The Lure of Exclusivity
In 1991 the United States Postal Service froze $7 million of Nadel’s assets, charging him with a violation of federal mail fraud and money laundering statutes.
The following year Joel Nadel was further crucified―this time by the U.S. Securities and Exchange Commission―for touting financial securities in his newsletters (in the words of the SEC) “without disclosing the receipt of compensation from issuers, underwriters or dealer of the security, in exchange for the touting.” This was a classic pump-and-dump scheme. The price of a stock is pumped up by being praised to the skies in a newsletter, whereupon the underwriters dump the shares into the market place and clean up. Nadel was fined $100,000 by the SEC.
A New York Times paid obituary notice reported that Nadel assumed room temperature in April 2006.
The Oxford Club was bought by William Bonner, who is not only a master of drawing people into his world of privacy, privilege and exclusivity, but also is arguably the greatest copywriter in the world.
In 1979, Bonner wrote a dry test mailing offering subscriptions to International Living, a newsletter that existed only in his head―and would only be published if the mailing were successful. Bonner's lede:
You look out your window, past your
gardener, who is busily pruning the
lemon, cherry, and fig trees ... amidst the
splendor of gardenias, hibiscus, and hollyhocks.
The sky is clear blue. The sea is a deeper
blue, sparkling with sunlight.
A gentle breeze comes drifting in from the
ocean, clean and refreshing, as your maid brings
breakfast in bed.
For a moment, you think you have died and
gone to heaven.
But this paradise is real. And affordable. In
fact, it costs only half as much to live this dream
lifestyle... as it would to stay in your own home!