InvestorsHub Logo
Followers 8
Posts 1692
Boards Moderated 1
Alias Born 12/01/2003

Re: km3 post# 2019

Saturday, 03/12/2005 1:46:41 AM

Saturday, March 12, 2005 1:46:41 AM

Post# of 44396
OT:

$$$$$$$$$


Ripley, Believe It Or Not: 70M Shares Trade After Michigan Man Puts Them All in Sock Drawer
(financialwire.net via COMTEX) --

March 4, 2005 (FinancialWire) A Michigan man, Robert C. Simpson, who claims to have acquired 100% of the issued and outstanding stock of Global Links Corp. (OTC: GLKCE), if true, is likely to become the poster boy for those opposed to illegal naked short sales.

Illegal naked short sales have mostly victimized small companies such as Global Links, but has also been cited as problematic for large companies such as Martha Stewart Living OmniMedia (NYSE: MSO), Krispy Kreme Doughnuts (NYSE: KKD) and Overstock (NASDAQ: OSTK), whose CEO is said to have helped write a national ad on the subject in the Washington Post directed to President George Bush.

Simpson filed a U.S. Securities and Exchange Commission Schedulce 13D ( http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3299823) on February 3, showing his purchase of and sole voting power for 1,158,209 shares of the corporation.

Yet, here's the rub:

The day after Simpson purportedly stuck every last corporate certificate for Global Links in his sock drawer, the company traded 37,044,500 shares. The next day it traded 22,471,600 share. Thursday it traded 199,616.

Simpson is said to have gone back to his sock drawer, and despite the fact that a sock or two, as is always the case, were missing, all 1,158,209 Global Links certificates were still there.

Observers are asking where those other millions and millions of certificates are therefore coming from.

Hmmmmm.

The San Antonio Express-News raised the question this week as to how Congress could seriously consider placing Social Security into what it inferred is a "mess."

For up-to-the-minute news, features and links click on http://www.financialwire.net

FinancialWire is an independent, proprietary news service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation for its news or opinions. Other divisions of Investrend, however, provide shareholder empowerment platforms such as forums, independent research and webcasting. For more information or to receive the FirstAlert daily summary of news, commentary, research reports, webcasts, events and conference calls, click on http://www.investrend.com/contact.asp

The FinancialWire NewsFeed is now available in multiple formats to your site or desktop, free. Click on: http://www.investrend.com/XmlFeeds?level=268


http://www.financialwire.net

(C) 2005 financialwire.net, Inc. All rights reserved



i gotta get some shut-eye hans. good-night

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.