Saturday, September 24, 2011

Republican Debate's "Small Business Owner"

Thursday, September 22nd, Republicans held another debate at the Orange County Convention Center in Orlando, Florida.  It was sponsored by Fox News and Google.  Before the debate really started and the candidates began giving their answers something struck me as odd.  It began with the first question.

Brett Baier played a video clip of an Orlando "small business owner" by the name of Dave Meldeau who voiced his concerns regarding the current economic situation.
As a small business owner, one of the obstacles I have in growing my business in today’s economy is having the confidence and incentive to go out and hire new employees. I’m wondering what each one of our candidates would propose to do as president to help incent small businesses like mine to hire new employees and to confidently grow our business in this troublesome economic environment.
Before Rick Perry even gave a response I had paused the debate.  I was curious as to wether or not Dave Meldeau was truly a "small business owner" who was interested in incentive proposals from the GOP candidates.  The results of my search were very interesting.

According to Florida's Division of Corporations, Meldeau is a business owner from Orlando but as for being a "small business owner" in the traditional sense, Meldeau appears to be far from that definition.

Meldeau is associated with two corporations located in Florida - Outer Island Resources Inc. and Elite Trader Network Inc. (ETNtrade).

The first corporation, Outer Island Resources Inc.,  has very little information about it.  According to online searches, Meldeau's company has been in business for over five years, has estimated annual sales of $93,000, and an estimated one employee.   Outer Island Resources Inc. is the registered agent Meldeau's second corporation. 

Meldeau's other company, Elite Trader Network Inc., is a different story.  Given the information present on their website, ETNtrade sounds remarkably like one of those companies you hear about on late-night infomercials promoting get-rich-quick schemes. 

ETNtrade is less then two years old that features a team of people referred to by the website as "the elite," most of who go by aliases such as "Johnny Law," "DanTrader," or "Dollar Bart" - Meldeau is affectionately known as "OptionDave." 

OptionDave's bio reads as follows:
From 2001 to 2008, Dave Meldeau, OptionDave, traveled the world introducing Traders of all backgrounds to the protection and profitability of the Options Market. Since then, he has offered these same opportunities to a broader audience through the use of an Online Training Platform. For this reason, when you join one of OptionDave’s ETNtrade Classes, it is not uncommon to have traders from 5 continents all in attendance together.

OptionDave has taught students from over 18 countries, including the USA, Canada, England, Scotland, Ireland, France, Sweden, Australia, South Korea, Singapore, Hong Kong, Malaysia, India, Brazil, and many countries in Africa. He has had the pleasure of introducing over 20,000 to some of the Option Market's most coveted strategies that have helped his Students protect their assets and create profits no matter what the Market throws at them.
His Twitter account refers to him as a stock option trader, educator, and coach and features tweets that look like they were ripped from a penny stock message board.  Just check out OptionDave's blog where he talks about his students making enough in one trade to pay off weeks of his classes!

Now here is an interesting question - Meldeau asks the GOP candidates what they are willing to do to create incentives for people like him to grow their businesses but why should it matter to a person who appears to have two companies with seven employees who claims he can teach individuals to "create profits no matter what the Market throws at them?"

Not only does "OptionDave" seem to be an investing genius, his very business model does not seem to be centered on job creation or growth, rather it revolves around a membership base expanding to select groups with individuals in those groups hoping to make it big paying Meldeau's company hundreds of dollars so that they can participate in a 7-week program involving 14 2-hour "webinars," or seminars based over the internet.  Essentially, ETNtrade offers no tangible good, selling advice online presumably from a home office - both companies are registered to Meldeau's residential address. 

As a side note, who would trust a business that promotes the ability to teach people to protect their assets and guarantee profits in the market when it's owner's own personal property lost close to one hundred thousand dollars in just three short years?

Because of these questions surrounding Meldeau, who only appears to be asking this question as a form of self-promotion, the question itself loses all meaning and the entire debate is framed with hollow rhetoric from the onset.

Interested in Rick Perry's response?
Well, Rick Scott is sitting right over there, and he and I compete every day with trying to get jobs into our states. And what we have done in the state of Texas over the course of the last decade is to lower that tax burden on the small businessmen and women, have a regulatory climate that is fair and predictable, and sweeping tort reform that we passed in 2003 that told personal injury trial lawyers, don’t come to Texas, because you are not going to be suing our doctors frivolously.

That’s the way you get the government off of the back of small businessmen and women. And that’s the way you free up those small business entrepreneurs, where they know that they can risk their capital and have a chance to have a return on investment.

If it will work in the state of Texas, it will work in Washington, D.C. And that’s exactly what I’m going bring to Washington when I go there in November — or, excuse me, in January of 2013.
Rick Perry discusses reduction in government regulations as a solution and did anyone happen to catch just where this "small business owner" makes their money?


Enough said.

Anyone remember part of the cause of the economic collapse a couple years ago?

1 comment:

  1. Based on information regard sales (not profits) of his first business and the loss in value of his property, Meldeau is exactly the person to benefit from the president's policies.

    Also, since Meldeau described himself as a small business owner, it is probably safe to say that his second company does not make that much and Meldeau would probably not suffer from any proposed tax increase for those over $250,000. He'd probably benefit from some of those small business tax cuts passed by the administration in the last couple years.

    Also, since it seems he operates out of his home there are a whole bunch of write offs there for the guy.


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