Bill Wexler's Dog Pound Message Board

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Non-Tech : Bill Wexler's Dog Pound

REFR 1.600

+1.3%

3:55 PM EST

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To: Bill Wexler who started this subject	7/31/2001 12:35:52 PM
From: BinkY2K	of 10293

No takers on AREM? I assure you guys this topic may be worth discussing. Clearly, AREM is halted so nobody can take a position on either side. Let me give you a bit more. The following URL takes you to the web site for Irwin Jacobs. A wealthy guy who owns a big chunk of AREM and is fighting a huge short position that he insists is crooked. The URL takes you to his most recent letter but points to earlier ones. irwinljacobs.com I repeat my point. AREM wants to force a count and validation of all shares by replacing all stock certificates with new ones. This is a considerable annoyance to people on the street, especially since it seems likely that there was much shorting naked in some manner. Has anyone heard rumors (or better, facts) about this? I have no direct contacts in the short world and I don't care about AREM on the long side. I am wondering if the Nasdaq will allow its own rules (often ignored) to be flaunted or will it work with AREM to ensure a proper accounting and deal with transgressors firmly. My own opinion is that they won't. They may do some minor things but will not let the shorts lose big here. They may even broker a deal, for example, to let the naked shorts buy newly issued shares quietly. These are not serious guesses. I am just a skeptic that the Street will let this get through because it sets a precedent that could mess up what some shorts and their willing enablers on the street get away with all the time. And, yes, I think there are longs that cheat too! LOL! Just not me.

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