| John Moores 13:58 - Oct 30 with 27522 views | blaine_scfc |
Anyone know anything about this guy? American businessman who wants to invest in us named on SSN. |  | | |  |
| John Moores on 15:37 - Oct 30 with 2868 views | longlostjack |
Uncomfortable reading :-((( |  |
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| John Moores on 15:38 - Oct 30 with 2862 views | Davillin |
| John Moores on 15:35 - Oct 30 by _ |
That was one hell of a fraud case and some serious custodial sentences dished out.
The fact that this info is going to press (BBC etc) is in itself bad press for us.
The Swans chairman said: "Until there is actually a bit more detail and more definite information to give, this is pure speculation."
He added: ''There is a level of confidentiality that has to remain until there is a bit more to give.''
Move on, Huw... get a grip!! |
FTA Huw. T2C and I are in complete agreement. That alone should get your attention.
[p,.s. Will wonders never cease? -- and let us hope they don't.] |  |
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| John Moores on 15:41 - Oct 30 with 2856 views | dejafu |
If he's anything like the "Peregrine" Service Center product he owned which I've used for many years, we're f£$ked! lol |  | | |
| John Moores on 15:45 - Oct 30 with 2827 views | Davillin |
First, Bloomberg Business Week has an impeccable reputation in the world of finance, possibly the most highly respected in that field.
It is so important that you read it all that I have reproduced it here to save you a mouse click:
Just How Much Did John Moores Know?
October 13, 2002
Larry Garlick says he distrusted venture capitalist John J. Moores from the moment they met in 1991. Garlick was founder of Remedy Corp., a hot Silicon Valley software startup. Moores, a big-shot tech entrepreneur who had launched BMC Software Inc. (BMC) and chaired Peregrine Systems Inc. (PRGNE), swaggered into Garlick's office and made an offer to invest in Remedy, Garlick recalls. Put off by behavior that he felt was overbearing, Garlick turned down the offer.
Last year, Garlick changed his mind--with reservations--after Peregrine made him a generous offer to buy Remedy for $1.2 billion in cash and stock. He wondered how Peregrine's core computer-support software business could grow at a peppy 25% per year while many other software companies were faltering. Peregrine execs credited their products and crack sales team. Still, Garlick adds: "I was skeptical."
Turns out his gut was right. In the past six months, San Diego-based Peregrine has warned that it may have to restate $250 million of the $1.3 billion in revenues it posted from 1999 to 2001. Two top executives have resigned, and the company has sued accountant Arthur Andersen LLP. It's also under investigation by the Securities & Exchange Commission. Moores, who was Peregrine's chairman during half of the questionable period and a regular board member during the rest, finds that his role is coming under attack.
Moores's critics, who have filed dozens of shareholder suits, note that he and entities associated with him sold some 14 million Peregrine shares from 1999 to 2001. That netted more than $630 million. A spokeswoman for Moores, best known as the owner of the San Diego Padres baseball team, says a large portion of the profits went to charities and trusts for nonfamily members. But other investors didn't do so well. After peaking at $79.50 in 2000, the stock was delisted in August. "He reaped a huge prize supported by false financials," says Michael J. Aguirre, a San Diego lawyer pressing a shareholder suit against Peregrine and Moores. "There's no way he wasn't paying attention."
Moores declined to comment. But Peregrine lawyer Charles G. LaBella contends that since Moores was an outside board member without operational responsibilities, he had no way of knowing what was behind Peregrine's impressive sales results and no reason to question them.
Still, Moores's reputation is under assault--quite the comedown for a guy who is a hometown hero in both San Diego and Houston. Back in 1980, Moores, 58, started BMC, a Houston maker of corporate software that now boasts $1.3 billion a year in sales. He has donated more than $200 million to charities in Houston and San Diego. In 1994, Moores bought the struggling Padres for $85 million and invested in hiring star players and boosting attendance. "He built support for the team," says Padres CEO Bob Vizas.
