Many people are outraged.
Many are losing their homes, because they don’t have a job and these guys are out partying.

Honestly, some hope they lose everything they have, but suspect unions will protect them.

Chrysler may have accepted millions in a federal bailout to stay in business, but now it has a scandal on its hands because of carloads of dope-smoking, beer-drinking workers on a shift break near a Detroit plant. WJBK Fox 2 News in Detroit caught dozens of Chrysler auto workers drinking alcohol and smoking what appear to be joints during their shifts at the automaker’s Jefferson North auto plant in Detroit.

The plant, which builds the new 2011 Jeep Grand Cherokee, was visited by President Obama just two months ago.

The investigation started five days after the president’s visit. The cameras caught workers leaving on their half-hour lunch break to head to the liquor store, and take off to a nearby park. The cameras even followed them into the liquor store to confirm the bottles in the bags were actually alcohol.

One of our old favorite stocks SPNG, Spongetech ® seems to have a “drama” surrounding it that never wants to end. The long awaited 10k release seems to be holding everyone on the planet in suspense.

We no longer own SPNG but we have been a HUGE fan of this company ever since we tried their products, which by the way are great. This is one of first rules of investing. “Would you buy what they are selling?”

Those that hold this stock are praying for its release, but we think it might reveal a bitter pill. We have done quite a bit of research on this company, the recent stories and yes, read all the news.  While we don’t have any new “facts” to add, it is OUR opinion / best guess that the upcoming 10k will show numbers that do not reflect the previously stated sales volumes.

Now, many are saying that this is just a minor “glitch” that the company will overcome and will again be a “shining star” in the trading world. We do beg to differ.

While the release of an “off numbered” 10k will cause a short spike of the stock, we think millions and millions of shares will be dumped on the market quickly deflating the price. Also, one has to keep in mind that “off numbers” will now open the flood gates to not only share holder law suits, but also possibly regulatory action of some sort.

Our opinion on SPNG?

If the 10k comes out showing numbers that have been “fudged”, and you currently own, take REASONABLE profits early. Be prepared for an onslaught of PR and news stories hammering the stock, its execs and past actions.  If you are considering buying the stock, risk only what you are TRULY willing to lose. While they “could” pull through such a problem, they do risk running into massive legal costs and judgments.

Our Forward Looking Statement:

Never believe ANYTHING we report without verifying the information yourself. Making decisions on “news” is risky and leads to many people losing large amounts of money. Never and we repeat NEVER make investment decisions based on what we other people tell you. Do your own research and be skeptical of everyone.

Also…

This news may contain “forward-looking statements” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this article which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. These forward-looking statements are made as of the date of this article, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this article are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in annual reports on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time to time with the Securities and Exchange Commission.