Wednesday, November 14, 2007

FED UP!!

Ok, I think I am officially fed up. This morning, when I logged on , I received a notice form the SL Exchange Commission group, of which I am a member, which basically demanded that either LukeConnell pays Midas Commons 650k (his portion of the bond payment from the Hope Capital bonds that was deferred), or they are calling on all members to delist from the World Stock Exchange. Failing that, they are asking all investors to divest from companies that do not delist. It was a three paragraph memo - with no real details. It was sent by Intlibber Brautigan.

Ok, is it just me, or is it time for all these big men to put their penises back in their pants and stop waving them about and thumping their chests???

I am not going to go into details about the Midas Bank debacle - it has already been flogged (and blogged) to death. There is a good synopsis and discussion on Maelstrom Baphomet's newsletter blog - The Dragon's Bite. I do find it interesting that Midas Common's acount is gone, though...

What is driving me crazy and making me sick to death of this whole "stock exchange" and "financial sector of SL" nightmare - is the self-appointed, puffed-up egotists who claim to have some sort or authority (be it moral or actual) over anything. Who on earth is the SLEC to demand that I delist???? When one of their Board Members actually OWNS ANOTHER EXCHANGE?? are you kidding me??

This kind of move is both childish and harmful. Childish, because the announcement from SLEC was so obviously in conflict of interest, and so blatantly biased. Let me be totally clear - the concept of an SLEC is a good one - which is why I joined it early on. But they have been conspicuously silent about all of the other scams and rip-offs going on in the financial community - until this one. And THEN, they don't even have the decency to call on Luke to provide the bond payment to everyone as initially promised - they simply ask him to pay ONE INVESTOR the amount he would have been due. And, that investor no longer exists in Second Life! And, it is harmful, because someone might actually read it and take it seriously!

As I said, I am not weighing in on the Midas Bank affair - I have educated myself as best I can about it and I have my own opinions about what happened, and whether it was right or wrong - on both sides of the story.

But this Notice from SLEC is a direct attack on Delicious Demar Enterprises - whether it was intended to be or not. It is telling me, that based on some as yet undisclosed investigation, that I should delist in the middle of a secondary offer - or else it is calling on my investors to boycott DDE and sell off thier shares. If anybody actually took the SLEC seriously, then it would have the potential to cause panic, uncertainty, etc... This makes me furious!

And, as I said, fed up. My first thoughts when I read this announcement, and then educated myself about the Midas Bank affair was this: get the fuck out!

I am seriously contemplating a planned and orderly withdrawl from the WSE, and i will definitely NEVER list on another exchange. Of course, I would never do it in such a way to screw my investors, and would plan for an agressive buyback strategy, rather than a liquidation - so it would take some time to complete.

but I have had enough of this. I run a good company - and owe everything to my investors and what you have allowed me to accomplish. But the ground keeps shifting under my feet. And nobody else (well - ok - a few) plays by the rules! Never fear - I will alwyas take care fo the people that have given me their money to build my business - i am NOT like the ones that have taken your money and run away.

and of course, I am angry and ranting... lol - probably by this time tomorrow I will have thought better about my outburst. But for TODAY - Dayummmmm, am I pissed! And you deserve to know about it!

DD

27 comments:

Maelstrom Baphomet said...

I told them it would be pointless and backfire. They never listen to me.

concerned investor said...

I have no knowledge of Midas and his problems. But I do know how bonds work. A bond is essentially a loan, and in the case of HCB, one with a fixed interest and amortization schedule. In the real world, when a borrower does not make a scheduled debt payment, we say that the borrower is "in default." However, Hope Capital did not make its scheduled interest and principal payment on Nov 2, yet no one is holding Luke's feet to the fire... Is Hope Capital insolvent??

MouzurX Wise said...

I agree. Publishing such an announcement is just plain unprofessional. The Second Life Exchange Commission? Aha...like Delicious, I initially thought it was a good idea, but it turned out not to be.

By the way, it seems to me that almost no one noticed that Luke Connell mentioned in the Hope Capital report that HCB would not pay interest in it's first quarter...

Delicious Demar said...

Well - I am not defending HCL/HCB at all - although there is a difference between "in default" and "insolvent". I didn't really get into the specifics of all that. I encourage you to all discuss whatever you like, but it isn't something I am prepared to weigh in on at this time.

