killed himself after a few attempts.
I was eating a roast beef sandwich that I got from an Italian deli on the way home from the gym. This sandwich was one of the best that I tasted in a long time. A thought popped into my head, "How can this man kill himself when this roast beef sandwich was soooo good.
So, I wrote a poem called, "Spalding Gray and roast beef" and posted it on the Spalding Gray AOL message board.
Spalding Gray and Roast beef
As I sit here eating this tasty roast beef sandwich and reading Spalding Gray's story, I ponder the thought, If I had a chance to share this great sandwich with Spalding he might have thought twice about entering the dark void.....
Shame on you who prepared Spalding's last sh** sandwich, That is no last meal for any man. But for all we know, he prepared it himself....
They do????
Huh, Must be Aguilera fans
Ah, but you are closer to seeing your goal on top of the pile of garbage then being in the center.
Brings back memories of 2 min ago :)
I have no idea why some people hate Martha.
She came from nothing and built an empire.
I watched a Bio on Martha and there was this gay guy (next door) giving a tour of their neighborhood telling how bad she was and hawking his book. This guy was a jealous man that was trying to compete with the Queen of crafts and lost. I could not believe what I was watching. I wanted to go to one of his book signings and have my wife beat his a**.
Some people say Martha is a bad person. Why is that? Is it what they read in the rags? What they hear from the puppet heads? From envious people? Yup.
Remember, bad people with power and money shut people up and put out their own propaganda.
Nice people with power and money loose it all to bad people.
Al
I forgot to add my wife and I are also Republicans and both have life time membership with the NRA.
Ok, so she was stupid
Being stupid proves she is less of a criminal.
The people that do what she did day in day out, without getting caught are the real criminals. Its hard to catch what you can't see. They went after the stupid inexperienced one to make an example to show what might happen to the pros.
Those pros wish they had the money that Martha lost from being stupid.
Al
Ah, im sure there are people out there that done worse hurt or killed people and got and will get away with it.
Looking for a job?
Shame
FREE MARTHA!
http://www.marthastewart.com/page.jhtml?type=page-cat&id=cat663&navLevel=3&navHistory=&a....
DO NOT UNDER ESTIMATE THE POWER OF GIRL-SCOUT COOKIES!
That is a home I dream about.
A response email from Rich:
NVEI to Glory
Q:
Rich,
Are any of the proceeds from DTG going to funding NVEI? Or would it get it indirectly from you buying the rest of your NVEI options?
What can we expect from NVEI up to August 04?
Thank you for your time,
Al
A:
Dear Al:
I suppose from your chair the "news" of our film project might appear confusing at best or in the worst case somehow misleading by NVEI management. As someone who has always taken the act of disclosure and my word (and thus reputation) very seriously, I want to be very clear in addressing this question.
In August of 2003, I agreed to a reduction in pay and hours worked/wk (by 1/2) in an effort to allow the company to reduce expenses and apply greater resources towards the development of Embarq. About that same time, I had been invited to join a couple of the makers from Step Into Liquid on this new project based on the merits of the work I did on that film. Only after having first obtained the blessing of New Visual, I accepted this offer with the understanding that in no way were my efforts to involve NVC resources in any capacity at anytime.
It is with a certain amount of pride that I say to you now that I fully honored that commitment and worked very hard to finance and market Dust to Glory on my own, without support or assistance from New Visual in any way. To more specifically answer your question-- New Visual, including all members of its management, had absolutely no involvement with the creation, development, financing, or marketing of Dust to Glory. As such New Visual is in no way entitled to any ownership of any kind or to any exploits, assets, or liabilities relating to Dust to Glory in any way.
As for your other question about the future of NVEI, I can only re-iterate what might have been publicly available at the time of my employment. I would however, like to take a moment to express to you that I have every confidence in Brad Ketch, the general direction of the company, and the soundness of the technology. That said, I remain very optimistic about their future.
