Message #242 From:
NewsBot Date: February 23, 2008 07:56:58 PM
USXP Posts found on NY Times Blog
February 8th, 2008 1:52 pm
IF USXP wins the appeal …IF …you owe us all an apology .
The Company, its President and its General Counsel have at all times acted in good faith reliance on the orders of the Bankruptcy Court, the long-term provisions of the Reorganization Plan, confirmed by the Bankruptcy Court, and the immunities provided to the Company and its officers under the Bankruptcy Code
i say “open up the books ”
Floyd Norris replies:
USXP has dropped its appeal of the ruling, but Mr. Altomare’s appeal is still pending.
— Posted by tkalantzis * 2. February 8th, 2008 2:49 pm
For ten years I’ve watched in disgust as the Feds ignore most penny stock scammers and play softball with the few they do catch. Altomare violated a permanent injunction and didn’t even get cited for contempt of court. It’s no wonder penny stock fraud is rampant. It’s probably the safest form of theft available.
— Posted by Mighty_Mezz * 3. February 8th, 2008 3:00 pm
USXP did not drop the Appeal ! Jane Moscowitz, the Court appointed Receiver dropped it !
— Posted by Mike * 4. February 8th, 2008 3:42 pm
Mike,
She IS USXP, not the Fraudster. Besides he is busy worrying about things like SOX, FL Use Tax, IRS Taxes etc. Besides, all he had to show for being the CEO of USXP was almost 60 consecutive Losing Quarters, while claiming it was a growing Company!
Care to comment on RAs claim to being a retired USMC Captain? Or working on a Ph.D at Oxford? Say, how much did that USXP 9-11 Victims Fund Collect for Victims? Ever been for an USXP Blimp Ride?
USXP withdrew their Appeal. Live with it. It matters little because the Altomare/Gunderson Appeal will fail since there is no law errors by Lynch! Plus, there was no Affirmative Defense offered in the Case, AND a Jury Trial was never asked for in a Motion to the Court! End of Appeal! Indictments next!
Have a great day, Mike.
scu
— Posted by Steve Cunningham * 5. February 8th, 2008 3:49 pm
I didn’t realize that Charles Keating had so much competition in the fraud sweepstakes.
— Posted by Bill * 6. February 8th, 2008 4:07 pm
Steve,
do yourself a favor and get your Informations right. By the way can you tell me in which crystall ball you have already seen that the Appeal will fail ?
Lynch Judgements are one big error and in time he and you all will get the truth !
Have a greater day, Steve.
,I,,
— Posted by Mike * 7. February 8th, 2008 4:28 pm
Floyd:
I wouldn’t be surprised if those e-mails you receiveed were from Mr. Altomare himself. He is a con artist who deceived many shareholders and used USXP money as his private bank account.
That thief needs to be put behind bars.
— Posted by Maximo * 8. February 8th, 2008 4:28 pm
Mike,
You stated: “do yourself a favor and get your Informations right.”
OK. Which information is wrong? Please point it out and tell me why it is wrong! I can dig up documentation for each item.
It is not appropriate to say “get your information right” when you CAN NOT tell me what is WRONG!
Let’s start and go down each item, OK? Your facts on this? (I combined first 2)
“RAs claim to being a retired USMC Captain & working on a Ph.D at Oxford?”
Thanks,
scu
— Posted by Steve Cunningham * 9. February 8th, 2008 7:33 pm
Mike,
Awaiting your “truths” on my above Statements regarding Altomare claiming he is a retired USMC Captain and Oxford PhD Candidate. I say he lied. What say you? Yes or No.
It goes to the character of the man. I personally think he is a Fraud and Conman, as the Federal Court has Adjudged. 60 Consecutive Money Losing Quarters MUST BE a Guinness Book of Records All-Time Achievement for the Combined Category Incompetent CEO/Fraudster. Imagine, losing $18 for every $1 of Revenue for shipping bags? And getting $1.7M in “Salary, Bonuses, accrued, Jet Flights, Gambling Debts, payment to children, etc) for CY2006 and again $1.7M in 2007 for just the first 8 Months! Yikes, Pay for Performance, eh?
Speaking of Bags Shipped, could we add that as a “truth” of yours that I believe Altomare grossly lied and committed Fraud when he Publicly bragged that he had shipped 30 Million Bags (27M in an earlier webcast). Happy to discuss the fact that at $80 per bag, USXP would have seen $2.4 Billion in rRevenue over the 10 years they claimed they were shipping those bags. So do YOU think they averaged $200M per year for shipping Luggage? Hmmmm! Have I got my “information right” on the 30M bags? I say he committed Fraud saying that Lie. You agree?
Well, thanks, Mike. I really do look forward to seeing your “right information”! Please hurry. Then we can move on to you getting that other “information right”, eh?
Enjoy your evening, Mike.
Steve
PS May I ask How Much you lost in this scam? TY
— Posted by Steve Cunningham * 10. February 9th, 2008 3:56 am
Dear Mr. Norris, scams like USXP often foster victims who become rabid supporters of those very people who steal and victimize them. The phenomenon has been referred to as Penny Stock Syndrome, so named after the Helsinki Syndrome where kidnap victims form empathy for their captors. The behavior forms from some sort of psychological defense mechanism gone awry, where facing the reality that they lost their savings by placing belief in a crook(s) is too painful to face. So rather incredibly, it becomes necessary for them to believe that someone else is to blame for their troubles: the SEC, the courts, reporters, naked short sellers, or even the imaginary short selling operation: F.A.K.E. ( think CONTROL and KAOS of “Get Smart” ).
