January 28, 2014

Two Texas energy giants take multibillion-dollar dispute to jury

When does a business relationship become a partnership?

That question is at the heart of a multibillion-dollar dispute involving three giant oil and gas companies that’s scheduled to start trial this week in Dallas.

Energy Transfer Partners of Dallas contends that Houston-based Enterprise Products Partners broke its commitment to jointly build a pipeline from Cushing, Okla., to Houston.

Energy Transfer Partners argues that Enterprise and Enbridge Inc. of Calgary, Alberta, conspired to cut Energy Transfer Partners out of the deal.

More at http://www.dallasnews.com/business/energy/20140127-two-texas-energy-giants-take-multibillion-dollar-dispute-to-jury.ece .

Cross-posted in the Texas Group.

January 28, 2014

Two Texas energy giants take multibillion-dollar dispute to jury

When does a business relationship become a partnership?

That question is at the heart of a multibillion-dollar dispute involving three giant oil and gas companies that’s scheduled to start trial this week in Dallas.

Energy Transfer Partners of Dallas contends that Houston-based Enterprise Products Partners broke its commitment to jointly build a pipeline from Cushing, Okla., to Houston.

Energy Transfer Partners argues that Enterprise and Enbridge Inc. of Calgary, Alberta, conspired to cut Energy Transfer Partners out of the deal.

More at http://www.dallasnews.com/business/energy/20140127-two-texas-energy-giants-take-multibillion-dollar-dispute-to-jury.ece .

Cross-posted in the Environment & Energy Group.

January 28, 2014

GOP leaders: Court erred in order to end life support for brain-dead, pregnant woman

DALLAS — Four big-name Republicans running for lieutenant governor say a Texas judge erred by ordering to remove a brain-dead, pregnant woman from life support. They vowed if elected to tighten state law so that a similar outcome couldn’t happen again.

Agriculture Commissioner Todd Staples said Monday night “we need to make certain that as a society, we are protecting life.” Lt. Gov. David Dewhurst, Land Commissioner Jerry Patterson and state Sen. Dan Patrick echoed similar sentiments.

A Fort Worth hospital complied this weekend with an order to pull life-sustaining treatment for Marlise Munoz and her 23-week-old fetus.

Stakes were higher in the first statewide televised debate — but this foursome arrived well-rehearsed. Campaign aides said it was at least the 24th debate or forum featuring all or most of the field.

Source: http://www.dallasnews.com/news/local-news/20140127-gop-leaders-court-erred-in-order-to-end-life-support-for-brain-dead-pregnant-woman.ece

January 28, 2014

Republican Lt. Governor candidates face-off tonight in statewide debate

LIVE video stream of the debate at http://www.texasdebates.org, courtesy of KERA-TV.

The lieutenant governor candidates are facing off in the first statewide televised debate tonight.

The live, hourlong debate among the four candidates running for lieutenant governor starts at 8 p.m. central on KERA-TV Channel 13. The debate will also go on radio and television stations across Texas and streamed online live at texasdebates.org. The video will be available 24 hours later on-demand online at texasdebates.org.

Incumbent Lt. Gov. David Dewhurst is running for re-election and defending his seat against three heavyweight Republican primary opponents.

More at http://www.reporternews.com/news/2014/jan/27/republican-lt-governor-candidates-face--tonight-st/ .

[font color=green]Tonight's TV Choices:
Season 4 premiere of Hotel Impossible
Another episode of Rachael v Guy: Celebrity Cookoff
Rachel Maddow
Republicans masterdebating themselves

I won't be watching the Pukes. [/font]

January 28, 2014

Trial begins in Life Partners Holdings case

Waco-based Life Partners Holdings and three executives went on trial Monday in Austin, where a jury will weigh allegations by the Securities and Exchange Commission that they defrauded investors, misrepresented company revenues and benefitted from insider information when selling their own company shares.

U.S. District Judge James R. Nowlin is presiding over proceedings that stem from a lawsuit the SEC filed in January 2012 against Life Partners, founder Brian D. Pardo, longtime general counsel R. Scott Peden and chief financial officer David Martin.

-snip-

Life Partners, which was incorporated in 1991, has become a leader in the area of viatical settlements. It brokers the sale of life insurance policies from the very ill to investors who pay less than face value for the policies, take up premium payments and collect the proceeds upon the deaths of sellers.

For example, an individual needing cash for treatment or living expenses might sell a $1 million policy for $500,000. Life Partners often packages multiple policies for sale to groups of investors. Since its founding, it has acquired policies with $3 billion in face value.

More at http://www.wacotrib.com/news/business/trial-begins-in-life-partners-holdings-case/article_8eadbfc1-df33-5935-a206-d7c67d7e9b68.html .

Cross-posted in the Texas Group.

January 28, 2014

Trial begins in Life Partners Holdings case

Waco-based Life Partners Holdings and three executives went on trial Monday in Austin, where a jury will weigh allegations by the Securities and Exchange Commission that they defrauded investors, misrepresented company revenues and benefitted from insider information when selling their own company shares.

