Friday, October 7, 2011

Interesting little tidbit about TCI

Read pages 50-57 of the Caddo lawsuit posted below. Very interest. So is TCI using shares of its sister company American Realty as collateral for loans? The two companies have the same officers as well. Just thinking out loud right now is all, nothing more, nothing less.



5 comments:

Anonymous said...

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'.

Anonymous said...

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.

Anonymous said...

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

Anonymous said...

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

Anonymous said...

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.



Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.