Tuesday, November 18, 2008

"What's Up With That?" Mark Cuban, Insider Trading, & Dancing with the Stars

"What's up with that?"

That's what I imagine Mark Cuban is saying in this picture. As owner of the Dallas Mavericks Cuban has been known to at times have a vocal temper.

But out of context I imagine Mark Cuban saying "What's up with that?" in regards to the new charges of insider trading that have been charged against him.

Personally, I think Mark Cuban is a fascinating person. I admire the breadth of his knowledge and Renaissance-man-ness. As a technology geek and founder of many companies, he began with the company MicroSolutions in the 1980s, an early computer company that serviced Perot systems. In 1990 Cuban sold the company to CompuServe.

I've mentioned Cuban some for another venture that ties in to StrangeCulture content slightly more, when Cuban and Todd Wagner started Audionet which combined their love for basketball and webcasting. This company became Broadcast.com, this company was already there well before the dot-com bubble, and was sold to Yahoo! for $5.9 billion in Yahoo! stock in 1999.

As a wealthy man, in January 2000 Cuban bought the Dallas Mavericks, and most would probably say that he has been a good man for the job leading the Maverick's well.

Cuban's relationship with Todd Wagner has also been one that has captured my film interest with the creation of Magnolia Pictures and 2929 Entertainment which has brought films to the mainstream including the great film (and Academy Award success) Good Night & Good Luck, Akeelah and the Bee, Capturing the Friedmans, and Enron: The Smartest Guys in the Room.

Cuban recently has been accused of insider trading after selling off many shares of Mamma.com, and canadian based search engine company who's less-than-google like success led Cuban, alledgly after a conversation with the founder to sell off the majority of his shares in 2004.

Cuban is probably annoyed and worried about the allegations, and as a "fighter personality" is saying "What's up with that?"

But I think he also should be saying "What's up with that?" for another reason.

Every single time I hear anyone mention on the news, in the paper, on the radio, etc. about his Insider Trading, they always describe Mark Cuban by mentioning him as former Dancing with the Stars contestant.

Of all the things in his resume (and I feel like I've only listed the highlights), they ALWAYS mention Dancing with the Stars.

On top of that, I have heard some news stories that suggest that the reason that the SEC has chosen to go after Cuban is because after Dancing with the Stars he would be more of a high profile person to go after.

Bummer if Dancing with the Stars was the reason they felt they should blow the whistle.

You can read Mark Cuban's blog "Blog Maverick" here.


Anonymous said...

Seriously. Why do people like Dancing With Stars so much that "B" of "C" list Celebs (who might have previously been "A" listers) are now known for their participation on what, I think, is really a lame TV show.

I'm sorry Mark Cuban.

custom writing papers said...

Actually illegal insider trading is believed to raise the cost of capital for securities issuers, thus decreasing overall economic growth