From: Gary S. Gevisser
Sent: Sunday, December 19, 2004 5:29 PM PT
To: Larry Neilson – President National Marketing Services
Cc: rest;
Solly Krok; Edward Jay Epstein - Author of
The Diamond Invention; Eliot Spitzer - Attorney General of New
York State
Subject: ... Clear.... Mess...
Larry – please firm up exactly when u
will be coming down.
Below is an article in today’s NY Times dealing with “conflicts of interest”.
The insanity of Spitzer not having seen ahead of time how in doing the right thing and the smart thing which is also the right thing and handcuffing Ron Bellows Senior, no strike that, filing the most refreshing criminal complaint against his employer the $280 billion criminal megalopoly of AIG-M-ACE Ltd it seems is being much better understood in the 3rd world where there r as one would expect increasingly less people who have allowed their formal education to interfere with their learning.
I believe we have a very small window of opportunity to get the independent insurance agents around the world in a position that will not only make them more financially viable but very possibly save a financial collapse of epic proportions.
One cannot understate how people in the 3rd world are increasingly up to speed on how important they are in terms of our public companies continuing to reflect totally over the top Price/Earnings ratios, and don’t forget these public corporations have been fudging their earnings in earnest since the mid to late 1980s when it started to become all but impossible to “assess risk”.
Again the “Command Performance” of Bill Lerach Esq. the co-chairman of the 2,000 pound gorilla SCAL [Shareholder Class Action Lawyer-Liar] law firm of Milberg Weiss-Lerach in the spring of 1999 with his “Astonishingly!” being better understood, agree?
The “smart money” sitting on the sideline getting increasingly nervous with each tick of the almighty powerful clock, the collapse of the world’s monetary system very much in the hands of the masses in the 3rd World, agree?
All they need to do assuming they don’t have the monies to short the shares of certain strategic public corporations is to mosey on down to their churches-synagogues-mosques and ask the priest-rabbi-mullah why on earth since we have won the race for “survival of the fittest” should we continue other than being brain dead or selfish to populate an already incredibly overpopulated SpaceShip Mother Earth while their colleagues in the 1st world have begun to shut their big mouths knowing that their gravy train is dependant on the population in the 1st World decreasing, agree?
Without the church there is no poor and without the poor there is no church, to mention little of less LWWE victims coming forward seeking financial restitution from these institutions for a number of things that go beyond us needing assistance interpreting the 10 commandments, so much pitiful commentary leading to people with “tTOo much” [sic] time on their hands increasingly incapable of keeping their hands off our young to mention just in passing what the penalty should be for the practice of G-D without a license from our Almighty SMART G-D[1]?
Remember now independent insurance agents have to disclose to their customers, people like poor, poor, Gary and poor, poor Derrick Beare what is meant by “collusion” as well as annunciate in 4th grade English the implications of the United States’ top cop not shutting down the First Family of Insurance, agree?
The line the Attorney General of New York walked by not laying out the “legal connection” between the Chief Executive Officers of the $280 billion criminal megalopoly of AIG-Marsh & McLennan-ACE Ltd all coming from one branch, my pal Maurice “Hank” Greenberg, papa bear, and his “tTOo sons” [sic] pulling out all stops including getting sister and Doctor Catherine London Greenberg to utter the unadulterated garbage, “My family never discusses business” with Mr. RBS figuring one way to get more than “chomp change” as part of his Separation Settlement Agreement was to chime in with his 2 pennies, “I concur”, agree?
One must constantly place oneself in the shoes of those who understand it seems this information a whole lot better than most of us Lilly White Wheaty Eating Boys and Girls would prefer they didn’t, agree?
One cannot count on the patience of the Tefo Mohapis to not seek short term gain by a financial market collapse caused not by some terrorist act like messing any more with our food supply, remember we did it to ourselves with Aspartame back in the mid 1980s where even a megalopoly like AIG refused to underwrite SG Searle the manufacturer of the terrific short term memory loss drug, nor to bother with simply shorting less than a handful of public corporations, but again to simply take pride increasing the amount of times a day they whisper in to the ears of their friends until eventually every rabbi-priest-mullah in the 3rd world gets the message loud and clear,
“Don’t mess any longer with our young now being schooled ever so wisely to question the money trail beginning with the Diamond Invention promoted by the DeBeers-Oppenheimer-Engelhard-Kennedy Anglo American Mafia of Mafia Cartels who unlike the drug cartels around the world fail to take care of their own, moreover practice discrimination against those most vulnerable to discrimination, the poor and downtrodden having been suckled on a
“A Diamond is 4ever... a girl’s best friend” [sic].
In the words of my rather remarkable Client-Partner-Wife Marie Dion who G-d willing u will also get to meet, just handing me a glass of wine as we now catch the end of another most incredible sunset,
“The world would be far better off if women were on permanent PMS then they wouldn’t put up with any of the bullshit.”
