Wayne Allyn Root to Announce LP Candidacy

Eric Dondero’s Libertarian Political Report has the breaking news from Las Vegas:


Libertarian Political Report
by Eric Dondero

Wayne Root to announce for President tomorrow morning

As promised, readers of the Libertarian Political Report ARE ALWAYS THE FIRST TO KNOW, the major news concerning Libertarian Politics.

In an exclusive, LPR has confirmed that Wayne Allyn Root, the “King of Las Vegas” and top Sports Oddsmaker, will be formally announcing his candidacy for President as a Libertarian tomorrow morning. He has been confirmed for Fox’s local Las Vegas morning show. He will make his announcement on the show. Afterwards, he will be a guest on KABC in Los Angeles.

Details are still sketchy, but this may be followed by another press conference in Las Vegas to officially launch the campaign.

I’m personally glad to see Root announce. I will for-sure work to become a delegate to the national convention in hopes of nominating this man.

78 Responses to “Wayne Allyn Root to Announce LP Candidacy”

  1. Joey Dauben Says:

    So long, Kubby & Phillies. Those campaigns are dead in the water.

    Root will win the nomination. However, this all plays into what happens to Ron Paul.

  2. Trent Hill Says:

    Ew.

    Why do you think Root will win?
    He’s a republican basically…who has no real party support. If money was all it took, Jingozian would be the front-runner.

  3. Trent Hill Says:

    http://www.msnbc.msn.com/id/18436681

    Ron Paul won the debates…

  4. Tom Bryant Says:

    Wayne will drop out of the LP long before the convention.

  5. Tom Bryant Says:

    Errr…drop out of the race. He’s a life member, so he can’t really quit the LP =)

  6. Chris Says:

    Ron Paul won the debates…

    With over 50,000 votes in their poll, that Ron Paul is ahead is pretty impressive. Honestly, I didn’t think he stood out all that much other than being the ONLY person on the stage that disagreed with the Iraq war. However, in articles and on MSNBC they keep talking about him. Not as much buzz as Guiliani and Romney, but much more than any of the others.

  7. Trent Hill Says:

    http://democrats.org/a/2007/04/biography_ron_p.php

    LMAO. The Democrats show their intellectual prowess. Reagan ran in ‘88? wtf?

    Ron paul did VERY well in the debates, and the 15 Republicans I watched the debates with were ALL very excited about him. At least of few of them liked Romney until I showed them a video of Romney’s flip-flopping.

  8. Joey Dauben Says:

    Had Dr. Paul run as a Libertarian or Constitution Party nominee, he wouldn’t get so much as a tenth of a percent of this coverage.

    However, my first pick is Dr. Paul. If his campaign falters, it will be up to us to go with Root for the general election.

  9. SovereignMN Says:

    I think Paul’s final comment about respecting the privacy of Americans and not abusing habeas corpus made an impact.

    He represented himself well considering the little attention one can expect in a 90 minute debate with 10 people.

  10. Bill Wood Says:

    I think many people voted for Paul more than once on the online surveys. He also did well on the Drudge Report. He really wasn’t mentioned by the “Talking Heads” on the news this morning. However some friends watched and they weren’t impressed with Paul. They felt he lacked that charisma and “fire” that many Americans look for in their Candidate.

  11. SovereignMN Says:

    When I saw that Paul won the poll on WND I figured “well that’s a right-wing website” but when I saw he won on MSNBC that signaled that he has a very strong, committed grassroots support. Tancredo, Hunter, Brownback, Thompson, Gilmore and Huckabee do not have that type of support.

  12. Joey Dauben Says:

    Let’s shift back to Root here. He’s got more money probably than the 1980 LP slate.

    He has the potential to spread the LP message countrywide, in every state plus the territories. So who’s opposed?

  13. globalist_elitist Says:

    Ir Ron Paul ran as LP/CP, he’d get a lot more than 0.1% of the vote. What kind of bullshit statement ws that? He would obviously do a lot better than recent LP candidates and get at least 1%; possibly more like 5%.

    Ron Paul is 1000000% wrong about the Fed, economic growth, and immigration. He is very anti-growth; worse than any Democrat I’ve ever heard, and growth solves all problems.

    That said, I’m going to stop picking on Paul after last night’s debates.

  14. globalist_elitist Says:

    SNM: Are you on street drugs? Obviously liberals are voting for Paul due to his anti-war and pro-civil liberties stances. You think these things are appealing to 99% of conservatives? You’re really living in your own world. If Paul gets even 50% of the Democrats’ votes in these online polls, obviously he will win them. But those Democrats are not going to be voting in the GOP primary.