U.S. District Judge James R. Nowlin is presiding over proceedings that stem from a lawsuit the SEC filed in January 2012 against Life Partners, founder Brian D. Pardo, longtime general counsel R. Scott Peden and chief financial officer David Martin.

-snip-

Life Partners, which was incorporated in 1991, has become a leader in the area of viatical settlements. It brokers the sale of life insurance policies from the very ill to investors who pay less than face value for the policies, take up premium payments and collect the proceeds upon the deaths of sellers.

For example, an individual needing cash for treatment or living expenses might sell a $1 million policy for $500,000. Life Partners often packages multiple policies for sale to groups of investors. Since its founding, it has acquired policies with $3 billion in face value.

More at http://www.wacotrib.com/news/business/trial-begins-in-life-partners-holdings-case/article_8eadbfc1-df33-5935-a206-d7c67d7e9b68.html .

Cross-posted in the LGBT Group.

January 28, 2014

Pell, husband of Michelle Kwan, to run for RI gov

Source: AP

PROVIDENCE, R.I. (AP) — Clay Pell is entering the race for Rhode Island governor — and bringing along his family legacy and the star power of his wife, Olympic figure skater Michelle Kwan.

The grandson of late U.S. Sen. Claiborne Pell announced his bid with a campaign video released Monday night ahead of a kick-off rally planned for Tuesday.

The 32-year-old Democrat served in the U.S. Coast Guard and worked on the White House National Security staff and at the U.S. Education of Department.

Pell says he offers a fresh approach and says he would work to bring the state together to address its economic challenges.

Read more: http://www.mysanantonio.com/news/politics/article/Pell-husband-of-Michelle-Kwan-to-run-for-RI-gov-5178749.php

January 27, 2014

Dems squandering opportunity in Texas

By Carlos Sanchez
Editor of The Monitor
McAllen, Texas

Years ago, a savvy lawmaker told me that the political reality of Texas pointed to a two-party system in which the Republican Party would become the last bastion of a white power structure and the Democratic Party would emerge as the place for minority political power.

Of course, the lawmaker, a white Democrat who lost his next election, said this privately because of the sensitivity of his comments. But his observation may prove prescient this election season as two women — Wendy Davis and Leticia Van de Putte — vie to make history by becoming the first all-female governor and lieutenant governor team to be elected simultaneously in any state in the country.

Davis may be garnering national accolades by Democrats after her 12-hour filibuster last year over the nation’s most restrictive abortion legislation, but it’s Van de Putte who could be the key to breaking the 20-year-long Republican lock on statewide offices in Texas because of the very trend my lawmaker friend predicted.

Leticia’s maiden name is San Miguel and her Hispanic heritage runs as deep as the Latino population in San Antonio, the city where she was raised and which she now represents. She may have been born out of state, where her father was stationed in the military, but she is a ninth generation Tejana.

More at http://www.themonitor.com/opinion/columnists/carlos_sanchez/article_684cdca2-8557-11e3-97b4-001a4bcf6878.html .

January 27, 2014

Ray Nagin faces trial to decide his fate on federal corruption charges

Shortly after taking the oath as mayor of New Orleans, Ray Nagin -- a fresh-faced former cable executive eager to make his mark on a city widely seen as a hotbed for political corruption -- did something unusual. He orchestrated a massive raid one July morning in 2002 that led to more than 70 arrests, including members of the Taxicab Bureau, the Utilities Department, dozens of cab drivers and even a distant relative of Nagin.

While most charges were later dropped for lack of evidence, the raid sent a clear message: Nagin had positioned himself as an agent of change.

-snip-

Ten years later, Nagin stands accused of participating in the very cronyism he had vowed to combat. He is the first New Orleans mayor to face federal charges. And on Monday, he will be the first to stand trial, barring any last-minute plea deal.

Federal prosecutors charged Nagin in January 2013 with 21 counts of bribery, wire fraud and conspiracy, stemming from misdeeds they say go back to 2004. He could get more than 20 years in prison if prosecutors can prove he broke the law for a meager bounty of $300,000, a truckload or two of granite, a ride in a limousine and a few trips on a private jet.

More at http://www.nola.com/crime/index.ssf/2014/01/ray_nagin_trial.html#incart_maj-story-2 .

January 27, 2014

Secession, Obama get more talk in Texas attorney general race than job’s main functions

The Republican candidates for Texas attorney general talk more about secession than child support.

The race to replace Greg Abbott, who is running for governor and leaving his post as the state’s top lawyer, is centered on which candidate best embodies the conservative principles demanded by the activist base of the GOP.

At forums, debates and other campaigns stops, the candidates are more likely to get a question about Texas leaving the union or how to secure the borders than strategies to better collect child support or stop fraud, two major functions of the attorney general’s office.

Knowing this, Rep. Dan Branch of Dallas, Sen. Ken Paxton of McKinney and Railroad Commission Chairman Barry Smitherman have adjusted their campaigns to cater to the realities of GOP primary politics. They are tripping over each other to stake out ground on the right.

More at http://www.dallasnews.com/news/politics/headlines/20140126-secession-obama-get-more-talk-in-texas-attorney-general-race-than-jobs-main-functions.ece .