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Post by recumbentrider on Nov 7, 2015 18:31:27 GMT
Browbeating, rehashing, and nitpicking an episode that took place years ago and was cleared by the sec is childish by any standards. When it comes from a point of view that has no position within the Scuderi Co., then calling them how you see them is fine, but odd. The Scuderis were not 'cleared by the SEC'. The SEC found that the Scuderis were guilty of selling unregistered securities to non-accredited investors, and that they spent $3.2 million of the $80 of investor's money to make improper payments to family members. If you don't believe me, read the SEC report. I hardly think this is 'nitpicking'. And perhaps the Hino company is being 'childish' in expecting Scuderi to pay them back their 'consortium' fee. |
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Post by dan27 on Nov 7, 2015 21:56:48 GMT
Well then" your definition of nitpicking differs greatly than mine. Fine was paid years ago. Case closed. If that isn't a rehash then i don't know what is? The subject is a closed one as far as i can determine. Again, very odd behavior for an adult who has no interest in the company?
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Post by recumbentrider on Nov 7, 2015 22:34:59 GMT
Well then" your definition of nitpicking differs greatly than mine. Fine was paid years ago. Case closed. If that isn't a rehash then i don't know what is? The subject is a closed one as far as i can determine. Again, very odd behavior for an adult who has no interest in the company? The SEC fine was only 2-1/2 years ago; the way you talk about it, one would think that it happened generations ago. The same people that were guilty of the misconduct in the SEC report are still running the Scuderi company today. Their behavior that led to the SEC fine shows their character, which has shown no sign of any change whatsoever, at least judging by the way they tried to get away with taking Hino's money. And incidentally, if the Scuderi company did not have to pay that $100,000 SEC fine, they would have the money to pay what they owe Hino today. Based on this alone, to characterize the SEC investigation and fine as something in the distant past that is no longer relevant today makes no sense, at least to me. But I am sure to you, all this is just 'nitpicking'. As far as you finding my behavior as 'odd', that has no significance to me. Please recall that this very discussion board was started by an honorable man who also had 'no interest in company'. Besides, sleazy companies like the Scuderis that violate SEC laws and take money from honest investors and use it for their own non-company related enrichment poison the investment waters, which in the long run affects everyone. |
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Post by vroom on Nov 7, 2015 23:41:34 GMT
I don't forgive people that steal from me.
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Post by vroom on Nov 7, 2015 23:42:33 GMT
Estate planning for relatives is no different than robbing a bank. If they wanted a family business they should have financed it that way.
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Post by dan27 on Nov 8, 2015 0:40:05 GMT
The best way present this is to make a simple example. If your brother, sister, mother, or father made a error and paid for it, would after 3 years the matter be resolved and done with? Would it still be relevant then? Yes or No?
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Post by recumbentrider on Nov 8, 2015 3:25:55 GMT
The best way present this is to make a simple example. If your brother, sister, mother, or father made a error and paid for it, would after 3 years the matter be resolved and done with? Would it still be relevant then? Yes or No? That would depend on the 'error', and whether or not the person making the error actually 'paid for it'. Here is another example. Suppose a family decided to start a company, and decided that they would sell $80 million dollars worth of stock in the company. Suppose they decided rather than to sell this stock legally to accredited investors, let us suppose instead they illegally sold the stock to non-accredited investors, and never even provided these investors with the most basic financial statements as to where their money was actually going. Let us suppose that this same family decided that they were going to take $3.2 million dollars of this money for their own personal use, and of course this money would be above and beyond any salaries they were drawing from this company. And let us also suppose that this family made no effort to pay this money back to investors. Would these actions be relevant a few years later? I think they would be. These actions say a lot about the character of the family in question. Let us take this example further, and suppose that this same family collects $150,000 out of another company to start a 'consortium' with them, and then refuses to pay them back when the 'consortium' never happens. I suspect that when this company sues the family to get their money back, the previous behavior of the family will cause anything they say to come into question during the lawsuit. (See 'witness impeachment'.) The truth of the matter is that when people do wrong, that wrong can follow them for a very long time, and even the law recognizes this. |
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Post by dan27 on Nov 8, 2015 4:52:46 GMT
That was telling. Thank you...
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Post by salsucks on Nov 8, 2015 22:30:21 GMT
bcs2012:
Our investment group has 28 members residing in MA, FL, TX, AK, CA, CO, NY. Should there be an investor update from SG we'll send it on to all of our club members. I'm not sure how many of them are members of this site though. Good things take time - we're in for the long haul. My husband and I have been in since 2006 and help others invest by creating a investment group in 2010. As we have sometimes said "We're buds with the Scuds"!
Scud's! Ha! Looser.
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Post by vroom on Nov 9, 2015 2:19:11 GMT
Dan, your perspective eludes me. Are you ok with how things have evolved here?
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Post by dan27 on Nov 9, 2015 2:58:49 GMT
Who is?
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Post by berniemadoff on Nov 9, 2015 14:53:15 GMT
When is the next webinar? I need some new material.
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Post by vroom on Nov 9, 2015 19:17:16 GMT
When a judge says pay and you don't - that is not good, agreed.
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Sally
Full Member
Posts: 105
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Post by Sally on Nov 9, 2015 20:05:14 GMT
Tell me you're kidding neil, the SG agreed to pay back the money and now they're renigging. How in the world do you support that???*%!#@)!!!  ? I know you're a supporter of the SG, you've gone to the ends to support them but even you has to see that this is NOT the way to run a company and there is NO excuse for not returning the money to Hino. In all fairness Hino came to the bargaining table and put forth good money to be a part of a consortium that Sal and his family had no idea how to coordinate. Give them their money. While they're at it give me the buyout Ruth promised 28 months ago. Enough of Sal and his family, put them out to pasture and bring in a real management team and maybe, just maybe this has a chance. If they remain in control this is done. All of the foregoing is my opinion. I don't give anyone permission to cut/paste and disseminate my comments to a broader audience. This is a private communication intended for the above captioned recipients only. I do not wish to forward or commence any misstatements about or towards the Scuderi Group or Scuderi family members. Everything I have ever written in any blog is my opinion only based on the facts as I knew them to be at that time. |
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Post by berniemadoff on Nov 10, 2015 2:51:03 GMT
If I had more investors like Neil I might have never been caught.
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