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that would be crazy joe who was dumb enough to buy 50,000.
lol...yup...wait and see...
CXN still dead and looks like it's dropping.
c'mon Fred.
they're unloading the shares to some suckers....why else can you buy 240000 shares and the price don't move....Agora is conning everyone with their make believe posts....what a bunch of shysters over there.
Sounds like liarlongs .33 all over again.
Clear Evidence Samsung is the New 'Sony', and Apple's Microsoft-Like Behavior
http://www.mercola.com/2005/oct/20/clear_evidence_samsung_is_the_new_sony_and_apples_microsoft-like_...
The New York Times reports that Apple Computer got a bargain on the flash memory chips that help make its new iPod Nanos so compact. By doing so, Apple has forced up the price of flash memory for other manufacturers, and driven down the price for consumers.
30 Percent Discount for Apple
It's estimated that Apple received about a 30 percent discount on the memory chips from Samsung Electronics in exchange for buying roughly 40 percent of Samsung's total production of the chips this year. That purchase has reduced the supply available for other makers of other MP3 players. As a result, about 200 of these companies in Asia, perhaps half the industry, have gone out of business.
Prices Will Continue to Go Down
Another likely result, since the Nano can be used like a USB flash drive to move files from one computer to another, is that the price of flash drives will drop to compete with the Nano.
Flash memory is being increasingly used for game machines, cell phones, and other devices. Tough competition in the industry means consumers will likely see prices lower, and capacity increase, for some time yet.
New York Times September 29, 2005 Registration Required
--------------------------------------------------------------------------------
Dr. Mercola's Comment:
My first cell phone nearly three years ago was a Samsung. I really hadn't heard much about them but when I did some research on them three years ago I was really impressed. When I was reviewing large screen TVs it was also very clear that they were the head of the class. They make the largest screens and have some of the absolute best technology.
This position used to be held by Sony of Japan, but Sony has had major cutbacks and about the only product they have going for them is their video game division and even that is questionable, as their new portable video game player leaves very much to be desired from my review.
With the recent announcement of Samsung investing a record $33 billion dollars in creating chip plants by 2012 it is beyond clear that they -- not Sony -- are the premiere electronic player in the world.
Althogh the video iPod is now in the news, a few weeks ago the iPod nano was the hottest iPod on the market. In case you did not know it, Samsung provided the NAND flash memory for the Nano.
You might also be interested in the blog post I wrote on the video iPod last week where I reveal which personal video player blows away the video iPod and also how you can "rip" DVDs to compressed video files.
Apple actually followed a Microsoft evil pattern by making a very sweet deal with Samsung. "Bad" Apple put the squeeze on small manufacturers by simultaneously snatching up a good portion of the available NAND flash devices (diminishing supply and driving up costs for other manufacturers) while at the same time offering the
Nano for very reasonable prices forcing other manufacturers to lower their own prices and accept thinner profit margins or go out of business, which is exactly what is happened as nearly 200 Asian businesses shut down as a result of Apple's move.
Sure doesn't seem like Apple is playing fair on this one. Seems to me Apple did the same thing when they introduced their original iPod.
They grabbed up nearly the entire supply of the tiny hard drives that were only being made by one manufacturer which essentially eliminated any competition because there were simply no parts available for them to compete. No one could build a device until another company started to make similar hard drives.
I own six different MP3 players and have carefully analzyed the market and am very confident that for people who desire to easily navigate teaching audio files the Cowon iAudio X5 is, without question, the best MP3 player currently on the market.
There are a number of VERY good reasons for this. I have been travelling the last three weeks and have not had enough time to document the logic that allowed me to reach this conclusion but I wanted to let you know now as many of you may make the mistake and purchase the clearly inferior Apple product.
Related Articles:
IPods Revolutionize How People Listen to Music
The New iPod Killers
Inexpensive Compact Flash Cards
philo..ya outta
send that to old RP.
hmmmm...the ad on the right about Chinese investing
is an AGORA AD????? On Hubbabubba?
http://www.agora-inc.com/reports/TRW/WTRWFA20/
sumtin's smelly here.
Z-Trim Makes Chicago-Area News as a Functional Food That Reduces Fats,
Not Taste
Two separate articles appeared in up to 55 Pioneer Press newspapers in
the Chicago suburbs today, each heralding the benefits of Z-Trim.
The first article, entitled "No-Taste, No-Waste Wonders", covered the
topic of functional foods and the health benefits they carry in addition
to the nutrients they contain. In the article, American Dietetic
Association spokesman Dave Grotto identifies the trend that is creating so
much interest in Z-Trim. "It's very clear consumers are tired of hearing
what they can’t do, and now they want to hear what they can do," he
said.
Also spotting the trend, Robert Kushner, M.D., the medical director of
the Wellness Institute at Northwestern Memorial Hospital, said that
products like Z-Trim illustrate how food companies are responding to
public calls for healthier processed foods.
The second article, entitled 'Functional Foods', reviewed Z-Trim
recipes in the 'Foods' section and related that writer Stephanie Fosnight and
Food editor Carol Mueller were 'impressed' with the full taste, less
fat benefits of Z-Trim. Fosnight remarked that 'If nobody had told us
about the calorie-reducing and fiber-increasing replacements, we never
would have known they were there.'
The articles are posted to the Pioneer Press web site at:
http://www.pioneerlocal.com/cgi-bin/ppo-healthfam?healthfamwhat=healthfam.dat.printable
http://www.pioneerlocal.com/cgi-bin/ppo-food
FOR IMMEDIATE RELEASE October 6, 2005
CONTACT: Phil Versten, Dir. of P.R. (847) 549-6002
About FIBERGEL TECHNOLOGIES, INC.
FiberGel owns the worldwide rights to Z-TRIM for all fields of use.
Invented over many years by Outstanding Senior Research Scientist Dr.
George Inglett (http://www.thesoydailyclub.com/Research/ars2132002.asp) at
the United States Department of Agriculture (USDA), Z-TRIM is a
patented, zero calorie, multi-functional, fiber food ingredient from corn that
lowers carbohydrates, calories, and fat in most foods without affecting
taste or texture. For more information about FIBERGEL TECHNOLOGIES or
to order the product, visit http://ztrim.com
About CIRCLE GROUP HOLDINGS, INC.
CIRCLE GROUP HOLDINGS, INC. (http://crgq.com) is a pioneer of emerging
technology companies. The Company provides small business
infrastructure, funding and substantial intellectual capital to bring important and
timely life-changing technologies to market through all early phases of
the commercialization process.
Forward-Looking Statements
Statements made in this news release that relate to future plans,
events or performances are forward-looking statements. Any statement
containing words such as "believes," "anticipates," "plans," or "expects," and
other statements which are not historical facts contained in this
release are forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently, actual
results could differ materially from the expectations expressed in these
forward-looking statements. Reference is made to the Company's filings
with the Securities and Exchange Commission for a more complete discussion
of such risks and uncertainties.
Copyright 2005 Circle Group Holdings
FiberGel Technologies Inc., Z-Trim, is a trademark of Circle Group
Holdings, Inc.
#
arkie..
didn't the pumps claim that EDIG could sell these digeplayers to the movie studios and load their new screener movies securely into them for viewing?
Well, FF and RP have their heads up their butts again....maybe RP and FF ought to try bribing them with the money they stole on the failed Naz app.
Didn't Fred and RP go to China....
maybe they learned the stock manipulation game over there.
http://www.forbes.com/home/free_forbes/2005/0704/083.html
should be good news for the market
http://news.independent.co.uk/business/news/article315546.ece
more on naked shorting
http://www.investrend.com/articles/article.asp?analystId=0&id=18818&topicId=160&level=16...
StockGate: New Naked Short Selling Developments For Two Nasdaq Companies / FinancialWire®
September 28, 2005 (FinancialWire) Both Taser (NASDAQ: TASR) and Overstock (NASDAQ: OSTK) have reported new developments that have engulfed them as well as up to 35 brokerage and clearing firms, including Merrill Lynch (NYSE: MER) and Morgan Stanley (NYSE: MWD) in the growing national scandal known as StockGate. Both companies are on the SEC’s Regulation SHO threshold list.
September 28, 2005 (FinancialWire) Both Taser (NASDAQ: TASR) and Overstock (NASDAQ: OSTK) have reported new developments that have engulfed them as well as up to 35 brokerage and clearing firms, including Merrill Lynch (NYSE: MER) and Morgan Stanley (NYSE: MWD) in the growing national scandal known as StockGate. Both companies are on the SEC’s Regulation SHO threshold list.
Overstock’s president, Patrick Byrne, produced for the Wall Street Journal sworn declarations from three former employees of Gradient Analytics that he says connects that firm to an alleged plot with David Rocker’s Rocker Partners LP hedge fund to manipulate stock. Gradient said the former employees are disgruntled.
Taser said the U.S. Securities and Exchange Commission has upgraded an inquiry to a formal investigation to include “examining the possible unauthorized acquisition of material non-public information by individuals outside of the company in an effort to manipulate the company’s stock price.”
CEO Rick Smith said the company is “hopeful that the expanded SEC investigation will address all pertinent issues, including the fact that the company has been continuously listed on the Regulation SHO threshold list since its inception in January, 2005, and that recent data from ADP indicates there may be a large improper, naked short position in Taser International stock.”
