Hey, mr. BSD or mr. BeOs, why not come up with your own articles...
I seriously hope you're not suggesting we run W2K on those boxen...
Linux it, and donate to a local school
on
High Tech Junk
·
· Score: 1
Seriously. Then get a tax writeoff for it.
I was just talking with some school board candidates and principals, and I think now that Linux is cool (for the mainstream, not just us) this is regarded as "a good thing".
If Red Hat was smart, they'd offer a free support account and CD for each school that did this. Now that they have the cash, that is.
How about the question noone wants to ask? Like: Who do you blame for the Red Hat IPO disaster? A. Red Hat B. E*Trade/E*Offering C. SEC D. All of the above E. Y2K F. Will in Seattle G. The penguins in the cage
I vote for B. But I'm not sure about those penguins...
Look, I know what the chances of getting an IPO are, if you try through a broker who is not one of the underwriters. But E*Trade (E*Offering) IS ONE OF THE UNDERWRITERS. So, suddenly, my chances got from 1 to 2 percent up to 50 percent or higher.
I have other brokers. I know what that means.
So, if I were a nasty guy, I would have said: "Hmmm, looks like they screwed the affinity guys out of shares. Cool, more for me." - and then I would have done things to get the SEC to redo the IPO only for my class of investors, NOT for the Affinity group.
I've done things against my own economic self-interest before, whether we're talking AT&T and cable access, or many other stock holdings. This is a common behaviour in my family - we care about justice, not just for us, but for all. You may have heard of a Oliver Wendell Holmes, and he's pretty average amongst my relatives in the Holmes, Affleck, Asch, and Whitesell families. Numerous relatives have done the right thing in the face of fierce pressure to conform to the powers that be, and they even named the Asch Phenomenon after a great-uncle - that's where you get a crowd of people and have at least five people tell an obvious untruth - and people will believe it...
When you have walked a mile in my shoes, you can criticize me. E*Trade has been deserving of all criticism, Red Hat has gone above and beyond the call of duty to help us out, and the SEC has done it's job, no matter what E*Trade will tell you.
When E*Trade can't even get their stories straight, lights should go on in your brain. If they didn't, you should NOT be investing. At some future date you will probably be snookered, and let's hope the perpetrators left an audit trail, or you're SOL.
Well, if you don't want me to pay attention, why don't you just give back your shares?
I don't claim to be an expert on IPOs. I just know through my experiences in trading stocks, bonds, mutual funds, options (hate them, but I get them from stocks sometimes and have to sell or exercise them), etc.
Sheesh, stick with the stuffed penguins, guys... being locked up in a cage surrounded by Linux geeks is something we should only do to E*Trade executives...
Yeah, I've tried to be reasonable with them, following the ten steps that the SEC says to do. Time to escalate to the next level, which is NASD, I guess. I talked with a broker's supervisor and he said he'd talk with his manager. I think it says you need to send a written letter to the brokerage firm (E*TRADE) next, and then it's NASD complaint time.
They have until this weekend. When I do these steps I'll post them, since I seem to have a knack for getting responses sometimes. Depends on if I'm busy on dates this weekend too.
Aside: $82 and counting... maybe I might have to buy when it dips to the 30s... not sure it will go back to the 20s.
Seriously. I know it's stupid, but "Industry Analysts" say that Linux must be good because the Red Hat IPO did so well. Baaaaa. Baaaaa. Baaaa.
So, look for lots more companies to suddenly push getting a Linux version out the door and a lot of CIO/CEO doors swinging open instead of being shut (not that it stopped us).
Some people, like Laura who I talked to today at Microsoft (I know, I know, but she's cute, single, and likes politics...) don't get it yet, but the bell has just tolled. We all know this has nothing to do with the real merits, but did MSFT have anything to do with the real merits?
Salut, mes copains! Nous sommes les juges de la futur!
Exactly. This is a VERY expensive lesson for them. The sad thing is, I'm not sure they've quite sussed that it's not just the Affinity people, but the true believers who put their cash in just for this one IPO (e.g. me). And that some of us have the time, the energy, the resources, and (if I have to escalate to that level) the connections to make things get even more warm in the frying pan.