USXP has a number of particularly rabid PSS sufferers, who continue to victimize themselves. No matter how direct and damning the evidence of Altomare’s many crimes, they continue to defend him. Several eagerly seek any tidbit they can from the crook or his proxy C. Austin “Bud” Burrell. Some have gone so far as to mail physical threats against Ms. Moscowitz and Judge Lynch. Some proffer the absurd notion that each legal defeat is part of a grand plan by Altomare to trap the: SEC, receiver, and judge, all of whom they allege have been corrupted by and are in the service of shorty. Some hold onto fantastic ideas such as direct involvement in USXP by the Saudi royal family. The insanity is simply amazing to observe.
These folks belong to the category of people the retired magician, and fraud debunker James Randi calls “the believers”. To paraphrase Mr. Randi they are people who cling to an idea no matter how much information would bring that idea into doubt for others. They are the sheep who eagerly pursue their own slaughter and will fight to the bitter end to preserve that right.
— Posted by rich thorndike * 11. February 9th, 2008 9:43 am
Mike! Mike! Hello, Mike!
Are you OK?? I am a bit worried that you seemed anxious to tell me that the information about Altomare was not “right”, and now you are nowhere to be found!!
I hope you did not send that comment to me from Egypt. Dangerous place, Mike. Very dangerous. People have been known to drown after entering that evil, vile River!! You know! Da Nile!
Let us know you are OK, at least so we don’t worry. I am sure many have already called the Egyptian River Police to make a Missing Person Report.
But back to what is “right”! Let’s see. A recap! I never got from you what is “right” on the Bogus Retired USMC Captain Claim. Also “right” on that ridiculous Oxford PhD Claim (You do know that he IS NOT a College Grad, right?!) I think you still owe a “right” on Altomare’s 30M bag shipped Claim, right? (Don’t you just love the “with never a bag lost” schtick?)!
I await your “rights” on the above. Please hurry, I am very excited for getting it “right”. Little Billy always said I was too, er… well,… uh,… anticipatory! Go figure!
Hey, while WE are discussing “right”, can we throw in the 9,000 Postal Stores in the USXP Family? Yeah, I know, he also said 11,000, 17,000, and 21,000 Stores, but Hey, maybe he kept his notes in the same Company Book that he authorized the $3.4M in Salary etc for 2006 and 2007. You know, the one he seems to have misplaced. Darn, hate when that happens, eh? I know of a CEO who lost a 10,000 sq ft Building, just before his Penny Stock scam Company went Belly-Up! Can you imagine that?
But anyways, enough small talk! Let’s see, I always wanted the “right” on those 9,000 USXP Postal Stores. The 6 or 7 that I walked into and asked about USXP of the Owners and Managers did not work out well for Altomare’s claims. Some got hostile. And the UPS-owned Stores got a good laugh! Odd, eh? Who’da thunk!
Hopefully, the Da Nile River Volunteer Rescue Patrol has found you by now, so you can enjoy your week-end. And of course, allow you to set us “right” on what we have on the table for the moment. Once we are “right” on all that, we can move on to the 9-11 Victims Fund Issue. I’ll bet that all those potential NYC Jurors have a great interest in hearing about that “right”, eh?
Enjoy, Mike.
–scu
— Posted by Steve Cunningham * 12. February 9th, 2008 11:25 am
Oh my! Looks like the Lord of the Sith Lords has spoken. Great job on OSTK, Pattie. You da man!!
Floyd, I would take this e-mail as a Tribute to your honesty, integruty and effectiveness! Not often you get a two-fer like those two!
Patrick Byrne Says: February 8th, 2008 at 11:30 pm Hey folks.
Joel: patrick@overstock.com.
Tom: Yes I know Norris is a lackey. A lickspittle. A bootlick. In that, however, he is no different than most financial reporters in New York. Compared with Bethany, Roddy, Nocera, or Herb Greenberg, he is a good writer. Compared with Jim Cramer, he is not venal.
Compared with Gary Weiss, he is not a psychopath. So I cut him slack: years ago he was pretty good, but now he’s just another guy who lost his fastball and is still trying to make it pay.
“Little person”: I will have to check out Mish’s Global Economic Analysis. Welcome all. And shop Overstock!
Patrick
— Posted by Steve Cunningham * 13. February 18th, 2008 3:35 pm
Senator Bennett made a very important point in his exchange with Cox at the Senate Banking Committee Hearing on last Thursday, February 14, 2008.
He described naked short sales as the sale of “counterfeit” shares.
He used the word “counterfeit” shares four or five times.
This was deliberate.
That is obvious because in his seminal speech on naked shorting on the Senate Floor on July 23, 2007, less than seven months ago, he did not once use the term “counterfeit” shares, but only the words “naked shorting,” or twice used “phantom shares.”
As you know, each such naked short sale constitutes a sale of a counterfeit security is a violation of Sections 513 and 514 of Title 18 of the Criminal Code of the United States.
Violations of these sections of the Criminal Code are Class B Felonies.
Naked short sales of shares not delivered is the sale of “counterfeit securities,” shares sold in the name of a company, but not issued by the company from its authorized shares.
They are as criminal as the passing off of counterfeit currency, which is covered by the same statutes.
Counterfeit “securities” are also covered by these criminal statutes and shares of stock are securities.
There have been billions, if not trillions, of such violations of the Counterfeiting Statutes by the naked short sellers.
And, the DTTC and the SEC are aiders and abettors of these crimes of counterfeiting securities under Sections 513 and 514.
- When a prominent United States Senator;
- As member of the important Senate Banking Committee;
- Speaking at an important hearing with top Government Officials;
- On the important issue of the Problems With the Economy;
- Calls the problem of naked short selling of shares at that hearing as the selling of “counterfeit shares;”
- Then those involved better run for the hills because their heading for long prison terms, including their aiders and abettors.