  15. SovereignMN Says:

    Of course these polls aren’t scientific. I’m sure are a few Democrat voters selecting Paul but I’m guessing most are Paul supporters who are repeating themselves. Read the msg board on MSNBC.COM and they are very pro-Paul postings. It might be the same people posting under multiple id’s but that’s my point…Paul has more grassroot support than most of the other candidates. You don’t see Tancredo’s people out there fanning the flames on the internet.

  16. Tom Gellhaus Says:

    Hey Eric, I thought Rudy Giuliani was your go-to Libertarian-in-disguise Republican. At least he was a few months ago…

  17. matt Says:

    Not even Dondero can maintain that level of cognitive dissonance for long.

  18. matt Says:

    “You don’t see Tancredo’s people out there fanning the flames on the internet.”

    Tancredo has people? Really? Are they voters or just an army of captured illegal immigrants that are forced to do his bidding?

  19. [email protected] Says:

    Quoth Joey Dauben:

    “Let’s shift back to Root here. He’s got more money probably than the 1980 LP slate.”

    Highly unlikely. The 1980 LP slate had a billionaire on the ticket who could afford to spend as much as he cared to. He cared to spend about $3.5 million in 1980 dollars. That’s about $9.3 million in 2006 dollars. I’m not saying that Root hasn’t managed to sock away $10 million from his scams, but I doubt if he has $10 million liquid that he’d be willing to throw into making an ass of himself in public.

    “He has the potential to spread the LP message countrywide, in every state plus the territories.”

    Why would he spread the LP message when he’s got a message of his own to spread?

    “So who’s opposed?”

    Lots of people are, or at least should be, opposed.

    First of all, the LP should not nominate a candidate who does not represent its positions on the key issues in the election which that candidate will be running in. Root is anti-LP on the war on Iraq, anti-LP on immigration, anti-LP on gay marriage. At least two of those three, and probably all three, will get big play in next year’s election. In addition, Root is anti-LP on who should be elected president (he endorsed a McCain-Lieberman ticket last November).

    Secondly, the LP should not nominate a candidate with a piss-poor public reputation. To the extent that Root’s name is recognized (which, fortunately for the LP, isn’t much), it’s as a telemarketing scammer who uses high-pressure tactics to hawk sports betting picks to the gullible.

    Eric Dondero likes to talk about the fact that Root is on TV a lot. What Dondero doesn’t mention is that Root’s TV presence is almost entirely composed of paid infomercials. He sets down on a channel, rakes in the dough until the suckers stop biting, then moves to another channel in search of new suckers. He started out on regional sports cable channels, then moved to WGN, then Spike, then apparently the Discovery Channel (!). 500 channels on TV, so I guess he can drag it out quite a ways, huh?

    He seems to have also translated his ... um, questionable … approach to business into the stock market. The “ask” price on his company’s stock was at 1 cent per share as of 04/30 … “ask” as in “you can ask, but no way in hell are you gonna get—try 8/10ths of one cent, and maybe we’ll talk, if I have some spare cash and really, really don’t care if I lose it.”

    A couple of links, one current, one from five years ago, on that continuing saga:

    http://investorshub.com/boards/board.asp?board_id=4126
    http://www.majorwager.com/forums/mess-hall/108759-wayne-roots-gwin-gets-i.html

    This guy is an opposition researcher’s wet dream—and any serious political party’s worst nightmare. I swear to God, they must have modeled the “Joe Isuzu” character on this guy. He’s like Bob Dobbs, if Dobbs was real and wasn’t funny.

  20. Jay Matthews Says:

    I agree Ron Paul’s numbers in the MSNBC poll are probably inflated but even if you cut his results by half for questions 1-3 he’s still among the top three and if you double his results for questions 4 and 5 (negative questions) he’s not in the top three.

  21. Trent Hill Says:

    “That said, I’m going to stop picking on Paul after last night’s debates.”

    GE….im impressed. Can I ask why? Is it because he’s the best Republican on stage?

  22. Eric Dondero Says:

    Quick responses. Can’t really respond in-depth. I’m up in the Northwest trying to help stop Democrat voter fraud. And will be for the coming weeks.

    Yes, I’m most certainly an enthusiastic Rudy Giuliani supporter. I’m very glad Wayne is running, and support him fully for the Libertarian nomination. But Rudy is my guy. (I like Mitt Romney too.)

    To Knapp: You seem to think TV media commercials is a negative. So what? He’s got infomercials all the time on ESPN. Dude, that’s not a negative, that’s a HUGE POSITIVE.

    And Wayne has some serious TV media outside the Infomercials. He was on Fox News three times last year!! He’s almost now a regular guest on KABC radio in Los Angeles. He’s also a regular on Fox TV in Las Vegas.

    On fundraising, Wayne will spend his own money for sure. Probably a few $$$ million. I’m sure that alone will surpass Ed Clark/David Koch 1980. But Wayne plans to get the bulk of his campaign funds from the Internet Gaming industry.

