Trader Monthly Leaves Behind More People They Screwed Over:
Posted by Timothy Sykes on Sat 21st of Feb, 2009 09:45:11 AM
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I’ve already reported repeatedly on all the crap that Doubledown Media/Trader Monthly was up to that led to their shutting down, but sources who have been screwed over by the company keep contacting me with their take so I feel obliged to repost:
Tim, I specifically remember the direct and moronic shit talking Randall was doing last year…and it’s slowly starting to bite him back, regardless of how much spin control he continues to do.
As you may know, he was keeping his staff on edge by constantly threatening lower pay…well he did that (although this is not news to you) and cut corners in that regard by constantly lowering pay scales and shedding excess. However, it wasn’t until I spoke with a few guys who have gone separate ways with Randall- and for good reason- that I realized what exactly he was doing.
As Lane realized his business was so spectacularly flawed and terminally destined in mid 2008, he also realized that he was probably not going to win the suit against TPC (as the result of fabricated evidence)…and had he actually lost, he would have lost BIG..
He didn’t have the money to settle out of court..and subsequently called TPC’s bluff on settlement. So, he started cutting even more corners by offering his staff EQUITY in the company itself; which they quickly refused..so he was forced to cut pay and offer the AD reps commissions until it failed.
There are many on various (HILARIOUS, I must add) blogs defending Lane …..BULLSHIT..this guy was getting on a zodiac when he was handing his staff an empty treasure chest on a sinking ship….And when he realized it was him on the plank…well he was forced to walk.
Most (including CNBC) are fairly convinced it just dried up for DD…if these allegations are true (they came from a first hand source) Randall has some explaining to do other than why he hates you so much..
Fabricated evidence, trying to sell equity in a sinking ship, who knows and who cares if any of this stuff is true…considering I’ve gotten about a dozen similar sob stories, all we know for certain is that Randall Lane has more than a few enemies. And his lack of complaining about ANYTHING I write–seriously, I’ve never been contacted by anyone about ANY of the blog posts I’ve ever written, and you guys know I rip into some people/companies…(well, actually Agora/Stansberry & Associates just whined about my ripping on their ARNA pick…they told subscribers it could make them rich…just like Cramer tells his saps they can get rich watching TV…just 2 great examples of the kind of BS out there)–leads me to believe these allegations are true.
But I’m no judge nor jury, I repost/blog/inform only to show you what kind of shady stuff tiny companies are into..take it as you will.
The one thing all these stories/rumors lead me to believe Doubledown didn’t just close down due to a lack of demand–as they’d like to have you believe–it’s because they were seriously mismanaged by Randy Boy. As I reported last summer, nearly 8 months before their eventual demise, they were already near broke and that was when the market was good!
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TIM Trades
View All| Date | Stock | Buy | Sell | Net |
|---|---|---|---|---|
| Nov 19 | AENY | $2.80 | $3.02 | $1148 |
| Nov 18 | NLST | $4.16 | $4.40 | $947 |
| Nov 18 | IMGG | $1.42 | $1.64 | $2094 |
| Nov 17 | NLST | $5.04 | $5.59 | $2195 |
| Nov 13 | VRMLQ | $21.50 | $22.97 | $2901 |
| Nov 11 | EONC | $2.61 | $2.80 | $687 |
| Nov 10 | EONC | $2.74 | $3.36 | $9784 |
| Nov 6 | QXM | $4.31 | $4.80 | $1936 |
| Nov 4 | COT | $8.66 | $8.88 | $642 |
| Nov 4 | QXM | $4.61 | $4.89 | $822 |
| Oct 30 | DDRX | $25.70 | $26.53 | $812 |
| Oct 29 | CTDC | $4.00 | $4.42 | $781 |
| Oct 26 | AWSL | $3.24 | $4.10 | $2516 |
| Oct 23 | RODM | $5.27 | $5.23 | $301 |
| Oct 22 | AMLM | $2.69 | $2.97 | $820 |
| Oct 22 | USEG | $6.12 | $6.09 | $85 |
| Oct 20 | CBOU | $8.93 | $9.06 | $243 |
| Oct 16 | VRMLQ | $16.79 | $18.65 | $2773 |
| Oct 13 | YONG | $11.05 | $11.66 | $1202 |
| Oct 13 | NPHC | $0.59 | $0.71 | $583 |
| Oct 12 | IMGG | $0.60 | $0.70 | $682 |
| Oct 9 | ZAGG | $5.50 | $6.10 | $2380 |
| Oct 7 | GVBP | $0.03 | $0.27 | $702 |
| Oct 1 | NPHC | $0.70 | $0.85 | $1482 |
Total: $98,094 (681%)
