• The KillerFrogs

#BAYLORTEARS

AroundWorldFrog

AroundWorldFrog

Full Member
Mean Purple said:
Should not shock anybody anymore. That place has a total culture of "do what you think you might get away with as long as it gets you what you want...screw integrity." Think about it. A state official from there is under investigation on securities issues. A bor member played games at a bank/finanical company and screwed investors. And their experts in shiplap screwed over their own business partners...
http://www.foxnews.com/entertainmen...ed-by-former-business-partners-for-fraud.html

Darn Baylol
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That sounds soooo Baylor.
 
M

Mean Purple

Active Member
Frog DJ said:
I had an interesting conversation at church Sunday with a BU alum who I had previously respected for what I thought was his integrity and clear-headed attitude about this scandal.

He was especially proud that Baylor had hired a woman as President of the university, and he openly expressed hope that it would signal a change in the culture at his alma mater.

I responded by lauding BU for the move, but hastened to add that rough times were still ahead, because the lawsuits and the resulting bad PR from those legal actions were still looming on the horizon.

He gave me a perplexed look and asked what I meant, so I pointed out that it took TCU a good two years to overcome the damage done by the so-called "football drug bust," and I added, "And that was nowhere near as bad as Baylor's scandal."

He scoffed at that notion, declaring that he considered the whole ordeal to already be in Baylor's rear-view mirror, and that the new president's only major hurdle was negotiating the internal struggle to get the football program back on track.

I just smiled and nodded as if to say, "Whatever you think."

Clearly, I have grossly underestimated the level of delusion in Waco...

Go Frogs!
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Much like ole Ken, the new President at BU will be nothing more that a puppet for those at the top of the BoR. They have always operated that way. When they had Robert Sloan, who actually took action and tried to improve that place, the BoR good ole boy gang ran him outta town on a rail.

That crap camp will never change.
 
F

froginaustin

Active Member
AroundWorldFrog said:
That sounds soooo Baylor.
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The name Allen Sanford ring a bell? A few years back, some of the geeps on bf.com pizzed and moaned when the feds shut Sanford down, because they were thinking he would re-endow good ole BU. Didn't worry a bit about Allen stealing the life savings of the old, the halt, and the lame (not to mention stupid greedy people that were sucked in by his fraud).

https://en.wikipedia.org/wiki/Allen_Stanford
 
P

PO Frog

Active Member
froginaustin said:
The name Allen Sanford ring a bell? A few years back, some of the geeps on bf.com pizzed and moaned when the feds shut Sanford down, because they were thinking he would re-endow good ole BU. Didn't worry a bit about Allen stealing the life savings of the old, the halt, and the lame (not to mention stupid greedy people that were sucked in by his fraud).

https://en.wikipedia.org/wiki/Allen_Stanford
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I loved he and Lamont
 
tcudoc

tcudoc

Full Member
PO Frog said:
I loved he and Lamont
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Deep Purple

Deep Purple

Full Member
Mean Purple said:
Much like ole Ken, the new President at BU will be nothing more that a puppet for those at the top of the BoR. They have always operated that way. When they had Robert Sloan, who actually took action and tried to improve that place, the BoR good ole boy gang ran him outta town on a rail.
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With minimal fundraising, Sloan went on a spending binge and ran up a mountain of debt. To increase revenue, Baylor was forced to dramatically increase tuition. As a result, applications plummeted and they had to start throwing even more money around to entice applicants.

It wasn't about control, it was about piss-poor management. They didn't see Sloan's actions as "trying to improve that place."
 
Chongo94

Chongo94

Active Member
Wouldn't that fraud case be hard to prove? I mean he did still pay the other two guys, it's not like he took their money and then left them hanging or something like that. For the lawyers around here, what are the intricacies to all this?
 
