GW Bush Corporate Corruption : LUSENET : Unk's Troll-free Private Saloon : One Thread


To: The Files

From: Herbert F. Janick III, Lewis J. Mendelson, James B. Adelman

Date: April 9, 1991

RE: George W. Bush, Jr.'s Filings of Forms 3 & 4 MHO-3180

George W. Bush Jr. ("Bush") is a director of four entities for which he is required to file ownership reports on Forms 3 and 4 pursuant to Section 16 of the Securities and Exchange Act of 1934 ("Exchange Act"). He has been a director of Harken Energy Corp. ("Harken") since November 1986, and its subsidiary Tejas Power Corporation ("TPC") since October 1990. TPC registered an equity security with the Commission effective March 22, 1991. To date no From 3 appears to have been filed by any of the officers and directors of TPC.

With respect to Harken, Bush has filed a timely Form 3 and four late Forms 4 reporting four separate transactions totaling $1,028,935.1 Bush's Forms 4 were filed from 15 to 34 weeks late as follows: on March 4, 1991, approximately 34 weeks late, Bush reported the sale of 212,140 shares on June 22, 1990, for $848,560; on April 17, 1987, approximately 17 weeks late, Bush reported the acquisition of 212,152 shares in an exchange offer in November 1986; on April 22, 1987, approximately 15 weeks late, Bush reported the exercise of options in December 1986 for $96,000; and on October 23, 1989, approximately 15 weeks late, Bush reported the exercise of options in June '89 for $84,375.

Bush was also a director of two unrelated companies, Lucky Chance Mining Co. Inc., ("LCM")2 and Tom Brown Inc. ("TBI"). He filed a timely Form 3 with regard to his holdings of TBI stock on August 31, 1989, and a Form 3 with regard to LCM three days late on January 6, 1984, which indicated that he owned 30,000 shares of its common stock.

In addition, Bush is a director of Silver Screen Management, Inc. which is the managing partner of Silver Screen Partners LP which registered its partnership interests pursuant to Section 12 on June 26, 1984. On June 25, 1984, he filed a timely Form 3 which indicated that he owned no partnership units. In that Form 3, he expressly disclaimed that he is a director or an officer of the issuer. He is also shown in the Commission's NRSI system as a "director" of three other Silver Screen Partnerships, Nos. II, III and IV, LP, for which no Forms 3 appear to have been filed by anyone. According to the Division of Corporate Finance, the responsibility if a director of a managing partner of a limited partnership to file Form 3 is uncertain.

The staff has opened a MUI with respect to Bush's sale of 212,140 shares of Harken stock in June 1990, prior Harken's announcement on August 20, 1990, of a loss of $23.2 million for its quarter ended June 30, 1990, (which caused the stock to drop by $5/8 point or over 20 percent).

1 In addition, Harken's Preliminary Proxy Statement filed on October 9, 1990, indicates that Bush's holdings include 28,286 shares of common sock which may be purchased at $2.50 per share pursuant to exercise of warrants. Bush's Forms 4 do not reflect the acquisition of such warrants. It is unclear from the Proxy Statement whether these warrants were exempt from the reporting requirements.

2 As of 1987, Bush was no longer a director of LCM.

© 2002 The Washington Post Company

-- Cherri (whatever@who.cares), July 03, 2002




Where's all the shooting the messenger?

Where are the complains about the biased left wing media?

This information was available before the election, on line.

Guess the mainstream media wasn't interested. Like Bush's military record, where there has been nothing shown (except a torn document with only the last name Bush on it) explaining GWBush's whereabouts when he was supposed to be serving in the National Guard. Well actually it is well documented as to where he was (running the campaign of one of his Daddy's buddies), the question is, why was he doing that when he was supposed to be on active duty? Why did he have to perform public service later, unless it was his punishment for going AWOL? (Anyone else without his father's connections would have been court marshaled and thrown in the brig.

What about the other "scandals" that are well documented, yet have been totally ignored (the ones his campaign didn't get purged) by the mainstream media.

-- Cherri (whatever@who.cares), July 04, 2002.

YAAAWWWNNNNNNNN!!! Get a life you worthless cunt. Get a job while you’re at it and stop mooching off the government you hate so much.

-- Oink (oink@welfare.hog), July 04, 2002.

So far I see no evideence that Cherri is mooching off the government and plenty of evidence that Dumbya is.

Looks like you got your head stuck up your ass again, eh Oink?

-- LOL (Oink @ typical. dumbass pug), July 04, 2002.

By bashing me, Oink is conceding that my post is valid and cannot be disputed.
So every time this "person" goes to the extent of bashing me, it is a "victory" for me.

Thanks for admitting your inability to dispute my post oink!

-- Cherri (whatever@who.cares), July 04, 2002.

Cherri is right. This situation stinks. Bush was not only a board member of Harken Energy in 1989, but was also on the company's audit committee, when the transaction was made to hide millions in losses. This was the transaction which led the SEC to force the company to amend its books to reflect these losses. (Arthur Andersen was the company's outside "auditor" at the time.)

-- Peter Errington (, July 04, 2002.

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