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Pastimes : The Perils and Pitfalls of Investing With "Friends" -- Ignore unavailable to you. Want to Upgrade?

To: SI Bob who wrote (168)	10/28/2004 11:32:33 AM
From: heronwater	Read Replies (1) \| Respond to of 377

It was my understanding the settlement was paid to BusinessWire to, well, settle. And that the "insurance money" wasn't paid to the defendants but was paid to their lawyers under the umbrella policy held by one of the defendants. That has been the accepted understanding of everyone here on SI for years. No one ever questioned it before, have they? You're clearly saying that's not the case and are hinting that the defendants came out of that case with money. Can anyone enlighten me? I would love to have an Attorney come forth and enlighten all of us. wink wink say no more lol

To: SI Bob who wrote (168)	10/28/2004 11:46:41 AM
From: Buckey	Respond to of 377

I actually met an SI member and we got into business together on a venture. It was a seasonal business where I took over a part of his large territory to see if I could grow it and mutually benefit both of us. IT did not fail and noone lost any money and we both made a bit. I did not put as much effort into it as I needed as it was during golf season LOLOL bad season for me to be trying to grow a business. Anyway I let him assume my terrirtory after one season and he continues on. So this is an example of SI investment gone good - NOt real good but certainly not bad. Had potential. I moved on to a much larger venture and have since added two more companies into the fold - not SI related in anyway. Cheers.

To: SI Bob who wrote (168)	10/28/2004 12:35:51 PM
From: Rainy_Day_Woman	Respond to of 377

I like the new thread header much better thanks for chiming in on it and thanks to Bill for changing it my long experience in SI on what to avoid? friends investing in friends high-risk investing sending good money after bad [kinda like averaging down] I have also known TLC for years, have spoken with him, have visited his sites by invitation - he never once asked me for money - was always helpful - so I personally have no issues or complaints with the man sorry to hear others do

To: SI Bob who wrote (168)	10/28/2004 1:36:43 PM
From: Bill Ulrich	Read Replies (1) \| Respond to of 377

From April to June '99, we tried as many pro bono avenues as we could find or were referred to. With no success there, we hired Methven & Assoc. (the atty). The contributions were collected into the fund pool, then sent directly to Methven & Assoc. The insurance company did not come into the game until about 6-8 months after the Bizwire saga started. By then, Methven's bill was already more than 2x what the fund had. Fund was about 27k, bill was about 67k, insurance paid Methven the other 40k. All of the fund monies went to Methven. Earlier in the process, around June I think, Chicken and I had a big disagreement. He want the fund money to be used to pay him, (he who wasn't even a party in the matter). Your contributions would go to him for licensing of a cOUSIN sHORTY T-Shirt, which would then be sold and 25% of sales would go to the fund, 75% to Chicken. I said that I didn't believe the contributors would appreciate that kind of usage of their money. I believe their intention was 100% of that go to the lawyers, its actual purpose. I stand by that decision. This is all to the best of my memory and any questions about the insurance company should be referred to Jeff Mitchell.

To: SI Bob who wrote (168)	1/15/2005 8:42:03 PM
From: Ilaine	Read Replies (1) \| Respond to of 377

Shortly before Edwarda passed away, a number of us sent money to get her sister up to the hospital to be with her and to, if necessary, settle her affairs. My contribution was $500. This was before the airfare wars were in full swing. Is my memory failing me? I remember buying Edwarda's sister that ticket, and it cost $507.92, round trip ticket for two on Delta from Atlanta to Newark June 17, 2000, depart Newark June 24, 2000. Still have the email from expedia.com. I was reimbursed by several SI people, including Ish, Rambi, and Sherri Fox. Shoot1st set up a bank account for people to wire living expenses for Edwarda's sister and her niece, that's prolly where you sent money. I know E kicked in something but can't remember whether it was for the ticket or the general account. I thought everybody realized from the beginning that Edwarda and her sister were estranged, but the process was intended to get a family member to her bedside in order to render assistance. Which she did. I know the sister was there, I spoke to her on the phone, and jlallen visited the bedside. So, the money was well spent. Nobody knew at the time that Edwarda would never wake up. I did TLC a favor about that time, and he repaid me with a really nice painting of a cat. It's always kind of freaked me out because it looks just like my cat, the one who's sleeping on the table next to me right now as I type. He never saw a photo of my cat, so it was just his imagination. I also have a Market Spirit mouse pad (somewhere). 2000 was a very crazy time. The day trading stuff always looked too crazy to me, the finger pointing even crazier. Someone should write a book about it. Strange that nobody really has yet.