This story about Scott Brown and “Global Digital Solutions,” the New Jersey California Florida-based beauty supply telecom firearms company on whose “advisory board” Brown serves, just keeps getting better. To refresh your recollection, this company gave Brown 1.5 million shares of stock, which had a market value of over a million bucks at the time but now has declined to a little over $500,000, in exchange for … well, it’s unclear exactly what he’s done for them other than allow them to put him on their website. And, as the Globe has previously reported,
Global Digital Solutions Inc. does not yet sell or make guns. It has no revenue, no patents, no trademarks, no manufacturing facilities, and no experience developing weapons, according to its most recent corporate filings…. The company, instead of selling firearms, has churned out press releases to attract small investors, including the one about Brown joining the firm, and issued millions of shares of stock to fund its operations.
Today, the Globe reports that Brown has graciously agreed to comment on the story. Here’s what he had to say.
“Yeah, it’s a legitimate company,” Brown said. “It’s filed the appropriate paperwork. It’s doing what every other startup company does.”
Actually, whether this company is “doing what every other startup company does” strikes me as … debatable. Filing the “appropriate paperwork” doesn’t mean diddly, and real startups usually, you know, do stuff. They make things, or they are developing things, or something. They’re not just cranking out press releases about how they are going to acquire billion-dollar companies with no obvious means of doing so. Brown says that his role at Global Digital is to “offer guidance and advice and be a sounding board” to them. I wonder if he advised them on the Remington “acquisition“?
So, in addition to everything else, Scott Brown apparently has no idea what a real business looks like. The sooner New Hampshire Republicans wise up about this guy, the better off they will be.
He just doesn’t have that kind of reputation. To the contrary, in fact.
Pretty obvious he’s just the beard for various near-Ponzi follies.
and sees a sign that says “Pants pressed here.” He goes in to get his pants pressed only to be told that Global Digital Solutions does not press pants; however, the sign is for sale.
(H/T Soren Kierkegaard, Either/Or)
Is it too much to ask for him to lose his primary?
Isn’t former Senator Bob Smith running? If so he is actually the one more likely to attract the type of voters who will show up for a primary.
Scott Brown was first tipped off about it from Fat Tony when they met here:
Name value as a former, albeit short term, US Senator? Experience with guns as a long time military man? Connections within the federal government for all sorts of things. Seriously, aside from connections and name value, does he bring anything of value to them?
Value? No. From all appearances, the participants in “Global Digital Solutions” don’t know sugar from shinola when it comes to value.
I don’t think they seek “value”, in the sense businesses use the word. I think the other participants in GDS seek notoriety, buzz, and whatever cash they can bamboozle. I think they recognize in Mr. Brown someone equally desperate for the same things.
to obtain a couple hundred dollars worth of food stamp benefits every month that they did no work for. Scott will make his $500,000 on this deal through good old-fashioned hard work, right? Right?
His stock option has lost half its value before he’s even started! (Danfromwaltham, where are you? I’m doing your work for you.)
I’m reminded of the disgruntled ENRON employees who contemplated filing suit against the executives, claiming that the executives had “stolen” the generous pension funds (that were all held as ENRON stock).
The wind came out of that sail when they realized that the GAINS in that stock were all fraudulent — there was nothing to steal.
$1 billion loss but let that go. He has a D next to his name.
You gonna ask us about why all those “Democrats” voted against the Civil Rights Act too? I don’t think Corzine was ever particularly popular on this site, neither are corporate Dems like Booker, Cuomo, or Schumer for that matter. None of us have defended Charlie Rangel. Unlike your side, we try and throw our trash out when we get a chance (see Fox News defending Cliven Bundy AFTER he was outed as an unrepentant racist).
helping a “legitimate” startup company, not linking him to Jon Corzine! I don’t think Scott would appreciate your doing that.
I’ve worked in startups for most of the past three decades. Scams like “Global Digital Solutions”, and the con-artists who work with them, have been hiding under rocks for all of that time.