    I’d predict a $10 to $20 million campaign. That’s 5 times as much as the best funded LP Prez Campaign ever, in 1980.

    And if the GOP screws up and nominates a candidate with zero libertarian appeal, that could be even higher.

  23. Eric Dondero Says:

    Shameless Plug:

    Austin was nice enough to mention my Special Insider’s Libertarian Political Report. If any of you would like to subscribe for free please fill out the form at my website at www.mainstreamlibertarian.com.

  24. globalist_elitist Says:

    Root has more many than David Koch?

    hahahahahaahahahaha

    Wow. That was a dumb assumption.

    I don’t know how much Root claims to have. Let’s say $10 million.

    That’s a lot of money, but DAVID KOCH HAS $12 BILLION WITH A FUCKING B.

    For every $1 Root has (assuming he has $10 million), Koch has $1,200.

    Koch has $1 million TWELVE-THOUSAND TIMES OVER.

    My “guess” is that Root doesn’t.

  25. globalist_elitist Says:

    Trent - Yes. His Fed/IRS positions are impactical and undesirable. It makes me question his rationality. But when viewed in comparison to nine fascists, a little bit of insanity doesn’t seem so bad. He has a lot of courage to stand there and stand up for civil liberties, etc. And he made it clear to me that the majority of his conservative personal views would not be impose on me if he were elected.

    The real question is - How can anyone consider those other nine Republicans to be better for liberty than, say, Hillary Clinton? She makes them look like Harry Browne minus the fundraising scandals by comparison.

  26. globalist_elitist Says:

    “Root is Founder and Chairman of Winning Edge International Inc., which is publicly traded on NASDAQ under the ticker symbol WNED.” - Wikipedia (undoubtedly written by Dondero).

    Fact: WNED is not traded on the NASDAQ Global Select Market, Global Capital Market, OR Capital Market. It is traded “over-the-counter,” which essentially means it is a very low quality stock.

    Fact: The current share price is 1.2 cents. Root owns 15 million shares, which would put his equity in the company at about $180,000.

    Fact: The company has a market cap of $1.5 million. This is literally the lowest market cap I’ve ever seen that actually has a Yahoo! Finance page.

    Fact: WNED lost $1.2 million last year. In the past three years total, it has lost $4.9 million.

    Fact: The company has the worst balance sheet I’ve ever laid eyes upon. $832k in assets vs. $1.9 million in liabilities. NEGATIVE equity of $1.1 million.

    Fact: Revenues peaked at $6 million in 2004 and have never reached that level since. At the current burn rate, WNED will be OUT OF BUSINESS any day now. Only $832k in assets, most of which are illiquid, vs. $1million+ in losses each year.

    THE JIG IS UP, ROOT.

    http://finance.yahoo.com/q?s=WNED.OB

  27. matt Says:

    The spittle on Root’s index finger apparently has convinced him that the winds are right for him to hustle some libertarians. Hopefully he tires of it soon. I don’t think that Phillies is a great candidate, but his dedication is clear, and Root’s is clearly lacking.

  28. matt Says:

    I’m no expert on election law, but now I’m wondering; is it possible that W.A.R. intends to use this campaign as some sort of assets shelter? Might being in the middle of a presidential campaign help him retain assets from a company that’s going bankrupt? I don’t know the law and am merely thinking out loud.

  29. Trent Hill Says:

    Matt,

    Definetly possible. This guy is a swindler.

  30. timothy west Says:

    Errr…drop out of the race. He’s a life member, so he can’t really quit the LP =)

    even life members can quit. All they have to do is renounce the oath. Bingo, no more membership.

  31. Andy Says:

    “Joey Dauben Says:

    May 4th, 2007 at 3:59 pm
    Had Dr. Paul run as a Libertarian or Constitution Party nominee, he wouldn’t get so much as a tenth of a percent of this coverage.”

    Sad but true.

  32. Andy Says:

    “globalist_elitist Says:

    May 4th, 2007 at 11:44 pm
    Trent - Yes. His Fed/IRS positions are impactical and undesirable.”

    Ron’s Fed/IRS position is no different from any other Libertarian candidate that I’ve ever seen. Anyone who supports either of these things are not libertarians in my book. So by attacking Ron Paul for this you are basically attacking the entire Libertarian Party and all past candidates.

    “But when viewed in comparison to nine fascists, a little bit of insanity doesn’t seem so bad. He has a lot of courage to stand there and stand up for civil liberties, etc. And he made it clear to me that the majority of his conservative personal views would not be impose on me if he were elected.”

    This is something that people such as myself have been trying to explain to you for months.

