Thursday, May 31, 2012
"Kevin Padrick, Joseph Stilwell and Oregon Trail Financial Corp." Kevin D. Padrick - Joseph Stilwell.
Kevin Padrick at Obsidian Finance hitched a ride with Joseph Stilwell and his group of proxy prize fighters lat in 2000 against a small, unsuspecting, bank in Baker, OR. Oregon Trail Financial Corp, known commercially as Pioneer Bank, was blindsided by Joseph Stilwell. Stilwell blew in and stated that “management was not maximizing shareholder value and proposed that Oregon Trail voluntarily place its nominees on the board of directors”. One of those nominees would be Kevin Padrick. Kevin Padrick seems to sneak himself in places where he sees DOLLAR SIGNS like the very cash rich Summit 1031 bankruptcy – $13.6 Million in cash, $10 Million Bond, $3 Million in E&O, approx $11.8 Million in real property and business assets. See all the DOLLAR SIGNS. It is my opinion Kevin Padrick start drooling when he sees he can get his hands on other people’s money. Anyway….
Oregon Trail rejected the proposal and the fight was on. And did it ever get nasty!! Stilwell announced its intention to solicit proxies to elect an alternate nominee. They needed someone from Oregon (residency requirements for all board members). All he needed was the shareholder list but Oregon Trail said “NO WAY!” Stilwell sued and convinced the court to make Oregon Trail turn its shareholder listing over plus pay for $10,000 of Stilwell’s legal expenses. What the heck? Is this a case of Pit Bull Magic?
The Stilwell group also filed lawsuits against two of the Oregon Trail directors – Chuck Rouse and Ed Elms. The charges: ONE was charged with violating the Oregon Trail’s residency requirements which the OTHER was charged with perjury based on his testimony in the first lawsuit. BOTH CASES WERE DISMISSED pretrial but legal defense of the directors cost the bank $200K. But never say die, Stilwell filed an appeal on one suit and re-filed the other suit in state court. Elms and Rouse sued back. Both sides requested injunctive relief from the courts.
US Magistrate Judge John Jelderks denied both requests. However, he stated that Oregon Trail would probably succeed on its claim at trial (violation of the anit-fraud proxy regulation). He also said that there was a strong possibility that the allegations against Rouse and Elms were not well founded. And finally, that there was a strong probability that Oregon Trail could show Stilwell’s conduct was part of a calculated attack upon the integrity of the incumbent directors and management. Whew…sounds like dirty pool, but that doesn’t stop a guy like Stilwell or his study – Kevin Padrick.
Stilwell used proxies to force the election of Kevin Padrick to the Oregon Trail board. This seems to be Kevin Padrick’s style – Go around and force whatever you want on unsuspecting victims. Why did Kevin Padrick play along with this attack on Oregon Trail? Stilwell gave Padrick 20,000 shares of stock options for his willingness to run for a seat on the board. Ahhh – there had to be DOLLAR SIGNS somewhere.
Per the La Grande Observer, Padrick said he intended to ask probing questions during board meetings, but said he wasn’t elected to the board to shake things up. Seems to me the words coming out of Padrick’s mouth never match his actions. Wonder what he told the Summit 1031 Creditors’ Committee. Do his actions in the case, match what he told them? Don’t know yet, but will sure find out.
So Kevin Padrick packed his lunchbox and flew to each Board meeting for the next 16 months. By March 12, 2002, Stilwell entered into a standstill agreement with Oregon Trail. Among other things, Oregon Trail agreed to drop all lawsuits and Stilwell even got Oregon Trail to pay for his expenses incurred in the proxy fight. Where do these guys learn this stuff? They teach this at law school? There was also an agreement to keep one Board position filled with a Stilwell “lieutenant” for 5 Years.
