Monday, November 14, 2005

A Witness

I saw one comment where someone seemed to want to pint out what Scott was losing. I thought I would point out that Scott was losing nothing. Scott is a man of faith who has greater faith than I because he is going through this tough trial through all his fears and phobias and I am confident because I’ve been down this road before. His marriage was to a faithless woman who knew nothing of God’s ways. She was an anchor and her loss will mean smooth sailing in love and life for Scott in the future. His kids though dislodged and in turmoil, will learn that God is in control and that they have a courageous man of God for a father. This is another win in a lifetime. His house is the funny one. World Savings who was one of the big mouths in Alsup’s court was dumb enough to be one of the victims in our indictment using Scott’s house. Once we expose their crimes they will be buying Scott any house he desires and have their other problems of lying to a court and having an innocent man jailed. Hello checkbook! Scott is one of the best fiduciaries anyone can have. He lived what he spoke of, is honest, and is willing to sacrifice for the good of others. Anyone who loses Scott has their life diminished. Scott is a blessing wherever he sets his foot.

21 comments:

They_and_or_Them said...

TCOB247
After reading your last comment one can see that you think everyone in jail belongs there.
Is this really your view?
Guilty until proven otherwise?
Even if Kurt is found guilty in the next 100 courts and condemned to die by lethal injection. Saying someone is guilty does not change TRUTH.
The truth is, he is still in jail, but Nelson Mandella was kept in jail for 20+ years, did that meke him guilty of anything?
If an unjust law is broken, a crime has been committed and guilt can be the end result but does it change the truth of the injustice?
I'm sure that we all now await your remarks but smart as they may be, they nor you will change the truth nor the injustices committed daily by our current rulers/masters.

tcob247 said...

No it is not my view

whataboutjere said...

tcob247, then why are you here? you have stated that you make a nice 6 figure income. Why have you not paid your mortgage off with that big salary as opposed to letting what Kurt did come to be?

Clueless Fudd said...

whataboutjere said...
tcob247, then why are you here? you have stated that you make a nice 6 figure income. Why have you not paid your mortgage off with that big salary as opposed to letting what Kurt did come to be?

GREED! That's easy.

tcob247 said...

What Kurt said he could do, did not "come to be"

Why are you here?

whataboutjere said...

I'm here because I still have a vested interest, unlike you whose only purpose is to troll this blog. You got back what you wanted from Kurt, now go work on paying your mortgage off with that six figure income.

ricco7777 said...

"meeting the next dishonorable jackass in a black robe"
Boy I sure do like that analogy!
Kurt you've got my confidence!

tcob247 said...

what is your vested interest

OK, I will do whatever you say commander. You are my leader.
I will follow you

Peanut Gallery said...

TCOB and others. He is a story about a man who had a revolutionary idea that certain factions of the government as well as competitors in the industry did not like. He also chose to take on an industry that was close knit and in bed with the govt. He was also falsly accused of fraud and railroaded by the powers of the era. Hold your judgement until the end.


Tucker was born in Michigan, near Huron, and is remembered for his charming personality. He repaired an old car and sold it at age 16, combining his charm with a love of automobiles. He later joined the Lincoln Park police department to get access to the high-performance automobiles they used. His mother convinced him to seek employment on the Ford assembly line in Dearborn, but Tucker quickly returned to his more exciting job as a police officer. He was demoted for installing a heater in the dashboard of his car, and quit for good. Tucker's next career was as a car salesman. He was successful in selling cars at a Michigan dealership and soon became the manager of a luxury car dealership in Memphis, Tennessee.

[edit]
Entrepreneur
With this new financial success, Tucker began an annual journey to the Indianapolis 500. His enthusiasm for automobiles again getting the better of him, Tucker convinced Harry Miller, maker of more Indy 500-winning engines than any other in those years, to join him in building an Indy car. Tucker intrigued Edsel Ford to take on the design, which used a modified Ford V8, as a Ford entrant at the race. The time to develop and test the car was insufficient, however, and the steering boxes on all entrants overheated and locked up, causing them to drop out of the race. The design was later perfected by privateers, with examples running at Indy through 1948, but Tucker's days as a race car builder were over.