Suffice to say, I saw things on both sides that made me shake my head and say, "Hmmmmmm"...

concerned investor said...

your point is moot mouzurx. did he also say that BEFORE he sold HCB shares?? no, when HCB was sold at IPO, there was a payment scheduled for Nov 2. Luke can't just decide not to pay it (well apparently he can), the bondholders have to consent. at least that's how bonds work in the real world. but this is Luke's world, Luke's imagination...

casper trebuchet said...

calm down, honey, barking dogs don't bite - they just annoy.

I like your analysis which is absolutely correct and I think the idea rather thrilling that someone may believe that I execute what an avatar is yelling to me. My Latin is a bit encrusted but I still believe in "LIBB...Liber" of thouths and opinions and have zero tolerance towards poeple who show no respect towards others.

SL is not a kind of military correction camp...at least I hope so. And honestly, I'm too "Spiritus LIBER" to fit in any of those..this is the Robin Hood in me...lol..

I just disagree in one point with you DD, it is not worth to write so much about.

Let's better look forward. 3D-Web is an issue as are virtual stock exchanges. All these discussions about regulation lead to nothing as they suppress innovation.

But innovation is important to develop this SL environment to something new nobody still know about. And hey, self regulation also works. We don't need US-Marshals celebrating law and order with their colts or sadistic instruction officers- we need more Spiritum liber, communication and thus innovation.

Your blog is an important contribution to it.

To end with military language for those who don't understand differently "Yes, Sir, understood, liber thoughts, communication, no delist per se at any stock exchange"- zack.

Casper

Duke Mercy said...

Really not surprised by this. Always a smart move to set up a regulatory organization yourself with you having all the power, after which you set up your own SL Scamchange.

Then you proceed to use your regulatory to attack all other exchanges for being evil and attempt to steal customers that way.

Nah, it was dead clear for me that this was going to happen. It only surprises me that he was so idiotic to actually bring out such an extremely controversial statement in his own name - he probably forgot about that.

I can only laugh at it - I have been against the conflict-of-interest infected SLEC from start. It's a rubbish organization and serves the pockets of many scam artists itself.

I am not going to make any statements on the lack of HCB bond payments, apart from stating that it suits the unprofessionality currently seen on these "virtual stock exchanges".

And I maintain the vision that these "virtual stock exchanges" show worrisome similiarities with the Stock Generation ponzi scheme (http://en.wikipedia.org/wiki/Stock_Generation).

And why do I hear noone on THI / TGB by the way?

Nah, these "virtual stock markets" are melting faster than snow during mid summer (and that with global warming these days!). I am tired of noone around here realizing how things SHOULD be run and these "virtual stock exchanges" turning a blind eye towards all the fraud because they simply don't care about anything except for "investor confidence" (since that is what directly raises them money).

In fact, I wouldn't even be surprised if various of these exchanges eventually turn out to be pure scams themselves. I don't get why noone is talking about that yet. Banks are going bankrupt left and right, but somehow noone fears for the "virtual stock exchanges". Oh wait, I forgot: they don't really have any obligations to anyone and simply don't pay dividend payments, so they can't go bankrupt...

An estimated value of L$200,000,000 has already vanquished into air... How much more money do people in SL have to spare to fund these exchanges?

~Duke Mercy
~CEO & Fund Manager
~Secure Hedge Fund (WSE)

IntLibber Brautigan said...

DD, There are representatives of three exchanges on the SLEC, ACE, SLCapex, and ISE.

While nobody is ordering you to sell anything, we all have a choice here: we can either take personal responsibility for regulating the market by voting with our lidens which exchange to be involved in, or we can just welcome the RL government regulators in the door to nanny-state and tax us all to death like they do in RL. Choice is up to you: liberty or death by a thousand regulations.

Thats what the SLEC is about.

Keep in mind that I founded the SLEC when I was a director of Hope Capital. When I turned over control to Traderjohn Susa, I left the group and was later elected to a public seat on the board. We just had an election to elect four new public members to the board. The public now outnumbers the exchanges on the BOD of SLEC. How effective it is in applying standards to our market like UL and Consumers Reports does in RL, is a matter of whether investors choose to vote with their lindens for their greater long term self interest, or blindly become occupied with their short term self interest.

Its up to you.

Delicious Demar said...

@Casper - thanks for the calming words... I know I should be the calm mild-mannered Del that you have all come to know and love (rofl). However, I do tend to get a bit miffed when some self-appointed, self-interested group tries to tell me what my "duty" is... I, too, am a free spirit that will make up my own mind... But I'll be damned if I'll keep doing it quietly.