Please understand that, though I am no longer affiliated with the company, I continue to be a fan of its management and business plan. As you can imagine, after 7 years of service the choice for me to move into another field was a difficult and very personal one. So far, however, it feels like the right move for both parties.
Thanks for taking a moment to seek clarification. I hope this helps.
Regards,
Rich
Sounds good to me :)
PS: just got back from seeing "The Passion of Christ"
All I can say is, Im at a loss for words.
Microsoft: Your Next Phone Company?
It's keeping mum, but the giant has already introduced software that could turn into the killer phone application
On Feb. 12, the Federal Communications Commission ruled that a voice communication between two people using PCs is more like an e-mail than a phone call. This decision on a petition brought by Jeff Pulver, the entrepreneur behind the Free World Dialup Internet phone service, meant that the hundreds of thousands of people who now use broadband connections for voice conversations can continue to do so unmolested by the tariffs that are levied on traditional phone calls to support 911 service and universal access to the phone network.
While Pulver was jubilant, and the operators of a handful of increasingly popular PC telephony services such as Skype sighed with relief, most of the technology and telecom world yawned. Phone calls between PCs remain rare in the grand scope of the telecom universe. Few businesses use these systems, which remain far less developed than cutting-edge corporate-communications systems sold by the likes of Avaya (AV ) and Cisco (CSCO ). Those employ Internet protocol to route calls over data connections, but they rarely use the PC as an origination or termination point.
Replace Pulver, whose system now has 175,000 users, with Microsoft (MSFT ), however, and the FCC ruling could have enormous significance. The software king has for years made noises about augmenting the voice-communication capabilities in its operating system to allow any two Windows PCs to create a voice link over the Net.
EARLY WARNING? "The Pulver petition becomes important for the market when Microsoft pushes a voice product," say Blair Levin, an analyst with Legg Mason and former chief of staff at the FCC under William Kennard during the Clinton Presidency. "If you can turn each Windows PC into a voice device, you suddenly have a whole new phone network that never touches the public switched telephone."
He's clearly not the only one to think that. In April, 2002, a software engineer named Larry Pearson took the stand to testify against Microsoft on behalf of his employer, SBC Communications (SBC ). As one of the seven Baby Bells that emerged from the 1984 breakup of AT&T (T ), SBC was one of the largest communications companies in America, with a near monopoly on local phone service in chunks of 13 states across the West, Southwest, and Midwest.
Yet Pearson claimed that Microsoft, with its dominant position in PC operating systems, might one day use that power to short-circuit SBC's efforts to create a unified messaging service that would make it possible to retrieve voice, e-mail, fax, and other communications over the same platform.
TECH SPREAD. At the time, these concerns seemed premature. Few corporations were using desktop PCs for anything beyond e-mail and instant messaging. And not many consumers had the broadband connections required for voice calls made from PC to PC via the Net -- also called voice over Internet protocol (VoIP). Without broadband, call quality was inferior, and even with broadband it lagged behind the clarity of traditional phone networks.
What's more, Microsoft didn't even have a product similar to what SBC was planning. "It's unusual for someone with close to dominant market share [to argue] to a court that a party with 0% market share in the relevant market of voice should nonetheless be forced to submit to stiff penalties," says Levin.
Fast forward two years, however, and broadband is now in 50 million U.S. households and is spreading at a 50% annual clip, according to Nielsen/NetRatings. On the job, 75% of U.S. workers have a broadband connection. At the same time, VoIP technology has improved enough to entice every major U.S. cable-TV company to offer some sort of phone service to their customers. Not that the average Net surfers needs help turning an Internet connection into a voice connection.
UBIQUITOUS VOICE. As of Feb. 27, nearly 8 million Web surfers had downloaded software from free Internet calling network Skype. Founded by Niklas Zennstrom, who created the popular file-swapping KaZaA application, Skype has built a peer-to-peer community around a high-quality VoIP application that's easy to use (see BW Online 1/6/04, "Skype: Net Telephony as File-Trading"). The latest version even works well over fast dial-up connections.
