A Word To The Wise

Monday, December 24, 2012

So now Jack Brown is accused of stealing $12 million through a Ponzi scheme that involved a lot of his fellow church members. As a financial advisor I would advise everyone to be careful of any investment schemes offered by a member of one's church. Many Ponzi schemes are centered in a religious organization by crooks and shysters who prey on their fellow church members.

Two of the biggest frauds in recent memory were perpetrated by Bernie Madoff in New York and Robert McLean in Murfreesboro . Both offered unrealistic returns to members of their religion who because of their trust in a fellow church member did not perform their due diligence. Remember when any one offers you an investment opportunity:

1. If it is too good to be true it is probably a fraud

2. No matter how good an opportunity sounds never put all of your eggs in one basket.

Also demand that you get a financial statement from a well-known financial institution, not an individual.

Douglas Jones


Protecting The Flock

I had an interesting experience last weekend. Being an avid Angry Bird player, I was anxious to see the movie. We traveled over to the Wynsong theater and were greeted by the first responders of our community. Firemen, sheriffs, police officers, Lifeforce all arrived to show that they were there to "protect the flock". The flock are the birds that are being eaten by the pigs...for ... (click for more)

Thanks To Those Who Made East Ridge Stadium Possible - And Response

I would like to express my personal appreciation, and that of our entire city, to the Hamilton County School Board for its decision to fund new seating at Raymond James Stadium at East Ridge High School.   Because the former stadium was condemned in August and razed in December of last year, it would have been easy to simply let this subject fade away.   However, ... (click for more)

Settlement May Be Close In Government's $1.8 Billion Case Against Cleveland, Tn.-Based Life Care Centers Of America

A settlement may be close in the federal government's massive False Claims Act case against Cleveland, Tn.-based Life Care Centers of America. Attorneys have asked Chattanooga Federal Judge Sandy Mattice to put a 30-day hold on depositions, saying a settlement is in the works. Judge Mattice granted the motion. The government says claims in the case amount to $1.8 billion. ... (click for more)

Erlanger Projecting $15.2 Million Profit In Aggressive "Growth Budget"

Erlanger Health Systems is projecting a $15.2 million profit in an aggressive "growth budget" for the upcoming fiscal year. President Kevin Spiegel, who has led the public hospital to a succession of profitable years, said the projections are based on a TennCare waiver being renewed once again. He said if it is not renewed, then the hospital will have to completely rework the ... (click for more)

Crosby Huckabay At Heart Of Baylor Softball Success

The Baylor Lady Red Raiders have had incredible success on the softball field in recent years. Baylor is the defending D-II Class AA state champion and has won state titles in four of the past five seasons. There are three seniors on this year's team that has compiled an outstanding record of 34-4, including shortstop Mari Gardner, pitcher Kayla Hughes and first baseman Crosby ... (click for more)

Spring Fling State Soccer Brackets Set

Notre Dame and McCallie are the only area teams to compete in this week's Spring Fling Soccer competitions in Murfreesboro.   In Class A/AA, Notre Dame will play Tuesday at 6:30 in the quarterfinals.  The will face off with CAK. Winners will advance to the semifinals on Wednesday.  The Class A/AA state championship game is set for Friday at 4 p.m.   Notre ... (click for more)