All Forum Posts by: Rob Martin

That's the understatement of the year! :violin:

James, Thank you for your clear-headed advice, and for getting involved in this case. Some of us have been stretched out and waiting for any news for quite a long time. Do you have any guess as to what our final settlement might actually be? :beer:

Has anyone invested with, or heard anything about, the Residential Capital Mortgage Income Fund, based in San Diego? They are offering a 10 - 12% return on a min $50,000. Any feedback would be welcome!

Has anyone invested with, or heard anything about, the Residential Capital Mortgage Income Fund, based in San Diego? They are offering a 10 - 12% return on a min $50,000. Any feedback would be welcome!

Hold on a minute here. Nobody said anything about not being patient, of course we do. I'm not saying anything about any legal recourse against Newsweek, of course there isn't.
All I'm saying is this: there was some kind of twisted dumb naive reasoning that occured in my simplistic over-worked and strained brain when I decided to buy Newsweek over the National Enquirer at the checkout stand in July, 2006.
That naive reasoning was a direct result of Newsweek's very successful and most likely very expensive and efficient marketing strategy that sent a message to my poor little brain saying, "you can trust us. We are Newsweek after all"

I did, and got burned.
Will I buy Newsweek again?
I don't know. I'm not sure yet.
I want to see how they react as the true story of this awful fiasco unfolds.
Personally I'm kinda interested to see their take on all of this.
Pretty simple really.
Are they really the great trusted publication I thought they were?

What else can I do while I'm waiting to see if my life savings are gone forever?

I agree about consulting with Hays on this issue. It's not that Newsweek has any legal obligation here, but I would hope that they would accept some professional responsibility as a magazine of repute to letting this fly-by-night get-rich-quick scheme take out a full page glossy in their rag without somehow being vetted first. I get plenty of junk mail from scheming crooks everyday, all of which goes immediately into the recycling bin. I thought I could trust someone that Newsweek let advertise in their hallowed pages, simply because I trusted Newsweek (for some strange, naive reason). Hopefully, they want to keep their reputation and our trust. If they do the right thing I'll certainly tell all my friends that at least one American institution hasn't completely sold out yet.
GL Gal, let us know what Hays' take on this is? :pup:

I haven't been following this for awhile because it seems that so far Mr. Hays is doing a great job, but I was interested in Grreat Lakes Gal's comments about Newsweek's involvement in all of this. I expressed similar sentiments here a few weeks ago. Okay, yeah, they probably don't have a legal obligation to do anything - lawyers just chill out a little bit here. Just take a deep breath - we're not talking about the law, we're talking about integrity, trust, decency, doing the right thing. Something that probably doesn't compute in most lawyers' brains. What about the public's perception of Newsweek as a company of supposed repute? I, for one, trusted Pinnacle simply because they were allowed to advertise in Newsweek. That says a lot for my simple trust and loyalty in that rag. If you can't trust Newsweek, who can you trust? The question is, are they going to try to keep my trust and do something honorable now, or are they just going to take their money from whatever is left of Pinnacle and then go ahead and take the next jackass ad that comes their way? Who is going to have trust in them anymore? Not me. In fact I'll probably cancel my subscription. Trouble is, where do I go, Time? Are they going to model their integrity as an American institution that finally took a stand against the leeches of society that would happily take all our money and run, or are they going to stand, hold out their hand and take money from an obvious scam-artist like O'niell?
I'm with you, GL Gal! Thanks for taking a stand for decency. God only knows this country needs it now! :superman:

California, I didn't know that about Barry Minkow. Thanks for being so viligant, Barry, you saved us a lot of money and more pain.
Imagine if this scheme had gone on a few more months or years...
:violin:

Mr. Hays, Thank you for your prompt and thorough report. A welcome relief from most of the crap I've been reading here recently. :badwords:

One of the reasons I trusted Pinnacle was because they were allowed to run a full page ad in Newsweek Magazine (and also were sanctioned by the Better Business Bureau). I thought Newsweek always vetted their advertisers?

Maybe Newsweek would be interested in making up for this oversight by contributing the huge profits they must have made from Pinnacle's glossy ads back to us poor investors?