Publicity usually costs money. Customers cost money. But bad publicity from determined people who have stared major multinational corporations down and are quite willing to use every legal means in their power, it's priceless.
Which story? Check out all the old threads. Mine is the many posts encouraging people to contact the SEC. I usually prefer to be more in the background, but post what you will.
Yeah, that fits. The SEC basically told them (guess) that if you passed the first hurdle which screened out improper indications of interest (which they DO have to do, but not so stringently as they did with Affinity), that you're still in the game, since the second hurdle was practically impossible for a large majority of qualified IPO participants.
I mean, I like owning. It's fun to fly to board meetings on St. Kits, take in the sun, and write it off. It's neat to vote the stocks and blackball anyone who ever served on the Trilateral Commission (which I have done) and vote against all the multi-board members and for most of the women. And you get cool toys sometimes.
Face it, Red Hat is a very small fraction of my total investment portfolio. It's my risk money. My bet on the future.
So, I think I can afford to get emotionally attached to this.
Actually, the first rule is, never count a profit or a loss until you actually close the sale and include the commissions on both ends and then extrapolate the capital gains...;0)
Yeah, me too. I mean, I talked with a broker and reconfirmed at $12-$14 and discussed pricing at $14, so I was happy in Pacific Coast doze time while they tried to screw us over...
Hey, don't knock the SEC. They may not be fun at parties, but if it weren't for them, small and moderate players would get rolled over by insiders and big guys every day of the week. I mean, I've handled more than a million, but until you have more than $100 million, you're still fairly small.
First, I'd send E*TRADE an email. Then I'd send a full chronology of events, including any live telephone conversations with account reps and brokers (important to say which, and note that conversations are recorded, so they know who).
Send it to the SEC branch nearest you.
If no reasonable resolution, time to file a complaint with the NASD.
When do you think they'll clue in that we're going to stand up for our rights and are not gullible about exactly HOW technology works...
I mean, if I have to go to arbitration, I'm going for full allocation. And I chose not to put that $51,000 in Schwab (to get their premier line qualification, with my other accounts there) but with them, all for the IPO.
Hmm. Well, all they would admit (over the phone) to was 100 shares. I know if it has to go to arbitration, I'm certainly not settling for less, but that's what they told me.
Wonder if they realize that some of us have a lot of free time to contact media sources over the weekends? Naah. Personally, I'd rather be mucking with my servers, but...
Amazing as it may sound, I've never had any problems with brokers up till now, and I've had a few. Sure, a couple glitches, but most people (E*TRADE excepted) will admit mistakes that were made on their end. Full service, discount, and electronic brokers.
So, since I've never had to do it (but know I can), exactly how do we file with NASD? I knew the SEC would be useful RIGHT THEN, but now that I've helped everyone defend their rights, it looks like I may have to file for my own rights. Yes, I know, the teeny print probably said something about binding arbitration, but it would still be nice to have a web page (and email) pointing us to those wonderful complaint mechanisms.
You'd think E*TRADE would start figuring out that we don't roll over and we DO know about computers and the Net. But no, it feels like pulling teeth.
Slashdot Mirror
Hey, mr. BSD or mr. BeOs, why not come up with your own articles ...
...
I seriously hope you're not suggesting we run W2K on those boxen
Seriously. Then get a tax writeoff for it.
I was just talking with some school board candidates and principals, and I think now that Linux is cool (for the mainstream, not just us) this is regarded as "a good thing".
If Red Hat was smart, they'd offer a free support account and CD for each school that did this. Now that they have the cash, that is.
(0 shares and counting)
Blank lines between paragraphs.
Useful? Of course.
A standard? Yup.
Use them? Please.
Really, it's 24/7.
C'mon, they guarantee 95% uptime.
Isn't that enough?
;-)
What do you mean, you're not? You should still have a hangover ... it's only Friday when you posted.
H. The Lunar Eclipse (or was that the Solar Eclipse? Not sure which it was)
Hmmm. I wonder ...