The Depository Trust & Clearing Corp., reportedly itself under NASD scrutiny for its controversial stock lending program that some, including an 11 state state North American Securities Adminitrators Association task force headed by Connecticut’s chief securities officer, and former NASAA president, apparently believe facilitates the illegal naked shorting industry, has been very secretive about the status of shares for individual companies, stonewalling even companies’ efforts to determine their true ownerships and short positions.
Brokerage and clearing firms are apparently under intense NASD pressure to settle failed short trades in Regulation SHO threshold securities or have their clearance firms do it for them at possible substantive losses.
The NASD is in turn acting under political and regulatory pressure from the 11-state task force.
Lambiase had publicly asked the SEC to “fix” the DTCC “problem” as it was considering the adoption of Regulation SHO last year, but taking a page from numerous U.S. Senators, he and other state regulators have grown tired of waiting for Regulation SHO to do more than simply shine a magnification light on the massive fails-to-deliver problem.
DealFlow said NASD officials are concerned that stock loan programs are being used to settle failed short trades in Reg SHO threshold stocks, which must be closed out voluntarily or through forced buy-ins within 13 days. “The regulators are concerned that the stock loan are being used instead of market purchases to provide the shares needed for settlement, creating new transactions that will ultimately fail to settle as well.”
The state regulators, DealFlow said, have been “highly critical of the SEC's decision to ‘grandfather’ settlement failures resulting from naked short sales up to levels that trigger threshold status under Reg SHO.”
NAASA was particularly concerned about Regulation SHO, because it excluded the small cap market from any meaningful regulation. “NASAA said the proposal included replacing the so-called ‘tick test’ with a rule that would provide a uniform price test using the "consolidated best bid" as the reference point for permissible short sales. This, however, would not address problems relating to the naked short selling of smaller, less liquid securities, because , NASAA argued, the requirement of the consolidated best bids meant it could not be applied to securities that were not subject to real-time consolidated quotes. That included Nasdaq Small Cap, OTCBB, and Pink Sheet securities.
NASAA also questioned the wisdom of grandfathering settlement failures under the threshold level, asking why the SEC was willing to permit significant settlement failures at all.”
“While there are instances when settlement may be legitimately delayed, existing regulations provide for extensions for settlement. If the Commission continues to allow settlement failures, it may well facilitate the harm that the proposal is designed to remedy,” Lambiase warned the SEC.
According to DealFlow, Lambiase urged the SEC to reconsider its stance regarding the role of the stock borrow program operated by the Depository Trust Corp. (DTC). NASAA wrote that as a threshold matter, NASAA believes that the Commission should explicitly prohibit the DTC from lending more shares of a security than it actually holds. The utility of the overall proposed rule would be severely impaired unless the Commission undertakes to implement such a prohibition."
Brent Baker, an attorney with Woodbury Kesler in Salt Lake City and counsel to naked shorting target and eight-month old threshold list company Overstock.com, previously spent 14 years at the SEC, including time in the Division of Enforcement, was quoted as saying he believes that the SEC tried, with Regulation SHO, to put "their finger in the dike" but failed.
“Three or four years ago naked short selling was being perpetrated by promoters in the micro cap world," he says. "they would publish 'exposes' on the Internet... and they would bring pressure on these little companies."
“However, short selling has changed,” noted DealFlow. He believes the SEC does not realize that abusive short selling practices have been adopted by others and are now built into business models of large, mainstream hedge funds.
The business model has proven to be very lucrative.
The Top 400 richest Americans now includes these hedge fund gadzillionaires:
83 Simons, James H 2,700 67 East Setauket, NY Hedge funds
93 Cohen, Steven A 2,500 49 Greenwich, CT Hedge funds
93 Kovner, Bruce 2,500 60 New York, NY Hedge funds
133 Jones, Paul Tudor II 2,000 51 Greenwich, CT Hedge funds
133 Milken, Michael Robert 2,000 59 Los Angeles, CA Investments
164 Druckenmiller, Stanley 1,800 53 New York, NY Hedge funds
207 Griffin, Kenneth C 1,500 36 Chicago, IL Hedge funds
207 Ziff, Daniel Morton 1,500 33 New York, NY Inheritance, hedge funds
207 Ziff, Dirk Edward 1,500 41 New York, NY Inheritance, hedge funds
207 Ziff, Robert David 1,500 39 New York, NY Inheritance, hedge funds
346 Bacon, Louis Moore 1,000 49 London, United Kingdom
384 Cayne, James 900 71 New York, NY Bear Stearns
Meanwhile, the NY Post has reported that traders in Nasdaq stocks are racing to beat a rumored regulatory deadline to close out their positions — or take huge losses as clearing firms do it for them.
“Naked short sales are trades executed without borrowing stock beforehand. Naked short sellers can overwhelm an orderly trading market, since unlike traditional short sellers, there is technically no limit to how much stock can be sold short illegally, noted the Post.
The Post also reported recently that the NASD and numerous state securities regulators, led by Ralph Lambiase of Connecticut's Division of Securities and Business Investments, have vowed to increase scrutiny of naked short sales.
“A buy-in is the worst possible development for a short-seller, since he has to accept any price given,” it stated.
It seems that everytime the DTCC, which is also the target of numerous lawsuits brought by failed companies and a scorching expose in Investment Dealers Digest, gets under pressure, it begins striking out blindly in all directions. FinancialWire can often determine when the heat has been turned up because it is among the media, also thought to have included Dateline NBC, that begins to receive threats from the organization.
In February, the DTCC interfered with FinancialWire’s distribution to Investors Business Daily, and in the past week it sought once more to interfere with another distribution, saying that FinancialWire receives monies for its editorial coverage of the naked short selling issue.
Marshal Shichtman, Esq., attorney for FinancialWire, has been in touch with Proskauer Rose, the outside counsel for the DTCC, warning it of slander, tortuous interference with FinancialWire’s business and because the DTCC is owned by two SROs, the NASD and the NYSE, of First Amendment violations.
Shichtman will be similarly warning the SROs and the directors of the DTCC of what he terms their risks associated with the ruthless, reckless and irresponsible actions of their clearance entity.
In a letter to constituent investor advocate Dave Patch, whose persistence in criticizing Federal regulators over the past several years for shareholder losses at the hands of illegal manipulators was at times a lone quest, often covered only by FinancialWire, Connecticut Division of Securities Director Ralph A. Lambiase, the immediate past president of the North American Securities Administrators Association outlined for the first time the efforts a “working group” of state regulators have been undertaking to assail abusive market practices that Lambiase said has been directly responsible for “an unmistakable loss of investor confidence by the arguably millions of investors who have lost their monies.”
It was an unusual move by Lambiase to outline the states’ enforcement plans in a letter to Patch, who has been vilified and scorned by many top regulators and institutions for his efforts, which includes the maintenance of a website, http://www.investigatethesec.com .
Lambiase said that his efforts, and efforts of others, such as Tanya Solov, Director of the Illinois Securities Department, Tanya Durkee, Deputy Commissioner, Vermont Department of Securities, and Rex A. Staples, General Counsel for NASAA, was stimulated by Patch, and an ever-growing group of concerned citizens who have “continued to champion the issue of reform in the naked short selling area for so long,” and added that it has been those grassroots efforts that constitute the “primary reason we are beginning to see reform of any sort.” Lambiase was clear in stating that it is “your determination and persistence in seeing that this wrong is righted is in part responsible for my interest, as well as that of other state regulators.”
Lambiase, whose initial letter to the U.S. Securities and Exchange Commission stated that the SEC needs to look at the role of the Depository Trust and Clearing Corp. in allowing these abuse practices to continue, said that it seems “clear that had the SRO’s and the SEC exercised greater diligence in enforcing pre-existing rules, Reg SHO would likely have been unnecessary.”
He said his working group has begun meeting with SRO’s and issuers alike, and that it will “continue to exert substantial effort to remedy the remaining abusive practices in naked short selling until we are confident at the state level that the companines in our communities and citizens that invest in them will no longer be the possible targets of abusive naked short sellers.”
It had been previously rumored that the reason the NASD has been issuing subpoenas to a dozen or more brokerages over their “fails to deliver” and their failures to enforce buy-ins is due to those regulating at the Federal level not wanting to be trumped again by a state investigation such as occurred in several Spitzer reform efforts.
Lambiase so far appears to be taking the posture that the state group is ready to step in if the Federal regulators do not, thus “inspiring” the current efforts rumored to be occurring at the Federal level.
To make the point, he told Patch in the letter obtained by FinancialWire that “there remains a substantial distance between REG SHO and the ultimate goal of including substantive protections for small business issuers.”
It is these small businesses in our communities, Lambiase pointed out, “who take entrepreneurial risks to grow their companies through listings on the OTCBB and Pink Sheets. These small businesses not only provide employment for the residents of their communities, but also offer the general public the opportunity to invest in local businesses with promising products or services.
“While it may be true that a number of small companies lack the financial depth to succeed, they are nonetheless entitled to succeed or fail by their own honest business decisions and not as a result of the corrupt acts of abusive short sellers.
In what some believe is another swipe at the secretive DTCC, he said that “without transparency, we cannot, as yet, precisely identify each small business that failed as a direct result of abusinve naked short selling nor quantify the exact number of jobs lost to our local economies when these companies are forced to close their doors.”
In what is an unmistakable prod to the SEC, Lambiase said that institution is “moving slowly forward as Reg SHO in its current state is studied and debated seemingly ad infinitum. While slight modifications to the existing Rule may result from such an approach, a far more threatening pattern of abuse is certain to continue unless wholesale reforms are made to remedy the concerns of the small business community.”
