Thursday, October 27, 2016

Napa Confidential: Another influence play

... with more to come:                                                
                            "One of the boys"
                                               The Private I

      From the citizen investigator whose views are her own:

    One of the "boys" seeking influence in St. Helena has made it clear that he has hired former city personnel, appeared with a Hall family member and introduced a former planner as part of the Bald Mountain development team (Four Seasons). One of the "boys" indeed, he has showed a slide of the dozens upon dozens of charitable causes in St. Helena where Bald Mountain has donated $2,500, $5,000 or more, and pointed out that he is (now) a resident of St. Helena as are the members of his inner circle.
    That Saudi Prince [see previous posts] who controls Four Seasons Hotels & Resorts would be proud. He was caught paying $400 million in bribes to the president of South Korea in 2006, and $400 million in bribes to the Governor of Shanghai, both of whom stepped down and were sent off to prison, as reported in The Wall Street Journal.
    Keep in mind a simple picture -- that of a balance sheet which the City hasn't provided in years, but which should be available to the public by December or January at the latest (the audit began September 1). That picture is: The left side of the balance sheet shows all of the assets. The right side of the balance sheet shows all of the owners of those assets.  Those owners on the right side provide financing (liabilities), or they provide equity (capital). So never overlook "who holds the debt." So many businesses and homeowners had horrific experiences because of "who holds the debt" in "shared ownership" of assets as our economy lapsed in 2008. 
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