Posted on 09/05/2002 8:20:53 AM PDT by Ragtime Cowgirl
Edited on 05/07/2004 6:06:45 PM PDT by Jim Robinson. [history]
It does me. It says volumes about McBride...the company he keeps. What is McAuliffe's father-in-law's name, FV? Was he involved in McAuliffe's Florida real estate - Union pension rip off scheme?
I think McLawyer is having problems with getting out the hispanic vote for him. Did I ping you my thread on that? If not, it's on my profile page. Former Clearwater Mayor in McLawyer campaign. There's the pattern - using mayors or former mayors to get out the hispanic vote. Bingo? PhiKap. I think I've got it... again... LOL
Ick. (^: Thanks for the info on McAuliffe's father-in-law, Schwann/Swann. We need a press posse of our own to bypass the mainstream media and their little socialist, un-American worker bees from NOW, UN, GLAAD, PFAW and the Sierra Club. "Will of the people" my clymer.
With politicans like this, who needs al Caeda?
Interestingly, in the St. Pete Times today, the Bush/Brogan campaign finally drew a comparison between Algor and McBride. And, finally, the St. Pete Times brought up that in the year 2000 after years of filing jointly, Mr. McBride and his wife Ms. Sink filed separate tax returns. So, he looks like a poor every man and she has millions of dollars. Ms. Sink states that it is "not applicable." Yeah, right. That breaks campaign disclosure laws - you'd think a woman, former bank executive, married to an attorney-candidate would know that.
Such funds are regulated under the Taft-Hartley Act, and contributions come from both unionized electrical workers and from their employers, electrical contractors.
The fund has co-chairmen-one from the union and one from management-and both labor and management employees are beneficiaries. The IBEW fund currently has $6 billion invested in stocks, bonds, and real estate.
In the 1991 deal that McAuliffe packaged and brought to the fund, the fund put up $38.7 million in cash for five apartment complexes and a rundown shopping center near St. Petersburg. McAuliffe got a 50% equity stake, even though the fund put up all the money.
No investment adviser was involved, says John M. Grau, co-chairman of the fund and executive vice-president of the National Electrical Contractors Assn. because McAuliffe's plan seemed like a slam-dunk: The pension plan was acquiring the properties at $10 million below their appraised price.
Why such a deal? Because the seller was the Resolution Trust Corp.,which had taken control of the properties from Orlando-based American Pioneer Savings Bank.
The RTC had rescued the S&L and placed it in receivership a year earlier-costing taxpayers $500 million. American Pioneer had been owned by Richard A. Swann, father of Dorothy Swann, McAuliffe's wife.
The elder Swann once presided over a $2 billion commercial empire. But it crashed when regulators declared the S&L insolvent. Swann filed for personal bankruptcy on Nov. 21, 1990.
Since then, Swann says, he acts as McAuliffe's attorney in business ventures and is paid fees for managing McAuliffe companies. McAuliffe says Swann is not a partner but is paid to "help with the management." Three such deals involved the IBEW and its pension funds.
McAuliffe's primary IBEW contact was Jack F. Moore, now retired as International Secretary of the union and co-chairman of the jointly managed pension fund.
Moore and McAuliffe, then a young Washington lawyer, have been close since 1988, when both worked to help mutual friend and House Democratic Leader Richard A. Gephardt's run for the Democratic Presidential nomination.
In June, 1992, the IBEW pension fund did another deal with McAuliffe. It loaned him $5.8 million to buy 284 acres of Country Run, an Orlando subdivision of mostly unimproved lots. It, too, had formerly belonged to Swann's S&L.. McAuliffe's intention was to improve the lots and sell them or develop the property himself.
....McAuliffe and father-in-law Richard Swann formed American Capital Management to buy Florida properties that the RTC took over after putting Swann's S&L into receivership. Some of the properties were acquired using union pension money.
Checking out the H & K web site, you can click on the D.C. office and find out what kind of law they specialize in. How stupid to tell all on your firm web site? That's the ego of a BIG LAW FIRM and the bragging but if I had a law firm, I wouldn't tell all on my firm web site. HOW DUMB IS THAT.
Holland & Knight's web site - another great resource to check out McLawyer.
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