Here are some facts:
1. We get lots of posts in here from people highly complimentary of the wonderful service they are receiving whenever they call this company.
2. One of these posters suggested that the company's stopping of this investment "program" is unrelated to the investigation. We are told that information comes from Pinnacle itself (and I believe that it probably does, but I can't be sure).
3. Up until Newsweek decided to stop running the ads, Pinnacle was apparently spending a lot of money advertising this program (that supposedly they were planning on discontinuing within days of the magazine coming out).
Nothing inflammatory. Readers can come to their own conclusions. There's nothing speculative. I continue to find it difficult to reconsile #2 and #3. Let's compare their sources:
#2 comes from either the company under investigation or an anonymous poster to this forum.
#3 comes from a story in the Wall Street Journal.
Since I cannot believe both to be true, I believe #3 based upon the higher credibility of the source. Others are free to believe #2 and not #3, or they can believe both are true, if they would like. This is my analysis of the facts, and I hope others find it to be constructive.
As for my comment that their consulting plan sounds laughable, I stand by it. I continue to laugh at the thought of anyone at this point now deciding to give $150K to this company which has caused so many problems and raised so many flags. If you don't like that, that's fine. I'm sure lots of people laughed at Bill Gates when he first wanted money for his software company. If you think it's a good investment, and you are so impressed with these people, then go for it. Why would you care what I think?
TN,
In reference to this quote "2. One of these posters suggested that the company's stopping of this investment "program" is unrelated to the investigation. We are told that information comes from Pinnacle itself (and I believe that it probably does, but I can't be sure). " - that individual is myself. I am not "suggesting" anything but simply reporting to the group what I was told in my conversations with Pinnacle. Many others have done the same thing here which we (investors in Pinnacle) find to be helpful to make sure we are all getting the same message.
I do believe they said USPS was new method of delivery for checks - I often interchange the two (UPS and USPS) in conversation so I hope I didn't confuse anyone.
The fact of the matter TN is that neither you, me nor anyone really knows whats going on behind the scenes at Pinnacle. Unless you work for them or are related to Gene, there's no way anyone on this site can tell us what is actually happening at Pinnacle. What people have done that has been helpful is relay to members of this group information they've been given in their conversations with Pinnacle as well as confirm that they are still receiving their checks despite all of the bad press Pinnacle is currently faced with. I do not work for Pinnacle nor was I hired to be their spokesperson. I like many others have a vested interest in a happy ending here with Pinnacle since I have my hard earned money involved with Pinnacle. Whether it is $5,000 or $250,000 I have invested with them, I still consider it hard earned money because I remember the days when I worked for minimum wage.
The last several of your posts have been mildly offensive in tone since much of what you post is typically one-sided (on the pessimistic side) and often times accsatory with no real reason behind the accusations except to further remind us of how pessimistic you are about things at Pinnacle.
You are certainly entitled to your opinion but as you've been encouraged by other members (moderator included), show some common courtesy to your fellow members and show a little compassion for what people might be feeling in light of all of the uncertainty surrounding what's really going on at Pinnacle.
Kind regards,
justanotherinvestor
Thanks for sharing, TN Apprentice. You made your point perfectly clear the first time! I think I can speak for everyone that the only thing we are all concerned about presently is getting our investments back.
I urge those of you who learn new (pertinent) information to please share it with the rest of us. In fact, maybe we should consciously limit our phone calls to Atlanta to give Pinnacle a chance to catch up and get back on their feet. It's probably tough for them to get anything done when there are hundreds of panicky phone calls each day to return.
I think it would also be helpful if we all had more facts. Especially those of you who say you got checks. When did you invest, how much did you invest, and did you get (1) your 25%, (2) your principal or (3) both your 25% and your principal.
For example, you, DLV. When did you first invest in Pinnacle? Your post on August 8 sounded like someone who hadn't invested:
This confused some of us who then read your post on Friday, September 15:
Which, even if you had invested the same night you posted, wouldn't have allowed 45 or 60 days to pass.
Also, if you could clarify a few other things about your posts, that would be great and, I'm sure, very helpful to the other readers relying on the information you are providing.
You said on Sept 25:
But two days later (Sept 27) you said:
They appeared professional, well-intentioned and eager to resolve a mix-up with my account. I'm trying to keep the faith that they will do right by me. Ill keep you posted.
So, you got your first payment the week before Sep 15, you got a Fed Ex letter detailing your account on the 25th (at which time you also praised their treatment of you, even though you had at that point been apparently trying to get an account mixup clarified for two days and were so far unable to get any calls returned.).
Also, if you could clear up exactly what that account "mixup" was and how you found out about it two days before you got your statement, that would certainly add to the pool of useful information people can find at this site.
I know from the statements in your posts that you are interested in getting all the facts out there, and by clearing up these points that are confusing some of us, it would really help the others who are coming here looking for information about where their hard-earned money has gone.
Hey everyone . . . I realize that these are difficult times, but I just need to once again ask everyone to be civil to one another. Thanks.
Thank you, Joshua!
I posted a generic question regarding Pinnacle after all threads on another website had been locked. As an investor (2 accounts) I felt it was important to have a forum available to share information. After putting in a call to find out why they were altering their program I received my statement which appeared to contradict how I had heard they were handling new funds. Turns out my check had already been mailed back to me so I was anxious for nothing.
So far so good! Go Pinnacle!