  33. Andy Says:

    “globalist_elitist Says:

    May 4th, 2007 at 11:55 pm
    “Root is Founder and Chairman of Winning Edge International Inc., which is publicly traded on NASDAQ under the ticker symbol WNED.” - Wikipedia (undoubtedly written by Dondero).

    Fact: WNED is not traded on the NASDAQ Global Select Market, Global Capital Market, OR Capital Market. It is traded “over-the-counter,” which essentially means it is a very low quality stock.

    Fact: The current share price is 1.2 cents. Root owns 15 million shares, which would put his equity in the company at about $180,000.

    Fact: The company has a market cap of $1.5 million. This is literally the lowest market cap I’ve ever seen that actually has a Yahoo! Finance page.

    Fact: WNED lost $1.2 million last year. In the past three years total, it has lost $4.9 million.

    Fact: The company has the worst balance sheet I’ve ever laid eyes upon. $832k in assets vs. $1.9 million in liabilities. NEGATIVE equity of $1.1 million.

    Fact: Revenues peaked at $6 million in 2004 and have never reached that level since. At the current burn rate, WNED will be OUT OF BUSINESS any day now. Only $832k in assets, most of which are illiquid, vs. $1million+ in losses each year.

    THE JIG IS UP, ROOT.”

    BAAAAAAHAHAHAHAHAHAHA! It looks like Root’s business is not as great as Eric has been making it out to be.

  34. [email protected] Says:

    global_elitist,

    You write:

    “Fact: WNED is not traded on the NASDAQ Global Select Market, Global Capital Market, OR Capital Market. It is traded ‘over-the-counter,’ which essentially means it is a very low quality stock.”

    I’m not a stock type, so please clarify for me: Is it inaccurate or fraudulent to characterize an OTC stock as “traded on” an exchange? And could you point me at a citation on that?

  35. Eric Dondero Says:

    Now back to the subject at hand, we are now organizing a nationwide grassroots effort for Wayne Root for President. We invite all third party adherents to join, Constitution Party, Independents and LP, of course. We especially invite those in the Sports community.

    We are in need of State Coordinators at the moment. If you are interested please email me at [email protected]

  36. matt Says:

    “We especially invite those in the Sports community.”

    This is the United States, dude. We’re almost all “in the Sports community”! Back in the day, I played high school football, I still own several polo shirts and can drink copious amounts of domestic beer (if absolutely neccessary). Does this put me in the “Sports community”?

    Methinks that what W.A.R. is after is a lot of credulous sports-betting schmucks that might buy his picks in the the future. HaHaHaHa.

  37. Tom Gellhaus Says:

    With all due respect Eric, I don’t think Wayne (or Rudy, for that matter) is getting taken seriously as a LP candidate. I personally would have backed Doug Stanhope before this guy Root (I’ve done a bit of Goggle search on WAR).
    In the LP, I still support Steve Kubby as the best qualified.

    In the Republicans, to say that Rudy is even REMOTELY close to Ron Paul in libertarian credentials is laughable. Did you watch the debate ? Obviously not the same one I saw.

  38. globalist_elitist Says:

    Knapp- I tried posting some detailed info, but for some reason, the post isn’t displaying. I emailed Austin about it. Hopefully it will get fixed, because WAR’s business is truly laughable. I mean TRULY. Not just in a mocking sort of way, but in a truly hilarious sense.

    But yes, saying a stock is traded on Nasdaq when it is not is clearly fraudulent. I’ve only seen the comment on wikipedia, but if Root is saying this, he is lying and his is committing fraud. Being listed by Nasdaq implies a level of quality and adherence to standards that WNED does not meet. His stock is traded throught the NASD (National Association of Securities Dealers) which is not related in anyway to the Nasdaq anymore. Here is a link with info on the subject.

    http://www.investopedia.com/articles/02/032002.asp

  39. globalist_elitist Says:

    As stated earlier, there are three tiers to Nasdaq. When he says his stock is “traded on Nasdaq,” he is putting himself in the company of Microsoft and Intel, etc. But in reality WNED is not even close - not even close - to qualifying for a third-tier Nasdaq listing. In order for continual listing on the Nasdaq capital market, a company has to either have stockholder’s equity of at least $2.5 million (WNED has negative $1.1million) or a market value of at least $35 million (WNED’s is just $1.5 million). In either case, the minimum share price is $1—WNED’s is 1.2 cents.

  40. globalist_elitist Says:

    Stocks like this are normally scam operations. Just yesterday, only $462 worth of the stock was traded… That’s not a misprint, there was really just $462 worth of it traded And yet the stock moved by 7.69% (to the downside, of course). A spike in volume could easily double or triple the share price, and that’s probably one angle WAR has right now. Just peripheral mentioning of his campaign could probably send the stock up to $0.25 or $0.50 a share, which would make WAR millions. And believe me, it can happen. The Motley Fool (a stock website for those who don’t know) mentioned mamma dot com as one of the worst-performing stocks, and the sheer mention of it sent shares up 25% in one day. People heard about the stock and bought it because it was cheap (share price was $2 then). Mama is a thinly traded stock, like WNED… But Mama traded about $4 million worth of shares each day back then. FOUR MILLION DOLLARS. WNED traded $436 Friday. That’s how small it is.

