Own a Piece of Paper Implying Stock That Has No True Value Yet Ceremoniously Says You Own a Piece of the Packers. Or Don't. What Do I Care.

[Schneed10]

And I'm sure there's a good many people reading this thread and rolling their eyes at the outrage over this, but I'd bet a lot of money that the SEC will have a problem with this.

[Giantone]

Originally Posted by Schneed10

And I'm sure there's a good many people reading this thread and rolling their eyes at the outrage over this, but I'd bet a lot of money that the SEC will have a problem with this.

Why? They tell you that is non voting common stock....many companies have this .The price fluxuates and if it goes up ....you make a profit...as with other stocks,you just have no voting rights,what's the problem?

P.S....also a question, does it pay a dividend .....most don't but some have.

[mlmpetert]

Originally Posted by Giantone

Why? They tell you that is non voting common stock....many companies have this .The price fluxuates and if it goes up ....you make a profit...as with other stocks,you just have no voting rights,what's the problem?

This statement is a PERFECT example of why this is deceptive.

Its NOT a real stock:

It has ZERO value
It can never be sold or redemmed, only transferred to close realities if you die
It holds no value
There are no dividens or income payments attached to it of any kind
BUT you do get a "vote" (although who knows to what extent and for what matters)

The SEC should not allow this thing to be called a common stock.

[Giantone]

Ok, just saw you post #27 .....never heard of souvenir stock before

[Schneed10]

Originally Posted by Giantone

Ok, just saw you post #27 .....never heard of souvenir stock before

Which is exactly why this "common stock" sale is not cool at all. Nobody's ever heard of that, so when you call it "common stock" it brings an entirely different preconceived notion.

The very fact that SS titled this thread "Own the Packers" shows how badly misconstrued this "common stock" is.

It is NOT ownership in the team and I humbly suggest that the Warpath change the thread title so as not to contribute to the confusion around this. The SEC has strict regulations around investments for a reason - it protects people from getting swindled. At best, you could call this very confusing, at worst it's a bait and switch.

[SmootSmack]

Originally Posted by Schneed10

Which is exactly why this "common stock" sale is not cool at all. Nobody's ever heard of that, so when you call it "common stock" it brings an entirely different preconceived notion.

The very fact that SS titled this thread "Own the Packers" shows how badly misconstrued this "common stock" is.

It is NOT ownership in the team and I humbly suggest that the Warpath change the thread title so as not to contribute to the confusion around this. The SEC has strict regulations around investments for a reason - it protects people from getting swindled. At best, you could call this very confusing, at worst it's a bait and switch.

If you're implying that I was misled or trying to mislead in my thread title...no.

But whatever, I'll change the thread title

[Schneed10]

Originally Posted by SmootSmack

If you're implying that I was misled or trying to mislead in my thread title...no.

But whatever, I'll change the thread title

Not necessarily that you were misled, just that you misunderstood, by no fault of your own. Many people would misunderstand this, and it's not their fault, the Packers have made this extremely confusing.

I'd think accuracy of thread titles would be important to the mods. But what do I care.

[SmootSmack]

Originally Posted by Schneed10

Not necessarily that you were misled, just that you misunderstood, by no fault of your own. Many people would misunderstand this, and it's not their fault, the Packers have made this extremely confusing.

I'd think accuracy of thread titles would be important to the mods. But what do I care.

I knew exactly what it was. I didn't misunderstand what I might be buying at any time

I get that when it comes to anything related to financial matters, you're particularly sensitive so I apologize for my original headline. I only hope Mary Schapiro and Tim Geithner forgive me as well

[Paintrain]

Originally Posted by SmootSmack

If you're implying that I was misled or trying to mislead in my thread title...no.

But whatever, I'll change the thread title

Damn shame it had to come to that.