@ Duke. Amen, brother. I couldn't agree more that it was a massive error in judgment for Intlibber to send an announcement out under his own name. however, I don't think he forgot about it - hence his response to this blog above... It is good to see other CEO's rallying around. While clearly, none of us would support unethical behaviour in the owners of an exchange - including the WSE - the over-the-top approach of SLEC is just laughable.

And @ Intlibber. Thanks for posting a response here - I appreciate it. To begin - let's look at the actual text of the message that I received this morning, and that is posted on the Ancapex website:

"After hearing testimony from individuals investigating the situation of HCB refusing to pay its dividend despite claiming to have ample assets to do so, and using said default to attempt to force Midas Bank to turn over its assets to LukeConnell Vandeverre, the SLEC has voted in favor of demanding that LukeConnell Vandeverre pay the dividend of 650,000 L$ to Midas Commons within 48 hours.

It is the responsibility of those issuing bonds to pay dividends when they have committed to do so. Using a refusal to pay a dividend as a lever to commit a hostile takeover of a company one owes money to is not a legitimate or ethical market action. Lukes actions constitute a gross breach of ethics and a violation of the trust he holds from investors and CEOs.

The mission of the SLEC is to use market pressure and publicity to execute its enforcement actions. SLEC membership constitutes over 70 listed companies and hundreds of investors from around SL. As such, should Luke refuse to pay the dividend, it is the duty of all investors and listed companies to divest from HCL and delist their companies from WSE. Companies that refuse to delist from WSE should likewise be divested from by the investing public. Listed Companies have 1 week from the 48 hour deadline to complete a delisting and relisting upon another exchange."

All I can say about your post here is - nice words... They sound very noble and right-minded. but, the fact that three other exchanges are represented on the SLEC doesn't make things better - it makes them worse! Having owners and operators of those exchanges using it as a platform to strong arm the actions of another, unrepresented exchange, is unconscionable.

I guess at the root of it is this - your amateurish announcement gave no specifics, no facts that i could see, and no basis on which the decision was made. Personally, I make my own decisions, based on the facts as I understand them, and never based on the unsubstantiated findings of a group that is in a clear conflict of interest.

If you are right - prove it. I for one have no intention of delisting from WSE in response to this decision by the SLEC - and have asked SLEC to remove me from their active members list. If I do decide to delist from the WSE - I will not relist with another exchange, and i will do it carefully and thoughtfully and with the full participation of my investors. I still consider this decision by SLEC as a direct attack on the not only the WSE (which is one thing), but also on the CEO's and investors in all of its listed companies (which is quite another).

If SLEC is serious about wanting to bring some sanity to the investment world of Second Life, I think that this most recent step of theirs is a huge step backward. In the end, smart investors invest in COMPANIES, not in exchanges. I will stack DDE up against any other company on any exchange, and dare them to compare. And I will not be bullied or coerced into taking action.

Okay, i am still ranting... lol

IntLibber ShitLibber said...
This comment has been removed by a blog administrator.
romenmiles said...

Ok, from what has just been presented to me - the professional thing for the regulator to do would be to focus not just on the one company who has not received any outstanding bond interest payment - but the entire investor list of bondholders - SLEC if it is the regulator is to protect all NOT 1!
REGULATE - DO NOT DICTATE!
Any true regulator would also put to the public the reasons behind their decision and the facts which led to that decision.

oh brother said...

he can't even regulate his own ego!

Delicious Demar said...

OK people, let's keep the personal attacks to a minimum, shall we. This blog isn't a place for personal attacks, and was not intended to be a bash-Intlibber fest.

He's entitled to his opinion, and has posted it here quite civilly...

let's respond in kind.

D

Anonymous said...

It was a well-put comment D, (made me laugh..a lot!) but yes, this isn't really the place for it.

Anyone know of a forum where this is being discussed...OPENLY?!?

Pablo Sienkiewicz said...

First i will like to say that i don't usually blog, but so many things happen lately that i thought what the hell…it was about time.

