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meaning that the company was in business for 18 years. Unfortunately, the previous
Knowledge editors have only let stay up the only two years of the company's existence, or 1970 and 1971. That is very unfair as that is the two years when White and Case and Lord Bissel and Brooke made the decision to allow the merger of Interstate Insurance, Arthur Frommer $ 5 a day and two other companies to go ahead without resubmitting the new information to the shareholders. There was a book written about the decision, and it became a legal case that was studied by law students. Unfortunately, I was in the middle of it. The other 16 years the company ran its business very successfully. NSMC was started by myself with $ 700 in cash in 1963 by printing a Guide to Summer Employment which was successful. We added more products and the profits grew from $ 70K to $ $ 250K to $ 1.7 million, to $ 3.4 million and got up to 2000 employees. During that time we added more companies. Then came some loss quarters but then it became very profitable again and that is why Firemen’s bought it for $ 54 million. Either all mentions of NSMC should stay up, or all of them should be deleted. Since some editors want to put up what happened to NSMC in the early seventies, and I have four very legitimate sources on what happened before and since then, I am putting them back up. If anyone wants to question those four articles from Forbes and tree others, concerning NSMC, I would be happy to copy and send them to anyone who requests them, at my expense. as I have the original articles in my scrapbook. The only reason for the difference from my $ 76 million and the $ 54 million is that there were 12 other divisions besides Interstate Insurance that were also sold. Lastly, since it is a untrue statement that that that NSMC went “into financial collapse” in the heading, I have removed those three words as I know Knowledge wants to be truthful. Thank you for trying to be fair and balanced in my Knowledge article.
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companies to make new law. The first was the Texas Gulf
Sulphur case, and the next was NSMC case. The new law that was made at the TGS case was that it became a crime to buy shares on good news before the public announcement was made. From The Duke Law Journal page 1253 "The National Student Marketing case was not a matter of chance. According to public statements of various commissioners, the action was deliberately brought by the SEC to enlarge the responsibilities of securities lawyers."
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nine years. On “Taking the Stand”, those were the transcripts of the Oliver North Iran Contra hearings which I had to transcribe anyway. I got a call from Simon and
Shuster to put them in to a book form, I signed the contract, and for three weeks it was a best seller. 2. Unfortunately, I got a lot of suits from NSMC, but I won them all and never had to pay any judgments
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business. but the notoriety that attached to you from your time NSMC is from the bad stuff you did, not from the failure per se. surely you can see that.) at this point i don't know what i would say you are best known for today; i have to do yet more research for that. so i stubified the lead. but please stop editing the article directly. thanks.
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840:. Not exactly true. I sued NSMC in Small Claims Court in Manhattan in the late 1960s and won a judgment for $ 50 for unpaid commission, which they paid. (Of course Cortes may refer only to suits against him personally. On the other hand he knew about this lawsuit since he complained publicly about it.)
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1. I did publish those books three books. In the beginning pages of the “National Press Club
Contemporary Speakers” is my picture and a statement that I did publish that book. On the Guide to Summer Employment, that is the book that wrote , printed and sold which started NSMC and we published it for
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For that reason, I would appreciate it if you would please include the amount of the company was sold for and at least or two of the references as to what the company was about. For instance the first one from the OTC Chronicle which describes what we did that was different, and the
Investor Dealer
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which means that we give weight, to what reliable sources give weight to. The truth is that you did some bad stuff back then and went to jail for it, right? and the article cannot hide from that. (it is true that an entrepreneur's life is a roller coaster and failure per se is nothing shameful in
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I tried to find out where the information came from that NSMC went bankrupt, and looked at the references on my
Knowledge article and I could not find any references to it going bankrupt. I fact, according the Piped Piper article NSM got up to $ 68 million in sales in 1968 (which was truthful) and
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Looking up Cortes
Randell in the Library of Congress catalog, there are 8 hits for a Cortes Randell, such as "Producing and merchandising sausage in small plants."(1954). They are all about meat processing. Searching Amazon provides some hits, but they're to text in books such as "The Go-Go Years:
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The only reason for the extensive publicity or “notoriety” is that case affected every attorney in the nation on what were the limits of the attorney client privilege. I am grateful for your finding the case that you did, Which shows that
Stanley Sporkin, the SEC Commissioner at the time targeted
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The stock splint for two one, so it was not a screaming dive. But more important even though you are expert on
Knowledge, and I am a beginning neophyte, one of the rules for Knowledge is that if there is some IMPORTANT information to add then it needs to be shown be shown, otherwise the it is an
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In my current article, Knowledge uses a reference from a book, “Called to
Account: Fourteen Financial Frauds that Shaped the American Accounting Profession”. Chapter 7, Clikeman, Paul M. I believe it would fair to include a reference to the book, "Under Investigation", by Les Hendersen reference
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2.The Assistant Attorney General for the State Of Florida stated, " After an extensive forensic review of the company as well as every complaint /affidavit filed with this office we were unable to find any substantial violation of Florida law therefore it is recommended that this investigation be
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Having said that, in the other 15 years, we started a company with $ 700 and grew it over the years to a company that had sales of $ 68 million, and it was sold for $ 76 million, or $ 54 million, whichever you one you want to choose. I provided well-paying jobs for thousands of employees for 18
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Thanks so much, Jytdog for your kindness doing the research that you did. The ability to be prolific in research is a gift, and I never was given that gift. With the dates and the amounts confirmed, we can show that National Marketing was started in 1963 and the last division was sold in 1981,
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I apologize, but I didn't answer your last question. I thought anyone could put up something that was truthful and well referenced as long it was explained on the Talk Page. From your last entries, I realize that was a mistake. Thank you for your help on
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One of the edit comments claims that "(There are some lies that need correcting Such as the fact that I was sued and had to pay $ 35 million. I never has a judgment for any amount of money from National Student Marketing)" He was definitely sued. See
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There were two other items that would make the article much more truthful. As you suggested, I will post those items on the Talk Page as I feel they should be included in the text of the article. Please review them and insert if possible.