But it is Moores's support of Peregrine that has furious investors looking for answers. Peregrine's problems first came to light in April, when BMC, in which Moores is no longer involved, nearly acquired Peregrine for about $1.6 billion. An audit ordered by Peregrine uncovered numerous potential accounting violations. For example, the report cited irregularities in the way Peregrine booked sales to distributors. Then-chairman and CEO Stephen P. Gardner soon resigned. On Sept. 22, Peregrine filed for bankruptcy protection. Gardner could not be reached for comment.
So what did Moores know? So far, the evidence is only circumstantial. Former employees say it was impossible to miss disturbing signs right under Moores's nose. They say the constant pressure to hit astronomical sales targets was so oppressive that it defined the culture of Peregrine and forced the staff to do things they weren't comfortable with. Former employees say Gardner pressured the sales staff to boost revenues by pushing distributors to buy more Peregrine software than they could ever unload on their customers.
Critics complain that Peregrine's board has been dominated by insiders who didn't question the company's methods. For instance, the board in 2000 and 2001 was predominately made up of company executives, one of its founders, an in-law of Gardner's, Moores, and two of Moores's employees. The chairman of the audit committee now is Charles E. Noell III, CEO of JMI Services Inc., Moores's investment management firm. Noell and other board members would not comment on the matter.
Moores first got involved with Peregrine as an investor in 1989. He was named chairman in 1990, a role he played for 10 years straight. He boosted his total stake in the company to 62.8% by the time the company went public in 1997. Under his watch, Peregrine launched an aggressive expansion strategy in the late 1990s by acquiring more than a dozen software companies. Most of the deals were engineered by Gardner. Originally hired in 1997 as vice- president of strategic acquisitions, he was promoted by Moores and the board to CEO in 1998 and chairman in 2000.
Moores was reappointed chairman immediately after the scandal erupted last spring, but he's taking a backseat now. He quickly hired a new CEO, Gary G. Greenfield, and returned to focusing on the Padres and venture capital. But his ties to Peregrine could haunt him for years to come.
Corrections and Clarifications
``Just how much did John Moores know?'' (News: Analysis & Commentary, Oct. 14) ran an incorrect photo because of misidentification by agency Notimex/Newscom. The photo identified as John Moores, the owner of the San Diego Padres, was actually San Diego Padres CEO Bob Vizas. Here is Moores's photo as it should have appeared.
By Arlene Weintraub in Los Angeles
URL above. [Post edited 30 Oct 2014 15:46]
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| John Moores on 15:51 - Oct 30 with 2792 views | jacabertawe |
I am getting very nervous. A waft of something.
p.s. time for a BBC Wales investigation? [Post edited 30 Oct 2014 15:53]
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| Britishness...is a political synonym for Englishness which extends English culture over the Scots, the Welsh, and the Irish. - Gwynfor Evans
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| John Moores on 15:52 - Oct 30 with 2785 views | LeonisGod |
| John Moores on 15:45 - Oct 30 by Davillin |
First, Bloomberg Business Week has an impeccable reputation in the world of finance, possibly the most highly respected in that field.
It is so important that you read it all that I have reproduced it here to save you a mouse click:
Just How Much Did John Moores Know?
October 13, 2002
Larry Garlick says he distrusted venture capitalist John J. Moores from the moment they met in 1991. Garlick was founder of Remedy Corp., a hot Silicon Valley software startup. Moores, a big-shot tech entrepreneur who had launched BMC Software Inc. (BMC) and chaired Peregrine Systems Inc. (PRGNE), swaggered into Garlick's office and made an offer to invest in Remedy, Garlick recalls. Put off by behavior that he felt was overbearing, Garlick turned down the offer.
Last year, Garlick changed his mind--with reservations--after Peregrine made him a generous offer to buy Remedy for $1.2 billion in cash and stock. He wondered how Peregrine's core computer-support software business could grow at a peppy 25% per year while many other software companies were faltering. Peregrine execs credited their products and crack sales team. Still, Garlick adds: "I was skeptical."