To the rest of you investors - I have been thinking about ordering pizza for all the employees down there to show my appreciation for all their hard work. I can only imagine how brutal the past couple weeks have been for them. ...Any suggestions??
I was told by Stephanie that my check would be sent out 9/27 the end of my contract date. On 9/29 I was told by Marlene that the checks were being processed so there was no date available on when my check would be sent. I'm due over 50K (principal + investment) . To say I'm nervous is an understatement considering the risk of losing that much money and being employed as an educator. If anyone can reassure me that my check will be sent it would be appreciated. Of course once I receive the check I need to be sure that the funds are there.
Sleepless in Chicago
hey whats up everybody,
I am a invester with pinnacle I'm also worried about my returns due OCT 22,24 two large account my concern is one of the properties im in has a total payout of over 1.8 million this concerns me for the reason that i do not know how many properties need to pay out before mine comes due. It would be helpful if you have a property that pays out before mine you could let us know so we know how much that pinnacle needs before they payout the next property due. I will contact the investors I kwow over the next few days and let you know their dates and amounts then mayby we will all know the amounts that we can look forward to.
Just a note that if you have had returns over your investment amounts and this turns out to be a PONZI scheme that each investor could be liable for the amounts others lost I truly hope this is not the case I have accepted my $70,000 loss but still pray that I will recieve monies back.
P.S. please do not Knock my writing skills.
their are things in my life I can do better than others but I will not tell you suck at something just try to help you!!!!!
Hey Tang1234 nice post and thanks for the information. Did Pinnacle state why they would not send checks via fedex if the investors paid for it? Think about it. They are using usps, which I'm sure costs them something, to help reduce their expenses. So would it not make more sense for them to completely allow the investors to pay for their own shipping, ultimately eliminating their shipping expenses? In addition to that, Fedex will come to their office and pick up each checks and deliver them. Using USPS requires one to drive to the post office and mail each check individually which can be very time consuming.
Can anyone here help me understand why Pinnacle is requiring the usage of USPS?
BTW, I have not received my bank wire which was due on the 27th of Sept. I called Pinnacle about it and they stated they were two and a half days behind on getting payments out. I will let everyone know when my funds have arrived. Plus I am due another payment on Oct 4th and I will request either a Fedex delivery or I will check to see if they will allow me to pick up my check at their office.
right RDC pickup check go directly to their bank get it transfered to cashiers check then no worries
RDC also what is the amounts in your properties owed to all investors. just trying to get some sence of how much they need to pay all investors.
thanks in advance for your info.....
Use of USPS is the only option and is the company's policy according to Cherise (public relation). Some investors have already got their piece of pie and I hope I will get it soon. My return is due Oct 3 and I am expecting to get the final check end of the week. Wish me luck and I will keep you guys posted.
Does anyone knows which bank to deposit the pinnacle check so I can take out cashier's check immediately? I will need to open an account with such bank in order to get this done, right? Does anyone know which bank is used by pinnacle so I go open an account with that bank? My checks are not due until 3ed week of october, but I would like to do the ground work so that funds are not held up because it is an ou-to-fstate check. Any advice?
Pinnacle not being able to send the checks on due dates and using delaying tactics suggests bumpy road ahead
00Kevin, I have no idea how much pinnacle needs inorder to pay back their investors. I only have a few accounts with pinnacle and not alot of funds in either one. But I know some people with 6 figure accounts. One which was due on the 26th and they have yet to receieve their funds. But Pinnacle stated that their check will go out first thing this upcoming week. I will keep everyone posted when checks come in.
I have been emailing directly with some investors one of whom was due a return 9/25.. they actually got there check friday 9/29.. obviously we all know they're running behind.. if someone was due 9/26 then in theory (using the 9/25 example just mentioned) they should've got their check 9/30.. maybe it being a saturday or they got another day behind, give it til monday, then I'd call to see whats going on..
With that, was anybody due a return BEFORE 9/25 who was NOT paid??
Sorry charly but we still know that they are running behind. We must give them the benefit of the dought. lets give them till wed. at the latest before we make accusations. Let the investor tell us they dont think they will receive their monies.
RDC do know the properties these investors are in iff so email me please if you do not wish to post. we can then talk on the phone.
Thanks charles there are many investors hoping to recieve their funds myself have to wait till oct 21 and 24 still looking for info that may calm my fears. I feel if we all knew the amount owed on each property each investor is in we would have a better idea whats next.
since there are no new investors what will happen to properties/developments that need to be completed. A question that needs to be answered by pinnacle.
Can anyone here help me understand why Pinnacle is requiring the usage of USPS?
Sorry I'm getting to the party late. USPS is the least expensive way to overnight a letter size item and if you are doing regular mailings you can meter them and they will pick up at your office. Sounds like they are being fiscally responsible.
Isn't that information already freely available from the county website? I would think that nervous investors would feel much better if one or more of those of you who have been in one of these partnerships that formed, did a deal, and subsequently ended that partnership (even if you then reinvested and formed another) would post the address. That way, those who are waiting could go to the county website, see that the deal really did go as it was supposed to, and they could have some comfort in knowing that money is really being made through real estate deals.
taxim are you an investor? I feel that you should post mail me give me your phone # we could talk about pinnacle you could let me know why you think this. I want to know as soon as possible if they will be able to meet their obligations. we must understand the sheer #'s involved are very large does this company have enough in reserves to handle the payouts. (Please PM me so we can talk)