Sponsored by OptionsXpress, financial television heavyweight CNBC concludes it's much publicized 10-week on-line stock trading sweepstakes challenge, with a final $1 Million prize, "Million Dollar Portfolio Challenge, after it's first week seems to be dominated--some say "hi-jacked"-- by one very prominent registrant.
It's a fair assumption that for several thousands of NBC's registered participants, the million dollar question is: "Who is Nancy Beaumont, of California?"
A REPORT & COMMENTARY: [
Holy loopholes million-dollar gamesters! It would appear Nancy Beaumont (real name?) has found a very big loophole in the rules set-out in CNBC's current “Million Dollar Portfolio Challenge”—a very big loophole, indeed.
As of 6:12:14 AM (Eastern Standard Time) on Saturday morning, March 10th. This image clip demonstrates that of the top 25 portfolios, Nancy Beaumont holds the top 3 positions, as well as spots: 6, 7, 11, 12, 15, and 17. In all probability, Ms. Beaumont (or the player registered as) has even more—albeit less successful—portfolios.
Well... it's doesn't take a master strategist to safely predict that this is a situation bound to cause a wee bit of concern, for several hundred thousand registered users—including me, since I took up the challenge as well. I suppose, however, the true number of actual players versus register participants is a much more dubious figure, now that Ms. Beaumont's apparent affinity for multiple registration entries has come to light.
Nevertheless, it's a safe bet a few corporate attorneys (between OptionsXpress and CNBC, to name a few) are not having a quite weekend; but the logic of the discussion, from the OptionsXpress, the official sponsor of the promotion, will likely go as follows:
Question: Was this entry a violation of the “letter of law”, or in this case “rules”?
Answer: No.
Question: Then, said Nancy B cannot be officially disqualified
Answer: Correct.
Question: How big of a situation is this?
Answer: Big, very big!
Question: Does this place our “promotion”--meaning the “Portfolio Challenge” in jeopardy? Jeopardy will probably mean two things.
1st – Legally. What is the legal exposure from any actions brought against the contest by participants (supportable or otherwise), as well as from terms of the contract with CNBC?
2nd – Public Relations & Images. What kind of fall-out is there likely to be?
Answer: (Hight Speculative): Your guess is as good as mine...
Of course, the smart solution will be the one that will that can resolve the dilemma to the satisfaction of to everyone involved. Only the parties and personalities involved know the true measure of what can and cannot be done, at this stage.
My suggestion, would be cancel the present game, rewrite the rules, start over, and use the ensuing press coverage over the controversy as a way of attracting an even wider audience.
Oh, and if this is a viable option, it would be prudent if a few process serfs should be pumping out press releases like mad to every news medium, chat forum, and blog across the seven seas, exclaiming the “Million Dollar Do-Over”
Finally. To Nancy Beaumont, I put my right foot forward and extend to you a gentleman's bow, simply to acknowledge a game well-played! In the real non-gaming world, that's the sort of smarts that really does win.
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WHO ELSE HAS SOMETHING TO SAY? Here's a few links to some of the personal chatter on this topic around the Web:
As of today, Nancy Beaumont, although not in the top 10, but she has taken over 11 ... So today is the launch of CNBC’s Million Dollar Portfolio Challenge. ... tycoonsrow.com/
CNBC 1 MILLION MANIPULATED I PERSON WITH 17 ACCOUNTS
Stockpickr! Your Source for Stock Ideas
For all of us here chatting about this million $ challenge, tell CNBC that there ... Also, ask them what they're going to do about one, Ms. Nancy Beaumont. ... http://www.stockpickr.com/allforum/478/2/