On statements filed with the SEC, Stilwell’s goal in these proxy fights is always “to profit from the appreciation in the market price of the shares of Common Stock and through the payments of dividends by asserting shareholder rights“. Seems to me that Stilwell’s goal was to force a sale of the bank from the beginning because that is exactly what happened. In February 2003, Oregon Trail announced the sale of the bank to FirstBank NW Corporation of Lewiston, Idaho. The sale price was $22/share and it was completed by November 2003.
Padrick took his share of the sale soon after the announcement. Per Kevin Padrick’s filing with the SEC, his option price was $14.05/share. He exercised his options on 3/10/03 and immediately sold them for $23.05/share. So he netted $180,000 in a little over a year. Not too bad for experience building!
Kevin Padrick could just hang onto Stilwell’s coattails and make a wad of money!! But that wasn’t to be.
A review of SEC filings indicate that Stilwell pretty much dumped Padrick for his future proxy contests. He nearly pulled him in on the Board of American Physicians Capital, Inc. in 2002, but that never happened. All in all, it appears that Stilwell triggered proxy squabbles in 16 other publicly traded companies, but left Kevin Padrick in the dust.
Since Kevin Padrick could not ride that gravy train, he tried to do his own profit ventures. You saw what happened with Longview Fibre in 2006. Padrick and Obsidian Finance weren’t quite able to seal that deal, but what the heck – it was their first try. Give them a chance, they were on a learning curve.
Luckily, Kevin Padrick ran into the naive and trusting Summit principals in late 2008. They needed help. They were told Kevin Padrick and Obsidian Finance could help. Yeah, Kevin Padrick and Obsidian Finance helped shove them off a cliff! They sold themselves to the Summit Principals, they took their money, they took their priviledge information, they went to the other side with that money and they got themselves a more lucrative job. They also know there is no Ponzi Scheme and No Embezzlement, but that won’t stop them from using the Media to make a play for it. It won’t be an $850 Million they looked to get from the flip ofthe Longview Fibre shares, but the Summit 1031 deal is easy pickings. The money is just sitting there and there doesn’t appear to be anyone at the wheel for the Creditors!!!
With now one watching out for the 1031 exchangers, what do you think Kevin Padrick & Obsidian Finance will do? I think there may have been some dealing and wheeling on this case too. In Obsidian’s billings detail, I found early conversations with Steve Hedburg of Perkins Coie. I wonder what was said at these meetings. Who knows, but shortly after Perkins Coie was pushing to replace Terry Vance CRO (person in charge of liquidating) with Kevin Padrick. Sounds familiar doesn’t it?
Next POST – WHO IS Protecting Summit 1031 Exchanger Monies??? Who is representing the BEST Interests of the Summit 1031 Exchangers??? Can you figure this one out?"
Source of Above Kevin Padrick, Joseph Stilwell and Oregon Trail Financial Post
Joseph Stillwell Sues Blogger: Daniel Szalkiewicz Anti-Freedom of Speech Attorney for Joseph Stillwell. Joseph Stilweel v. Esotericfreedom. Joe Stilwell - Joseph Stilwell
"From: "Daniel Szalkiewicz"
Subject: NOTICE PURSUANT TO 22 NYCRR SECTION 202.7 (F)
Date: Wed, 9 May 2012 19:32:31 -0400
NOTICE PURSUANT TO 22 NYCRR SECTION 202.7 (F)
May 9, 2012
Sent via Email (email@example.com)
Re: Joseph Stilwell v. Esotericfreedom et al.
I am writing in regard to the above-referenced matter to provide you with notice pursuant to 22 NYCRR Section 202.7 (f), to advise you that I will be appearing, on May 10, 2012, at the Putnam County Supreme Court, located at 20 County Center, Carmel, New York 10512 at approximately 10:00 A.M. tomorrow to file the attached Order to Show Cause.
Please be advised that in the event that you fail to appear, I will be requesting that the Court provide my clients with ex parte relief, including but not limited to, a temporary restraining order and take down order concerning the blogs detailed in the attached order to show cause.
