Wednesday, June 07, 2006

Asa and Halter Deals NOT Morally Equivilent

This Mark Minton article reports on the IPO that Asa Hutchinson is working on, Fortress America. It is one of those things where the founders sell themselves stock at pennies a share then do an IPO where the stock sells for dollars a share. In the case of Halter, the companies were grossly overvalued and as soon as the insiders, including Halter, "cashed out" the stock value collapsed leaving average investors- people like you and me- high and dry. Asa's company has not done that. Asa can't get the money out by law for two years. If Asa cashes out and then we discover that the company was mostly empty shell, I will be the among the first in line to say it was a dirty deal. Right now though, the stock is just as likely to hold its value or grow, making those investors money.


Add to it that the only compnay Halter helped direct that made money did so in part by hosting teen porn sites and out-of-country online gambling sites. Some may be tempted to say that Asa Hutchinson and Bill Halter have done the same thing. I'm not.

This is not to say I agree with all of his plans. His plan to expand access to "voluntary" Pre-K is a statist joke. What on earth is he talking about with "voluntary" pre-K? Does it mean that taxpayers get to VOLUNTEER on whether they want to pay taxes to pay for it? No you say, that part is not voluntary. I didn't think so. So when Asa uses the term "voluntary Pre-K" is he saying that pre-K is mandatory in other states? Are children rounded up at gunpoint in other pre-K programs? Or is the insertion of the word "voluntary" just a little sugar word to help a big-government idea go down a little smoother? Yeah, that is what I thought.

I am not a cheerleader, I just call them like I see them. Halter's business practices are sleazy and crooked, and his political positions are lefist. Hutchinson has been honest in his business dealings so far, and SOME of his political positions are leftist.

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