  41. globalist_elitist Says:

    Value of shares traded on a daily basis
    Microsoft: $1.8 billion
    Sirius Radio: $120 million
    Mamma dot com (now): $10 million
    Bank of Lenawee (three-branch bank in my town): $17,000
    Wayne Root’s company: $436

    I need to stress. That’s $436; not an abbreviation for $436k or $436 million. FOUR HUNDRED, THIRTY-SIX DOLLARS.

    I’ve literally never seen anything so lame in my entire life.

    NOTE: Sorry I had to make this post in three separate messages. TPW was not allowing me to post it in one post (I don’t know why).

  42. Andy Says:

    “Tom Gellhaus Says:

    May 5th, 2007 at 11:56 am
    With all due respect Eric, I don’t think Wayne (or Rudy, for that matter) is getting taken seriously as a LP candidate. I personally would have backed Doug Stanhope before this guy Root (I’ve done a bit of Goggle search on WAR).”

    Yeah, same here. I checked out Doug Stanhope and I also checked out Wayne Root and I’d say that Stanhope was a heck of a lot better. Too bad he dropped out of the race.

    “In the Republicans, to say that Rudy is even REMOTELY close to Ron Paul in libertarian credentials is laughable. Did you watch the debate ? Obviously not the same one I saw.”

    Rudy Giuliani is not a libertarian by any stretch of the imagination.

  43. Andy Says:

    “globalist_elitist Says:

    May 5th, 2007 at 12:58 pm
    Stocks like this are normally scam operations. Just yesterday, only $462 worth of the stock was traded… That’s not a misprint, there was really just $462 worth of it traded And yet the stock moved by 7.69% (to the downside, of course). A spike in volume could easily double or triple the share price, and that’s probably one angle WAR has right now. Just peripheral mentioning of his campaign could probably send the stock up to $0.25 or $0.50 a share, which would make WAR millions. And believe me, it can happen. The Motley Fool (a stock website for those who don’t know) mentioned mamma dot com as one of the worst-performing stocks, and the sheer mention of it sent shares up 25% in one day. ”

    Maybe this is the real reason that Wayne Root is running. If his stock gets mentioned he could make a few bucks.

  44. globalist_elitist Says:

    He could make more than a few. If the stock can go up or down 8% based on $436 worth of trading, what would happen if just a half dozen or so people wanted to buy a few hundred bucks worth of shares each? Just on volume alone, I could see the stock going up tenfold, quite easily. Then Root really would be a millionaire Republican.

  45. Bill Wood Says:

    Wayne’s Campaign website is starting to come together. He already has some very interesting endorsements.

  46. globalist_elitist Says:

    Bill Wood, Dondero, and Joey Dauben - I would like your response to the stuff I’ve posted above, if you could be so kind.

  47. Trent Hill Says:

    Dont count on it GE.

  48. Bill Wood Says:

    G.E,

    I think you spent a lot of time telling us that WNED isn’t the best stock to purchase for our portfolios. A simple “WNED stock sucks, look at the ticker” probably would have saved you some time. It is interesting that Wned and Progames are merging, bringing some strong leadership to the Sports online betting world and on line gaming. One of these companies have 250,000 online customers. With the merger I still wouldn’t purchase the stock.

  49. Trent Hill Says:

    No,this was a far more effective way of telling us. If GE had said “WNED Stock sucks, look at the ticker” it would have implied maybe that Wayne Allyn Root was not a millionaire.
    Far from it though, he is actually a HUNDREDAIRE
    426 dollars? Its an absolute scam. You guys nominate him—you’d be in bed with the con-man.

  50. Thomas L. Knapp Says:

    Thanks for the info, global_elitist.

    I hadn’t thought of the effect Root’s campaign might have on his “penny stock.” That could be significant.

    What’s more important, I think, is the ratio of assets to debt … and whether or not the assets have been pledged to any particular credits as collateral for debt. There could very well be another layer to the scam … it would not be the first company to declare bankruptcy and screw its real creditors—while its CEO and perhaps a few friends walked off with all the company’s real assets free and clear, having pledged said assets to themselves in lieu of payment of “consulting fees” and such. I don’t know if the company’s SEC filings would detail this or not, but I’m planning to spend some time on Edgar researching it next week.

    Not that THAT scam has to be operant to burst the Root balloon, of course. He’s clearly a dirtbag on the basis of the already available evidence. But better to nuke him immediately than to let him get enough traction to embarrass the party before he slinks away.

