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One Pegasus Puff Piece, coming right up!

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January 05, 2007 – Comments (2)

Got this email today from MN1, a stock-promoting website featuring "news" on penny stocks and rent-an-analyst reports by some guy named "mike." He's the one who was shilling Manchester Inc, was involved with Rufus at Conversion Solutions, has let Patrick Bryne rant on about the conspiracies, and other utter nonsense.

Here's the email:

"I’m working on a story about Pegasus Wireless and the class action lawsuit filed against them by Brower Piven. Since your piece on Aug. 24, 2006, seems to be at the heart of their argument, I was hoping you wouldn’t mind answering a couple of questions (I’ve listed them in order of importance):

How hard was it to uncover that information?

Brower Piven attributes your story to a precipitous fall in Pegasus Wireless stock prices – how much credence do you put into that argument?

What advice would you give anyone investing in a penny stock?

Thanks in advance. Of course, I am on deadline…

Bethany"

Here's My response:

"Sorry Bethany, MN1 is well known to me as a stock-shilling website that takes money to promote questionable businesses, all the while masquerading as news.

I won't have anything to do with it."

These people are what's wrong with Wall Street. And they're part of the reason I spend so much time digging for the truth behind the hype.

Watch your wallets, folks. There are plenty of hot fingers out there.

2 Comments – Post Your Own

#1) On January 05, 2007 at 2:41 PM, TMFBent (99.81) wrote:

Update. I think I actually feel sorry for Bethany. If she's trying to legitamize MN1, she's towing a heavy load. (And try not to snot yourself reading MN1's catchline in here signature...)

On 1/5/07, Bethany Anderson <bethany@mn1.com> wrote:

I know the reputation of the company, but I also know my personal reputation and journalistic ethics, as well. I’ve been working quite hard to overcome that reputation. I was hoping that a fellow journalist might recognize the questions for what they were – legitimate questions to ask in the course of covering a story – and treat them as such.

I’ve been working quite hard to grow my very small staff into a bigger, better trained one that can do the digging I’ve already been trained to do – for more than 10 years. Candidly, it’s a pretty daunting task.

But I understand your reticence and thank you for your time.

Bethany Anderson

Senior Editor

Market News First - News You Can Trust

MY RESPONSE:

"No problem Bethany. I wish you good luck.

I simply will not have anything to do with a company that makes its money churning out paid "research" reports on some of the worst penny stocks I've ever seen."

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#2) On January 09, 2007 at 10:37 AM, worCkciN (73.95) wrote:

I admire your ethics TMFBent :thumbsup

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