He said that even Congress, whose members have also called the SEC on the carpet for the slow progress associated with Reg SHO may in fact be missing the point that “abusive short selling poses a direct threat to the economic well being of small business and the entire community.”
The 11-state task force reportedly was in serious strategy sessions a few weeks ago.
The New York Post quoted one regulator as saying there is “an epidemic” of naked shorting. Regulation SHO has made that evident for the world to see. Numerous U.S. Senators have called the Regulation fully ineffective, and have repeatedly called upon the SEC Commissioners to get the practice under control.
The Post said that an SEC official confirmed to it “that no complaints have been brought in the nine months since Regulation SHO went into effect.”
It quoted one state securities regulator, Bill Reilly of Florida, as saying he expects the increased effort will result in more voluntary compliance from dealers, as well as enforcement activity.
That may or may not resolve the DTCC “problem.” Recently a stock transfer agent, Transfer Online Inc., had asked then-SEC Chair William Donaldson to put a stop to the control the Depository Trust & Clearing Corp. and Automatic Data Processing (NYSE: ADP) are fast gaining over the transfer business, and to demand DTCC transparency.
Excerpts from the letter, posted at http://www.faulkingtruth.com/Articles/LettersToEditor/1012.html , states: “Over the years as the amount of shares held at DTC has increased it has become more and more difficult to determine who owns the shares, who is trading them and if the trading is proper. This trend, and the resulting problems I will detail below, continues to increase because a minority of the total number of shareholders are reflected on the books and records of the corporation, most activity takes place behind the wall of ownership that is designated as Cede & Co. and neither the company nor the transfer agent has any access to the underlying information.
“Furthermore, DTC recently managed to put through a rule change (Release No. 34-50758A; File No.S7-24-04) that prohibits a transfer agent from representing any company who seeks to withdraw from the DTC system. This change effectively leaves companies with no voice or choice in the management of their stock and their ability to have any transparency as to what is actually taking place in the market in regard to their stock.
“I receive calls from companies seeking information as they watch millions of shares trade in a single day, who watch their share price decrease in value and who have no access to information regarding who is behind the trading of these shares, or if in fact the trades are at all legitimate. As the system now operates, most companies have a large percentage of shares on their books registered to Cede & Co.
“Given the importance of shareholder voting and communication one would assume that the same requirements placed on transfer agents as to accuracy and reporting would be placed on ADP and Cede & Co. as they usually hold or service the majority of the shares owned in any given company.
“I have found; however, that when presented with the tabulation reports from ADP the share totals they report sometimes exceed the total number of shares outstanding for the company. Let me restate this because it is a very important part of my concern about a system that is more and more headed in the direction of increased control by DTC. The shares presented by ADP, that are the shares voted by the brokers on behalf of the shareholders for whom they hold accounts, EXCEED when added to the shareholders of record the total number of shares outstanding.
“Where are these extra shares coming from? Why are there no controls on the number of shares held in the nominee name Cede & Co. vs. the ownership on the books and records of the brokers and why is the company not privy to any information unless it pays whatever fees it is told it must pay by the organizations that control the data?
“In fact, as the system is evolving, DTC is de facto becoming the largest transfer agent in the industry even though it is an organization formed by and working for the interests of the brokerage community. If, ultimately, the S.E.C. is in place to protect investors then this issue can not be ignored because in the end when the market is completely under the control of the brokers and the organizations that represent them then the market can neither be transparent nor fair.”
The DTCC actions in the StockGate mire are the most serious, if not notorious since the agent of two SROs, the New York Stock Exchange and NASD is also peopled by some 21 directors whose companies, such as Merrill Lynch & Co. (NYSE: MER), State Street Corporation (NYSE: STT) and Goldman Sachs (NYSE: GS), are unlikely to support the DTCC in its media censorship.
DTCC board members include Michael C. Bodson, Managing Director, Morgan Stanley (NYSE: MWD); Gary Bullock, Global Head of Logistics, Infrastructure, UBS Investment Bank (NYSE: UBS); Stephen P. Casper, Managing Director and Chief Operating Officer, Fischer Francis Trees & Watts, Inc.; Jill M. Considine,Chairman, President & Chief Executive Officer, The Depository Trust & Clearing Corporation (DTCC);
Also, Paul F. Costello, President, Business Services Group, Wachovia Securities (NYSE: WB); John W. Cummings, Senior Vice President & Head of Global Technology & Services, Merrill Lynch & Co. (NYSE: MER); Donald F. Donahue, Chief Operating Officer, The Depository Trust & Clearing Corporation (DTCC); Norman Eaker, General Partner, Edward Jones; George Hrabovsky, President, Alliance Global Investors Service; Catherine R. Kinney, President and Co-Chief Operating Officer, New York Stock Exchange; Thomas J. McCrossan, Executive Vice President, State Street Corporation (NYSE: STT); Bradley Abelow, Managing Director, Goldman Sachs (NYSE: GS); Jonathan E. Beyman, Chief Information Officer, Lehman Brothers (NYSE: LEH); and Frank J. Bisignano, Chief Administrative Officer and Senior Executive Vice President, Citigroup / Solomon Smith Barney's Corporate Investment Bank (NYSE: C), Eileen K. Murray, Managing Director, Credit Suisse First Boston (NYSE: CSR); James P. Palermo, Vice Chairman, Mellon Financial Corporation (NYSE: MEL); Thomas J. Perna, Senior Executive Vice President, Financial Companies Services Sector of The Bank of New York (NYSE: BNY); Ronald Purpora, Chief Executive Officer, Garban LLC; Douglas Shulman, President, Regulatory Services and Operations, NASD; and Thompson M. Swayne, Executive Vice President, JPMorgan Chase (NYSE: JPM).
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Apple Will Replace iPods With Broken Screens
September 28, 2005 (FinancialWire) Apple Computer (NASDAQ: AAPL) said it will provide free replacements of the new iPod nanos with broken screens. Responding to complaints by customers of screen problems, the company said it had found the source of the problem.
StockGate: New Naked Short Selling Developments For Two Nasdaq Companies
September 28, 2005 (FinancialWire) Both Taser (NASDAQ: TASR) and Overstock (NASDAQ: OSTK) have reported new developments that have engulfed them as well as up to 35 brokerage and clearing firms, including Merrill Lynch (NYSE: MER) and Morgan Stanley (NYSE: MWD) in the growing national scandal known as StockGate. Both companies are on the SEC's Regulation SHO threshold list.
Yahoo Backs New Flash Card
September 28, 2005 (FinancialWire) Yahoo Inc. (NASDAQ: YHOO) said customers who subscribe to its digital music service can use the new memory card from SanDisk Corp. (NASDAQ: SNDK) that lets consumers move digital video and music among devices like cell phones and computers without violating copyright protection.
Consumer Reports Money Adviser Says Aging Baby Boomers Should Consider Roth IRA Accounts Over 401k Plans
9/27/2005 5:00:00 PM
--------------------------------------------------------------------------------
To: National Desk
Contact: Alberto G. Rojas, 914-378-2434 or arojas@consumer.org
YONKERS, N.Y., Sept. 27 /U.S. Newswire/ -- Consumers have all been told to "max out" their 401k plans to amass money for retirement. But, research done by Consumer Reports Money Adviser, the personal finance newsletter published by the editors of Consumer Reports and Boston University economist Lawrence Kotlikoff, Roth IRA accounts could be a better choice over 401k plans for most Americans planning to retire soon. Aging consumers sticking religiously to their 401k could actually be decreasing their spending power upon retirement.
Typically, Roth IRA accounts provide no up-front deduction but impose no tax on withdrawals. Another choice, saving on your own- accumulating regular assets without a tax-deferred envelope like a 401k-is a much better tax deal than it was in the past, particularly if you invest your savings in stocks. The reason: Capital gains and dividends on stocks are now taxed at a maximum rate of 15 percent. If a consumer retiring today has the exact same stocks within her 401k she would pay ordinary income taxes at a higher 25 percent income-tax rate when she withdraws the money, if her income is between $29,700 and $71,950.
With the help of Boston University economist Lawrence Kotlikoff, CRMA guides consumers through the decision process by providing answers to questions such as:
-- Does the Roth IRA always beat out the 401k?
-- How does the Roth IRA compare with the 401k?
-- How will future tax hikes affect the withdrawals from a 401k? The Roth IRA? Personal investments?
-- How might contributing to a 401k affect future Social Security income? How is this different for a Roth IRA or personal investments?
-- How to choose the best plan
While most Americans who adhered to the 401k mantra are happy they did so, it turns out that having a decent amount of spending power in retirement depends mostly on willingness to save early and often. Ultimately, the editors of CRMA recommend a two- pronged strategy: Invest the maximum in a Roth IRA. Then plow at least enough into your 401k to get the full employer match. That is, save and save again. A summary of the report will be available free of charge at http://www.ConsumerReportsMoneyAdvisor.org?source=CR30 .
Insurance Companies Get Stingy
Consumers who think that insurance companies will graciously hand over a check after suffering personal injury or material loss should think twice. According to a report in the October 2005 issue of Consumer Reports Money Adviser, insurance companies are getting more aggressive in scrutinizing claims. Insurance industry representatives and experts agree, saying that carriers are getting tougher for several reasons, including fraud, immense losses in Florida, and massive settlements in favor of policyholders. However, because there's no national agency that tracks data on property claim payments, it is hard to tell if insurers are getting better or worse at paying claims.