Tucker moved back to Michigan intending to start his own auto company. He soon began designing a narrow-wheelbase armored combat car for the Dutch government. The car could reach 80 mph (130 km/h), far in excess of the design specifications. Although the Nazis invaded before the cars could be built, the highly-mobile gun turret design brought the interest of the U.S. Navy. The Tucker Turret was soon in production — it was used in PT boats, landing craft, and B-17 and B-29 bombers. During World War II, Tucker managed one of the shipbuilders for the war effort.

[edit]
The Tucker Torpedo
Main article: Tucker Torpedo
Automobile production resumed immediately after the war, but the designs were old fashioned. Many entrepreneurs, including Henry Kaiser and Preston Tucker, saw an opportunity to enter the market. The United States government was auctioning off surplus factories and giving preference to upstarts rather than the large corporations that had benefitted from war production.

Tucker found a surplus factory in Chicago, Illinois — the Chicago Dodge plant. It was said to be the largest factory in the world under one roof. During the war, 1,000 B-29 bomber engines were produced each month by more than 30,000 employees. The plant was modern, with air conditioning, and well equipped, with an on-site forge, foundry, tool shop, assembly line, railroad siding, power house, water reservoir, cafeteria, and 13,000-spot parking lot. Tucker beat GM, Ford, and others to win the right to purchase the factory. But shortly after moving in, Lustron, a manufacturer of prefab homes, was given the rights to the plant. Tucker lobbied the politicians and soon re-secured his factory.

Studebaker was first with an all-new post-war model. But Tucker took a different tack, designing a safety car with innovative features and modern styling. His specifications called for a rear engine like Porsche, disc brakes, fuel injection, the location of all instruments on the steering wheel, and a padded dashboard.

Famed stylist, Alex Tremulis, previously of Auburn/Cord/Duesenberg, was hired on December 24, 1946 and given just six days to finalize the design. On December 31, 1946, Tucker approved the design, dubbed the Tucker Torpedo. He had also hired another firm to create an alternate body, but only the horizontal taillight bar from that model appeared on the final car.

The mechanical components were innovative. The perimeter frame surrounded the vehicle for crash protection. The steering box was behind the front axle to protect the driver in a front-end accident. But numerous Tucker innovations were dropped. A four-wheel independent suspension, magnesium wheels, disc brakes, and a direct-drive torque converter transmission were all left on the drawing board. A novel horizontally-opposed 6 cylinder engine continued in development, but was eventually replaced by a Franklin helicopter engine, with Tucker purchasing that company to secure the engine source.

The world premiere of the much-hyped car was set for July 17, 1947. Over 3,000 people showed up for lunch, a train tour of the plant, and the unveiling in the main auditorium. The unveiling looked doomed, however, as last-minute problems with the car cropped up. The suspension snapped (or was cut), and the car would not move. Tucker ad-libbed on stage for two hours while emergency repairs were carried out. It was finally pushed onto a turntable by hand, and the curtain was lifted to thunderous applause. Tucker was joined on stage by his family, with his daughter smashing a champagne bottle on the "Cyclops Eye" and soaking her father. Also on stage were Tucker's engineers, still covered in grease from the last-minute repairs.

A failed element of the prototypes was the Cord transmission, designed for front-engine/front wheel drive use. It could not handle the power of the Franklin engine, so a new design was needed. The creator of the Buick Dynaflow transmission was called in, designing a special "Tuckermatic" transmission with only 27 parts, about 90 less than normal. This transmission was to cause more trouble, however, as the initial prototype lacked a reverse gear. A skeptical press reported that the car could not go backward, hurting its reputation.

[edit]
Collapse
Although it was well-funded, the company decided to raise more money in order to secure its future and credibility. $17,000,000 was raised in a stock issue, one of the first speculative IPOs. Another money maker was the Tucker Accessories Program. Future buyers could buy accessories, like seat covers, the radio, and luggage, before their car was built. This brought an additional $2,000,000 into the company.

With the final design in place, Preston Tucker took the pre-production cars on the road to show them in towns across the country. The car was an instant success, with crowds gathering wherever they stopped. One report says that Tucker was pulled over by a police officer intent on getting a better look at the car.

Not all was well with the company, however. The Accessories Program raised the attention of the U.S. Securities and Exchange Commission (SEC), who investigated the practice to determine if it was fradulent. They asked for the corporation's books and records, but agreed to wait while the board met. The investigation was not secret for long, however, as popular radio commentator Drew Pearson reported that it would "blow the company sky-high". The broadcast caused the stock to drop from $5 to $2, causing creditors and suppliers to demand their money. Tucker took several cars to Pearson's office to support his contention that development was continuing, but the radio man refused to apologize.