Turns out his gut was right. In the past six months, San Diego-based Peregrine has warned that it may have to restate $250 million of the $1.3 billion in revenues it posted from 1999 to 2001. Two top executives have resigned, and the company has sued accountant Arthur Andersen LLP. It's also under investigation by the Securities & Exchange Commission. Moores, who was Peregrine's chairman during half of the questionable period and a regular board member during the rest, finds that his role is coming under attack.
Moores's critics, who have filed dozens of shareholder suits, note that he and entities associated with him sold some 14 million Peregrine shares from 1999 to 2001. That netted more than $630 million. A spokeswoman for Moores, best known as the owner of the San Diego Padres baseball team, says a large portion of the profits went to charities and trusts for nonfamily members. But other investors didn't do so well. After peaking at $79.50 in 2000, the stock was delisted in August. "He reaped a huge prize supported by false financials," says Michael J. Aguirre, a San Diego lawyer pressing a shareholder suit against Peregrine and Moores. "There's no way he wasn't paying attention."
Moores declined to comment. But Peregrine lawyer Charles G. LaBella contends that since Moores was an outside board member without operational responsibilities, he had no way of knowing what was behind Peregrine's impressive sales results and no reason to question them.
Still, Moores's reputation is under assault--quite the comedown for a guy who is a hometown hero in both San Diego and Houston. Back in 1980, Moores, 58, started BMC, a Houston maker of corporate software that now boasts $1.3 billion a year in sales. He has donated more than $200 million to charities in Houston and San Diego. In 1994, Moores bought the struggling Padres for $85 million and invested in hiring star players and boosting attendance. "He built support for the team," says Padres CEO Bob Vizas.
But it is Moores's support of Peregrine that has furious investors looking for answers. Peregrine's problems first came to light in April, when BMC, in which Moores is no longer involved, nearly acquired Peregrine for about $1.6 billion. An audit ordered by Peregrine uncovered numerous potential accounting violations. For example, the report cited irregularities in the way Peregrine booked sales to distributors. Then-chairman and CEO Stephen P. Gardner soon resigned. On Sept. 22, Peregrine filed for bankruptcy protection. Gardner could not be reached for comment.
So what did Moores know? So far, the evidence is only circumstantial. Former employees say it was impossible to miss disturbing signs right under Moores's nose. They say the constant pressure to hit astronomical sales targets was so oppressive that it defined the culture of Peregrine and forced the staff to do things they weren't comfortable with. Former employees say Gardner pressured the sales staff to boost revenues by pushing distributors to buy more Peregrine software than they could ever unload on their customers.
Critics complain that Peregrine's board has been dominated by insiders who didn't question the company's methods. For instance, the board in 2000 and 2001 was predominately made up of company executives, one of its founders, an in-law of Gardner's, Moores, and two of Moores's employees. The chairman of the audit committee now is Charles E. Noell III, CEO of JMI Services Inc., Moores's investment management firm. Noell and other board members would not comment on the matter.
Moores first got involved with Peregrine as an investor in 1989. He was named chairman in 1990, a role he played for 10 years straight. He boosted his total stake in the company to 62.8% by the time the company went public in 1997. Under his watch, Peregrine launched an aggressive expansion strategy in the late 1990s by acquiring more than a dozen software companies. Most of the deals were engineered by Gardner. Originally hired in 1997 as vice- president of strategic acquisitions, he was promoted by Moores and the board to CEO in 1998 and chairman in 2000.
Moores was reappointed chairman immediately after the scandal erupted last spring, but he's taking a backseat now. He quickly hired a new CEO, Gary G. Greenfield, and returned to focusing on the Padres and venture capital. But his ties to Peregrine could haunt him for years to come.
Corrections and Clarifications
``Just how much did John Moores know?'' (News: Analysis & Commentary, Oct. 14) ran an incorrect photo because of misidentification by agency Notimex/Newscom. The photo identified as John Moores, the owner of the San Diego Padres, was actually San Diego Padres CEO Bob Vizas. Here is Moores's photo as it should have appeared.
