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Biotech / Medical : Neurogen (NRGN) -- Ignore unavailable to you. Want to Upgrade?

To: F. Jay Abella, III who wrote (135)	12/10/1997 5:17:00 PM
From: celeryroot.com	Respond to of 523

Then answer two simple questions: Is Westergaard being paid to promote SUPG?? Is Westergaard being paid to promote SUNP??

To: F. Jay Abella, III who wrote (135)	12/10/1997 9:09:00 PM
From: Pluvia	Read Replies (2) \| Respond to of 523

Celeryroot, I think you may find F. Jay Abella has a hard time disclosing his position regarding payment for his analysis. Yesterday on the HEB thread Linda asked him if he was paid to promote HEB. here's how he responded: <<<For the record, HEB came to our June 1997 BioMedTech conference. That service has been rendered.>>> WOW -- service has been rendered. Jeeze Jay -- that's not very clear. For a guy that wants us all to believe you are an objective analyst you sure have a hard time telling us how much $$$$$ motivation you get paid to be this great "objective" analyst! Westergaard has stated that he gets paid somewhere around $8,000 to feature companies at his conferences. Westergaard also admits charging $30,000 for companies to become "member affiliates" of his WBN network. Included in the $30,000 -- is coverage by an analyst. Sounds like paid coverage to me? Perhaps Jay could tell us, does attendance at the conference also include paid coverage by an analyst? But Celeryroot -- this little drama gets even more interesting as you dig deeper -- Westergaard has admitted taking 144 stock from some of the companies he promotes at his conferences, and he has also agreed he would take 144 stock for his WBN services. BUT WAIT -- he says on his website: <snip> "Officers and employees of Westergaard Online Systems, Inc. do not invest or trade in securities covered in our various services." <snip> westergaard.com:8080/Mailbag/961219.html WOW! that looks downright misleading to me! Perhaps F. Jay could shed some light on this matter from an analysts point of view. Jay -- do you know what the SEC has to say about that? Celeryroot, F. Jay III may be a great analyst. IMO that is not the point here. It is his ethics. The Westergaard Website IMO is deceptive to investors by failing to disclose that Westergaard is paid to promote stocks. And to make matters worse F. Jay's Westergaard website has disclaimers which makes it look like they have no financial incentive from any of the companies they are actually paid to promote! This promotion looks to me like it is mixed in with hard hitting analysis. This "set-up" cleverly disguises the paid hype with real analysis. Jay's failure to admit he and his employer Westergaard have financial motivation to tout stocks is very disturbing to me. It is disturbing to me because I doubt there are too many examples of companies that Westergaard is paid to promote -- that do not receive some sort of "Bullish" coverage from Westergaard's organization. I also doubt there are many examples of a companies that paid Westergaard to promote them that got negative coverage. This is obviously a side note to NRGN posters, and has perhaps nothing to do with what may be a great company. But it is a word of warning to SI members -- KNOW WHO THE PAID PROMOTERS ARE. Best of luck with your investments -- lets all make some money! Cheers Steve