The CRMA report shows consumers how to shop for the right insurance carrier and how to increase the odds of them paying up, with the following steps:
-- Find out who is complaining against a prospective carrier. The National Association of Insurance Commissioners' Web site at http://www.naic.org/cis/index.do will do a company-by-company search. The site will also allow you to check on the type of complaints filed against insurers and complaint trends.
-- Check up on the company's financial health. Go to insurance rating companies such as A.M. Best, which breaks down financial- strength into two general categories: secure and vulnerable. Avoid companies rated B or below; they are consider vulnerable.
-- Use the Internet to find a company's legal or customer problems. To find the Ratings for homeowners insurance companies, go to http://www.ConsumerReports.org?source=CR31 and click on the Personal Finance page.
-- Understand what's covered in the policy. Most folks understand the deductible is the amount of loss you pay for, for instance, and the premium is what they pay for the coverage. But other terms are trickier and need to be explored and understood.
Cut the Phone Bill
Millions of Americans who use their cell phones for long distance but still have long-distance service at home may be overspending. The Consumer Reports Money Adviser suggests that consumers can drastically cut their phone bill by dropping their carriers and instead use their cell phones or a calling card when making long distance calls from home. The cards, which have become ubiquitous in the marketplace, have competitive rates that rival those offered by traditional long-distance plans.
But with so many cards on the market, trying to find the right one can be another costly game. The editors at CRMA compared 15 prepaid domestic phone cards purchased from major retailers and found that the best cards were the ones with 24-hour toll-free customer-service numbers, had either no expiration date or one far in the future, and offered recharging via an 800 number for convenient continuation of service. Among the top performing were cards from Costco/MCI, Sam's Club/AT&T, and BJ's Wholesale Club/MCI.
In addition to providing information about the best calling cards, CRMA also helps shoppers recognize, avoiding, and reporting abusive card issuers.
http://www.usnewswire.com/
-0-
/© 2005 U.S. Newswire 202-347-2770
refresh my memory
didn't EDIG have a cure for this?
http://apnews.myway.com/article/20050928/D8CSUVFG0.html
from gernb1
APS goes handheld in Hamburg
Top of page
APS (Hall 11, Stand 1402) is displaying its digEplayer at this year's WAEA Conference and Exhibition.
According to APS (a subsidiary of Wencor), the digEplayer 5000, winner of the 2004 IFE product of the year award, is the world's first self-contained, hand held portable video on demand entertainment unit.
The system is about the same size and weight as a portable DVD player and contains a 40 gigabyte hard drive. It is typically programmed with 10 or more movies, plus television shows, cartoons, videos and music and has more than 10 hours of battery life.
APS says it currently has content provision agreements with Universal Studios, DreamWorks SKG, Buena Vista, Warner Brothers and 20th Century Fox.
Chris Wood, APS' vice president of operations, said that the company has been in talks with some business aircraft providers. 'The digEplayer was on trial with NetJets last year and they really liked it. We are currently working on a business model for the business jet market as it is an area we would like to get into.'
The system benefits from no installation costs; no additional weight or wiring added to the aircraft; up to 100 hours of entertainment; and superior picture and sound quality compared with DVD players or overhead IFE systems.
--------------------------------------------------------------------------------To close to be a coincidence?...gern
Atlas Air to enter 'difficult' business jet market
Top of page
Atlas Air Entertainment Concepts, content providers of in-flight video entertainment, says it is set to enter the business aircraft market.
'Through WAEA this year, we have had the opportunity to speak to clients about providing in-flight entertainment content for business jet passengers and we are planning to enter this market,' said Eric Silverstein, the company's vice president.
'There are, of course, some further investigations that we need to carry out. Firstly, we need to ascertain what part of the market will represent a commercially viable business and secondly, we need to find a secure content delivery system.'
However, the business jet market is very different to the commercial market. 'With commercial customers, one airline will have a large fleet containing many aircraft, so we will provide content for the entire fleet.
'This obviously isn't the case for most business jet owners, as most of them will only have one or two aircraft, which makes it more difficult to make it commercially viable,' said Silverstein.
This is also interesting from Atlas website...
Please contact our crew for further information:
@ Management
@ Sales
@ Programming
@ Licensing
@ Logistics
@ Cruise Ships
@ Controlling
(This is a re-release if you missed the recent TV news shows. They can
be seen by clicking the links below)
Italian Food Markets Trimming Trans and Saturated Fats with Z-Trim
For aficionados of Italian cuisine who would prefer it with fewer
calories from fat, FiberGel Technologies has great news. The August and
September was accented with Italian food partnerships for Z-Trim, the zero
calorie fat replacement specialty ingredient made from corn, soy or
non-GMO oat fiber.
Over the past couple of months, FiberGel Technologies has made news
with Z-Trim’s use in various food, bakery and distributor lines, while
news coverage also focused on Italian restaurants, and in Italian food
products such as salad dressings and frozen deserts distributed by
various food companies.
In St. Louis, for example, Fox News produced a 4-minute segment on how
famed chef and restaurant owner Joe Sanfilippo uses Z-Trim in his
restaurant, J.F. Sanfilippo’s, to replace up to half of the fats in sauces,
dressings and deserts. Patrons, reporters and nutritionists featured in
the segment could not taste the difference between the traditional
recipes and the lower fat Z-Trim versions. The news segment can be viewed
at http://ztrim.com/foxtv.html
Z-Trim’s use by another favorite St. Louis restaurant, Candicci’s was
featured in a similar story on another network three weeks prior. That
link is at:
http://showroom.multivisioninc.com/share.do?id=17319&key=OKTl1bl7xE6XzxNLLq3LnOUHcEF47IXG&em...
In addition to the growing popularity of Z-Trim for incorporation into
menu items in Italian restaurants, FiberGel has fulfilled orders from
other Italian food interests, including manufacturer/distributors. A
well-known Italian food products company, for example, will use Z-Trim in
their brand name salad dressings, to be sold directly to restaurants
and grocery chains. The company, whose name has been omitted for
competitive reasons, has been in business for over 30 years.
As well, Z-Trim’s value as a healthy, zero calorie fat replacer in
deserts is demonstrated in another food company’s line of frozen Italian
deserts, per an agreement FiberGel has with a maker of Italian pastries.
"This agreement with this company to include Z-Trim in their products
is important to the progress of Z-Trim," said Rick Harris, VP of sales
and marketing. "The frozen food industry is one of our target markets."
These products will be sold in major food store chains in nine states.
Z-TRIM Product Line
The Z-TRIM product line consists of Z-TRIM zero calorie fat replacing
Gel, Z-TRIM zero calorie fat replacing Powder, DON’T WORRY EAT HAPPY
PAPAYA SEED GOURMET DRESSING (50% less fat and 40% fewer calories), DON’T
WORRY EAT HAPPY Awesome Chocolate Chip Cookies (25% less fat and
calories), DON’T WORRY EAT HAPPY Outrageous Oatmeal Cookies (25% less fat and
calories), DON’T WORRY EAT HAPPY Phenomenal Fudge Brownie (33% less fat
and cholesterol free), DON’T WORRY EAT HAPPY Premium Flour Blend (25%
less fat, 80% less carbs, 10 times the fiber), NATS and NATS FOR PALM
OS.
About FIBERGEL TECHNOLOGIES INC.
FiberGel owns the worldwide rights to Z-TRIM for all fields of use.
Invented over many years by Outstanding Senior Research Scientist Dr.
George Inglett ( http://www.thesoydailyclub.com/Research/ars2132002.asp )
at the United States Department of Agriculture (USDA), Z-TRIM is a
patented, zero calorie, multi-functional, fiber food ingredient from corn
that lowers carbohydrates, calories, and fat in most foods without
affecting taste or texture. For more information about FIBERGEL TECHNOLOGIES
or to order the product, visit http://ztrim.com
About CIRCLE GROUP HOLDINGS, INC.
CIRCLE GROUP HOLDINGS, INC. ( http://crgq.com ) is a pioneer of
emerging technology companies. The Company provides small business
infrastructure, funding and substantial intellectual capital to bring important
and timely life-changing technologies to market through all early phases
of the commercialization process. All Company press releases are
available at http://www.crgq.com/HTML/breakingNews.html
Forward-Looking Statements
Statements made in this news release that relate to future plans,
events or performances are forward-looking statements. Any statement
containing words such as "believes," "anticipates," "plans," or "expects," and
other statements which are not historical facts contained in this
release are forward-looking, and these statements involve risks and
uncertainties and are based on current expectations. Consequently, actual
results could differ materially from the expectations expressed in these
forward-looking statements. Reference is made to the Company's filings
with the Securities and Exchange Commission for a more complete discussion
of such risks and uncertainties.
# #
Re: HandHeld News on Shephard
By: Tinroad in EDIG | Recommend this post (0)
Sun, 25 Sep 05 9:58 PM
Boardmark this board | eDigital Msg. 06199 of 06200
(This msg. is a reply to 06194 by randman)
Jump to board:
Jump to msg. #
WAEA: Handheld pot still boiling merrily
September 23, 2005; Hamburg – HANDHELD IFE continues to hit the headlines, with two new entrants unveiling their offerings at the show, the biggest name in IFE announcing a launch customer, and one formerly promising player deciding to throw in the towel.