  51. Bill Wood Says:

    I don’t think Wayne’s WNED is going to declare bankruptcy. They are in the process of merging with Progames which is a subsidary of MobilePro. Corp. which is reported to have revenues for last year of $100 Million. I pasted alittle information below.

    4/16/07 - MobilePro Corp. (OTC Bulletin Board: MOBL) announced today that the company’s board of directors has decided to explore potential strategic alternatives for the company in order to maximize shareholder value. The company also announced that it has recently received inquiries from potential strategic partners regarding parts of the company’s business.

    “Given the recent trend in our public valuation and the recent inquiries from potential strategic partners, it is my belief that we would best fulfill our fiduciary duty to our public stockholders by pursuing strategic alternatives for the parts of our business and/or the whole,” said Jay Wright, Chairman and CEO of MobilePro.

    “We will, therefore, actively pursue a process with the goal of maximizing the value of our assets, eliminating our debt and returning value to our equity holders. This process will supplement our efforts with BB&T Capital Markets with respect to our Kite Networks subsidiary and the pending merger of our ProGames subsidiary with Winning Edge International, Inc. (OTC Bulletin Board: WNED), both of which we have previously announced.”

    Keywords: otc bulletin board, mobilepro corp, received inquiries, fiduciary duty, equity holders, shareholder value, mobl, s board, board of directors, belief, assets, ceo, wireless broadband

    By Robert Hoskins

  52. matt Says:

    “I don’t think Wayne’s WNED is going to declare bankruptcy. They are in the process of merging with Progames which is a subsidary of MobilePro. Corp. which is reported to have revenues for last year of $100 Million. I pasted alittle information below.”

    When a company with $100 million in revenue per year and a company with a negative $1.1 million net worth tie up, it isn’t a merger, it’s an acquisition. If the latter company’s stock trades at $0.01.2 cents per share, it isn’t just any acquisition, it’s a fire sale, and possibly one that involves insider trading.

    Let’s call a spade a spade, and let’s call WAR yesterday’s news.

  53. sam i am Says:

    What’s WNED? Root’s company is GWIN.

  54. Thomas L. Knapp Says:

    Trent,

    The fact that Root’s stock in Winning Edge is only worth a few hundred dollars is not an indication that Root’s net worth is only a few hundred dollars. I have little doubt that he personally has possession of net assets worth in excess of one million dollars, and probably several million. I wouldn’t place any bets on the liquidity of those assets, or on their status with respect to whether or not they might be, or get, tied down as security against debts. but he can probably make a plausible claim to being a “millionaire.”

    The more imporant question is how he came by what wealth he has, and what that reveals about his attitudes.

    In a nutshell, when Wayne Root wakes up in the morning, he isn’t thinking about how he can deal with his customers to mutual benefit—he’s thinking about how he can snare more suckers and get their money into his pocket before they get a clue and run. He isn’t thinking about how he can build a successful continuing business enterprise—he’s thinking like a tick: “How much blood can I suck out of this thing before it collapses and I have to find a new victim?”

    When he looks at Libertarians and the LP, he sees a new host to drain and discard. If we let him, that is.

  55. globalist_elitist Says:

    sam i am - ‘gwin’ is not a valid ticker symbol. WNED is Root’s company.

    Bill - If WNED were truly going to be acquired, if it were truly going to be going through, then the stock price would not fluctuate by 8% on a given day. Once an acquisition is announced, the acquired company’s shares will trade near the acquistion price. The only thing that will make them deviate from that price will be (a) speculation that the deal isn’t going to go through; or (b) a change in the value of the offer.

    The acquirer in this case is offering a “$10 million ‘state value’ preferred stock dividend.” What this actually means, however is unclear.

    This whole deal is fishy.

    1) On March 7, it says that ProGames would own 80% of WNED’s shares at the closing.

    2) But then on April 16, ProGames says that the merger is “pending.” I thought it was going to be done as of the close six weeks ago?

    So has the merger gone through? Or hasn’t it? Did WNED’s shareholders - 89% of whom were not insiders - approve the deal? Where is the press release saying that they did? Why would they accepted payment in preferred stock with no real value from a company that doesn’t pay dividends anyway? Why weren’t more details released?

    It all adds up to one thign: SCAM.

  56. globalist_elitist Says:

    Tom - To be clear, WNED has a market value of $1.5 million. $436 (or was it $462; it doesn’t matter) was the value of the shares that traded on Friday. Root himself owns $180,000 worth of WNED stock. But he gets no salary from WNED. Where does he get his income? Does he have other sources?

  57. Bill Wood Says:

    Damn G.E, your a walking encyclopedia,LOL!

