What do Wall Street types think about our reports that Campus Crest Communities CEO Ted Rollins has been investigated for child sexual abuse of his stepson? What do they make of public documents that show Rollins was convicted for a brutal assault on the same stepson?
Wall Street has heaped more than $400 million of support on Rollins' company since late 2010, so you would think analysts and investors might have concerns about unseemliness in the CEO's background. Under certain circumstances, it can be unlawful for a public company or its underwriters to fail to disclose a CEO's criminal history. These can be extremely serious matters, so it's only natural to ask: What does the investment crowd make of these disclosures?
We are asking that question--and others. But so far, we aren't having much luck at getting answers. When we try to reach a Wall Street type by telephone, making it known that we have questions about Campus Crest Communities, he seems to scurry away from the receiver. When we send questions to a Wall Street type via e-mail, asking about Campus Crest Communities, his computer keyboard suddenly becomes toxic. ("Must . . . not . . . touch . . . ")
Consider Vivek "Vick" Seth, of Raymond James in Tampa, Florida. He seems to be the No. 1 driving force behind the Campus Crest IPO, which raked in about $380 million. You might think that Mr. Seth would be doing back flips to discuss this wondrous company and its CEO. But you would be wrong.
I called Mr. Seth's office and left a message on his voice mail, asking him to call me. No response. I sent an e-mail, explained the subject matter, and asked him to contact me. No response. I sent a list of questions via e-mail and asked him to provide answers in writing. No response.
I went through the same procedure with Buck Horne, who is listed as the chief Raymond James analyst for Campus Crest. No response.
What was going on? I called Mr. Seth's office again and spoke with a helpful woman named Tiffany. Here, in part, is how our conversation went. (Please see video at the end of this post.)
Tiffany: Vick Seth's office, this is Tiffany.
Schnauzer: Yes, may I speak with Mr. Seth please?
Tiffany: Can I tell him who is calling?
Schnauzer: Yes, my name is Roger Shuler.
Tiffany: OK, Roger, the company you are calling from?
Schnauzer: I'm a journalist in Birmingham, Alabama.
Tiffany: OK, one moment. Can I ask--he's going to ask--what you are calling about?
Schnauzer: Yes, I was calling about Campus Crest Communities.
I don't know about you, but I had the distinct impression from that exchange that Vick Seth was present and imminently available. In fact, I envisioned him with feet propped on his desk, shooting spitballs into a waste basket with one hand and counting $100 bills with the other.
But after a short pause, Tiffany returned to inform me that Mr. Seth had suddenly become unavailable. I left my number and asked if she could have him call me. She said she would do that.
I'm still waiting for the call.
Based on the images in the video below, Mr. Seth obviously has plenty of time to buy hair gel. But answer questions about a company that has drawn more than $400 million in investor support? Ah . . . not so much.
Actually, I have reached one Wall Street type who was willing to discuss Campus Crest Communities and Ted Rollins. Her name is Paula Poskon, a senior research analyst at Robert W. Baird and Co., one of about six underwriters on the Campus Crest IPO. My interactions with Ms. Poskon were most insightful. In fact, I would say "fascinating" is not too strong a word to describe them.
I actually had a Wall Street analyst speaking candidly, at least for a while, about the intersection of high finance and a profoundly important problem in society. And she obviously wound up regretting it, although I'm not sure why.
Perhaps this is the First Commandment on Wall Street: Thou shalt not speak openly and honestly about a CEO. Maybe Ms. Poskon violated it. As a journalist, I appreciated her candor; I'm guessing her Wall Street colleagues will not be so appreciative.
That story is coming soon here at Legal Schnauzer. You won't want to miss it.
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ReplyDelete".. Today, we at OpenSecrets.org are unveiling our newest tool to track the influence of organizations here in Washington: at-a-glance profiles that tie together the many different types of information the Center for Responsive Politics collects on any given organization, including campaign contributions, lobbying expenses and even how many members of Congress invest in a company. In the past, we've maintained all of this data, but unless an organization qualified as a "heavy hitter," the various pieces of information were found in separate locations ...."
All Wall Street's CEOs are with their corrupt "corporations," all.
/rk
Time for letters LS, et al:
ReplyDeleteDennis G. Jacobs, Chief Judge, Admit bar 1974 # 1203173, and Carol Bagley Amon, Chief Judge, Admit Bar 1980 # 1698760, Second Circuit US Court of Appeals, 500 Pearl St., New York, New York, 1007-1316 AND 225 Cadman Plaza East, Brooklyn, NY 11201-1818,
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Attorney Carl Mayer, a counsel for Hedges and his co-plaintiffs, confirmed to RT early Monday that the stay was in fact filed with the Second Circuit.
“This may be the most significant constitutional standoff since the Pentagon Papers case,” Carl Mayer says in a separate statement posted on Mr. Hedge’s blog ...."
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Is it possible that Vick Seth is just press shy?
ReplyDeleteAnon at 12:20--
ReplyDeleteIn the image at the beginning of our video, Mr. Seth is being interviewed at an REIT (real estate investment trust) conference. It looks like Mr. Seth is comfortable being interviewed when he knows the questions are going to be lobbed in softball fashion.
Apparently, Mr. Seth was concerned that I might throw a high, hard one, up under his chin. Seems he wants no part of such interviews.
