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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: Mighty_Mezz who wrote (5786)6/27/2000 2:33:00 PM
From: Jeffrey S. Mitchell  Read Replies (1) of 7056
 
This paragraph is priceless:

Later, in the weeks before his ouster, Fenne's behavior grew worse. Without the board's consent, he had promoted the company's public relations director to CEO only to fire her two weeks later and went on a stock-granting spree, handing out millions of shares to employees and partners. The company's investors had also just learned that Pixelon had spent no less than $16 million -- out of $20 million in financing closed just one month earlier -- for a star-studded launch party that included performances by The Who and the Dixie Chicks.

thestandard.com

The ironic thing is that such a strategy of faking success isn't all that bad, albeit in this particular case way way overblown to the point of "scam". For example, I heard a story about two guys, Fred and Pete, from nearby Bridgeport, CT, who opened an eatery called Pete's Super Submarines. Not many people came. Instead of pumping money into promoting that one store, they decided to spend whatever they had on opening more shops to at least appear successful. Apparently it worked because attendance picked up dramatically at all locations. The duo opened another one and another and another and... then they changed the name to Subway!

- Jeff
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