    The press releases about the merger are listed on the yahoo and goggle stock pages for those companies. I don’t really invest in “pennystocks” so I haven’t paid much attention. Most of the information basically states the Progames , a company that provides cell phone games(I think) and Winning Edge will be merging, according to the parent company MoblePro. Moblepro has 260,000 subcribers not counting their broad band business and they had revenue in 2006 of $100 million . They are also bringing on board several former gameing commissioners ,one from New Jersey.

    Now! What do you think about my favorite Candidate for President Karen Kwiatkowski?

  58. globalist_elitist Says:

    I like Karen Kwiatkowski.

    I like most of Root’s stances on the issues. Except the war. I don’t like his attitude, but I would be willing to accept that. I want a “millionaire libertarian” to be the candidate.

    But this merger doesn’t add up. I guess I’m going too far in alleging fraud, but it DOES NOT ADD UP. The March 7 press release says that the merger would be completed that day. Then six weeks later, a press release said it was still pending. How does something go from “going to be done today” to “still pending” six weeks later?

    OH SHIT! Maybe WNED is actually a front for LiberyMix?

    Seriously, though. There is a problem there, and someone needs to explain it.

    ProGames was supposed to buy 80% of the shares, and yet Yahoo! says that only 11% of shares are “closely held.” Shares owned by another corporation would be “closely held.”

    And the “$10 million stated value preferred stock dividend” is not explained. They throw that sentence out there like finance geeks are supposed to know what it means. It means nothing without further explanation. You might be able to fool Dondero with that giberish, but not me.

    Also, who started the rumor that WNED was traded on Nasdaq? Is this only on wikipedia?

    Root takes no salary from WNED. Where does he get his money? I’m not allegeing fraud; the answer might be simple. But from what I’ve heard about Root, his money should be coming from WNED.

  59. globalist_elitist Says:

    Let me take back my fraud allegations and apologize to Root if I am wrong. I need to take off my g_e hat and put on my professional one. It’s a derby.

    There could be a good explanation for all of this. Yahoo!’s data for such a thinly traded stock could potentially be incomplete or even inaccurate. I don’t think that case is likely, but it is possible.

    Someone from the Root campaign needs to answer these charges though. It’s not like we’re the only ones who are going to “dig up” this information on Yahoo! during the course of his campaign.

  60. Mike Bronson Says:

    http://millionairerepublican.com/home/listen.php - I’m 10 minutes in so far and I think he’s pretty alright. Seems to be inside the Libertarian quadrant. I love how he quotes the man (Barry Goldwater) and bashes Bush.

  61. [email protected] Says:

    global_elitist:

    The fact that Root takes no salary from WNED for his work as CEO doesn’t mean that he takes no money from WNED. If I had to guess, I’d guess that it works something like this:

    1) WNED owns the physical assets which are used to market the betting picks of Root and other associated handicappers—the infomercial production equipment, the office equipment, the telemarketing “boiler-room,” etc. It probably also hires/fires/pays the employees of these operations.

    2) Root provides the picks, and the “pizzazz”—the on-camera presence, the telemarketing scripts, etc.

    3) WNED then pays out either a flat fee or a percentage commission on the revenues produced to Root as a contractor or vendor, independent of any compensation he might receive as CEO.

    Nothing fraudulent about that scenario, per se.

    Regards,
    Tom Knapp

  62. globalist_elitist Says:

    Knapp - The scenario you described makes sense for a private company. But I’m pretty sure corporate officers need to divulge all forms of compensation. Imagine the CEO of Home Depot trying to pull that same scheme. It is unethical, and I’m pretty sure it’s illegal too.

  63. Chuck Says:

    Mike, I listened to most of it. Root seems to be in somewhat libertarian territory - there are areas where he and I differ (he just supports civil unions) but I guess it’ll take the national convention to see if he is the man for the job…

    I liked Stanhope a lot but now that he’s gone…I’m undecided on who I am supporting.

  64. [email protected] Says:

    Business as unusual

    And now, for those of you wondering what my resignation is all about, three words: Wayne Allyn Root. In particular, my public comments on him and his candidacy, starting with this one and this one.

  65. globalist_elitist Says:

    That’s B.S.

    I was a hesitant pseudo-supporter of Kubby, but no more. I was going to support his campaign (financially and with my vote) if the Democratic nominee was someone other than my top two choices. Not now.

  66. [email protected] Says:

    global_elitist,

    I’m sorry to hear that, and I hope you’ll reconsider. Kubby did EXACTLY the right thing, and I concur 110% with his decision.

    Regards,
    Tom Knapp

  67. matt Says:

    I don’t blame Tom Knapp for wanting to expose WAR’s crap, and I don’t blame Kubby for not wanting his staff to go negative (within the party) at this point.

