Valcom Inc (fka VLCO)

[TreasureCoasting]

Curious about Greg Manning Auctions and it's history (triggered by your discussions) I found this article ...

http://spectator.org/archives/2009/08/14/sold-short/print

Wow! It sure reads as credible and shows why the SEC had to get its head out its ass and do something about naked short selling.

Here are a few highlights from the article but it's worth reading the entire article for continuity:

"two financial publications published false, negative stories on Escala Group, driving the shares down 25%. Based on our research, the implied allegations in the stories are false."

"But suddenly May (06) trading volume in Escala shares exploded to 97 million shares, up from 2.7 million the previous month. Most of the volume was traded over the course of 11 days, meaning every single share would have turned over multiple times in this period -- a virtual impossibility -- and failure to deliver transactions rose to 57.2% of the May shorts. With millions of shares not delivered, significant evidence existed that short sellers were not borrowing for legitimate delivery and were manipulating the stock price downward. The practice also created "phantom shares" of stock, which artificially increased the public float and put further downward pressure on the share prices."

"Greg Manning may be one of those final victims of the old naked short regime. Unlike the larger companies that survived the bear raids, Manning's story is a sad one about the American dream crushed. I hope it one day involves a tale of redemption as well."

On a personal note, I wish Greg and his family success and prosperity. I am delighted they've joined the Valcom team.