P

PO Frog

Active Member
Chongo94 said:
Wouldn't that fraud case be hard to prove? I mean he did still pay the other two guys, it's not like he took their money and then left them hanging or something like that. For the lawyers around here, what are the intricacies to all this?
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Yes it would be hard to prove as all fraud is hard to prove. They would need to show he had a duty to disclose the potential business to them and that it was material, in addition to proving that he didn't tell them about it. Plus show damages. Perhaps Chip did it out of convenience so he wouldn't have to set up a new entity to use for the show. HGTV wouldn't have cared. Nothing about Magnolia Realty was the basis for the tv deal IMO, so why these guys think they deserve a piece of the pie is a mystery. Granted, I didn't read the lawsuit and won't, so this is just a guess.

"Fraud By Omission -the suppression or omission of a material fact which a party is bound in good faith to disclose is equivalent to a false representation, since it constitutes an indirect representation that such fact does not exist"
 
tcudoc

tcudoc

Full Member
seems akin to insider trading. He knew he was about to be on a TV show, which would give him leverage in his realty business. He did not disclose that there was a very good chance he was about to be, at the very least, cable TV famous. Pretty shady stuff IMHO. It sounds like there were some threats involved as well. He also had no qualms about throwing away a life long friendship over the issue. He's likely not as charming a person as my wife and many other women across America thinks he is.
 
P

PO Frog

Active Member
tcudoc said:
seems akin to insider trading. He knew he was about to be on a TV show, which would give him leverage in his realty business. He did not disclose that there was a very good chance he was about to be, at the very least, cable TV famous. Pretty shady stuff IMHO. It sounds like there were some threats involved as well. He also had no qualms about throwing away a life long friendship over the issue. He's likely not as charming a person as my wife and many other women across America thinks he is.
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That's twice your wife has been drastically wrong, at minimum.
 
Brog

Brog

Full Member
Mean Purple said:
Much like ole Ken, the new President at BU will be nothing more that a puppet for those at the top of the BoR. They have always operated that way. When they had Robert Sloan, who actually took action and tried to improve that place, the BoR good ole boy gang ran him outta town on a rail.

That crap camp will never change.
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Would be curious to see a list of Universities where the Chancellor/President runs the Board of Regents/Trustees. In all the ones I'm acquainted with, the Board of Trustees runs the show and the Chancellor/President serves just as long as he/she does a good enough job to please them. There's a long, long list of Chancellors/Presidents who suddenly and mysteriously decide that they "want to return to teaching, their first love," and submit resignations. Anybody really wonder who is running the show?
 
jack the frog

jack the frog

Full Member
Chongo94 said:
Wouldn't that fraud case be hard to prove? I mean he did still pay the other two guys, it's not like he took their money and then left them hanging or something like that. For the lawyers around here, what are the intricacies to all this?
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I am no lawyer but our brokerage firm went through something similiar in 2003. A minority 10% owner and fund operator (he did not manage day to day operations) was bought out by by majority partners for cash. Six months later they closed on a 300mm sale of the assets and trading software to NASDAQ. As it played out the primaries had been going to NY to negotiate the sale over the previous year under the guise of a 9-11 visits. We knew some Cantor Fitzgerald employees well. The deal went to court and the majority partners were clobbered. Failure to disclose material events, etc., as I recall. They made the 10% owner whole plus some damage as I recall. Funny thing is, about 20 of us owned the remaining 10% and they did not bother to offer us the same buyout. Too small to worry about I guess.
 
Chongo94

Chongo94

Active Member
jack the weed said:
I am no lawyer but our brokerage firm went through something similiar in 2003. A minority 10% owner and fund operator (he did not manage day to day operations) was bought out by by majority partners for cash. Six months later they closed on a 300mm sale of the assets and trading software to NASDAQ. As it played out the primaries had been going to NY to negotiate the sale over the previous year under the guise of a 9-11 visits. We knew some Cantor Fitzgerald employees well. The deal went to court and the majority partners were clobbered. Failure to disclose material events, etc., as I recall. They made the 10% owner whole plus some damage as I recall. Funny thing is, about 20 of us owned the remaining 10% and they did not bother to offer us the same buyout. Too small to worry about I guess.
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Interesting. I guess it will all come down to that failure to disclose and when things were known or not known.
 

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