Jackson Jambalaya

NYSE:ARL. Another soon-to-be penny stock with declining revenues and increasing losses. No doubt Councilman Help Me Help You has this one rated as a 'Strong Buy'.

Now why would an ARL insider dump 920,507 shares of TCI in Jan 2011 @ 6.06 per if the future for TCI is looking so damn bright? Hmmm.

What about this out of Dallas?

http://blogs.dallasobserver.com/unfairpark/2010/09/four_years_later_a_jury_finds.php

Four Years Later, Jury Finds TCI West End Guilty of Fraud For Razing MKT Freight Station
By Robert Wilonsky Wed., Sep. 1 2010 at 12:22 PM


Note: Transcontinental Realty Investors 10-K filed 3/31/2008 shows TCI- West End Inc. to be a 100% owned subsidiary.

On Monday I noted that city officials were anxiously awaiting a verdict in the 4-year-old case of City of Dallas v. TCI West End Inc., which concerned the demolition of the Missouri-Kansas-Texas Freight Station in the West End in '06. The trial started two weeks ago, and on Friday, city attorneys, two state assistant attorneys general repping the Texas Historical Commission and lawyers for TCI West End Inc. presented their closing arguments. One Friend of Unfair Park who attended the climactic showdown said all parties did a bang-up job, so much so it could have gone either way -- especially since the jury had about 30 questions to consider before rendering its verdict.

But the verdict's in: This morning a Dallas jury found TCI West End Inc. guilty of fraud -- that is, obtaining a demolition permit not for the historically protected building at Houston and Ross, but a "500 square-foot guard shack," and then leaving blank the box signifying their intentions to raze a historic building. The jury awarded the city $750,619 in civil penalties for not going through the Landmark Commission to get the demolition permit, a violation of the city historic preservation ordinance. The state gets $1.5 million -- $1 mil in exemplary damaged for the fraudulent conduct of obtaining the permit by fraud, and $500,000 in actual damages.

Bonus: Compare corporate officers of TCI West End Inc. and other entities previously mentioned on this blog.

http://www.nvannualreport.com/entities-DPC-TCI-WEST-END-INC.aspx

TCI WEST END, INC.


This information is current as of September 19, 2011.
President Daniel J Moos
Secretary Louis J Corna
Treasurer Gene S Bertcher
Director Gene S Bertcher
Director Daniel J Moos

All addresses are
1800 Valley View Lane, Suite 300
Dallas, TX 75234

This is the City press release concerning the jury verdict. Not sure if the verdict has been appealed, or if the plaintiffs have managed to collect any damages.

Update at 4:28 p.m.: On the other side is a press release we just received from the Dallas City Attorney's Office concerning today's verdict. It also contains a comment from Mayor Tom Leppert: "The jury's verdict reaffirms the importance of the City's historic structures and the established processes that must be respected."

The City and Texas Historical Commission obtain important verdict; Jury awards damages for unlawful demolition of historic structure

The City of Dallas and the Texas Historical Commission today obtained a $2.25 million verdict against the former owner of the historic Missouri-Kansas-Texas (MKT) Freight Station for its unlawful demolition. "The jury's verdict reaffirms the importance of the City's historic structures and the established processes that must be respected," said Mayor Tom Leppert.

The building was located in downtown Dallas in the West End, which is both a city historic district and a district listed in the National Register of Historic Places. The 30,000 square foot brick building was built around 1925 and was a key part of Dallas' emergence as a rail center. Testimony at trial showed that a consultant told Transcontinental Realty Investors, Inc. that it needed the Dallas Landmark Commission's approval to demolish the building. Thereafter Transcontinental set up a single-asset subsidiary, TCI West End, Inc., and transferred the property to it in February 2006. TCI soon gave the City an application for a demolition permit, describing the building as a 500 square foot structure and not checking the box to indicate it was a landmark. A city plans examiner relied on the application when issuing the permit.

When city officials discovered the permit had been issued, they immediately called two demolition contractors hired by TCI and verbally revoked the permit. However, TCI found another contractor, who demolished the building in April 2006 without Landmark Commission approval or a proper demolition permit.

The City sued TCI in May 2006. The Texas Historical Commission, represented by the Attorney General's Office, joined the lawsuit a few months later. At trial, the City and the Commission sought actual damages, exemplary damages, and civil penalties for the unlawful demolition. After a two-week trial before State District Judge Jim Jordan, the jury awarded the Commission $500,000 in actual damages and $1 million in exemplary damages. The jury also awarded the City $750,000 in civil penalties. In addition, the jury found that TCI obtained the demolition permit through fraud. City Councilmember Angela Hunt was pleased with the verdict: "Hopefully the jury's verdict will discourage others from unlawfully demolishing historic landmarks."

The City and the Commission will soon ask the judge to sign a judgment in their favor based on the jury's verdict. City Councilmember Pauline Medrano appreciated the State of Texas' help with this case: "The City of Dallas is grateful that the Texas Historical Commission and the Attorney General's Office recognized that this unlawful demolition of a historic treasure could not be tolerated. The State's help has been invaluable in this case."

Link to above:
http://blogs.dallasobserver.com/unfairpark/2010/09/four_years_later_a_jury_finds.php

This is a Gene Phillip's Company, TCI, that is managed by Pillar Income Asset Management aka Prime Income Asset Management aka Basic Capital Asset Management..

Gene Phillip's son Brad Phillips owns Liberty Banker's Life Insurance Company based out of Dallas and in the same Building as Pillar Income Asset Management.

Louis Corna works for both Gene Phillip's privately held companies, Pillar / Prime / Basic Capital...

Louis Corna also works for Brad Phillips

Louis Corna structures all these transactions for Gene Phillips and Brad Phillips.

Properties flip from Gene's Companies over to Brad's companies before Bankruptcies are filed to protect assets.

Louis Corna w/ Pillar structures their bankruptcy filings. This can be confirmed using the Corelogic Data base linked to the MLS system to confirm this fact of property flips.

Pillar Income Asset Management performs in house mortgage brokering services using the funds they obtain from commercial lenders using collateral from various real estate holdings then Pillar creates Seller Financing loans to their own LLC, holding companies, trusts, escrows.. All this can be confirmed by reading their SEC reports for TCI ARL and IOT then tracing the money and all these loans to themselves and looking up all their Bankruptcies for all those in house loans to their LLC and newly formed companies where in house employees are named as the owners of all these companies and partnerships / LLCs... This is all traceable and easy to find.