I dunno, Gary. I've wrestled with this a bit since I read and responded to your first entry on Universal Expresses' New York Times advertisement.
I remain convinced that Altomare's taking his Universal Express scam high profile will ultimately lead people to recognize cries of "naked short selling" as an important telltale of a well rehearsed stock scam.
However, I also look at today's volume and see that somewhere between $150,000 and $200,000 worth of Universal Express changed hands. So for whatever long-term benefits that might come of Altomare's moronic NYT stunt, somebody, today, got burnt. Perhaps Jespersen and his team bear some of the blame for that.
But on a brighter note, I hear that Mark Faulk's finally begun to suspect that maybe, just maybe, Universal Express and her management might not, you know, be doing a very good, ummm, job, of looking after her, you know, shareholders' interests. Or something.
Not that those evil, greedy, bad ol' "naked short sellers" don't share some of the blame, see?
The most egregious failure to police penny stock scam ads in the 2nd quarter of 2007 took place with a firm called Rocket City Automotive (RCAU.PK). USA Today along with several other national newspapers accepted ad revenue from this issuer.
This issuer employed the all too common tactic of using "we have deals with so and so" hype to legitimize itself. One of the firms whose good name it "used" was Harley Davidson (HOG:NYSE). Harley's General Counsel put a stop to that rather quickly after being notified what was going on.
Please feel free to pull up a 90 day price chart of RCAU.PK.
For more irony, Gary, I have pretty reliable information that Altomare is going to stiff the Times for the ad!
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