I had to put the annalisis of Trenam.com on hold while investigating the very suspicious link that was hidden in their footer. It turns out that they’re hosted over at Bayshore Solutions (one of the biggest local hosting providers) and that one of two possible situations exists over there:
1.) The CMS that Bayshore uses to maintain it’s customers’ sites is exploited and someone is using it to sell links and transfer page rank at will.
OR
2.) Bayshore or perhaps an ex-employee of Bayshore is hand inserting links into sites that they know have no tracking code installed and therefore no one will get any reports of the outboud activity.
Judging from the comments at JobVent.com I’m betting on the second option 
I’ve backtraced the hack and put together a list of 10 of Bayshore’s clients who I know are hacked… called two of them and had them call Bayshore to get the hacks removed… now we’ll see if there is any proactive work done… I’ll watch the other 8 that I know of and see if Bayshore cleans them up.
Stay tuned.