...
How about the question noone wants to ask? Like: Who do you blame for the Red Hat IPO disaster?
A. Red Hat
B. E*Trade/E*Offering
C. SEC
D. All of the above
E. Y2K
F. Will in Seattle
G. The penguins in the cage
I vote for B. But I'm not sure about those penguins
Yeah, if it weren't for the SEC, it probably would have been 3, but I think it's up near the 8000 mark thanks to them.
...
Not that I've got any shares yet
Well, actually, it's really 2035, if you want to get technical, but then you'd have to admit that this is a religious calendar and thus deeply flawed.
So, what do we call the years between 1 AD and 1 BC?
Tsk. Tsk.
...
Look, I know what the chances of getting an IPO are, if you try through a broker who is not one of the underwriters. But E*Trade (E*Offering) IS ONE OF THE UNDERWRITERS. So, suddenly, my chances got from 1 to 2 percent up to 50 percent or higher.
I have other brokers. I know what that means.
So, if I were a nasty guy, I would have said: "Hmmm, looks like they screwed the affinity guys out of shares. Cool, more for me." - and then I would have done things to get the SEC to redo the IPO only for my class of investors, NOT for the Affinity group.
I've done things against my own economic self-interest before, whether we're talking AT&T and cable access, or many other stock holdings. This is a common behaviour in my family - we care about justice, not just for us, but for all. You may have heard of a Oliver Wendell Holmes, and he's pretty average amongst my relatives in the Holmes, Affleck, Asch, and Whitesell families. Numerous relatives have done the right thing in the face of fierce pressure to conform to the powers that be, and they even named the Asch Phenomenon after a great-uncle - that's where you get a crowd of people and have at least five people tell an obvious untruth - and people will believe it
When you have walked a mile in my shoes, you can criticize me. E*Trade has been deserving of all criticism, Red Hat has gone above and beyond the call of duty to help us out, and the SEC has done it's job, no matter what E*Trade will tell you.
When E*Trade can't even get their stories straight, lights should go on in your brain. If they didn't, you should NOT be investing. At some future date you will probably be snookered, and let's hope the perpetrators left an audit trail, or you're SOL.
OK?
Yeah, and he's suddenly legitimized your skill set to all the CEOs and CIOs who slam the door in your face whenever you talk Linux.
...
Now they want to pay a $5000 to $10,000 salary bonus for Linux skills.
Get a life
Well, think about all the working people who are going to watch Wall Street Week on Friday. On Monday they'll be phoning their brokers to buy Red Hat.
...
Which means up for Monday, maybe Tuesday. Wednesday is stale and maybe down Thursday and Friday. Close week around $60-$80 range.
So, guess end of August, beginning of September for $30 range.
And then back up we go
Well, if you don't want me to pay attention, why don't you just give back your shares?
I don't claim to be an expert on IPOs. I just know through my experiences in trading stocks, bonds, mutual funds, options (hate them, but I get them from stocks sometimes and have to sell or exercise them), etc.
And I know when someone's trying to rip me off.
I mean, were they, Open Source Penguins?
... being locked up in a cage surrounded by Linux geeks is something we should only do to E*Trade executives ...
Sheesh, stick with the stuffed penguins, guys
Yeah, I've tried to be reasonable with them, following the ten steps that the SEC says to do. Time to escalate to the next level, which is NASD, I guess. I talked with a broker's supervisor and he said he'd talk with his manager. I think it says you need to send a written letter to the brokerage firm (E*TRADE) next, and then it's NASD complaint time.
... maybe I might have to buy when it dips to the 30s ... not sure it will go back to the 20s.
They have until this weekend. When I do these steps I'll post them, since I seem to have a knack for getting responses sometimes. Depends on if I'm busy on dates this weekend too.
Aside: $82 and counting
Seriously. I know it's stupid, but "Industry Analysts" say that Linux must be good because the Red Hat IPO did so well. Baaaaa. Baaaaa. Baaaa.