Into the decision mix have come Californian company Global AirWorks, with its Airplay, and Dublin-based start-up Airvod Entertainment Systems, offering Mach5. Mighty Panasonic is showing off the first examples of its eXpress and yesterday announced Mexicana as the launch customer. But Astronics, which acquired the rights to General Dynamics’ YES! earlier this year, has decided not to pursue development to this tablet PC-based system, preferring to focus on its core aircraft-power strengths.
Panasonic expects to see production eXpress units flying with Mexicana in the first quarter of next year. The company says it will announce another customer shortly, and that it too could be operational with eXpress before the end of March.
“The level of interest here has been fantastic,” Panasonic Avionics business development director David Bruner told Inflight Online yesterday. “Airlines are coming to us with two requirements in mind: they want to put IFE into smaller aircraft, or they see eXpress as a means of restoring service in the event of failure of part of the primary in-seat system.”
Though the units on show here are very close to production configuration, some development work continues, according to Bruner. “Ruggedness and reliability are a continuing focus for us,” he said. “Even now we’re putting in tooling changes to make the product tougher still.”
Panasonic is confident that its arrangements for the supply of content are equally robust. “Our digital rights management approach is endorsed by all the major studios,” Bruner said. “Some studios have already said they will give us content. But we plan to ship units to all the majors immediately after the show so that they can try to crack our security and satisfy themselves that it really works.”
eXpress logistics will be handled by a ground-based charging loading station. Located in secure premises at an airline main base, it will be operated either by Panasonic or by the airline itself. Functions include content refreshment on a daily, weekly or monthly basis, as required by the airline, battery recharge, and collection and distribution of usage statistics via Panasonic to the airline and studios.
Taking on the might of Panasonic, not to mention established players APS/Wencor (digEplayer and the semi-embedded digEsystem) and IMS Inflight (PEA, P-Series), are new boys Global AirWorks and Airvod. The former “soft-launched” its AirPlay through its Website in the run-up to the show. But Dublin-based Airvod sprang fully formed onto the scene at WAEA 2005.
AirWorks, part of the Global ePoint consumer electronics group since May 2004, started developing Airplay 12 months ago, according to IFE programme manager Donovan Nguyen. “The AirPlay on display here is a first-generation unit,” the 20-year IFE industry veteran told Inflight Online yesterday. “We brought it to the show to gauge the response of potential customers. Any resulting changes will be fed in over the next three months, and we aim to have first production examples ready before the end of the year.”
A neat unit weighing around 900gm with battery and measuring about 6in by 4in, Airplay was designed in the USA by AirWorks, incorporates electronic components sourced in Korea, Japan and Taiwan, and will be manufactured in Taiwan by a Global ePoint subsidiary.
An 80Gb hard disc supplied by Global ePoint provides capacity for up to 50 films, 20 games and music. Other features include a 7in high-resolution TFT screen, a lithium-polymer battery supporting up to eight hours of playback, and a USB 2.0 port for content loading. Airworthiness measures include a polycarbonate flame-retardant casing with an anti-electromagnetic interference coating on the interior.
“Several airlines have spoken to us here,” reported Nguyen. “They include a leading European airline: they didn’t know about us before, and now they are reopening their current handheld selection process to allow us to tender.”
With a lengthy background in the design and installation of IFE and commmunications provision for the airline industry, AirWorks is already putting thought into its arrangements for supporting AirPlay in the field. It is planning to offer a support package that would include the provision of AirWorks personnel at the airport to distribute and collect the units and manage content reloading battery recharge. “Service is central to the whole AirPlay concept,” said Nguyen.
If anything is likely to slow AirPlay’s arrival on the market, it could be content provision. AirWorks is only now addressing the need for encryption and has yet to open negotiations with the studios.
Nguyen sees the AirWorks relationship with parent company Global ePoint as a major strength of the AirPlay effort. “The system is largely designed and built in-house, with no major outsourcing,” he said. “And the large production volumes already generated by associated Global ePoint products mean it will be possible to offer AirPlay at a very competitive price. We’re confident that we can do better on price than the competition.”
Equally confident on the price front is Airvod chief executive Terence Bonar. “We are very confident that we will do better than the competition on price,” said Bonar, who as technical director of IFE services company Inflight Dublin oversaw the introduction of APS/Wencor’s digEplayer with a number of European airlines.
That seems to have been an education for Bonar: “The first companies into the market have fine products but have also made a few mistakes,” he observed. “We hope to avoid those errors.”
Airvod plans to start delivering in volume to two customers – one major, one smaller carrier – at the end of the first quarter of next year. In the meantime, development work continues on schedule, according to Bonar. The company is particularly keen to see that its MACH5 product meets all airworthiness requirements and is pursuing DO-160 environmental certification. “We will meet the airworthiness requirements,” said Bonar. “We think the consumer electronics approach being adopted by other vendors is flawed.”
At first sight, MACH5 looks much like the other handheld offerings, with its 60Gb hard drive, 1.5lb weight, 10-hour battery and 8.4in screen. But Bonar believes his company’s offering includes three features that make it stand out from the crowd: payment by pre-paid card, Ethernet-based content loading, and built-in usage-tracking software.
“Our prepaid cards will be sold as part of the normal cabin sales process in the aircraft and then swiped to activate the units,” Bonar explained. “This will eliminate the need for credit-card handling, with its onboard server and complex logistics. And because all card sales will be logged through the cabin staff’s handheld sales terminals, there will be a robust log of transactions that is lacking in other arrangements.”
Airvod believes that its Power-Over-Ethernet content loading provision will support much speedier loading and impose less pressure on the carrier’s turnround schedules. With a capacity of 2Gb/sec from the content server to an array of switches, and 100Mb/sec from the switches to the individual devices, the system will load content as fast as the built-in hard drives can receive it. “If needed, we will be able to load over a thousand devices simultaneously,” said Bonar.
The company says that its Device Intelligence System offers airlines and their content providers an unprecedented ability to track and record how passengers use the units, yielding intelligence that can be downloaded quickly over the Ethernet link to support new content choices and provide suppliers with verifiable information on how their content is being used.
Airvod has put a lot of work into content security, according to Bonar. “We are using the industry-standard algorithms plus proprietary measures of our own,” he said. “These include a private encryption key carried on every prepaid card.”
MACH5 units will be supplied to the studios within the next few weeks for the customary security test-to-destruction work. “We expect to start securing studio agreements within that time,” Bonar said. “But we already have enough agreements in principle to support the initial service for our principal customer.”
Another MACH5 strength is its screen, Bonar said. Not only is it larger than those of other custom-built handhelds, but its 4:3 aspect ratio means that it accommodates standard IFE content exactly, with no annoying black bars at top, bottom or sides.
“We’ve seen overwhelming interest in what we are doing,” Bonar concluded. “It’s going to be a difficult market. But there’s a potential for airlines to generate significant revenues, and we think we’re in good shape to help them do that. We’re offering a cost-effective solution that will yield return on investment in the shortest possible time.”
Airline executives contemplating the ferment in the handheld sector may well breathe a sigh of relief at the news that the number of contenders to be taken into account has been reduced by one following Astronics’ decision to withdraw from the market.
“We’re not going forward with YES!,” Astronics executive VP Mark Peabody said earlier this week. “But we are under contract to supply some of the related power and data distribution technologies to the major IFE vendors as well as Airbus and Boeing.”
The handheld market’s loss could turn out to be a gain for the providers of in-seat systems. One of the Astronics products featured here is the company’s Seat Power Box, an integrated unit capable of powering IFE, laptops and, potentially, seat actuators.
“That could yield a box-count reduction from three to one in a first-class seat,” commented Peabody. “What’s more, we have also incorporated a data capability in a proof-of-concept unit that is now flying on the Connexion One demonstration aircraft. We know it works – it’s now up to the IFE vendors to adopt it.”
By: graupmaca
25 Sep 2005, 03:43 PM EDT
OK, NOW HEAR THIS: You all thought that the new law would take effect soon, you know Sarbanes, Oxley., etc. or as they now call it the "fraud" law..
well, guess what...the SEC just voted 5-0 to extend that requirement another year...
so now all these companies that don't report will now have another year to de"fraud" investors..
too bad...here's the news article:
http://www.fortwayne.com/mld/journalgazette/business/12738999.htm
OT: OK.......I imagine now would be a fine time to put out a PR or two to help.
I'm sure these company execs know when the right time is and use it to their advantage. I haven't seen any insider movement lately either.
Unfortunately that writing on the wall may as well be in a different language..just need to get off the duff and learn it.
it'll be interesting to watch.
Thanks.
CXN
Posted by: friendlyfred
In reply to: HotrodHans who wrote msg# 71387 Date:9/25/2005 8:10:37 PM
Post #of 71390
OT: It is getting ready to break a major downtrend line which signals the markets unwillingness to either sell off or short it lower. If it honors the line it will probably drop further but it doesnt seem to be doing that. Many traders and investors will buy if it shows chart strength.
OT: Hmmmm...they sure aren't doing anything in doors other than the latest PR is they're selling in Japan.....like the Japanese need a fat sunstitute....lol.
Thanks.
OK to put your reply on the CXN board?
OT:CXN....I have no idea why
unless it's charts only?