Please feel free to contact me with any questions or concerns.
Very truly yours,
By: Daniel S. Szalkiewicz, Esq.
Encls: Order to Show Cause
Very Truly Yours,
Daniel S. Szalkiewicz, Esq."
Source of Daniel S. Szalkiewicz, Joseph Stilwell Post
Joseph Stilwell Sues a Blogger for Posting something he did not like? Was the Joseph Stilwell Posting True? Or was the Joseph Stilwell posting Defamation ?
Wednesday, May 30, 2012
Steve Bullock for Governor. Say No to Steve Bullock for Montana Governor. Following is an Open Letter to Montana Attorney General From Michael Spreadbury. I am a 4th Generation Montanan, I Say NO to Steve Bullock for Montana Governor. Steve Bullock for Governor; NO Way Steve Bullock for Governor. Steve Bullock for Governor.
Now Steve Bullock for Governor?
Why in the World VOTE for Steve Bullock for Governor when Steve Bullock has protected corruption in Montana as our Attorney General and Steve Bullock protects the University of Montana to violate constitutional rights and allow Law Students, to seemingly violate the law.
I Say No to Steve Bullock for Governor?
Below is a Letter from Michael Spreadbury to Steve Bullock, Montana Attorney General who is Steve Bullock for Governor, Say No to Steve Bullock for Governor?
Montana Attorney General
I got the strangest letter in the mail today from your prosecution services. Mr. Olson agreed with me that your office has a conflict of interest, and asks me to find an attorney. I think I found you. You were the guy shaking hands with George Corn. You were the guy on the phone threatening my house, and my job a FEMA. You're hired.
You carried out your threat with Angela Wetzsteon's unauthorized student practice.
Your office needs to assign a prosecutor for the crime of prosecuting law without a license.
Or should we tell all of the law students in Missoula that they are wasting their money at law school?
Did you waste you money at law school?
Does covering up felony crimes work for Montana to make it any better than it is?
A crime was committed (Perjury, Fraud, Impersonation, falsification, violation of rights). Isn't the Montana Attorney General supposed to prosecute crimes? Isn't the Attorney General supposed to protect consumers from unauthorized practice?
A call was made by your prosecution offices to the perpetrator to ask what their side of the story is. Nobody did that as I asked a librarian for help with sitting peacefully on public property. Don't we get federal monies in Montana? What are they for, to terrorize people?
You forgot all of the medical marijuana voters hitting the polls--Your governor plans are up in smoke.
PS Let me know how a private attorney will help me as this case has gone through the State Supreme Court, and the 9th circuit. Let me know how a private attorney can prosecute someone in Montana. While you are protecting crime, you ruined the reputation of a law student, and the integrity of your office.
Enjoy private practice Steve.
Michael Spreadbury "
Below is a Quote, a Post, from this Source
Montana residents were ready to listen to Eric Holder, the US Attorney General who told the crowd that day medical marijuana would be respected. Steve Bullock had a chip on his shoulder as he heard Holder speak---because he knew that The US Attorney General was lying about respecting Montana's citizen initiative from 2004 legalizing medical marijuana.
What Steve Bullock didn't know is that his bid for Governor in 2012 went up in smoke by going along with the federal power grab over our laws and rights in Montana.
Five weeks later, the DEA, FBI, state and local law enforcement agencies raided upwards of 28 sites throughout Montana.
As the state voters will overturn the Montana Legislature in 2011, 2012 will be a strong year for the large voting block FOR medical marijuana in the United States. Montana is no different.
As Steve Bullock knew of the raids in the spring of 2011 he did not count on the tide of voters who are upset with Steve Bullock not upholding Montana law. Steve Bullock saw the power in going along, instead of his sworn duty to uphold the law, no matter what the law said.
To criminalize marijuana after the people have accepted it as a medical savior for several painful conditions is political suicide. Steve Bullock, by not upholding our Montana law [he also did not respect election law, or unlawful practice, or other Montana victims: the elderly] he has committed political suicide in Montana and has no chance for Governor of Montana in 2012.
