Tuesday, January 5, 2016

Malachi & Blackmon gouging Rolling Fork?

Our friends at Malachi Financial are having some problems in Rolling Fork. The Deer Creek Pilot reported:


Click on image to enlarge

Posted by Kingfish at 3:36 PM

10 comments:

Anonymous said...

Bond fees are second only to some firms' engineering fees as rip offs of taxpayers. Lawyers, consultants, underwriters etc.

January 5, 2016 at 4:53 PM
Anonymous said...

Blackmons ripping off taxpayers? That can't be right.

January 5, 2016 at 8:41 PM
Anonymous said...

Kingfish, you should check out recent bond fees paid for Porter Bingham by Canton Schools and JPS.

January 6, 2016 at 11:59 AM
Anonymous said...

I was just thinking it had been a while since bonds and fees were a topic.

If these are the Rolling Fork bonds in question then the coupon rate was 3.75 percent. I suppose you could get to "about three percent" if you thought the bonds would be selling at a substantial premium rather than a substantial discount. You would also need to assume that the fees were relatively low, or that the substantial premium would be even larger to cover the hefty vigouris... err ski... errr fees charged. But, I'm not an expert in things like this like Malachi and friends, so what do I know?

January 6, 2016 at 2:59 PM
Burke said...

I have not read all the comments generated by K. Stokes' "rocks, bricks and bottles" tirade, but this post made me think about Stokes' reference to the "black establishment." (Others may have commented on the phrase.)

Bond issues are often happy hunting grounds for financial professionals, but not tiny bond issues like this one. This is financial rape. So, are we seeing the "black establishment" at work? Could we please find a more benign black establishment?

Malachi Financial is Airwave in a suit and tie.

January 6, 2016 at 4:02 PM
Anonymous said...

Malachi Financial ripped the City of Jackson and Hinds County for years. Thank the Good Lord that once the Hinds County Board changed from being under the leadership of Lt. Graham they got rid of this scheming, stealing bunch of scam artists. If someone would go to the trouble to look into their deals with Jackson they would find similar situations as what Rolling Fork encountered - multiplied several times over.

Hope the City sues them and then goes after criminal penalties as well - put these crooks under the jail.

January 6, 2016 at 4:21 PM
Anonymous said...

Put Natchez convention center bonds and swap into the search engine...

http://www.natchezdemocrat.com/2006/05/27/bond-refinancing-not-accurate/

http://www.natchezdemocrat.com/2012/03/25/future-of-malachi-swap-unknown/

http://www.natchezdemocrat.com/2014/04/09/natchez-convention-center-expansion-sought/

January 6, 2016 at 6:12 PM
Anonymous said...

Is Malachi working with EDT/MS Developers on their hotel response to the JRA? I heard he is being used in a financial capacity for their development team. I think they are all from Atlanta, GA. It would be shameful if Yarber is a party to this. But I would not be surprised.

January 7, 2016 at 3:39 PM
Anonymous said...

If true, this would be only ONE of the many shameful things that Yarber is a party to - but because of Malachi's history of passing around part of those big fees that they get, wouldn't be at all surprised to see them involved in the deal.

January 7, 2016 at 4:32 PM
Lenitto Juarez said...

So much for the "Christian principles of Malachi. A religious man should not be selling anything but salvation.

January 13, 2016 at 12:36 PM

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