...) don't get it yet, but the bell has just tolled. We all know this has nothing to do with the real merits, but did MSFT have anything to do with the real merits?
So, look for lots more companies to suddenly push getting a Linux version out the door and a lot of CIO/CEO doors swinging open instead of being shut (not that it stopped us).
Some people, like Laura who I talked to today at Microsoft (I know, I know, but she's cute, single, and likes politics
Salut, mes copains! Nous sommes les juges de la futur!
Exactly. This is a VERY expensive lesson for them. The sad thing is, I'm not sure they've quite sussed that it's not just the Affinity people, but the true believers who put their cash in just for this one IPO (e.g. me). And that some of us have the time, the energy, the resources, and (if I have to escalate to that level) the connections to make things get even more warm in the frying pan.
Publicity usually costs money. Customers cost money. But bad publicity from determined people who have stared major multinational corporations down and are quite willing to use every legal means in their power, it's priceless.
Which story? Check out all the old threads. Mine is the many posts encouraging people to contact the SEC. I usually prefer to be more in the background, but post what you will.
Yeah, that fits. The SEC basically told them (guess) that if you passed the first hurdle which screened out improper indications of interest (which they DO have to do, but not so stringently as they did with Affinity), that you're still in the game, since the second hurdle was practically impossible for a large majority of qualified IPO participants.
Good call by the SEC. Fair too.
I mean, I like owning. It's fun to fly to board meetings on St. Kits, take in the sun, and write it off. It's neat to vote the stocks and blackball anyone who ever served on the Trilateral Commission (which I have done) and vote against all the multi-board members and for most of the women. And you get cool toys sometimes.
... ;0)
Face it, Red Hat is a very small fraction of my total investment portfolio. It's my risk money.
My bet on the future.
So, I think I can afford to get emotionally attached to this.
Actually, the first rule is, never count a profit or a loss until you actually close the sale and include the commissions on both ends and then extrapolate the capital gains
Ah. Well, in hindsight you probably wish you had, but at the time you probably made the same decision I would have.
And now you can say to your wife: "See, honey, you're more important to me than all the riches in the world."
Major bonus points.
Yeah, me too. I mean, I talked with a broker and reconfirmed at $12-$14 and discussed pricing at $14, so I was happy in Pacific Coast doze time while they tried to screw us over ...
Hey, don't knock the SEC. They may not be fun at parties, but if it weren't for them, small and moderate players would get rolled over by insiders and big guys every day of the week. I mean, I've handled more than a million, but until you have more than $100 million, you're still fairly small.
First, I'd send E*TRADE an email. Then I'd send a full chronology of events, including any live telephone conversations with account reps and brokers (important to say which, and note that conversations are recorded, so they know who).
...
Send it to the SEC branch nearest you.
If no reasonable resolution, time to file a complaint with the NASD.
When do you think they'll clue in that we're going to stand up for our rights and are not gullible about exactly HOW technology works
I mean, if I have to go to arbitration, I'm going for full allocation. And I chose not to put that $51,000 in Schwab (to get their premier line qualification, with my other accounts there) but with them, all for the IPO.
Their call.
Hmm. Well, all they would admit (over the phone) to was 100 shares. I know if it has to go to arbitration, I'm certainly not settling for less, but that's what they told me.
...
Wonder if they realize that some of us have a lot of free time to contact media sources over the weekends? Naah. Personally, I'd rather be mucking with my servers, but
Amazing as it may sound, I've never had any problems with brokers up till now, and I've had a few. Sure, a couple glitches, but most people (E*TRADE excepted) will admit mistakes that were made on their end. Full service, discount, and electronic brokers.
So, since I've never had to do it (but know I can), exactly how do we file with NASD? I knew the SEC would be useful RIGHT THEN, but now that I've helped everyone defend their rights, it looks like I may have to file for my own rights. Yes, I know, the teeny print probably said something about binding arbitration, but it would still be nice to have a web page (and email) pointing us to those wonderful complaint mechanisms.
You'd think E*TRADE would start figuring out that we don't roll over and we DO know about computers and the Net. But no, it feels like pulling teeth.