Interesting Info from SGGM Proceedings

[digby]

I don't know if anyone is interested, but this is something I had sent to me. Sure is interesting to me.
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In a message dated 9/23/2005 9:18:04 P.M. Eastern Daylight Time, [e-mail] writes:


Author Topic: Very-Tired ...... Paltalk 9/23/05..... (Read 96
times)
imSINGLEruRICH
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Very-Tired ...... Paltalk 9/23/05.....
« Thread Started on Today at 9:06pm »

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this is from paltalk.... very interesting but remember it must be
treated as rumor !!

1:25 AM) very_tired1: If I can close my escrow next week before it
happens, I am going to double my position

(1:26 AM) very_tired1: I hear it is literally anytime...

(1:27 AM) very_tired1: there will be a big anouncement anytime... //
yes...

(1:28 AM) very_tired1: I had an interesting experience.... I was the
attorney representing a client at an SEC deposition regarding
SGGM... it was very interesting how the SEC is dealing with Urban...
(1:29 AM) very_tired1: kid gloves...
(1:29 AM) very_tired1: almost as if they "had his back"
(1:29 AM) very_tired1: almost as if they were told to leave him alone
(1:29 AM) very_tired1: hard to say.. probably in time

(1:31 AM) very_tired1: they know of the fact Urban spent a lot of
money on his own personal fun.. and it seems as if they don;t seem
to care
(1:31 AM) very_tired1: which is in line with the hope that there is
a settlement and the SEC is involved

(1:33 AM) very_tired1: don't know if they will halt it.. the best
thing to see for the halting of SGGM is looking at the fact they did
not file.. and the public action by the SEC against the company
(1:36 AM) mccurdydon: cmkxdiamond.proboards32.com/index.cgi?
board=general&action=display&thread=1127335553
(1:36 AM) *** konga66 has left the group ***
(1:37 AM) very_tired1: The monetary settlelement amount? Could be
anything from .05 to $1.76.. those are the figures I have seen
tossed about
(1:41 AM) very_tired1: Zman.. the money will come from the offshore
hedge funds.. as well as domestic brokers, their insurance policies,
bonds, and from the DTCC who I believe will cover the rest

(1:46 AM) very_tired1: Urban in CHina.. I will bet it deals with oil
sales.. jmho though

(1:46 AM) very_tired1: my opinion? I believe cHINA WITHDREW ITS
OFFER TO PURCHASE uNOCAL BECAUSE THE us AGREED TO SHARE SOME OF THE
OIL WITH CHINA...

(1:49 AM) very_tired1: I think China used the purchasing of Unocal
as a tool of leverage to force the USA to share this oil find with
them

(1:52 AM) very_tired1: I believe Mahue was here for 2 big reasons..
1 was to deal with the NSS situation.. the second was to insure that
the US got control of the Uranium and Oil (the Uranium for nat'l
security reasons).. but CHina wanted some of the oil.. used the
Unocal deal as leverage
(1:52 AM) very_tired1: so the US cut them in
(1:53 AM) very_tired1: I believe that the last thing Bush wanted was
China owining a huge US oil company
(1:54 AM) very_tired1: THe SEC is not gong after Urban.. in my
opinion.. I listened to depositions about Edwards, Harlan and
others.. Urban's name came up but they hardly touched him
(1:55 AM) very_tired1: Not too good of things...

www.st-luke.org/downloads/Alan%20Very_tired.doc
« Last Edit: Today at 9:08pm by imSINGLEruRICH »

[raidermike99]

It is interesting and I have been trying to find any info
on SGGM and it's SEC issues. I can't find any.

[raidermike99]

www.sec.gov/litigation/admin/34-51961-o.pdf

According to this the SEC has 120 days to rule on SGGM.
That was dated July 1 2005. I can't even find where they scheduled a hearing yet!!

[digby]

raidermike99 said:

www.sec.gov/litigation/admin/34-51961-o.pdf

According to this the SEC has 120 days to rule on SGGM.
That was dated July 1 2005. I can't even find where they scheduled a hearing yet!!

I may be wrong, but I suspect there never will be a hearing held. This is all a fake-out for some unexplained reason. If we do indeed get some kind of settlement within the next couple weeks, I'd think the issue just disappears with no explanation given.

[raidermike99]

digby said:

raidermike99 said:

www.sec.gov/litigation/admin/34-51961-o.pdf

According to this the SEC has 120 days to rule on SGGM.
That was dated July 1 2005. I can't even find where they scheduled a hearing yet!!

I may be wrong, but I suspect there never will be a hearing held. This is all a fake-out for some unexplained reason. If we do indeed get some kind of settlement within the next couple weeks, I'd think the issue just disappears with no explanation given.

I am thinking you are correct!!

[digby]

We never did get a dividend on SGGM, is this because the company did not want it laden with Naked Short baggage? One way or another, SGGM is going to be a part of this play.