One of my favorite business moguls is Dallas Maverick's owner Mark Cuban. Mark is one of today's best marketers, his area of expertise is self promotion. Reports hit the wire today that Mr. Cuban is being charged with insider trading by the securities industry watchdog, the very formidable SEC. The SEC is claiming that Mark, sold his stake in Mamma.com, using insider information, just hours before the company was to do a second offering of shares which would have diluted the float and had a negative affect on his 6% stake. Mark made his money by selling broadcast.com to Yahoo for 6 billion dollars - months before the infamous dotcom crash at the end of the last decade. Mr. Cuban then bought the NBA franchise, the Dallas Mavericks and has since been an outspoken owner and fan advocate. He has publicly criticized the league for the way it treats its fans and is known to complain when the refs make a mistake resulting in a unfavorable call. Mark puts his money where his mouth is and currently offers some of the best deals for fans coming to his teams home games. $2 tickets, yup that's right, only $2. The Mavericks have a special 2000 seat section reserved for $2 tickets. These accusations come at a bad time for Mark, since he is currently trying to purchase the Chicago Cubs from billionaire Sam Zell, many in Major League baseball are trying to block Mr. Cubans entry in fear that he will be as outspoken about MLB as he is about the NBA, its how the powers that be keep admission to the good ol boys club exclusive. I feel that this entire charge is based on smearing his name in the mud and preventing him from going forward with his pursuit of owning the Cubs.
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