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Author: surfpnk One star, 50 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2611  
Subject: Fire sale! Date: 5/1/2003 1:12 PM
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Wade Cook Financial sells off assets

Each time the auctioneer barked "Sold!" it was another nail in the coffin of Wade Cook Financial.

Yesterday, the long-ailing stock-market-seminar company in Tukwila auctioned off most of the contents of its spacious offices. The doors are closed. The building is for sale. For a company that repeatedly has said it would never fall, whose fierce loyalists maintained their belief in stock-market guru Wade Cook, it was a rough day.


~snip~

Somehow, this next part is not too surprising.


Those least likely to be paid are the 50,000 customers owed a refund by order of the Federal Trade Commission. Under a court settlement, Cook is supposed to pay if his company cannot. The refunds total millions of dollars, and it is unclear whether Cook will pay.


Sad, very sad. Of course, I'm sure Wade isn't losing any sleep over his customers, and I'm sure he's dreaming about his new health juice company. I'm glad I'm on his mailing list somewhere (if he can get it out of the hands of the BK trustee); I'm looking forward to getting an e-mail pimping the new miracle product which I'm sure will be attached to an "opportunity" of some sort.

Good luck Wade!

Cheers!
Michael
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