I will also like to apologize for this long, and maybe tedious post…

I’ve seen CEOs running with inmense amounts of cash, and the so noble SLEC never said anything, I’ve seen CEOs making an announcement one day, and making another announcement contradicting themselves later, sometimes even within the same week , without any action been taken from the so noble SLEC. I’ve seen CEOs taking advantage of the high trading volume of the wse to float theyr companies, and then run to another exchange, all to protect theyr shareholders that decided to invest on the wse in the first place, and the so noble SLEC never moved a finger to even mention it. I’ve seen CEOs just pilings companies under the same name, in order to get a huge amount of lindens and none of the work done, and the so noble SLEC never got involve. I’ve seen bank scams, company scams, land scams, bonds that seems a scam, going to a no dividend policy without any more info scam, CEOs gone MIA, and hundred of millions of lindens disappear like if Houdini was behind it and the so noble SLEC, never even investigated or tried to mitigate the damage. I’ve seen over 70 companies listed on the wse, and now there are 52 left, I think, and that number seems to go lower every week, and that never bother the so noble SLEC.
And then, surprise, the so noble SLEC does exist….it is real….they even have someone to at least post something, even if its so, how can I put so I don’t hurt anyones feelings? Well, screw it, so extremely ridiculous, that it cannot be taken serious.

I get that this is Luke’s “toy”, I get he is “playing” with a lot of peoples money, I get that sometimes I don’t agree with what Luke is doing, or how he is doing it, I get that the Midas take over was at least, weird, I get that if me, you, or anyone tells Luke something he doesn't agrees with, you can consider yourself screw, and I get he has enough tools to make any shareholder on the wse lifes miserable, but that doesn't mean we change one…. Hmmmm… guy on “God mode” for another one….that doesn't mean we have to like how Luke does things, or even agree to them, is what we are stuck with, period. Now on the other hand, Int, you rallying the troops, as If we were actually your troops, it just plain stupid. You never had in mind something as noble as the people, you never had in mind that BONDS have to be paid, you never had in mind that MAYBE a company was took over in an more than apparent not legal way, you never had those things in mind, you just said “hey guys, if Luke doesn't pay the bonds to midas, the 650k he owes, all the companies that are on the so noble SLEC will have to delist” How moron do you have to be, to even think that what your asking is reasonable, for the love of GOD! YOU PROBABLY ARE RIGHT, IT WAS PROBABLY A HOSTILE TAKE OVER, AND EVEN IF MIDAS WASN'T BANKRUPT, LUKE SHOULDN’T BEEN ABLE TO TAKE OVER A COMPANY THAT HE OWES 650K PERIOD. So, please, Int, get your act together, and before making a post think things thru….. maybe next time, and yes, I used maybe a lot in this post cause none of us has evidence, maybe next time, people will take you seriously.
On a more personal note, yeah, all that crap you just read wasn't personal enuff :o), I will like to say that I’m sick of reading about how noble is the people, when actually no one, or as Del says, only a very little few, are actually doing something for the people.
Pablo Sienkiewicz

Geyl Fapp said...

Jesus Christ People, what are we talking about? Let's get not in to flame wars.

As far as I can say, the 650K can't even back up the total of millions, and the WSE cant take responsibility for that

The 650k will NOT compensate ALL of the shareholders and account holders.

HCB has announced FAR erarlier that it couldn't meet its first divident payout like most SL company does far in advance!

650k! What the hell are we talking about... EVEN if it will be payed out... id DOESN'T solve anything and Midas Common's account deactivated???? It will NEVER come in the pocket of the people who have right to it.

Take the loss and go on! Like EVERY Real Life company does or any Real Life investor!

The Amsterdam Exchange also isn't responsible for such losses, like any exchange. Ask yourselves where the difference may be between the 650k and the other millions, haven't seen a cent of that!

G.

Anonymous said...

Delicious,

I had a lot of respect for you until now. I dont understand your comments.

The WSE fails to pay bonds interest. This is an act of bankruptcy, and yet you have no problem with it.

However when a group try to take some action against this very serious breach of financial law you get all upset.

Stop defending Luke Connell, and figure out what the rest of us already have. He is a little kid wih no competance or wthics whatsoever.

Splinkrot Writer said...

I don't have time to comment on everything as I am away and airports have CRAP web browsers...but this blog has more significance to the SL markets than you all might think, I'm sure Delicious Demar will agree that 'anonymous' posts are pointless, if you don't have the courage to stand up for your convictions then go post in a forum somewhere and leave proper discussion to those with integrity.

Last point as the $'s are clicking over and I have no more change...

While I agree that the "bond situation" was not handled (at this point) with RL laws in mind, it appears WSE is suffering from Russian blight, needless to say, if the 'big power' can't pay it's debts due to fundamental problems (as it weeds out fraud etc), it shouldn't be admonished completely, it's up to those that support it's mission (ie: the 'trustworthy' companies and investors) to help try and improve the environment. Ok, I know I'm all over the place but I'm under the pump.
I'm not saying it's up to others to bail out the WSE, it doesn't look like it needs it. I am saying that those that are pegging themselves as victims and those that have vested interests in the competition exchanges (..and seriously...there are 2 SLEC's?!) are using this point in time to flog their wares, which is making me sick. This is the worst PR/Advertising program I have seen for competition...which goes to show they really are a distant second (and third).

