Thursday, February 20, 2020

Siemens Fires Back at Mayor

Siemens issued the following statement after  Jackson Mayor Chokwe Antar Lumumba announced a settlement of $90 million with the company.


 Siemens disagrees strongly with the Mayor’s characterization of the company and contract.  Among other shortcomings, this one-sided view failed to acknowledge broader water and sewer system issues.  Because the settlement is not yet finalized, Siemens cannot comment further.

Jackson filed motions to dismiss Socrates Garrett and U.S. Consolidated from the lawsuit today as well. 

30 comments:

Anonymous said...

So the mayor, who is an attorney, announced a settlement before it is actually final? #brilliant #kushlaw

Anonymous said...

YOU CANT MAKE THIS UP!

Anonymous said...

Good Lord.....freshman law school student would know better.

Slow n easy said...

Sounds like the Mayor Jr blew his was too soon

Cynical Sam said...

-Cart before the horse
-Counting chickens before they hatch
-The money is already $pent
-Baby chok's patron$ are standing by the trough
-Baby chok's mouth is writing checks that his brain can't cash
-Only in a third world state capital
-The presser was a dress rehearsal, right?

Anonymous said...

I know that top tier, cutting edge German technology works best when installed by 4th party illegal immigrants who have no clue what it is, contracted by the 3rd party grifter JPS “graduates” can’t read English, who were contracted by the 2nd party grifter who can’t read plans, who were hired by the primary grifter The City of Jackson

Anonymous said...

Probably stepped into their trap.

Anonymous said...

Oh vey

Anonymous said...

@5:51 PM - that pretty much sums it up.

Anonymous said...

Lawsuit was dismissed today. You don’t do that without an ironclad settlement. Methinks Siemens puffs.

Anonymous said...

What a joke this mayor is; if I were counsel for Siemens I'd take legal action against the mayor and the city. This stunt reveals a lot about the maturity and "leadership" style of our mayor, he just can't wait to spend that money to further his "legacy."

Congratulations Jackson, you got precisely what you voted for - another activist in the mayor's office.

Anonymous said...

Oh shit Antar Choked and if Siemens renigs on the settlement due to his self aggrandizing press conference, he will look like a buffoon!

Anonymous said...

Antar has always suffered from premature pontification.

Jackson Zoo and its $6,000,000 collection of animals has now be closed for 143 days. 99 days since the introduction of the Foundational Phase tripe.

Anonymous said...

I ain’t that smart, but I know not, to run my mouth until my money is in the bank, and I cashed the check and hid the majority of it. See I can’t even get the words right and them damn commas. But I ain’t stupid when it comes to money. Siemens, can you say Appeal.

Anonymous said...

@5:51

BINGO! What project has Socrates Garrett been involved in that wasn't a CF? None!

Anonymous said...

Hold my beer and watch this!

Anonymous said...

Caution: Municipal Broadband experiments failing nationwide

Anonymous said...

Please tell me he didn’t start talking s**t at a 5pm news conference on tv about a settlement that wasn’t finalized yet. PLEASE tell me he’s not that stupid.

Anonymous said...

So Priester was spouting out their settlement strategy without realizing the deal was not final? Has he or anyone seen the settlement?

Anonymous said...

Doesn’t the money go first to pay the bond holders?

Anonymous said...

Calm down, critics of the Mayor and Jackson. There is a binding settlement agreement that Siemens can't legally back out of and won't try to, even if the release itself is not yet signed. This is typically how a settlement works.

Siemens, a company that just got its ass busted, put out a cute, misleading statement to try to save face. It didn't work.

Anonymous said...

@9:34, nope....Obama turned how creditors are prioritized on its head, secured creditors are no longer secured and government officials can do pretty much whatever the hell they want. And if you bought Jackson municipal bonds you'e an idiot.

Anonymous said...

The real true winners here are www.lightfootlaw.com law firm. $30M+ for less than a year of work representing the city? So, CoJ is really only getting 2/3 of the contract price back and still has to pay off the original $90M bond plus interest?

Let's check my math, $90M (original note) - $60M (estimated settlement minus legal fees) = $30M (continued bond principal). And it anyone thinks that the $60M is actually going to lower the bond principal...I'll sell you some waterfront property in Arizona. Time for the Council to flex its muscle as the kids in the candy store have really big smiles on their faces today and need their Mom to say "no".

"Stupid is as stupid does"

Anonymous said...

Bonds due to Siemens are NOT in default. Doubt Jackson intends to redeem early. $147 million in bond payments remaining associated with Siemens deal.

Anonymous said...

A better headline would have been "Siemens Shoots Back." Disgusting but funny.

Anonymous said...

Good settlement for Jackson. However, some people just can't take good news well. If you look for a dark cloud all the time, you'll see one on a sunny day.

For Da Peepul.. said...

I recently was on the receiving end of a monetary settlement, decided in a legal setting, presided over by an attorney-Mediator with all parties present, in different rooms.

At the conclusion of this day-long exercise, I signed certain paperwork agreeing to the settlement; however, it was only after the passage of another week that I signed the final paperwork acknowledging my agreement to the settlement which also included my agreeing to confidentiality. Prior to this latter event where I signed final acknowledgements, I was under no binding legal requirement not to talk about the lawsuit or the settlement.

This is always the way settlements via mediation work. Chokwe may have screwed up, and often does, but running his mouth early-on was not actionable.

Credible Messager said...

So will I get a post card in the mail stating I will get my $1.12 share of the class action lawsuit?

John said...

I thought the lawsuit was for ... like ...$250 million. It doesn't seem like the attorneys for the city drove a very hard bargain. Of course, they stand to gain $30 million or so for six months work.

BTW, are there no attorneys in Jackson who could have handled this?

Anonymous said...

John, there is at least one Jackson attorney I know of on the team of lawyers representing the city. Big defendants like Siemens never pay huge sums of money in settlement unless the plaintiff attorneys are working the case hard, putting immense pressure on them, and they have terrible facts. This is a fantastic settlement given all the factors to consider.

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