By Arlene Weintraub in Los Angeles
URL above. [Post edited 30 Oct 2014 15:46]
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Uncomfortable reading to say the least. But for those of us who prefer pictures to words, check out his wiki page picture. There's something about that hair and glasses that sets the alarm bells ringing for me.  |  | | |
| John Moores on 15:56 - Oct 30 with 2749 views | reddythered |
Suppose the main question would be what the level of investment would be.
If fairly small, then his previous activities shouldn't be too much of an issue as he'd not be in position to pull stunts, surely? If several board members were actively looking to sell on the other hand... | |
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| John Moores on 15:57 - Oct 30 with 2739 views | jackonicko |
| John Moores on 15:56 - Oct 30 by reddythered |
Suppose the main question would be what the level of investment would be.
If fairly small, then his previous activities shouldn't be too much of an issue as he'd not be in position to pull stunts, surely? If several board members were actively looking to sell on the other hand... |
Spoken like a true Cardiff fan. |  | | |
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| John Moores on 15:58 - Oct 30 with 2730 views | Clinton |
Great research guys, keep it up.
Seems like PS is 'stepping up to the plate' as far as due diligence on Mr Moores is concerned. |  |
| If you can fill the unforgiving minute.
With sixty seconds' worth of distance run,
Yours is the Earth and everything that's in it,
And - which is more - you'll be a Man, my son! |
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| John Moores on 15:58 - Oct 30 with 2729 views | Swanzay |
| John Moores on 15:51 - Oct 30 by jacabertawe |
I am getting very nervous. A waft of something.
p.s. time for a BBC Wales investigation? [Post edited 30 Oct 2014 15:53]
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Lets get 'The Ferret' onto him! |  | | |
| John Moores on 15:59 - Oct 30 with 2727 views | WarwickHunt |
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| John Moores on 16:13 - Oct 30 with 2655 views | monmouth |
So, someone was chairman of a company (and his mate was chairman of the audit committee?) during the full period of a large fraud. The auditor involved was a disgraced and since defunct firm notorious for working with companies (in particular, Enron) to inflate earnings and ficticious results. This is also what seems to have happened here. Neither director knew anything about it or noticed any potential issues in remarkable market outperformance. He sold a massive wodge of shares for enormous personal gain just before the thing collapsed. Is that a fair summary of that article? |  |
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| John Moores on 16:15 - Oct 30 with 2640 views | monmouth |
| John Moores on 15:52 - Oct 30 by LeonisGod |
Uncomfortable reading to say the least. But for those of us who prefer pictures to words, check out his wiki page picture. There's something about that hair and glasses that sets the alarm bells ringing for me. |
That's often as good a test as any, to be fair. | |
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| John Moores on 16:17 - Oct 30 with 2625 views | reddythered |
| John Moores on 15:57 - Oct 30 by jackonicko |
Spoken like a true Cardiff fan. |
Point being, if any shareholding he got was a small amount without the ability to influence or control, then there's little scope for abuse.
If however he obtained controlling interest via several directorsselling their shares, then it becomes a problem.
Simples.
I doubt the guy would settle for the first scenario, tbh. | |
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| John Moores on 16:17 - Oct 30 with 2621 views | tomdickharry |
| John Moores on 15:51 - Oct 30 by jacabertawe |
I am getting very nervous. A waft of something.
p.s. time for a BBC Wales investigation? [Post edited 30 Oct 2014 15:53]
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Huw Edwards presents a special edition of Week in Week Out. | | | |
| John Moores on 16:18 - Oct 30 with 2567 views | _ |
Can Huw Jenkins explain a bit more please - Or the Trust. Phil?
"Until there is actually a bit more detail and more definite information to give, this is pure speculation. 'There is a level of confidentiality that has to remain until there is a bit more to give."
What right does the second highest shareholder have in terms of offering more detail.
Confidentiality for who?
Leigh Dineen? Huw? Katzen?