Sorry for the gibberish, but I am with Delicious Demar on "fed up".

Delicious Demar said...

thanks to all for the lively discussion... I agree that Anonymous posts are mostly useless - at least have the decency to IM me inworld.

Please don't assume that because I am slamming the SLEC, that I in any way support Luke's actions regarding his bonds, and the whole Midas bankruptcy, or whatever it was.

Just for the final punctuation mark on this whole affair - it turns out that the WSE has removed the announcement pointing to this post.

I think, quite possibly, that says it all...

DD

Logansan Oh said...

D,

You know that 'negative exchange-PR' announcements (that is, posts on the website that undermine the website) will be removed in haste.
TBH, I think this is pretty fair considering WSE is yet to follow up on the Midas/HCB issue itself yet. (Which it will, I'm sure...it HAS to!)
So until it does, discussions may need to be had offside (at least away from WSE website and those not interested in squabbles)

This is a great discussion and needs to be had. I had a rant myself the other day due to frustrations and I agree whole-heartedly with Casper about innovation and communication.

I'm sure this whole saga is WAY more complex than we can tell at this stage.
On a side note, I was approached for (what I am certain) comment on the "as yet undisclosed investigation" as I am sure some of you were and I am not convinced there is any information in this report thus far that substantiates and announcement from SLEC. Just seems to be kicking-while-down tactics.

You are a pillar D, along with LL, Casper, Pablo and others, not just of the WSE but of SL financial landscape. I feel together we could help self-regulate here better than the existing so-called regulator and it's hap-hazard band of luddites. (I hope that wasn't personal)
Kind regards,
Logansan Oh

Maelstrom Baphomet said...

BTW, Demar, going to link your blog here in the Bite as the firestorm brewing over this situation grows. There's some interesting back history to Midas over on the Bite if you want to link it in. He actually proposed an IPO on AVIX once. We rejected him for some pretty sound reasoning.

Jeb Gibb said...

I am not at all surprise at the amount of people that responded to this blog about this incident.. I tend to try to keep my comments to myself but I thought that I should maybe say something on this part. I actually thought it was wrong to see the SLEC come out and make annoucement about Hope Capital like that and it show a lack of respect as well as unprofessional.
So in closing this message I really think this is not the time to bicker with one another Luke stated on October 16th the following "Although the WSE has overcome the above financial challenges well it would not be appropriate or advisable for Hope Capital Ltd to pay a dividend for the quarters ending 6 August 2007 and 6 November 2007 and the bond interest payment for period ending 2nd November 2007. All profits currently being generated by Hope Capital Ltd are being held to offset previous unexpected losses. We expect to be in a position to meet all dividend and bond interest payments in the future as we will see a significant increase in trading volume and profit resulting from the anticipated high growth of WSE entering Mid November 2007 to February 2008."
He fully stated that he wasn't going to be able to make interest payments or bond interest payment because as we all no theif that occured. He plainly stated that basically the money that World Stock Exchange is making is plainly offsetting the losses that we incurred

LukeConnell Vandeverre said...

Dear fellow SL residents,

There has been a claim by a group called "SLEC" or Second Life Exchange Commission that CEO's delist or for shareholders to sell their shares.

The SLEC is not what it once was, it is now a front for IntLibber Brautigan to help him promote his new exchange and to allow him to try and create negative press about the WSE which he has always done since we left his land due to him trying to force WSE on a decision that wasn't in the interests of the market but his land business.

The announcement was directly posted to SLEC members by IntLibber Brautigan and only goes to confirm the above.

They allegations made by IntLibber concerning the Midas Bank situation are completely inaccurate.

Hope Capital announced that it would be cancelling the bond interest payment and dividend. These payments have been deferred and are to be paid at a future date.

Approximately 3 weeks later Midas Commons contacted me and asked if we were paying the interest. He had not read the announcement concerning his major investment and only read it after I asked him to at least 3 times.

Once he read the announcement he said that he would be bankrupt without as he would have no lindens for his bank depositors along with no lindens at all for commitments to his companies listed on the WSE.

I explained that we would not be changing our own financial decisions no matter what his financial position. He then repeated that he is bankrupt and that we must pay him the bond interest payment along with making many threats and demands.

