Posted on 10/06/2007 3:23:48 PM PDT by Republican Wildcat
For Immediate Release
October 6, 2007 Contact: Jason Keller
502-607-8683
Beshear’s Unethical Conduct Destroyed Kentucky Central
Secret Report Reveals, Beshear and Firm’s Excuses Don’t Add Up
“Steve Beshear’s ever changing story continues as he and his former firm scramble to cover up his unethical activity,” said Jason Keller, Communications Director for Governor Fletcher’s campaign.
Keller continued, “The truth is, and the Porter, Wright report shows, that Steve Beshear’s actions led to the collapse of Kentucky Central and forced it into liquidation. And in the process he and his firm made $21 million at the expense of thousands of Kentuckians.”
“One of the most important facts to remember is that during this time, in 1993, Kentucky Central was in rehabilitation. The effort should have been to save the company. It did not go into liquidation until August 18, 1994. Steve Beshear now claims it was his job to liquidate, when in fact it was his job to save the company.
“Steve Beshear’s firm allowed $15 million to be taken out of Kentucky Central, and Beshear knew this activity was underway (factual conclusion 19, page 70 of Porter, Wright report), at Kentucky Central’s most vulnerable time. Their claims that nothing was improper ring hollow.
“The Bank of Louisville paid Kentucky Central $27 million in 2002 and Stites and Harbison claim that made them whole. That is like taking the bottom card of a house of cards and watching it fall, then ten years later saying “here is your card back.” As the report says on page 62 that by Steve Beshear and his firm allowing the $15 million to be taken from Kentucky Central “the alteration in the positions of these parties was significant, and patently detrimental to the Rehabilitator’s ability to protect, reform, and revitalize Kentucky Central for the benefit of all creditors, shareholders and policy holders.
“Steve Beshear has consistently lied to Kentuckians about his involvement and knowledge of the circumstances surrounding this report. He gambled that this report would remain secret forever, and his roll of the dice came up snake eyes.
“Initially, Steve Beshear said he was not aware of the secret investigation. However, on the attached letter (letter attached to this e-mail) that specifically mentions Porter, Wright and the money paid for the investigation, Steve Beshear is mentioned and was sent a copy. Steve Beshear knew about the investigation and lied about it during this campaign.
“Steve Beshear claimed he did not recall being removed from the Kentucky Central case. When it was proven that he was removed, he remembered it was only for a few days, after not recalling being removed. This is contradicted by Don Stephen’s comments that Beshear was removed until he (Stephens) was replaced.
“Steve Beshear and his firm say they had no chance to respond to this investigation. In fact they did. When they were told to pay over $100,000 for an investigation into their conduct, there was plenty of opportunity to decline to pay and respond to all charges. Instead, they paid the money to make it go away,” concluded Keller.
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Here's some of the ads currently running:
http://www.youtube.com/watch?v=cTSIiV3_9U0
http://www.youtube.com/watch?v=TqmpB5D-VEo
Is there background to this press release? None of this rings a bells, at least not immediately.
It is probably too late for KY people to understand the truth about Beshear. They will vote for him any way because they dislike Fletcher.
See, there’s something about a Kentuckian: you can never convince him he is wrong with his initial choice. He will remain with his first choice no matter what, for he hates so much to be proved wrong. In that Fletcher is perceived as a failure, KY people know nothing else but to support Beshear, and they will.
oh....ya know Louisville/Lexington et al (Toilet) Papers, shall (very likely) remain silent these stories...it doesn't "fit" their prime story line.
Liberals good/Conservatives bad....any/every_thing from Ernie is suspect....any lie from his foe is taken as truth with no searching for truthfulness.
The Fletcher interlude in Frankfort reminds me of what Eleanor Roosevelt Roosevelt said of the New Deal: “It gave us time to think. “Well, it gives KY Democrats time to know they want their governorship back, and the Republicans are too disorganized to prevent that from happening.
...I seem to rem: An Lexington engineering Co. (sept.-oct. 2003) said they had alot “invested” in the Patton Ad. over 8 Years.....about 160$ “large”.....you can bet “Ernie” never ever saw that kind of $$$$$ (Ky. for Better Transportation)
....”Ky. for Better Transportation” lobbying group in Frankfort.
I live in Kentucky and I vote for NO Democraps. Period!
KY Ping!
Absolutely nothing.
Neither candidate is worth a bucket of spit...
Unfortunately...although we still need to vote in the down ticket races.
Being a democrat, Beshear is worth less than a bucket of spit. If you don’t vote for Fletcher, we get another Democrat governor in a long line of Democratic governors and we can remain one of the poorest and most uneducated states in the nation. Thanks a lot.
I'm not sure that we don't get the same thing if Fletcher is re-elected. He's not exactly been "Mr. Conservative Republican" these past four years.
I hope there is more to this story... cause, this will barely make a dent. Was their criminality? Why wasn’t it charged? Money was “taken out” ?? For what? Was it legitimate expenses? Taken out by who, for what?
Beshear is already running ads now call this, “Like blaming the sheriff for the bank robbery”.
And, of course.... the regular press is ignoring the story.. NOTHING on TV, nothing in the C-J. Go figure....
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