I first learned of this kind of garbage in the late eighties, when the investors of a failed computer workstation startup I had worked for sold the corporate shell (the name, articles of incorporation, tax id, that sort of thing) to an obscure fly-by-night concrete contracting company in Florida.
The sad truth is that this company, and Scott Brown, is different in degree — and not substance — from Bain Capital and Mitt Romney. Oh sure, I grant that there is a difference in “legitimacy” — and that difference is largely because Bain had more money to throw around.
Every entrepreneur learns to be wary of firms like Global Digital Solutions and Bain Capital, and of individuals like Scott Brown and Mitt Romney.
The revolting part, for me, is the reluctance of the mainstream media to actually say so. In my view, this is due in no small part to the substantial ownership the Mitt Romney’s of the world have in the remaining mainstream media outlets (and the advertising dollars that sustain them).
Like so many other things he does, this embarrassing story mostly shows how desperate Scott Brown is to play in the “big leagues” with the likes of Mitt Romney. He won’t succeed, because the Mitt Romney club is a very exclusive one, and Scott Brown’s heritage (yes, an intentional choice) doesn’t make the cut.
He does, however, have this in common with the “investers” Scott Brown seeks to emulate — they’re all scum.
are birds of a feather. All sizzle, no steak. All hat, no cattle.
Did they borrow hundreds of millions of taxpayers monies, then funnel donations to their friends in D.C. and then go belly-up? Are they misrepresenting their assets or liabilities? Are they obtaining govt contracts that appear pay-to-play? I never heard of a penny stock not being high risk, you can buy stock in this company for 46 cents. What do you you are buying, Apple stock?
So, you’re saying no money has gone to friends in DC? What about the $500k to Scott? Oh, he’s not in DC anymore. Oh wait, it’s a legitimate company, and Scott has worked for that money as opposed to just having it handed to him as a donation. Is that the point you’re making now?
It’s in stock options. If Scott helps bring in investors, then it may be worth that or more. It could fall to zero, no? If he sells his options, doesn’t someone need to buy them? Isn’t that how it works?
I didn’t make the comparison to Dem Jon Corzine, just pointing out to Tom and those that read Tom’s comments, that Democrats play the market. Although Ken Lay was very close to the Clinton Adm., and supported Kyoto Treaty, but let that go.
it falls to zero, no, and make $500k, and what has he done to earn that? What investors has he brought in? And what are these investors supposed to invest in? It’s a company that makes nothing.
Let’s say its a rolling option, Scott still didn’t sell any from Jan-now. Who knows, it could be the next big thing and why he is holding on. There is nothing there there.
On a sidenote Dave, it is I who suggested that we text all intangible assets over $100,000, so if Scott held onto his stocks and they are worth 500,000 I would tax $400,000 of that value at 2%. Of course hardly anyone agreed with me. Second we need to prohibit any corporation or union who received government contracts from donating/contributing to any political campaign.
This is no “startup”, it’s a scam. It’s not even vaporware. The point is that you CAN buy stock in this empty shell. It would be a ripoff at $0.01.
Scott Brown has effectively endorsed this company, that’s why he received his “options”. That endorsement says everything that needs to be said about Scott Brown, his values, his judgement, and his ethics.
Isn’t it pretty much obvious what is wrong. They are a bogus company with no products, no services, no real assets, a totally implausible business plan, and a number of high profile “advisors” with no applicable experience. Only a gullible fool would believe that Scott Brown has actually performed any service for this company other than to lend his name.
It is crystal clear that this company is not going to be successful in their stated plans. So what are they getting from Scott Brown? A lure for clueless investors? There is no way that Brown can make this look good for himself.
Who expected substance and integrity from a candidate who accepted fund raising contributions from the New England Compounding Lab folks….Ooops!
Until they injured and killed so many….
Or Scooter Brown’s devotion to Best Bud Sticky Fingers Piontkowski….Ooops! Until Sticky Fingers got caught robbing the till…..
Same Old! Same Old! Some candidates ya just gotta boot.