Sunday Morning Roundup: Penny Stock Scams and Car Dealer Thugs

Two articles this past week got me spitting mad. One dealt why scumbag stock promoters, and they other one with car dealership thugs.

First, the stock promoters. The Motley Fool’s Managing Editor Brian Richards wrote an excellent article on stock promoters–The Desperate, Deceptive Measures Penny Stock Scammers Use to Dupe Investors. This is a must-read for anybody thinking about “investing” in penny stocks. It’s also an excellent example of investigative reporting.

Second, car dealership thugs. Peter Valdes-Dapena reported on CNN Money that traditional car dealers are taking offense to Tesla’s way of doing business. Tesla sells its electric cars directly to consumers through company-owned stores. Apparently some car dealers want a piece of the pie, and are asking state governments to prevent Tesla from selling its cars, even online.

“Today, Tesla can’t sell cars in Texas. Tesla has showrooms there, but employees can only show off and explain the car. They can’t give test drives or take orders. They can’t mention the price at all, even if customers ask.” Are you kidding me? did the Chinese government take over the Lone Star state? What happened to good ‘ole competition?

More Good Reads

Last week’s Carnival of Personal Finance #410 — Summer Plans Edition was hosted by Martin over at Studenomics. Our article on 25 Tips and Resources for New Grads on LinkedIn was included in the carnival. Thanks, Martin!

I’ve been a big fan of 37signals for a long time, and use its Highrise product to manage contacts. This past week 37signals sent out an email newsletter with a number of great articles. One was from a blog I’d never heard of called Farnam Street and the article, written by Shane Parrish, is called The Buffett Formula — How To Get Smarter. It is a great read, as is the Farnam Street blog.

This past week I came across The Billfold, a blog about money, kinda. They have an interview series in which The Billfold’s Logan Sachon interviews “rich” people. One such interview that caught my eye was, I Made $570K Last Year, But I Don’t Feel Rich (In Fact, I Feel Worried).

Investor Junkie published 9 Investment Advantages of Building Your Own Business. Having run my online business since 2007, I can attest to the many advantages listed in this article.

Because I’m stilling handling my step-mother’s estate, What Happens to Your Debt When You Die? hit pretty close to home.

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