For the bullet summary, please go here.
It would appear Daryl Jones’ is not without connections. His ex- boss at Onex Investment Corporation became a partner of Michael Dell in MSD Capital . This links relationship between Research Edge LLC executives to other ‘stay home’ bid, creating opportunity and potential unfair advantage. Would we have been led to believe the new group was autonomous?
Collusion, in part, includes:
misrepresenting the independence of the relationship between the colluding parties.
Well, what if there is a great likelihood that independent private corporations may have key individuals that might work in an alliance, and know one another, to create an unfair advantage?
In yesterday’s article, I spoke of the ‘wrestling metaphor’ of the Reinsdorf team, holding the Balsillie team in a headlock, and waiting for the ‘partners’, the friends of Glendale to finish them off.
One might argue, if the Jones contingent (Research LLC) was brought in as a backup plan by the Reinsdorf/NHL/Glendale partners? It would seem there could be key relationships to support this notion.
Yesterday, I outlined a possible attraction between the City of Glendale, and Daryl Jones’ group. It involved assistance with tax issues on unpaid property taxes. There were hints that might suggest a motive for Research Edge to be interested in Glendale as an investment opportunity related to these taxes.
Relationships past and present suggests another strong possibility the bid from Jones and his group could hold favour and provide opportunity that would extend the goals and objectives of the City of Glendale, and it’s friends; namely Michael Reinsdorf, Michael Dell, and the bid by Jerry Reinsdorf. It could also represent a way out for the NHL, to prove they have not colluded with Reinsdorf. But, this may be another attempt to control the relationships in place in Glendale, by bringing in more ‘friends’, in an attempt to fool the court.
When Daryl Jones spoke to the Calgary Herald on July 13th regarding a potential bid, he probably shouldn’t have told them as much as he did. But, then again, that’s pretty usual when you figure it won’t be an issue to come back to bite you later. Similar to Anthony LeBlanc’s strange yet revealing comment, claiming ‘Canadians are snapping up foreclosures by the hundreds’ in Arizona. Yes, opportunity for land profits and tax deals abound in Arizona, and in Glendale it would seem!
Daryl Jones explained his groups’ interest in Glendale was not about hockey, in this July 13th comment to the Calgary Herald:
Jones wouldn’t disclose the other parties involved in his group but made it clear they are looking at making an offer from a business perspective — not for the sake of owning a hockey team.
O.K., so it’s a business perspective, not about some nice Canadians wanting to help the Coyotes stay in Phoenix for the fans’ sake, but a business reason. So, would the reason be related to land and taxes perchance? Well, let’s continue.
Remember Michael Dell? He is the secured creditor we believe had financially choked Jerry Moyes of any chance of succesfully running the Phoenix Coyotes, after the loan from SOF Investments? And, the same Michael Dell who owns MSD Capital Corporation, involved in the CityNorth land development subsidy scandal in the Supreme Court? Well, it would seem Michael Dell has some connections to a mutual friend of Daryl Jones.
Would Dell have motive to bring in some backup to ensure land development and tax subsidies would continue, and help the City of Glendale?
According the the Calgary Herald article, talking about Jones:
For the better part of the last decade, he’s been in finance, spending four years working in New York for Onex Corp., a Toronto-based private equity firm.
So, Daryl Jones would no doubt have known a man named Eric Rosen, the vice President of Onex at the time, since he worked there for four years, and has been in the finance field for ten years, before joining Research Edge LLC. Eric Rosen was the Managing Director and Vice President of Onex Investment Corporation, until joining MSD Capital in 2005. Now, Eric Rosen is currently the partner with Michael Dell in MSD Capital.
So, here we have it. Daryl Jones, having worked with Onex Corp. Onex’s Eric Rosen, having worked in capacity of Managing director of Onex Corp, coming to MSD Capital in 2005, and now partner of MSD Capital.
Is it fair to assume that there is a significant relationship between MSD Capital (Michael Dell and Eric Rosen), and Daryl Jones (Research Edge LLC) to suggest this is a continuation of the land and tax strategies of both groups? You bet! More connections when we would believe the new contingent was autonomous to the other bid.
The ‘stay home bidders’ would seem to be a close knit group, lending further suspicion to an already suspect situation.
From Daryl Jones, we have evidence of discussions with the City of Glendale too, related no doubt to the ‘business opportunities’ described earlier:
Jones’ group still has to submit documents in the next two weeks to the National Hockey League, communicate with the Glendale-area, deal with certain legalities, and negotiate with creditors.
It would seem there is just no stopping the shenanigans to stop the truth from being known to the taxpayers of Glendale, to the bankruptcy trustee of the U.S. Government, and to the courtroom of Judge Baum.
Collusion? It’s certainly looking that way. And with all that money in land development and tax subsidies, these partners are trying to ‘dig in’ for the long haul.
Poor Jerry Moyes. He didn’t stand a chance!