Ameritrade to Offer Short Sales of $5 and Under Stocks
September 20, 2005
The newest site feature on Ameritrade is that there is a new way to trade small cap stocks. It is now possible to short sell stocks under $5. No longer are market makers only able to engage in short sales of smaller companies. Another change coming soon will be free level two quotes for pink sheet securities. This should come in direct competition with many brokers such as Alphatrade, that have long thrived on providing special small cap services. Yet, when promoting these new features, Ameritrade makes it clear to point out that when trading OTCBB and pink sheet securities, you can lose your entire investment. It's a no brainer, and so is there ability to finally offer these services to investors. It has been a long time coming.
http://www.antandsons.com/blogger.html
Freddy...mr. trigger finger..lol
hey, like you said, with no news...look out below.
but i imagine Amtrak will bail us out with their 200 units or so.
Subject: OT - is it day over there yet,, lol
From emit
PostID 423092 On Tuesday, September 20, 2005 (EST) at 10:03:07 PM
--------------------------------------------------------------------------------
Sep 20, 2005
- Congress Sells America Short
by Mark Faulk
In yet another twist in the stock market scandal known as Stockgate, the Faulking Truth has learned that Senator Richard Shelby (R-AL), Chairman of the Senate Banking Committee, has shelved a planned Senate Subcommittee Hearing investigating the issue. Originally scheduled for February of this year, and then postponed several times, the hearing, which has been advocated by Senator Robert Bennett (R-UT), has been cancelled indefinitely.
According to a reliable source inside of the planned investigation, ''The authority and the responsibility to take the necessary steps to deal with the issue of naked short selling lies squarely at the feet of Senator Shelby, and he has chosen not to allow the planned Senate Banking Subcommittee hearing to go forward.'' In an earlier interview with the same source, we were told that ''Senator Shelby tends to grab things like this for his own purposes, and his own purposes don't always mesh with what's best for the public.''
Translation: Senator Shelby has sold out America in the name of special interests, and sold out the small investors to the hedge funds and their multi-millionaire clients. According to a trader who has been in the business for over 20 years, ''the issue of naked short selling, or to put it more bluntly, 'stock counterfeiting', affects nearly every person who has ever bought or sold stock or invested in mutual funds. This scandal has cost investors and companies trillions of dollars, cost our country billions in tax revenues, and has found its way into the hands of organized crime and terrorist organizations.''
While Congress and the SEC, who are and should be responsible for insuring that our markets are fair and honest, do nothing as company after company is forced into bankruptcy, and while private investors lose millions of dollars every single day, offshore hedge funds, whose clients are already multi-millionaires, continue to move money out of America and into tax havens in Bermuda and the Cayman Islands.
When the stock market began its precipitous crash in 2000, eventually losing 38% of its value (with NASDAQ stocks losing 60%) and trillions of dollars, that money didn't simply ''disappear.'' It just changed hands, from long investors to hedge funds and short sellers, and much of it moved was moved to offshore tax havens, out of our economy, out of our tax coffers, out of America. It is the largest money drain in the history of our country, and thanks to the inaction of Congress and the SEC, it is still going on every day.
In the meantime, an eleven state task force, under the auspices of the North American Securities Administrators Association, has begun its own investigation into naked short selling, and it already plotting a strategy to deal with the massive scandal. In a September 8th letter from Ralph Lambiase, the head of the Connecticut division of securities and business investments, who is heading the task force, to Dave Patch, editor of www.investigatethesec.com , Lambiase says:
Members of Congress are confronted with a myriad of constituent concerns, many of which may, at first blush, appear to have a more direct affect on constituents than the problem of abusive naked short selling. In fact, abusive short selling poses a direct threat to the economic well being of small business and the entire community.
Congressional legislators want and, by necessity, must have the utmost confidence in governmental agencies’ capacity to carry out their legislative mandates. The SEC is moving slowly forward as REG SHO in its current state is studied and debated seemingly ad infinitum. While slight modifications to the existing Rule may result from such an approach, a far more threatening pattern of abuse is certain to continue unless wholesale reforms are made to remedy the concerns of the small business community. Without further substantive reform to REG SHO, many more small companies in our communities will succumb to failure - not through the mechanism of the marketplace but at the hands of manipulators.
Why, once again, are the states being forced to deal with issues that Congress should be responsible for? It was former New York Attorney General Eliot Spitzer who uncovered abuses in the stock market in 2003....while the SEC did nothing....and now it's a consortium of state officials who are spearheading efforts to once again reform the stock market....while Congress and the SEC does nothing.
This is no longer an issue that can be dismissed as speculation. The evidence is clear and unmistakable. Since the SEC implemented REG SHO, many well known companies have been listed for significant ''failure to deliver'' of stock transactions, many since the very first day that the list was issued (172 days and counting). Billions of dollars in lawsuits have been filed by companies and stockholders against brokerage firms, hedge funds, and the SEC and DTCC themselves, and the NASD has requested information from brokerage firms to deal with what regulator called an ''epidemic of naked short selling.''
So what will it take for Congress to act in the best interest of its constituents, instead of caving in to special interest groups and the ultra-wealthy? According to our source inside of the aborted subcommittee hearing, while Senator Bennett, who grilled former SEC Chairman William Donaldson on the issue of naked short selling in March of this year, ''remains very committed to this issue, he does not have the authority to bring together a hearing at this time. What has happened is that the enormous pressures on the committee have simply tipped them from being able to raise this issue to a level where a hearing can be held. There simply isn't enough pressure from the grassroots, from constituents, to force a hearing.''
So there you have it. Senator Shelby, and all of the other members of the Senate Banking Committee, apparently want to hear from everyone who has been ripped off in the stock market because of naked short selling. We'll post a link to the Senate Banking Committee members, so you can contact every one of them, but in the meantime, Senator Shelby's phone number in Washington is (202) 224-5744, and his email address is senator@shelby.senate.gov Give him a call, and tell him what you think. I'm sure he'll be glad to hear from you.
--------------------------------------------------------------------------------
(Editor's notes: I was asked to appear before the Senate Banking Subcommittee Hearing originally scheduled for this past February. If they ever decide to pursue this issue, I'd just like to say, for the record, that I'm still available....so Senator Shelby....call me.)
(P.S. Senator Shelby's office didn't return my phones calls requesting comments for this article.)
--------------------------------------------------------------------------------
To contact members of the US Senate Committee on Banking, Housing, and Urban Affairs, go here and click on the members' names:
http://banking.senate.gov/index.cfm?FuseAction=Information.Membership
--------------------------------------------------------------------------------
Add your name to our Stockgate Activist mailing list on our homepage, and voice your opinion on our Stockgate forum on our new Message Board at http://www.faulkingtruth.com / We will email you only when we have new articles or information dealing with this issue. Please link the articles everywhere you can, post them on stock message boards, and send them to the appropriate public entities. To enact positive change requires positive action.
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--------------------------------------------------------------------------------
**BREAKING NEWS - Neptune Technologies (NTB: TSX-V) Announces Revenues of $5,000,000 + In Annual Financials. A 123% increase over last year. Visit Neptune from the Canadian pull-down menu.
a good bout of the flu is free and works better
;o)~
you noticed that too...huh!
Others are getting contracts while we're showing them next time.
thankyou Fred.....
you're much better at this than politics.
Is triangulate the same as strangulate?
your Bud,
HRH
From emit
PostID 421911 On Wednesday, September 14, 2005 (EST) at 8:46:26 PM
--------------------------------------------------------------------------------
New from O'Brien - Road to Ruin
http://bobosrevenge.blogspot.com /
Wednesday, September 14, 2005
A Well Traveled Road To Ruin
I’ve been reading an outstanding history of the 1980’s S&L debacle, the appropriately named In$ide Job, by Pizzo, Fricker and Muolo. There are more than a few striking similarities between the disaster it chronicles, and the current topic of NCANS’ and my attention – hedge funds, and the abuse of the system that FTDs and associated market manipulation represent.
First and foremost, what is obvious in reading the book is that a very small nucleus of very bad apples successfully raped and pillaged the thrift industry of many hundreds of billions of dollars. This was not a widespread series of isolated individuals who all happened to have the same larcenous idea at the same time – rather it was a group of predators who all were intertwined in a Gideon’s knot of complex flim-flams that wound up costing the nation more than the then national debt.
What is shocking is that so few individuals could so dramatically destroy so much wealth, and leave the taxpayers footing the bill. Follow along and you will see why I believe that there are such strong similarities between that financial scandal, and the hedge fund/manipulation/naked short selling scandal that is unfolding even as we speak.
First, understand that what enabled the fleecing of a country’s banking system was deregulation – the reduction of regulations that had been in place to prevent widespread abuse of the industry – specifically, the elimination of the rule that limited brokered deposits (deposits from entities looking for the highest daily interest rates, which were brokered by guys whose business it was to locate and direct money to the best deal of the day) versus locally generated deposits, and the elimination of regulation governing loan types. The thinking was that the market would work itself out, and that capitalism would prevail, creating a sort of financial evolution in which the superior models survived (note the striking parallel to the elimination of the uptick rule for short selling, as well as the effective elimination of prompt delivery requirements - in violation of 17(a), and in violation with the primary mandate of the SEC from 1934).
This flew in the face of everything we know about human behavior and history, but everyone just kind of ignored that, and pretended that things were different this time.
A lack of oversight and regulation where money is involved invites in the wolves, and they are not a particularly civilized nor conscientious bunch.
Lack of regulation always, and I do mean always, creates an environment where larceny is the rule of the land. Happens every time, no exceptions.
