What a top bloke!

[Waldo]

G'day Rrich,

We can excuse you for not understanding, to enlighten you.

This guy sends out 1,000's of letters to people owning shares, he offers them usually half the value of the share and then when you read the fine print the payments are paid over a period of 10 years or so.

It's deceitful and it's dishonest and unfortunately it rips many peolpe off who are gulible / don't read the fineprint.

(and bugger it my spelling isn't too good)

[Felder]

What is so wrong with someone offering to buy something? I'm not sure of the context of the offer or why it is against the law?

I get idiot Real Estate Agents and Brokers offering to buy my place all the time. Not only do they offer half price, but they kindly offer to allow me to pay all closing costs and their commisions. If I'm really interesteed, they will pay with zero coupon bonds face value for face value. (Zero coupon bonds do not pay interest and only pay full price at maturity. They are sold at a discount.) When one shakes hands with these types it is necessary to count your fingers afterwards.

What Wongo and Waldo said, rrich.

These scum work on the theory that if they send out enough letters to enough people then hopefully they will stumble across someone either stupid, desperate for immediate cash or are unaware how to sell their shares at market value. In short, they are sending people letters offering to rip them off.:mad:

And the real estate agents you have to deal with don't sound much better, either.

I'm with Wongo - the elderly are the ones who are often at risk and for someone to stoop so low as to rip off a little old lady and the portfolio her husband left for her (yes - I know I am stereo-typing) makes my guts churn!:mad: And for what?? Just so he can buy a better sports car to garage in his harbourside mansion?:mad:

Now I'm cranky. I need to do something to make myself feel better.
Free Felder machines to everyone who rings me in the next sixty seconds!

[Felder]

Now I'm cranky. I need to do something to make myself feel better.
Free Felder machines to everyone who rings me in the next sixty seconds!

Time's up . Lucky I didn't put my phone number on my post......could've been hell to pay when I speak to Austria tonight.......

[Waldo]

G'day Felder,

PM me your ph number!

[Felder]

G'day Felder,

PM me your ph number!

Happy to, Waldo! Machines are back at full price though now.......still want it?

[Waldo]

G'day Felder,

No.

But I'll buy something at 1/2 price and pay for it over the next 10 years.

[Felder]

G'day Felder,

No.

But I'll buy something at 1/2 price and pay for it over the next 10 years.

LOL!

Good one. I'm not interested in your concept, but I know of a bloke by the name of Craigb who you may want to contact. I heard he is considering disposing of some shares in a similar manner.

[rrich]

Now I understand the issue...

I used to keep a list of the top three (Or bottom three depending upon your view point.) and it always started with Real Estate agents. There were always arguments about who should be second or third, but never about the first position.

[Des.K.]

Read that the Japanese have a name for this type of scam, but can't remember it - perhaps Schtoo or Goodwoody will oblige.

Sokaiya - gangsters interested in having their presence felt at annual general meetings. Originally I believe they were used to intimidate any nuisance shareholders who would dare to ask corporate executives questions and therefore upset the desired general meeting "harmony". The yakuza then refined this and, having bought a few shares, threatened to cause problems at the meetings. To prevent disruption, the company would normally pay these extortionists off. If paid, they would then enforce the "no questions" rule. It was so widespread that the major companies even had departments to "deal" with this problem. I think the problem has been largely cleaned up with tougher legislation.

Des

[AlexS]

Thanks Des, that's the word. Looked it up m'self in 'The meaning of Ting', a handy reference to unusual words in many languages.

[silentC]

So what does 'ting' mean, Alex?

[AlexS]

I'll go back to the bookshop and look it up for you Silent.

Cheers,
Alex the tight@rse