Not for the great club Swansea City FC?!! |  |
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| John Moores on 16:39 - Oct 30 with 2483 views | Joe_bradshaw |
I hope his favourite, lucky colour isn't blue........... |  |
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| John Moores on 16:43 - Oct 30 with 2464 views | Davillin |
| John Moores on 16:39 - Oct 30 by Joe_bradshaw |
I hope his favourite, lucky colour isn't blue........... |
. . . or red? | |
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| John Moores on 16:47 - Oct 30 with 2435 views | blaine_scfc |
As much as it would be great to see us with some investment to update our facilities, strengthen our playing staff, too much could go wrong. Keep us how we are.... Does look like some directors want to cash in though which is disappointing, but understandable. | | | |
| John Moores on 16:53 - Oct 30 with 2407 views | bermudajack |
| John Moores on 16:18 - Oct 30 by _ |
Can Huw Jenkins explain a bit more please - Or the Trust. Phil?
"Until there is actually a bit more detail and more definite information to give, this is pure speculation. 'There is a level of confidentiality that has to remain until there is a bit more to give."
What right does the second highest shareholder have in terms of offering more detail.
Confidentiality for who?
Leigh Dineen? Huw? Katzen?
Not for the great club Swansea City FC?!! |
Fan representation via the Trust could be at stake here, it is vital that we retain our 21% stake
I've read a lot about this guy over the last few days & as is posted on here some bad but mostly good.
I cannot however believe that these guys are looking to invest a bit for a small amount of shares
These guys have made massive profits everywhere they have invested.
they may be putting their "foot in the door" right now, but I'll be amazed if we're not talking about a full & complete takeover soon...😳 |  |
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| John Moores on 17:01 - Oct 30 with 2372 views | Uxbridge |
| John Moores on 16:18 - Oct 30 by _ |
Can Huw Jenkins explain a bit more please - Or the Trust. Phil?
"Until there is actually a bit more detail and more definite information to give, this is pure speculation. 'There is a level of confidentiality that has to remain until there is a bit more to give."
What right does the second highest shareholder have in terms of offering more detail.
Confidentiality for who?
Leigh Dineen? Huw? Katzen?
Not for the great club Swansea City FC?!! |
Confidentiality would be standard and people involved will be required to sign NDAs etc.
Personally speaking I'm dead against any dramatic change in the ownership structure of SCFC, and I fully endorse the Trust press releases. With regards the potential investors, it's good to see some rigorous analysis of their backgrounds rather than just being blinded by the $'s. |  |
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| John Moores on 17:02 - Oct 30 with 2372 views | Tummer_from_Texas |
A Texan born in San Antonio, awesome!
Can't say I'm familiar with him though. |  |
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| John Moores on 17:04 - Oct 30 with 2362 views | _ |
| John Moores on 16:53 - Oct 30 by bermudajack |
Fan representation via the Trust could be at stake here, it is vital that we retain our 21% stake
I've read a lot about this guy over the last few days & as is posted on here some bad but mostly good.
I cannot however believe that these guys are looking to invest a bit for a small amount of shares
These guys have made massive profits everywhere they have invested.
they may be putting their "foot in the door" right now, but I'll be amazed if we're not talking about a full & complete takeover soon...😳 |
You've read a lot about what guy? John Moores?
Massive profits but some dubious business involvement if the articles are to be believed? | |
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| John Moores on 17:04 - Oct 30 with 2359 views | MoscowJack |
Isn't it extremely obvious that the Yanks aren't in it for the 30% that they're rumoured to be buying? That makes zero sense and doesn't tie into their previous and existing businesses either.
If strong rumours are true, it's part 1 of a 2 part "lock, stock and barrel" sale and even the part 2 price is set in stone.
That's not "investment" but selling....slowly?
Why so slowly? Why not just sell 100% now? Maybe so that we fall for the "we need external investment to make sure you all have a 35k stadium and free seats" blurb??
Also, what debt will be attached to the deal? With TV money due to increase even more over the next couple of years, do we need debt NOW?
I'm sorry but this stinks of a few people cashing in but not on the right deal. I'm really not against anyone cashing in on their shares, but leave the Trust 100% safe and pick a decent new owner please! | |
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| John Moores on 17:35 - Oct 30 with 2279 views | Sweyns_Eye |
So if he invests, what's in it for him exactly??? |  |
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