The current cruel, unjust policy perpetuated and enforced by the Bush Administration prevents Americans who suffer from debilitating illnesses from experiencing the relief of medicinal cannabis.
While substantial scientific and anecdotal evidence exists to validate marijuana’s usefulness in treating disease, a deluge of rhetoric from Washington claims that marijuana has no medicinal value.
The Controlled Substances Act of 1970 defines marijuana as a Schedule One narcotic, making it very difficult for American researchers to perform rigorous double-blind scientific studies on marijuana. Even without these difficulties, research has shown marijuana to be a safe and effective medicine for controlling nausea associated with cancer therapy, reducing the eye pressure for patients with glaucoma, and reducing muscle spasms caused by multiple sclerosis, para- and quadriplegia.
Internationally, scientists are undertaking massive studies to determine the healing powers of cannabis. In August 2003 the esteemed British medical journal The Lancet reported that the world’s largest study into the medical effects of cannabis have confirmed that the drug can reduce pain and improve the lives of people with multiple sclerosis. The three-year study was the first proper clinical appraisal of whether cannabis-derived drugs can help treat MS.
Harvard medical doctor Lester Grinspoon has said he would have loved to do a similar study, but has been held back by the law. On his website, www.rxmarijuana.com, and in his book The Forbidden Medicine, Grinspoon documents how marijuana relieves the pain of people enduring more than 110 different medical conditions like AIDS, Crohn’s Disease, glaucoma, cancer, and many more. Marijuana helps increase appetite, reduce blood pressure and intraocular pressure.
Whenever given the chance, the American public has voted to allow seriously ill people to relieve their pain with marijuana. Despite well-funded opposition from the federal government, citizens in nine states have cast ballots to legalize the use of medicinal marijuana. No state has ever rejected such a voter initiative.
Medical marijuana community health centers have opened up in the states, like California, only to be aggressively attacked and closed by federal law enforcement agents.
Physicians must have the right to prescribe this drug to their patients without the fear of the federal government revoking their licenses, and doctor-patient privacy must be protected. The Drug Enforcement Administration should not be practicing medicine.
Industrial hemp is one of the longest and strongest fibers in the plant kingdom, and it has had thousands of uses over the centuries. In need of alternative crops and aware of the growing market for industrial hemp—particularly for bio-composite products such as automobile parts, farmers in the United States are forced to watch from the sidelines while Canadian, French and Chinese farmers grow the crop and American manufacturers import it from them. Federal legislators, meanwhile, continue to ignore the issue of removing it from the DEA list. It is time to allow hemp agriculture, production and manufacturing in the United States.
Clemency for Non-Violent Drug Offenders: In 2004, Ralph Nader wrote President Bush urging that he grant clemency to 30,000 non-violent drug offenders. Nader’s letter highlighted the three decade long failed, and unjust, drug war. His call for clemency highlighted a similar request made by 400 clergy members to President Bill Clinton in 2000.!—end summary—>
The letter also highlighted the rapid expansion of the prison system in the United States which now houses more than 2.1 million people – one-quarter of the world’s prison population. Clemency for non-violent drug offenders would save more than $1 billion annually.
For too long we have let this injustice continue to grow unhindered. Taking action on clemency at the federal level will set an example for the states and begin the process of reversing this failed policy.”
To your own peril Steve Bullock did you allow the Federal Raid on Montana in 2011. The Montana voters will re-establish the citizen initiative, and keep you out of Political Office as Governor.
Steve Bullock is too dangerous with his power as Attorney General in Montana to allow him ultimate power over the Montana People as Governor in 2012. "
Wednesday, May 16, 2012
Susan Taylor Austin Bankruptcy
Susan Taylor Austin Bankruptcy Attorney.
Got a Tip Regarding Susan Taylor Austin Bankruptcy?