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| Paula Poskon |
A Wall Street analyst gasped and said, "Oh, My God!" when she was told that Campus Crest Communities CEO Ted Rollins had been investigated for possible child sexual abuse of his stepson.
Paula Poskon, of Robert W. Baird and Co., expressed concern when she learned that public records show Rollins was convicted for an assault on his stepson in 1995 in Franklin County, North Carolina. But she audibly gasped when she learned that Rollins had been investigated in 1993 for child sexual abuse involving the same stepson--a case that is reminiscent of the Jerry Sandusky scandal at Penn State, which began in roughly the same time period. (See video at the end of this post.)
"I had not heard that," Poskon said, with a tone of alarm. Her company was one of about six underwriters on a $380-million Wall Street IPO that Campus Crest Communities completed in October 2010.
Poskon describes underwriters as "the matchmakers of the financial world," pairing up investors with companies in need of capital. She also noted that investors' perceptions about a CEO--regarding both his management ability and his personal integrity--are critical. "Perception is reality for most investors," Poskon said.
If Ted Rollins withheld information about his personal history, it could present serious legal issues for his executive team. And Paula Poskon made it clear that she was unaware Rollins has a criminal record involving child abuse--and was the subject of another investigation where a child possibly was victimized.
Poskons's reaction? "Oh, my God, I was not aware of any of that. . . . It certainly sounds like I need to do a lot more digging."
The Ted Rollins story is dripping with irony. As CEO of Campus Crest Communities, Rollins leads a firm that builds, manages, and markets student housing to young people and their parents. But records show that in Rollins' personal life, young people have a way of winding up abused.
"That's what makes this so concerning," Poskon said.
Our conversation with Paula Poskon went on to take some curious twists and turns. More on that in upcoming posts.
So that's why Uncle Ted Rollins was SO perturbed with your exposing him for the monster that he is!
ReplyDeleteKeep up the good work Mr. Schnauzer.
Congrats, LS. You actually caught a Wall Street analyst showing some human concern and emotion. Not sure I've ever seen that before.
ReplyDeleteI kept expecting her to say something like, "Well, Campus Crest is a strong stock, producing high yield for our investors, so we really don't care that the CEO is a child abuser."
ReplyDeleteI thought much the same thing, Sharon. I also thought this woman isn't going to have much of a career on Wall Street if she continues to voice concern about her fellow humans. She'd better get with the program.
ReplyDeleteTLR:
ReplyDeleteThe interview isn't over. More to come.
Awesome.
ReplyDeleteRight Sharon, Anon 8:53am, bout her career in the bowels of the belly of the beast.
Hope Ms. Poskon's job is not in jeopardy because of this. Speaking truthfully about a morally bankrupt CEO probably is not the "with it" thing to do on Wall Street.
ReplyDeleteI've seen Paula Poskon on TV several times, plus mentions in the WSJ. Nice get on this interview, LS.
ReplyDeleteCan you prove, unequivocally , any of your reportings?
ReplyDeleteWhy have you backed off the family and the stepson specifically as you have ?? Just curious? Maybe no story?
ReplyDeleteJust curious?
Anon at 10:55--
ReplyDeleteYou seem to have the jobs of a reporter and prosecutor mixed up. A prosecutor's job is to prove a case beyond a reasonable doubt (unequivocally?) to a jury in a court of law. A reporter's job is to report on a story using the various tools at his disposal--public documents, published reports, interviews, observations, etc. I'm a reporter; I've never claimed to be a prosecutor. That being said, my posts that involve reportage, as opposed to strict opinion pieces, are supported by the tools noted above.
Anon at 11:05--
ReplyDeleteBacked off the family? What do you mean? What family are you talking about?