All of the major instant-messenger software programs from America Online (TWX ), Yahoo! (YHOO ), and Microsoft now boast voice capabilities. And software companies that are building more secure corporate versions of instant messaging have also rolled audio communications into their products.
Against this landscape, SBC's fears of Microsoft look far more relevant than they did a couple of years ago. Over the course of the typical five-year replacement cycle for PCs, the Redmond (Wash.) software giant could distribute such capabilities to the vast majority of computer owners with minimal added cost.
QUICK CONNECTIONS. For instance, the Windows XP operating system already contains so-called session initiation protocol (SIP) software. SIP is an industry-standard technology that defines how computers interact with the public phone network, instant-messaging software, and Internet telephony networks and applications. The Pulver decision effectively clears the way for Microsoft to move forward on these initiatives without worrying about getting tapped to pay charges and fees levied by on regular phone companies and wireless carriers -- and possibly in the future on VoIP providers that don't use direct PC-to-PC connections.
In an effort to start tying these loose ends together, last August Microsoft launched its Live Communications Server (LCS). This piece of software could turn into the killer phone application that SBC feared. Aimed at big corporations seeking to leverage their PCs to create unified communication systems on the desktop, LCS can perform a wide variety of tasks, from creating secure instant-messaging connections to alerting members of a workgroup that a key document has been posted to a virtual whiteboard.
Perhaps most important, LCS, which hooks into both Microsoft Office and Windows Messenger, can be customized to create on-the-fly audio connections between PCs and even groups of PCs.
LOW PROFILE. That has allowed one LCS customer, Siemens, to start supplanting conference phone calls with LCS-based conferences. The German tech company claims that it can save $95 per four-person conference call and 30 minutes of work by eliminating the need to set up a bridge, distribute call-in numbers, or secure online collaboration tools to allow participants to look at Web presentations together. All of those can be handled by LCS. Microsoft, which declined to comment for this article, is keeping a relatively low public profile on LCS and related products.
Should Microsoft move more strongly into the business telephony market before other VoIP providers get big, however, it might yet attract the FCC's attention. Gates & Co. have so far avoided that by laying low and playing nice with the standards bodies that are setting up common protocols to be used in SIP communications. Still, Microsoft will need to convince its customers to upgrade to Office 2003, which is required to get the full communications capabilities of LCS.
"I think the embedding of collaboration tools in Office 2003 is compelling. The question is to what extent can they convince the enterprise that this is worth it," says Nick Shelness, a consultant with messaging and collaboration research firm Ferris Research.
BEHIND-THE-SCENES ROLE? When Microsoft does make a big move for a major share of the Internet phone pie, it will likely face some potent competitors. Leading VoIP gearmakers Cisco and Avaya have staked out strong positions in the field, and Cisco is backing a different technology for VoIP calls, albeit one that cannot connect as easily to PCs and instant-messaging services as SIP can.
So what could develop is a form of "coopetition," where Microsoft partners with system integrators and software providers that distribute LCS, while at the same time competing with them for sales and consulting gigs. Microsoft will also have to consider IBM (IBM ), which has the biggest market share in the so-called corporate-collaboration market and will certainly fight hard to hang onto that lead.
Furthermore, most corporate customers aren't quite ready for Microsoft's vision of a PC-centric communications future. "No one is saying, 'We want to replace our entire telephony infrastructure with Microsoft gear,'" says Jorge Blanco, a vice-president for marketing at Avaya. Blanco sees a future where Microsoft helps provide some of the key technologies but doesn't run the systems.
Things could play out that way. But it's also worth remembering that Microsoft didn't win the browser wars by cozying up to the competition. So don't be surprised if the desktop phone business turns out the same way.
http://www.aol.businessweek.com/technology/content/mar2004/tc2004032_6587_tc076.htm?