    Kubby doesn’t stop being the best guy in the LP race because of this…

  68. Trent Hill Says:

    Knapp,

    I kew what the 426$ represented. Im sure his networth is quite high…but it smells.

    As for your “resignation”. I call bullshit. And Bullshit a second time.

  69. globalist_elitist Says:

    WNED down another 17% today.

  70. globalist_elitist Says:

    Oh, and guess how many shares traded? 6,000. At $0.01 each.

    That’s sixty dollars worth of stock, people. Two shares worth of Microsoft.

  71. [email protected] Says:

    Trent,

    I’m not quite sure what you think you’re calling bullshit on.

    Steve requested, and received, my resignation as campaign manager on the advice of one of his most trusted advisors: me.

    That advice was not given, or taken, in the tone of “well, if you don’t like what I’m doing, I can leave.” It was given in the tone of “the best thing for the campaign is that I no longer manage it. I wasn’t qualified for the job in the first place; the only reason I accepted it is because you felt like you needed someone in that slot until you find someone who was qualified, and because you trusted me to be honest in the position. So, I’m going to be honest in the position—having me in the position is a detriment to the campaign and you should either fire me or allow me to quit.” He declined to fire me, but he finally accepted my resignation. This was not, by the way, the first time I had tendered that resignation. It’s just the first time he accepted it, and I’m glad he did.

    Anyone who knows me knows that if I hadn’t thought I should resign, I wouldn’t have—I’d have made him fire me if he wanted me gone. And anyone who knows me knows that if I thought I was getting screwed, I’d say so.

    I have not left the campaign. I’ve just resigned from a particular position in the campaign—a position which lent itself to maximum erroneous conflation of my opinions with the opinions of the candidate. As campaign manager, every time I came out gunning for some freakshow mook like Wayne Allyn Root, Kubby was going to take a hit for “going negative,” even though I was not speaking for him in any way, shape, manner or form.

    I support Kubby more strongly now than I did when I woke up this morning, and I hope that others will as well. It is in the interest of the Libertarian Party and the libertarian movement that he run the best campaign possible. His acceptance of my resignation proves to me that he’s willing to do that even when it requires making hard choices in the context of personal friendship.

  72. Trent Hill Says:

    No,its bullshit that this was caused by THIS topic. This isn’t really as “negative” as it is “True”.

    [email protected], don’t get me wrong. I don’t exactly consider us political allies—but I do consider you a true fighter for liberty. I DONT consider W.A.R. that. He is a scam artist, and you should be outed (or out yourself) over a shitty topic like that.

    don’t get me wrong. I know the whole “Im TOTALLY not qualified for this position” thing, i’m state contact of Louisiana for the CP…and im trying to drop that responsibility as soon as possible. Im too outspoken, too libertarian-leaning, too young, too busy. So I get that, but the fact that W.A.R. scams were the catalyst for this pisses me off.

  73. [email protected] Says:

    Trent,

    Thank you for the compliments. Really. They mean a lot.

    But, like I said, Kubby did exactly the right thing.

    To the extent that a campaign is going to be about someone, that someone should be the candidate, not the candidate’s opponents.

    To the extent that a campaign is going to be about something, that thing should the candidate’s plans and proposals, not the quality (or lack thereof) of his opponents.

    I’ve got a big mouth, and I’m not going to shut it. I’m going to say what I think, and I’m going to share why I think it, including about other candidates and their quality (or lack thereof). If I’m Kubby’s campaign manager, it’s inevitable that when I do so, my statements will be regarded as coming from the Kubby campaign, rather than just from me … QED, I shouldn’t be Kubby’s campaign manager.

  74. Joey Dauben Says:

    See, if not for me subscribing to Dondero’s Libertarian Political Report, you guys wouldn’t be driving the comments up in the 70s.

    You’re all very welcome :)

  75. globalist_elitist Says:

    Thanks, Joey. Your reporting is top notch.

    But can you address the fact that W.A.R.’s business appears to be a big fraud?

    SIXTY DOLLARS worth of stock traded today. Sixty.

  76. Eric Dondero Says:

    Listees, sorry for not being able to reply to your posts here. I am on a “special assignment” in the Great Northwest trying to help stop Voter fraud by the Democrats.

    And boy is it massive. I could have never imagined how corupt the Democrat Party was. But now I know. They purposely steal elections from the Republicans, and brag about it.

    I shit you not. I had one Democrat tell me to my face today that he was “all in favor of coruption in politics so long as it benefited Democrat candidates.”

    I’ve become more convinced than ever that the Democrat Party is simply the Evil Party.

    We all need to unite to defeat the Democrats: Constitution Party, Libertarian Party, Republican Party, whatever.

    Democrats are truly, truly evil.

  77. globalist_elitist Says:

    Um, no.

  78. Devious David Says:

    Dondero-Rittberg, go get some help man. Go get some help.

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