Hoax Museum Blog: Business/Finance

THE Treasury Solicitor advertises in national and local newspapers when someone dies intestate and without known beneficiaries. It will give details of the person's name, where and when they died and the value of their estate.
About 20 are advertised each week and they cover estates valued at £5,000 or more. Adverts are issued on a Thursday which is a very busy time for the genealogists who operate in this field. These socalled heir hunters are in a race against time to piece together a family tree, find the relatives who are line for the inheritance and be the first to contact them.
There's money in it for both parties. The inheritor receives money they weren't expecting and the genealogist firm charges a fee of up to 25 pc of the money. A contract is signed before details of the deceased is given.
Fraser & Fraser is the biggest firm of genealogists in the UK and features in the BBC programme Heir Hunters showing how hard it can be to track down relatives who have inherited money from longlost family members. Researchers sift through millions of records of births, deaths and marriages along with censuses, electoral registers and other documents.
Fraser & Fraser also has staff throughout the UK on the road who speak to neighbours, social services and anyone who can shed some light on the deceased's family.
Ironically, one of the hardest jobs is convincing beneficiaries they are not part of an elaborate hoax when an agent from turns up on their doorstep with the good news.

‘God metal’, also known as ‘black copper’, is almost a myth in Vietnam. Those who claim to have seen it say it is extremely heavy but floats in an iron bucket of water. In its vicinity glass shatters, matches and lighters do not ignite, iron nails are repelled, and gold turns white.

The gang came with a notebook-sized bar of black copper weighing 2.1 kg. They performed ‘tests’ in front of him and the metal seemed to possess all its mythical properties: a mirror and a clinical thermometer did shatter into pieces and a gas lighter failed to ignite.

It's a myth that tulipmania devastated the Dutch economy. How could it, when so few people traded tulips? Even those who did survived the crash. Tulips were merely a sideline to their real professions. In any case, Goldgar explains, few buyers actually paid the exorbitant prices they had agreed. The crucial point is that this was a futures market. The flowers spent most of the year underground. Trades were made constantly, but were only paid for in summer when the bulbs were dug up. In the summer after the crash, most buyers simply refused to accept and pay for their bulbs. Some paid the sellers a small recompense, usually less than 5 per cent of the agreed price. These modest payouts don't seem to have ruined anyone. Rather, tulipmania damaged the code of honour that underlay Dutch capitalism. When buyers reneged, trust suffered. Tulipmania was a social crisis, not a financial one, argues Goldgar.

The scam was uncovered when Japanese moviestar Maiko Kawamaki went on a talk-show and wondered why her new pet would not bark or eat dog food.
She was crestfallen when told it was a sheep.

Then hundreds of other women got in touch with police to say they feared their new "poodle" was also a sheep.
One couple said they became suspicious when they took their "dog" to have its claws trimmed and were told it had hooves.

• The “Big Sale Event”. If you look in today’s newspaper, you will find that most car dealers in your area are having a sale of some kind. It may be because of a current holiday, “too large an inventory” of cars, to “reduce their taxes”, “the manager is out of town”, or some other nefarious lure... If you don’t buy a car during the tight time constraints of a phony sales event, you can negotiate just as good a price the next day.

• “The Price I’m giving you is only good for today”. If a salesman or sales manager tells you that, it is probably only a tactic to push you into buying the car.

• “Take the car home tonight and see how you like it”... there are two reasons the car salesman offers this. One is that you must leave the vehicle you might be trading in with the car dealer. This means that you cannot shop prices with other dealers. The second reason is the psychological impact of parking that new car in your driveway where your family and neighbors can see it. The slang expression for this is “the puppy dog”.

• The “really big” discount”... Federal law requires new cars to have a price sticker on the window named the Monroney label. A discount from this suggested retail price gives you a fair basis for comparison. Unfortunately, most car dealers today, increase the suggested retail price substantially with the use of an addendum to the Monroney sticker often referred to as a “Market Adjustment Addendum”. This “adjustment” can be several thousands of dollars. Be sure you know what the asking price is for the car when you have been offered a “big discount”.

New car salesmen tell the standard story of the sharpie to whom a potential buyer was referred. The salesman promptly took him for almost list price, despite the fact that the customer had a trade-in that also netted the hustler an extra commission. The salesman also took the shopper for financing and insurance at very favorable terms—that is, for the car dealer. The kicker to the story showed up on the paperwork when the salesman filled in his contact for the sale. In the space naming the source, he'd written "Mother."