Later,
Gary
|
How to Succeed on Wall Street, Conflict-Free Kevin J. Cameron, left, Gregory P. Taxin and Lynn E. Turner of Glass Lewis, the research firm formed in 2003. Its clients include 7 of the top 10 mutual fund companies. |
GREGORY P. TAXIN was appalled at the state of brokerage firm research at the
turn of the century. The system was so broken that he decided the only way to
give investors what they really needed was to start from scratch.
Mr. Taxin would create a firm, Glass Lewis & Company, that would provide
big stock investors with sharply analytical and unbiased advice. The surprise
is how quickly Glass Lewis, based in
In the two years since the regulatory investigation into Wall Street research highlighted conflicts of interest at brokerage firms, many independent research firms have sprung up to serve investors who fear that analysis from companies with investment banking operations might still be biased in favor of clients, or potential clients. One requirement of the $1.4 billion deal struck by the Wall Street firms to settle the investigation was that they offer customers independent research as well as their own.
But while many independent research shops have struggled, Glass Lewis has thrived, attracting clients that include 7 of the top 10 mutual fund companies and 9 of the 15 largest public pension funds. Over all, its customers manage $8 trillion in assets.
The firm started to take shape in 2002, when Mr. Taxin was a technology banker at Banc of America Securities. He and his co-founders, Lawrence M. Howell, an investment banker, and Kevin J. Cameron, a lawyer who had been general counsel at several technology companies, began serious discussions to start a research firm.
Glass Lewis's formation followed the stock market collapse of 2000, when it became painfully clear how woeful Wall Street analysts had been at identifying risks in companies. But it also occurred as public companies' financial statements were becoming increasingly complex and as scrutiny of institutional investors' votes on proxy issues became more intense.
"Investors were getting little help from analysts on accounting, financial transparency issues, corporate governance or corporate integrity," said Mr. Taxin, who is 35. "Helping investors answer the question, 'Is this management team working in the interest of shareholders, or is there some other motivation for their conduct?' takes a strange mix of accounting, legal, financial and Wall Street expertise that hadn't been put together under one roof."
The firm was named for two Supreme Court justices who fought for individual rights and ethical corporate practices, Mr. Taxin said. "Glass" is derived from the surname of William O. Douglas, a former Securities and Exchange Commission chairman and a justice from 1939 to 1975, while "Lewis" is a bow to Louis D. Brandeis, a justice from 1916 to 1939 who wrote "Other People's Money and How the Bankers Use It."
Neither Glass Lewis nor its principals invest in any securities on which it reports. And it does not manage money for its own account or for others.
Glass Lewis's first hire was Lynn E. Turner, its managing director of research and a chief accountant of the S.E.C. from July 1998 to August 2001. Mr. Turner is a vocal critic of the accounting gimmicks used by companies to dress up their financial statements.
He oversees 30 analysts who follow 6,200 companies worldwide. Most of his staff members have advanced degrees in accounting, law, finance or public policy. The firm is best known, however, for the advice it gives investors about how to vote their proxies at corporate meetings. Glass Lewis has unseated Institutional Shareholder Services of Rockville, Md., from its position as the undisputed leader in the field.
Glass Lewis was able to compete aggressively with I.S.S. because the firms differ in their business structures. I.S.S., for example, provides governance advice to public companies in addition to recommending how shareholders should vote on proxy issues. Glass Lewis provides no governance advice.
By advising both companies and their shareholders on corporate governance issues, I.S.S. has created a potential for bias, some former clients say. This has opened the door to Glass Lewis.
[1] Perhaps worth repeating what I sent Mr. Henninger of the Wall Street Journal this past Friday:
Ingenious these Epilady South African accountants, one head of marketing and the other the Chief Financial Officer of this one of a kind pubic, no strike that, very public hair removal company to while computing “costs of sales”, the greater the ending inventory the lower the “cost of sales” the greater the profits, to have their so colorful people who were not part of their Broadway musical Meet Me In St. Louis meticulously count the returned Epiladys in inventory while fastidiously ignoring double entry booking rules taught in junior high of even the most retarded 3rd world schools such as Carmel College, Durban, South Africa which I attended, failing to reduce sales by the returns resulting in for every $1 returned $1 going to the bottom line, it not taking that many orthodox Jewish rocket scientists to work out that by getting negative press one’s profits and the accompanying bonuses would simply go thru the roof, more than a handful of returned Epliladys I personally saw contained seemingly live varicose veins to keep the increasingly under pressure cardiologists off the unemployment lines at least until such time as they finish reading this missive, although the smell of rotting flesh precluded me from getting all that close to provide a scientific pathology report.
Now what I failed to point out was that when selling Epiladys only a small percentage of the sale’s price went to the bottom since there were expenses like getting women to lie naked on top of tables full of the most incredible food for us Jewish Romans, point being the profitability associated with people returning their Epiladys even with live varicose veins,,,, now just think of the worst rotting smell of our brothers and sisters at the back of the line crossing the desert with the type of winds we saw here last week blowing in their faces, was a much better business than selling them back in to the food chain, no strike that,,,, well u get my drift,,, just think the next spoof on the movie Chain Saw Massacres.