Here is a link to that REIT interview:
http://www.youtube.com/watch?v=7IPEJuMuq5o&feature=relmfu
"Based on the images in the video below, Mr. Seth obviously has plenty of time to buy hair gel."
ReplyDeleteHa, ha! Pretty good gig there, Schnauzer. Made me chuckle. The guy does go overboard on the "product."
where's Mike Wallace when we need him?
ReplyDeleteJames:
ReplyDeleteVick Seth's refusal to speak to the press about Campus Crest Communities is more than just shameful and cowardly. We're talking about a company that works hand in hand with taxpayer-funded universities to build student housing that is as close to campuses as possible--in one or two cases, it actually is on a campus. In its SEC documents, Campus Crest states that its interactions with universities is an essential part of its business plan. Not only is the company publicly traded, it interacts heavily with publicly funded entities. Without those entities, it would have no market.
Campus Crest is a matter of taxpayer interest, so Mr. Seth should feel an obligation to answer queries from the press. His failure to do so indicates he knows about the ugliness in Ted Rollins' past and is trying to cover it up--both from investors and from taxpayers.
A thought about Mike Wallace: He has gone to that great broadcast booth in the sky. But even if he were alive and active with "60 Minutes," the MSM is so interlocked with corporate America these days that he might not be allowed to do an expose on Ted Rollins. If you look closely at Campus Crest financial backers, I wouldn't be surprised if the companies that own CBS have a financial stake in Ted Rollins' outfit.
ReplyDeleteOf course, 60 Minutes still exists, even without Mike Wallace. But I would not be surprised if interlocking financial interests would keep CBS from taking a hard look at Campus Crest.
This is a classic 60 Minutes story. Here is the summary: In the wake of the Jerry Sandusky scandal that brought shame to Penn State, numerous universities are opening their arms to a student-housing developer led by a man who has been convicted for assaulting a young person and investigated for child sexual abuse. In the aftermath of numerous Wall Street scandals that led to our nation's near financial collapse, big investment banks are heaping money on this company, while analysts refuse to answer questions about it.
James, it would be interesting if you were to go to the 60 Minutes Web page and send them a story tip, phrased just like the paragraph above. You could add that it's about a company called Campus Crest Communities, based in Charlotte, NC, led by a man named Ted Rollins and doing business at 36 universities from coast to coast. See if they have any reaction. You could add that Ted Rollins markets apartments to young people and their parents after having cheated his ex wife in court so badly that she and his own daughters have been on food stamps and have almost been homeless on several occasions.
I would encourage other LS readers to try the same thing. Let's see if the MSM still has a spine.
Corporations and its CEOs do not apply for accountability to the public. The Supreme Court decided.
ReplyDelete"Taxpayer?"
This, according to Tommy Cryer, is to be challenged.
A cruel hoax, an infinite ponzi heist. Ben Bernanke just released another statement about printing money and infinite credit, there is no end to the fraud. The corporations have needs, just ask Ted and Campus Crest.
The Federal Reserve System has assumed the role of monetary dictator, and what we the consuming public get, are the criminals killing US in a "class war," see the corporations with yet more QE.
When far too many women who are young, athletic, healthy and in a sudden death or disappearance(s), and the connection(s)? AND working for a Congress representative(s) .. then, clearly, it's too many deadly criminally insane in positions of power.
The news proves with Joe, to be other than main street's common "plumber," ah, yes, Wall Street's best "plumbers," must be protected. REIT, Fannie, Freddie, Ginnie Mae and name a tightly knit money glob blob not connected as laundering the operation to where no one except the "Supreme Court?" knows.
We People v. Supremes class action?
Do not expect a WMD to not be used, we were warned that should we not "be with them," then we against the BLOB, are to feel pain far more than ever before, see Goldman Sachs' statement to know what is coming. /rk
one done, best/rs, rk
ReplyDeleteTO: Mike Wallace, from "Sky Place" ..
"... Campus Crest financial backers? The companies that own CBS have a financial stake in Ted Rollins' outfit?
Do interlocking financial interests keep CBS from taking a hard look at Campus Crest?
Here, a classic 60 Minutes story, summary: In the wake of the Jerry Sandusky scandal that brought shame to Penn State, numerous universities are opening their arms to a student-housing developer led by a man who has been convicted for assaulting a young person and investigated for child sexual abuse. In the aftermath of numerous Wall Street scandals that led to our nation's near financial collapse, big investment banks are heaping money on this company, while analysts refuse to answer questions about it.
60 Minutes story tip, about a company called Campus Crest Communities, based in Charlotte, NC, led by a man named Ted Rollins and doing business at 36 universities from coast to coast. Ted Rollins markets apartments to young people and their parents after having cheated his ex wife in court so badly that she and his own daughters have been on food stamps and have almost been homeless on several occasions ..."
To be shared globally, thank you. See Legal Schnauzer and Roger Shuler for the best reporting on this, /rk
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Don't address to Mike Wallace. He died a year or so ago.
ReplyDeleteThat is why from "Sky Place" - the "attention" is in the "intention," or turnaround the artistry in the "imagination," meaning, TO: Mike Wallace who died, from wherever in the "sky?" he may be in "place" and, therefore, his name energy calls as the best card to 60 minutes.
ReplyDeleteOr, send to the name of any and or all of the late greats that were there, let us send to them and the new too. Can't convince me the watchers do not sneak previews from time-to-time.
/rk
Roberta: You know Mike was Jewish, right ? You seem to have a real problem with us.
ReplyDelete