The way the S&L scam worked was that entrepreneurial crooks would buy an S&L, and then get hooked up with the small network of deposit brokers that controlled the money flow, and build up the amount of money the S&L had to lend. This was done by offering a slightly higher interest rate than peers, and doing a sweetheart deal with one of the brokers – generally a tit for tat: ''we bring you a hundred million, you make a ten million loan to my buddy Vinnie''. The S&L didn’t care, because it was the government’s money – all deposits, as long as they were in hundred thousand dollar chunks, were fully guaranteed and insured by the Fed.
So the depositors were protected, and the borrowers were in hog heaven – million dollar loans were made for literally worthless projects, and the money would disappear into a labyrinth of shell companies and partnerships. And those operating the abusive S&L's lived lives of power and luxury rivaled only by...present day hedge fund managers.
In the S&L game the same names kept appearing time and time again – the same deposit brokers, the same borrower networks, the same associated friends and groups, and ultimately, inevitably, organized crime figures.
Our elected officials were swayed by the powerful and rich S&L lobby, and the fact that their campaign contributions came from many of the wealthy who were a critical component in bilking the system – so they were absolutely against any reining in of this new cash cow business, that was fueling such astounding prosperity and growth.
Our own Fed Chairman, Greenspan, then a prominent and respected economist, sent the head of the S&L regulatory agency (FSLIC) a letter indicating that all was well, and that he (Gray) should stop worrying, that deregulation was working as planned – he even named 17 thrifts that were benchmarks of the new success and prosperity. The irony is that 4 years after writing that letter, 15 of the 17 were out of business and had cost the FSLIC $3 billion in losses. Greenspan was working as a consultant to Charles Keating at the time, of Lincoln Savings and Loan Fame. Small world.
And here we are. Greenspan is assuring us that the hedge fund industry doesn’t need any meaningful regulation, those chartered with regulating the markets are either turning a blind eye or are actively conspiring with hedge funds that routinely violate the rules against naked short selling – and are covering up for them by keeping all FTD info secret (by the SEC’s own admission, per their online FAQ).
And the DTCC, owned by the banks and the brokers who are a large part of any larcenous misuse of the system, uses statistical sleight of hand to pretend that everything is well and good. An example: The FOIA that was issued by the SEC, shows us that the average fails per day on just the NYSE and the NASDAQ (excluding OTCBB and Pink Sheet stocks) runs between 100 million and 260 million shares per day – call it 150 million average to be conservative. The DTCC points out that many billions of shares trade per day – around 3.5 billion, again rounded for the sake of simplicity. So that doesn’t seem like a huge percentage of trades that fail (between 3.5% and 8% - call it around 5% for this exercise).
What they omit is the actual meat – the SHO list on any given day will consist of 160 or so issues, of which about a third are preferred issues that are NOT included in the FOIA data – leaving us with a rough number around 110 issues (companies and ADRs).
If you pick a day and go down the list, and assume that 100% of that day’s volume on the thinner traded stocks was fails, and subtract out those companies and their volume, you wind up with around 125 million shares of fails distributed across maybe 30 companies. So a highly concentrated number in just a few “lucky” companies.
The DTCC would have you believe that that number is distributed across thousands and thousands of companies trading billions of shares, and yet in reality, that is a lie – easily verifiable as such. Anyone that wants the FOIA list can email me and I’ll send it – the gentleman that got the original wanted it removed from the web due to safety concerns, and I have agreed to abide by his wishes. This concentration of the fails was actually introduced by and refined by this same gentleman, who caught what many seemed to be content to ignore. Email me at ncans.mgr@gmail.com if you want a copy.
Dr. Byrne postulated in his presentation that the conspiracy of greed that was the collection of hedge funds, media personalities, private investigators, high net worth politically connected individuals, class action attorneys, etc. was all being driven by a tactical manipulation boss, and another individual who masterminded the whole scheme.
That was routinely mocked as being impossible, outlandish, silly, deluded, the workings of a disturbed mind.
And yet when we look at the single greatest financial fraud in the nation’s history, we find a network of connected individuals working at the direction (or being led by) several well placed gentlemen who understood the loophole that the brokered deposits represented, and who structured the incredibly complex transactions to funnel loans into the black hole whence they disappeared, never to be seen again.
We find a few strategic operators who propagated their larcenous activity in an almost viral manner, compromising the entire system.
We find a regulator that is hamstrung by elected officials whose allegiance is to rich and powerful lobbies, rather than to the country’s good (Donald Regan, Kevin Ingram’s mentor and the former head of Goldman, was the primary anti-regulation guy in the S&L scandal).
We find our beloved Fed Chair arguing against regulation, and using the biggest crooks in the industry’s history as his model of success.
We find huge money moving around without any accountability.
We find repeat offenders who were responsible for being convicted in prior illegal schemes hard at work working this illegal scheme.
We find a who’s who of supposedly respectable high net worth fellows who were robbing the system blind, and who spent little or no time behind bars for the financial fraud of the century.
Many of the players were previously involved in Wall Street scams, or real estate swindles, and all had a disdain for law enforcement and the regulatory system – which was appropriate given the risk/reward profile of the amount looted from the system versus days spent in jail.
The S&L aftermath and federal bailout left each and every taxpayer in this country with a bill estimated at greater than $2K per person. And it is small potatoes compared to what is being described as the contingent liability arising from the FTDs.
If you aren’t worried, and you are too dim or too naïve to see the pattern here, and the historical precedent, and the marshaling of forces to defend the indefensible, then you are living on a different planet. Not only has there been widespread larceny involving a coordinated scheme directed by just a few players, but there has been one recently, with the best and brightest from Wall Street and our government involved.
So next time you are reading an article about how wacky the whole thing is, how impossible, reflect on the S&L debacle, and the fact that the exact same tactic of denying everything, and then minimizing the size of the problem, and attacking the messengers of warning…all are SOP when the system is caught with its hand in the nation’s cookie jar.
Here we go again.
--------------------------------------------------------------------------------
**BREAKING NEWS - Neptune Technologies (NTB: TSX-V) Announces Revenues of $5,000,000 + In Annual Financials. A 123% increase over last year. Visit Neptune from the Canadian pull-down menu.
I get the same thing
from eating too much Westside pizza.
:o)
what happens
if there's a roadblock?
:(
from "oshemae "
BEFORE YOU BUY AN OTC PENNY STOCK
There are several key areas to look at when doing DD on an Over-the-counter pennystock. And it doesn't even include looking at the financial information.. . that is the least important thing to look at.
Share structure and distribution is the FIRST place our eyes should go when looking at an OTC stock. Don't even READ the news until you know whether or not 5 million shares were sold at .005 to a company in the Cayman Islands.
If so, you can rest assured that there will be heavy selling on any run up, as each new buy is met with an insider sell. And the stock will probably then get heavily shorted near the top. . and driven down to nothing. . and I do mean NOTHING.
And if the company does not report their financials to the SEC. . .RUN AWAY. Don't even consider them, because they will surely rip you off any way that they can. And if they SAY that they will soon be reporting their "audited" financials. . .run even faster. . .this means they have NO INTENTION of filing with the SEC. And even if they say "we will be filing with the SEC" or even "we HAVE submitted our financials to the SEC." DON'T BELIEVE THEM.
MDCE put out a half dozen press releases telling shareholders that they filed their financials with the SEC. . .but somehow. . .as if by magic. . .they have never appeared on the Edgars.
This stuff is the BASICS of penny trading.
SECOND, look at the HISTORY of the stock. . .was there a reverse split or reverse merger in its past? If so, there will probably be more problems or more reverse splits in the future. How long has the company been in business? It is one thing for a company to come up with an idea. . .it is CLEARLY another for same company to figure out a way to successfully market that product or service. . . and it is another thing yet, for the company to properly manage their money.
Take down the names of the officers of the companies, the investor relations people or firm and any other important parties. . .and do a "entire website" search at the SEC. This is not an Edgar search. . and can be found on the main page of the SEC, which EVERY penny trader should know very well. If your party comes up in the search, you can know their history. . if not, it does not mean they are "clear". . .they still could be under investigation or have played a smaller role in other scams, etc. . . .or just have never been caught. Be UN-trusting as a defense to loss and you will increase your chance at gains.
The easy way to do searches on SEC is to use "adj" between names like
John Smith. . ."john adj smith" . . if it is an odd last name, it should be fine by itself. . "stephanapolous" or "gianapolitana" or "santodominguez" etc. . .otherwise use adj on firm names like "La Jolla adj Capital" or "La adj Jolla adj Capital" . . this will keep the thousands of uses of "capital" or the city "La Jolla" from coming up in the search. It means literally adjacent" words.
THIRD, read the press releases with a cynical eye. . . if they say that the industry is reported to generate 14 billion in revenues each year and we estimate that our revenues in the coming year will be between 40 million and 60 million dollars. . .. RUN away.
If there is no LOGICAL and detailed explanation of HOW the company plans to make ANY money. . .then they don't. . . they just plan to sell shares. . to you? . . hopefully NO. . to the suckers that don't have a clue what they are doing. ANY reports of "projected" revenues should be based on PRIOR performance. . .if not, it is just a pie-in-the-sky arbitrary number picked out to make them look good to prospective penny traders.
If the company headquarters is in Vancouver, Boca Raton, La Jolla, Denver or Las Vegas. . . . RUN AWAY. There is an old saying in the record biz, where thousands of demo tapes are sent every week. . . "if we reject 100 percent of those wanting a record deal, we will be correct in our decision 99 percent of the time. . .and that ain't bad"
By catagorically denying ANY company hailing from these cities, thus rejecting 100 percent of them. . .we will be correct in our decision 99 percent of the time. And that is not bad.