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well egg on my face. so the content he added with that source was "but the stock regained its value and was sold for $ 76 million.(ref)Edgars SEC Filings(/ref) so i guess it the same to Fireman's...So the NYT has a blurb on that
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OK, not bankruptcy. I put in "led into financial collapse" instead, and cited the New York Times article "ARCHIVES OF BUSINESS: A ROGUES GALLERY; Cortes Randell: Student Market Hoax", which covers the stock's screaming dive.
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Mildred Lipsig, et al. v. National Student Marketing Corporation, et al.louis W. Biegler and Biegler Foundation, Appellants, v. Pomerantz, Haudek, Levy & Block, a Partnership, et al.(three Cases). Louis Garber, et al. v.
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it says that you should not directly edit the article, and instead should put proposed content here on the Talk page for other editors to review and implement if it is well-sourced and neutral. Why are you not doing this?
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1. National Student Marketing Corporation never went bankrupt. After the three loss quarters in 1970 it went on to make to make $ 10 million annually. Firemen’s insurance Company bought NMSC for $ 76 million in 1974.
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As stated above,NSMC never went bankrupt. Instead it grew in sales and earnings until it was sold to Travelers Insurance in 1974. So I removed the last two words in the heading "into bankruptcy" which was totally
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from the Chicago Trib says that NSMC sold its insurance business to Fireman's for $ 54M and notes that the sale "will allow it to complete the liquidation program approved by shareholders in September."
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which in the first page quotes the reference I used above, which says that "We were unable to find any substantial violation of Florida law therefore it is recommended that this investigation be closed"
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Jytdog, your concern is well founded. White and Case, Lord Bissel and Brook, KMPG, Cort Randell and others made some bad mistakes in the early seventies, for which we all paid big price, in many ways.
863:'s inability to control himself and refrain from editing the article, I'm seeking to have this page protected for the next three months, to force discussion and consensus prior to edits being made.
449:. We do have a published source for the $ 35 million money judgement, but I'm going to take that out pending a cite to a specific case. (National Student Marketing generated "extensive litigation"
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I'm in agreement with keeping the two pages separate. There is enough material out there on both the company as well as Randell himself that can be incorporated into these individual articles. --
744:: "* National Student Marketing Corporation completed the sale, for $ 54 million in cash, of its interstate insurance group to an affiliate of Fireman's Fund Insurance Company." (not $ 76M...)
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years, even during the troubled times. Which meant that along with some big mistakes in the early seventies, we also made thousands of VERY GOOD decisions during that 18 year period.
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Thank you again for your help, as I know that you are a volunteer, and I am learning that this is very time consuming. My wife of 46 years and my family are very grateful.
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I don’t feel that is puffery, those are just the cold hard facts which Knowledge is all about, as I best I can understand it. As I have indicated, I am just a neophyte.
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that is a fake reference. please provide an actual link to the filing at edgar that you want to cite. i assume you know how to find edgar but if not it is
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31:) policy, even if it is not a biography, because it contains material about living persons. Contentious material about living persons that is unsourced or
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He's in the Bureau of Prisons database for one of his convictions: CORTES W RANDELL Register Number: 11292-083. Age: 79. Released On: 08/24/1984.
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I rolled the article all the way back to before all the anon edits. Now I'm trying to find out what, of the anon-added info, should go back in.
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Orlandosouth, thanks for writing on a talk page, at last. To be clear, you are claiming to be the subject of this article. Is that correct?
366:. It's listed as "The complete transcripts of his testimony before the select committee of the House and Senate.", with an introduction by
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775:- basically if you are an attorney and you know your client is lying during the close of a deal and you say nothing.. you are in trouble.
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Again, thank you for your excellent research on this case. As I know that you are a volunteer, and doing research is very time consuming.
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Thank you so much for your kind edits, it definitely helps to balance the article, and make it more truthful to what actually happened.
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Knowledge says that if there is very important additional information, it should be included. Both books are on Amazon.
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is full of unsourced stuff and puffery. This is why we do not want editors with a COI directly editing the article.
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It won't be in the SEC's EDGAR system. Their online data only goes back to 1984, and these are events from the 1970s.
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Thanks you again for your help as I am obviously a neophyte, and I appreciate any suggestions that you can give me.
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unbalanced article. Therefore, in accordance with Knowledge's rules I added the disposition of the Stock.,
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P.S. In reading what is already on the TALK page there are two issues that I feel need to be clarified:
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the went on to go up to $ 76 million sales in 1974 when it was sold to Fireman's Insurance company.
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The subject of the article appears to have edited the article. Knowledge does not allow that, per
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I got a lot of suits from NSMC, but I won them all and never had to pay any judgments
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by the way some serious law about attorneys was made in cases relating to NSMC. see
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First I will quote them, then I will give you the explanation for their importance.
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from the NYT in 1982 talks about the final resolution of things, I believe.
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Yes, Jytdog, that is correct. I finally found out to use the Talk page.
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Subject: Balancing my Knowledge listing with some truthful entries.
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Oppose the merge from the company--it is notable in its own right.
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The Drama and Crashing Finale of Wall Street's Bullish 60s"
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