Midas was clearly bankrupt and in distress and after showing signs of financial distress in the month leading up to this situation.

The WSE made a decision to lock his WSE account in order to prevent him from dumping his assets on the market, crashing prices and leaving SL which is a situation that has occurred to often in the past with other SL banks.

We informed Midas of these actions and requested that he supply the avatar names and balances of his bank depositors so that we could also allow them to benefit from the actions taken by WSE to ensure that users will get the best possible return on their deposits. To date Midas has only offered to provide such a list if Hope Capital honour his deposits of between 6 to 10m lindens in OurBank. Hope Capital isn't going to take on responsibility for an additional L$6-10m debt that was created by Midas Commons. There is also the potential for him to create false accounts under alternate avatars that would allow him to allocate himself huge balances and therefore steal lindens from the system.

Since Midas is bankrupt, a word he repeated multiple times to me, the WSE then delisted his listed companies and transferred all shareholders, shares and bonds of Midas companies to the WSE Traders Fund. We also removed any shares owned by Midas Commons in his own companies so that there Net Asset Value would remain close to what it was prior to the delisting of Midas companies.

This situation occurred approximately 3 weeks after Hope Capital had made its announcement concerning the bond interest payment and dividend and the decision has nothing to do with Midas Commons or an alleged takeover attempt.

The WSE Traders Fund shareholders own former Midas assets not HCL or the WSE.

There are over 25,000 WSE users of this less that 500 would even know what the SLEC was or is and even less would know anything about the Midas situation or the announcement by SLEC as their reach, membership and exposure to the market is limited. The demands by the SLEC should be taken as a grain of salt and not taken seriously.

The WSE does not acknowledge or endorse the SLEC for a number of reasons mostly as it is yet to follow up words and intentions with actions such as offering educational information to SL traders etc.

The WSE now has come along way since the 7th March 2007 to become the leading Internet based Stock Exchange system focused on virtual companies in Second Life.

Since being established it constantly overcomes any challenges it faces while improving and growing to provide users with and the world with a fully interactive trading experience.

The WSE has achieved over 25,646 accounts, raised IPO's over L$129,551,917.70, WIC$1,809.15, Secondary offers over L$27108766.30, WIC$2991.23 and had exchange turnover exceed L$509,690,788.19

The WSE is progressing well. We have been aggressively cleaning up the market, making sure CEO's keep the market updated and delisting any companies that fail to adhere to the WSE Constitution, Listing Rules and Terms.

We have also been extremely busy developing the very latest version of the WSE Platform called WSE 4.0 which is progressing well and we expect the new website design, layout, functionality and services should be completed by the 25th of December 2007.

We are cleaning up the market and developing the WSE trading platform ready for our worldwide launch of the World Stock Exchange to the mass market as the worlds leading internet based stock exchange platform to be used for educational and entertainment purposes.

We expect majority of future WSE traders will be general Internet users with a browser using the World Internet Currency as their chosen currency for trading on the WSE.

We expect that trading volume will exceed L$10m lindens per 24 hours with excess of 50,000 new WSE traders participating in the market.

We ask for your patience, continued support, continued regular updates to the market such as monthly announcements and financial reports while we complete this final major phase of the WSE's development and growth.

Before making any decision or taking any actions I always make sure that I'm fully aware of the possible consequences.

Every decision I make or action I take are made in the best interests of the majority of stakeholders at all times. There are times when we as leaders must make decisions that can lead to some negative consequences in the short term in order for us to make a greater positive impacts in the longer term. It is for this reason that WSE is still operational when many other virtual businesses and bank are not and it is for this reason that the WSE is on the verge of major growth.

Kind Regards,

LukeConnell Vandeverre,
Chairman & CEO
World Stock Exchange (WSE)
www.wselive.com

SirMarkus Kidd said...

I understand the frustration; I think the finance crowd are forgetting that we are playing around with a lot of people's hard work.

For me, the most meaningful recent "failure" is Jasper Tizzy, because it shows that while anyone can up and leave the game of Second Life at any moment, we don't have a nice way to deal with such a departure in our stock exchanges, although, if you think about it, any CEO should be well within his or her right to do so.

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You may begin earning with a money that usually goes
on daily food, that's 20-100 dollars.
I have been participating in one company's work for several years,
and I'm ready to let you know my secrets at my blog.

Please visit blog and send me private message to get the info.

P.S. I earn 1000-2000 per day now.

http://theinvestblog.com [url=http://theinvestblog.com]Online Investment Blog[/url]