All activity at the plant halted while the SEC looked over its books, with 1,600 workers laid off. Rumors spread across the country, some calling the company a fraud, while others saw a conspiracy to stifle innovation in the automobile industry. In the end, the SEC report, hundreds of pages in draft form, was never issued.

Press coverage was equally divided. The Detroit News ran a headline on the "Gigantic Fraud" and called the car "a monstrosity". It said that a dozen Tucker executives would be indicted. Colliers Magazine blasted Preston Tucker, accusing him of "living it up" on the proceeds of the stock issue. Their photos of Tucker at his apartment damaged his reputation, but were deceiving. His lavish living space was actually a bargain — it was built for dwarfs! On the other side of the coin, Mechanix Illustrated called the Tucker Torpedo "Dynamite" and the "most amazing" car they had tested.

[edit]
Aftermath
To counteract the bad press, Tucker again took the cars on the road. He scheduled a two-week public test at the Indianapolis Motor Speedway with a few of the 37 cars that had been built. One car was rolled at 100 mph (160 km/h), and the driver walked away with just bruises. Public perception was changing from outrage at Tucker's fraud to anger at the press and the government.

In the Fall of 1948, Tucker had $8,000,000 in the bank, but the plant was still closed. The US Attourney announced a Grand Jury investigation. Tucker again courted press attention, arriving at the courthouse in a blue Tucker Torpedo.

On June 10, 1949, Tucker and three others were officially indicted for fraud. The trial began in October of that year, with the government contending that Tucker never intended to produce a car. After the Christmas recess, the trial turned in Tucker's favor. It went to the jury on January 22, 1950, and Tucker and his men were acquitted on all charges just 17 hours later. But the company was destroyed, with everything was sold off. Only Franklin Motors survived, but Tucker was out.

Preston Tucker's reputation rebounded after the acquittal. Investors from Brazil even approached him about building a sports car, the "Carioca". But he died from cancer before the project saw fruition. Ironically, Otto Kerner, the US Attorney who had aggressively investigated Tucker for fraud, became the first Federal appellate judge in history to be jailed. His crime was stock fraud.

Retrieved from "http://en.wikipedia.org/wiki/Preston_Tucker"

mogel said...

Federal Reserve Statistical Release

Discontinuance of M3

On March 23, 2006, the Board of Governors of the Federal
Reserve System will cease publication of the M3 monetary
aggregate. The Board will also cease publishing the
following components: large-denomination time deposits,
repurchase agreements (RPs), and Eurodollars. The Board
will continue to publish institutional money market
mutual funds as a memorandum item in this release.

Measures of large-denomination time deposits will
continue to be published by the Board in the Flow of
Funds Accounts (Z.1 release) on a quarterly basis and
in the H.8 release on a weekly basis (for commercial banks).
http://www.federalreserve.gov/releases/h6/discm3.htm

*** P-scope NOTE: M3 is the estimate of the total money
supply. The plan to stop reporting this number signals the
US is entering a stage of hyper inflation, which will be
hidden from the public as long as possible. Desperate to
hang onto a GOP Congress, expect Bush to flood the nation
with money next year to make the economy look good.

Gforce said...

Kurt---Your faith is strong. You know Truth--keep it ever before you--keep your mind renewed. EVERYTHING that can be shaken is being shaken. God is on the move. These are the best of times(for the righteous) and the worst of times(for the wicked). The fight intensifies as the wicked are backed up to and falling over a cliff. This is their fight for survival and when they think they are just about to win, they fall flat and lose bigtime(alquida is even running out of suicide bombers--they are using family of high ranking operatives--the CIA and the democrats are trying to impeach Bush-whatever). God is leaving nothing untouched. Everything that has been sown, will produce a harvest in this year 2005, whether it is for good or evil. God is purging everything and is raising up men and women to lead this nation into its finest hour!!

Gforce said...

Mogul---could this finally be the end of the central banking system in the USA? With truth being impossible to conceal, I believe 2006 mid-term elections will force the issue and good times are ahead!!----God is huge and things are moving fast!

affera--ab233b said...

A Witness

Hey whistleblower, you have a pretty good blog here! I'm definitely going to bookmark you!

I have a collectors knives Fantasy Knives. It pretty much covers
collectors knives related stuff.