Other suspect cities, which would require EXTENSIVE DD to justify,include New York City, Dallas, Houston, Palm Springs or other cities of the Coachella Valley, Ft. Lauderdale or other cities in South Florida, any city in Nevada, ANY city in Canada where everyone can short-sell penny stocks, any other "resort" city. . .
If Gucci has a store there. . .then chances are your company does not operate a 50,000 square foot building in the same town. . but rather is just one of many operations out of a small office there.
FOURTH. .INVESTIGATE. . . A good way to find out about the company? CALL THEM. NO, I don't mean to call the number they provide you. . .I mean call the local area directory assistance and ask for the company name. . . I have even gone as far as asked for the numbers of each of the officers of suspect companies, only to find that NOBODY had a listed number. . not even the company.
If the company has an unlisted number. . .think about it. . their customers or clients will not be able to find them. . they are absolutely bogus. If the CEO or his wife answers. .or there is a baby crying in the background. . .guess what? The company is being run out of the kitchen table of a house, and they want your money. . .why?
There are bills that need paid, that's why.
Another good trick, is to offer to visit the company headquarters on
short notice. . .say something like I will be in town first thing in the morning and would like directions to the company headquarters, so you can report back to your thread on Silicon Investor. . .yes they all read our threads.
If they say the company is moving, under construction or give ANY reason whatsoever for not allowing you there. . . you have your answer. . they are bogus. .don't believe them. . .if they offer to meet you elsewhere or to guide you in. . . decline and say, you may be late and insist on getting precise directions to the company headquarters. You will be amazed at the number of companies that will refuse to tell you.
If you are still interested in the company at this point. . .then you must ask yourself how much you are willing to lose. . . if you are "investing" 2,000 or more dollars, then go to Southwest Airlines website on a Tuesday thru Thursday and book a 33 to 99 dollar "internet special" flight there and go and see them for yourself. For just a same day trip. . or overnight if you feel adventurous. . .for just a few hundred bucks. . you can get a first hand account of where your money is going.
If they sell goods. . .you want to see the warehouse, shipping, receiving department. . .it should be impressive. . even if it is tiny. . if they sell services. . you want to see the laborers performing these services. . .if the company is nothing more than a small office with no laborers, because they "farm out" or their workers work "out of their homes" . . .RUN away. That is a lie. . the company is in business just to sell shares. In which case, be sure to note the leather interior of the CEO's car. . because that is what your 2,000 bucks bought.
Note the name or names on the door. Instead of the company name, does it say "capital.. .equity. . .investor. . .relations. . .financial". . etc??? Do
you know why? Because they operate NUMEROUS companies from the same office. . . in which case, your presence is not only NOT WANTED. . .it is threatening to their livelyhood.
If that is the case, I would not bother to even enter, as it may be a potentially dangerous or threatening situation. . . I would turn around and never look back.
But here is the part of penny trading that is the most important of all.. .and what I expect from each of us here on the fishing thread. . . when you have information about these companies like that described above. . and someone else is getting suckered into the same company. . . have the decency to tell them.
You don't need to go on the thread and tell eveyone they are invested in a bogus company. . .chances are good that they have already figured that out. . . but in the course of daily discussion, when the name pops up. . and you can shed some light. . do not hold back.
If they were unlisted. . say so. . if they have convertible debentures from an offshore placement. . say so. . .if there was a 1 for 100 reverse split a year ago. . .say so . . etc etc etc.
Not every company on the OTC or the Nasdaq is bogus.. . . but as I said on the Scammy Awards:
Welcome to the Over-The-Counter market of Electronic Bulletin Board and Pink Sheet stocks.
Out of 100,000 issues,
90,000 are scammys
9,000 are clueless
900 are really trying
Leaving 100 that are worth buying.
Don't know about Putnam
but the Agoracons would be looting which is very similar too what they're doing on the agoracon edig board.
Matter of fact I thought I saw liarlong and silverturd.
I made a few grand on it when I sold it recently around 14.5
guess I shoulda held on a little.
Hey, I'm happy..
Somethin' about this rings a bell
COLCHESTER, Conn., Sept. 12 /PRNewswire/ -- Scott + Scott, LLC
(http://www.scott-scott.com) represents client-shareholders in a securities
class action filed in the United States District Court for the Eastern
District of New York against DHB Industries, Inc. (Amex: DHB) and individual
defendants. Purchasers of DHB securities between April 21, 2004 and August
29, 2005, inclusive (the "Class Period") are members of the purported class.
DHB designs, develops, manufactures and markets protective armor through its
subsidiaries, Point Blank Body Armor, Inc. and Protective Apparel Corporation
of America. The complaint alleges huge insider sales by defendants as stated
below.
If you wish to discuss this action or have questions concerning this
notice or your rights as a class member, you may contact this firm for more
information. Scott + Scott, LLC will provide you with case materials, answer
all questions regarding your participation and rights and assist you with
other services that the firm provides. There is no cost or fee to you.
Contact Scott + Scott, LLC partner Neil Rothstein at
nrothstein@scott-scott.com (800/332-2259, ext. 22 or cell 619/251-0887) or
attorney Amy K. Saba at asaba@scott-scott.com (800/332-2259, ext. 26).
The complaint filed on September 9, 2005 by Scott + Scott, LLC alleges
that during the Class Period, DHB and certain individual defendants including
CEO David Brooks, violated the Securities Exchange Act of 1934 by making false
statements or failing to disclose adverse facts known to them about DHB.
Defendants' fraudulent scheme, it is alleged, (a) deceived the investing
public regarding DHB's prospects and business; (b) artificially inflated the
prices of DHB's publicly traded securities; (c) allowed defendants to sell
approximately $195.4 million of their own shares at inflated prices; and (d)
caused members of the Class to purchase DHB's publicly traded securities at
inflated prices.
"Now that [DHB] has cratered to one-fourth its former high price, I don't
see any insider buying. Instead, I see insiders granting themselves a giant
pile of warrants, including a ludicrous 1.5 million to [CEO David] Brooks at a
$1 strike price, vesting immediately -- with another 750,000 vesting each year
until 2010 ... Mix in overly generous housing and personal benefits and a
slew of creepy related-part transactions that enrich family members, and you
can only come to the conclusion that Brooks believes that what's his is his,
and what's yours is his too," says Seth Jayson from fool.com in a September 8,
2005 article.
The plaintiff is represented by Scott + Scott, LLC, which has expertise in
prosecuting investor class actions. The firm dedicates itself to client
communication and satisfaction and currently is litigating major securities,
antitrust and employee retirement plan actions throughout the United States.
The firm represents pension funds, charities, foundations, individuals and
other entities worldwide.
SOURCE Scott + Scott, LLC
WSJ.....
I'll just shutup and let you write for me.
I feel the same way about all of this. Bonuses for the thiefs was a slap in the face for us investors...where's mine?
a friendly reminder of the next week or so. Some of us just don't trust them anymore.
If this "heavy number of units" is just hype....will you all forgive and forget again?
If it were me, I'd wait to see the number of units that are sold (why couldn't they give us a number?)before I'd lay down any hard cash....course then it would be too late and we'd end up back here "shortly" anyway.
but freddy says the stars are with us.
as seedie says....Joy to the World.
http://www.investorshub.com/boards/read_msg.asp?message_id=6101246
Posted by: Cassandra
In reply to: HotrodHans who wrote msg# 69085 Date:4/20/2005 2:38:58 PM
Post #of 71282
HrH: It appears they are in a crisis management mode on agora. Their obvious overreaction to Orygun's post about Basso and PIPEs in general has outted them.
Everyone knows that Lois is the real deal. She is completely open about who she is and is always open to meeting other shareholders.
Deleting her posts (as well as yours) and ceasing all discussion of the financings certainly speaks volumes to open minded people. I hope that other longs are wising up as to what that venue is all about - selling stock. It has nothing to do with a rational discussion or DD on the risks.
The whole issue of "bashers" and a "basher free" forum is to treat believers like mushrooms. Keep them in the dark (from the facts) and feed them lots of bull excrement.
The skeptics and critics are not the ones who con the longs, it's the shills and hypesters who have nefarious motives. As more people discover this, the ability of the "confidence" men to get the believers to buy ever more shares will erode.
Someone's gotta buy the millions of new shares the Series EE PIPE investors have to sell through their convertibles. Follow the money. Who has clear motives to convince investors that all is rosey and that there is no doubt that the share price is going to go up substantially just down the road?
Now what if things aren't so rosey after all?
~Cassandra
You may be right on your charts
but have you been reading agoracon the last few days...the pump is on IMO....
of course...I hope i'm wrong.
We'll soon see if Brent Woods is full of it or not.
jdtiii....
Yes I realise the quote's from Brent....if he gave numbers, even approximate, which almost everyone here would have loved to hear, it would have made a big difference. As I said, until I hear or see the real numbers I'm staying pat.
Is it possible Brent could be a financier.
It'll be a perfect time for the financiers to sell into this next what i believe is another hyped run....that's why IMO they didn't give the numbers.
Sorry for the negative attitude but i sure didn't put it there.
Runs won't do me any good as I'm not a trader. Guess I should join the crowd and start.
I also look forward to that day, but until then it's another rainy night in Georgia.
I do appreciate your input.
John