The million dollar question: Will you go to Heaven? Here's a quick test. Have you ever told a lie, stolen anything, or used God's name in vain? Jesus said, "Whoever looks upon a woman to lust after her has committed adultery already with her in his heart." Have you looked with lust? Will you be guilty on Judgment Day? If you have done those things God sees you as a lying, thieving, blasphemous, adulterer at heart. The Bible warns that if you are guilty you will end up in Hell. That's not God's will. He sent His Son to suffer and die on the cross for you. Jesus took your punishment upon Himself -"For God so loved the world that He gave His only begotten Son, that whoever believes in Him should not perish but have everlasting life." Then He rose from the dead and defeated death. Please, repent (turn from sin) today and trust in Jesus, and God will grant you everlasting life. Then read your Bible daily and obey it.

"We looked at intervals of a day, a week, six months and a year after IPO," Alter said. "The effect was strongest shortly after IPO. For example, if you started with $1,000 and invested it in companies with the 10 most fluent names, you would earn $333 more than you would have had you invested in the 10 with the least fluent." Alter said the pair of scientists had been careful to address the possibility that other factors were at play in the study. "We thought it was possible that larger companies might both adopt more fluent names and attract greater investment than smaller companies," he said. "But the effect held regardless of company size. We also showed that the effect held when we controlled for the influence of industry, country of origin and other factors."

Alan Abel and I have been talking about doing something with the Powerball for the better part of a year now. It all came together really quickly last weekend when we heard that the record Powerball jackpot was finally won. A number of things came together that made this week just about perfect: It was a record amount; there was only one winner; it was won in a rural state which would make things seem less suspicious; Monday was a holiday, meaning that the lottery office would be closed, almost certainly buying us at least 24 hours to operate before the real winner surfaced.

This is just sort of the Reader's Digest version but I'll put something more comprehensive together for you on Thursday. I flew to Omaha on Sunday afternoon and arrived at midnight Central Time. Monday morning, Alan, his daughter's boyfriend Jeff (who was there to videotape the event and was playing my son) and a lovely woman named Nancy (who played my niece) headed over to Lincoln to set up. We found the convenience store where the ticket was sold; there were about a half-dozen TV satellite trucks outside it. We wanted to find a nice Mom and Pop-type restaurant not too far from there where we could operate.

On the same street, but across town, we found a Denny's-type place called The Village Inn. I walked in, introduced myself to the manager and gave him an envelope with $2000 in it, which I told him to use to pay for the check of everyone in the place. Within about 10 minutes, the first reporter, from a local radio station, showed up. I recorded an interview with him and he also did a live shot from there over his cell phone.

Next, I got a call from Good Morning, America which wanted to fly me to New York City immediately so I could be on their show the next morning. Obviously, I had to decline. Then the floodgates opened. Over the next 2.5 hours or so I was inundated with media. At one point, I had five TV cameras pointed at me, a radio reporter to my left and a print guy to my right. It was madness.

In time, though, the inconsistencies in my story started to show. Since I wasn't privy to the details of the real ticket, I had to make things up. I said that I bought one ticket; the lottery commission said, however, that the winner had bought five sets of numbers on one ticket. Also, I said that I thought that it was a man who sold me the ticket; in reality, it was a woman who sold it. And so forth.

Finally, we decided to head back to our hotel in Omaha. We weren't sure if the thing was going to have "legs" as they say, but it's only gotten crazier since then. I did a short interview over the phone with KPTV, Channel 12 in Portland, OR from the airport in Vegas. Today, I talked to a columnist in Des Moines, KPAM radio in Portland and I'm going to be on the Johnathan Brandmier show in Chicago early Thursday morning.

By the way, using the last name "Pagano" rather than "Pagani" was Alan's idea. His thought was that I HAD to use a different name since I'm fairly prominent on Google but if I used a totally different name, it was possible that one or more of my friends would see me and contact the media outlet to let them know that they got my name wrong. On the other hand, with only one letter off, they'd think that it was a simple typo and just let it pass. Good thinking.

I should mention that the whole venture was bankrolled by a guy named Joe Vitale, who has a website at joevitale.com. We couldn't have done it without his patronage.

So, that's the thumbnail version. I'm going to be putting together a longer narrative later, as soon as I (hopefully) get over the horrible virus which has infected everyone in my family and which is making it almost impossible for me to hear anything on my right side.