Come and check out collectors knives if you get time, Nice going !

WillToFight said...

Good post Peanut;

there is a frequency in things like that happen to companys that want to help folks instead of flease them. THe opposing bankers and Ceo's of competing Co's call on there government seedsuckers to do their dirty work to destroy someones image in public by calling it fraud.

Oh the irony!

Hey Mogul

I'll bet Neodomenes or Elmer Fudd do not see the fraud in the FED holding back information that is detrimental to the nations economic health.

What's you take Neodomenes on Mogels post about the Fraudulent Fed?

BetUdidn'tno said...

Goverment Gone Sour

Andersen was convicted in 2002 on a charge of witness tampering, after Andersen officials urged employees to comply with the firm's document retention policy, which led to the shredding of some documents connected to the firm's audits of Enron.

The instructions indicated that the jury "need not find any consciousness of wrongdoing in order to convict," Chief Justice William Rehnquist wrote for a unanimous court, adding that it was "striking how little culpability the instructions required".

The ruling stressed that withholding information from the government was not itself a crime. "Under ordinary circumstances, it is not wrongful for a manager to instruct his employees to comply with a valid document retention policy, even though the policy, in part, is created to keep certain information from others, including the government," he wrote.

The decision comes too late to help Andersen, which now has only 200 employees, mostly lawyers and administrators.

But Stephanie Martz of the white collar crime project of the National Association of Criminal Defence Laywers said it could help other white collar defendants: "The point this opinion makes is that is perfectly legal under the adversarial system to withhold information under many circumstances."

Robin Conrad of the US Chamber of Commerce said the case highlighted the consequences of overly aggressive fraud prosecutions "This is an instance where the collateral damage of over-aggressive enforcement takes its toll on the average citizen," she said, noting that thousands of people lost their jobs after Andersen's conviction.



US court overturns Arthur Andersen conviction



U. S. Supreme Court limits power to convict the innocent



Reversal of fortune



Racism and the Administration of Justice



Penal system seen as anti-black



More FBI Misconduct Alleged



Justice is not blind



Guilty when charged



For justice to prevail, prosecution must be just



FBI violating informant guidelines



Defendants, whether innocent or guilty, go up against a justice system stacked
against them

habakkuk said...

Trust me, its a total waist of time to talk to this TCOB character. I've concluded that he is either a plant by the enemy or he is totally incapable of understanding right from wrong. He's the type of guy who looks at unmistakable evidence and still thinks the banks are on the right side. I think Bush should have chosen TCOB for Fed Reserve Chairman to replace Greenspan.....its like he's been campaigning for the job. Believe me, everyone on this site should just flat out ignore this clown.....it aint worth your time.

tcob247 said...

habakkuk said "TCOB is totally incapable of understanding right from wrong."

I'm not the one who collected $3,000 from thousands of people.
Made promises that I didnt keep and let many of them go into foreclosure because my customer service was horrendous.
I don't continue to make promises from jail that dont come to pass

Yah....I'm some plant all right.

By the way. I think that our government isn't perfect (name me one) but I'm not like a lot of you wackos who think every little thing they do is an evil plot to bring down the American people.

This is the greatest country on the earth.
If you don't like it, move somewhere else.

Robert Yetter said...

this is the greatest country in the world but country and goverment are two different things. if there is no transparency than no disclosure hence disception. Isnt this what this blog is supposed to be about?

WillToFight said...

Robert Yetter said...
this is the greatest country in the world but country and goverment are two different things. if there is no transparency than no disclosure hence disception. Isnt this what this blog is supposed to be about?

Yes Mr. Yetter

But do not be nieve, the rabbit whole is very deep. Conflict of interest run rampant. If someone thinks they can get big buck to hurt you, many will. However, most of us here actually care. We attempt to expose and tell the truth of the fraud in the banking system. We

ARE DOREAN = Soveriegn Freedom



Yes

WillToFight said...

Great post

Betudid'ntknow

WillToFight said...

tcob247 said...

This is the greatest country on the earth.
If you don't like it, move somewhere else.

Continued idiocy from tcob247 (taco).

When are you gonna look at facts. When are you gonna take responsibility for your children and their children to grown up in a truely free or fair society..

Obviously you do not understand "Soveriegn" Look it up!

At what point will you stand up.

I said I did not need to respond to you any more. I'm done!!!!!