DRW Illegal Trading Litigation? // Eliot Singer

I can find nothing recent about the CFTB litigation against DRW for illegal trading. Months ago there was an article commenting on how long the judge was taking.

I would not expect this to factor into East Lansing government decision making. Ever since the Meadows faction hired Staton as city manager and gave him bonuses for development, the city’s ethic has been: give us your crooks, deadbeats, and cronies yearning for a free ride.

MEDC however has a legal requirement that any litigation be reported. Unfortunately it is almost impossible to find out whether MEDC has followed procedure or on what it bases its decisions. It has almost no transparency, one of the reasons eliminating it is an issue in the war between ethical Democrats and patronage Democrats. Any legitimate economic development can be accomplished with transparency and accountability.

DRW/Convexity seems to be far more professional and straight forward than the typical developers who have plagued East Lansing, including Harbor Bay. That does not exempt it from the illegal trading issue being discussed and taken into consideration by Council, the press, and the public. Even if resolved in favor of DRW, putting a stop to financial shenanigans is at the top of the agenda of the populist wing of the Democratic Party.

Also, remember the DRW/Core Campus folks got in bed with Strathmore doing a student rental deal for City Center II when the public was being told no student rentals. If a sophisticated outfit with enormous financial assets and legal team couldn’t figure out the risks, I have no sympathy, and taxpayers should not be on the hook for a reckless business decision.

Remember the principal for whom DRW is named is he of the four nannies.

Meanwhile I hear from friends who cannot sell their East Lansing houses for enough to afford somewhere less than half the size in a preferred retirement location.

– Eliot Singer

4 thoughts on “DRW Illegal Trading Litigation? // Eliot Singer

  1. Through the miracle of the Internet somehow this typically erroneous piece showed up on my phone.

    As Singer has made the statement so many times he must have convinced himself it is true– let me correct just one of his perpetual errors–contrary to Singer’s dotage based belief, I was not on City Council when Ted Staton was hired. He must have me confused with Bill Sharp, Wally Juall, Jay Rosen, David Balas or Mayor Robert Phipps!

    Mark Meadows

  2. I don’t usually respond to these emails, but I have to respond to Mark Meadows. Eliot Singer has been a concerned and involved citizen for many years. He cared and cares deeply about those who live in East Lansing.

    I am appalled at Mark Meadows’ response to Eliot’s latest contribution to Public Response. “Dotage”. Really? Is the best you can come up with? This, and all the other negative press about EL City Council is so disturbing. It is time for change….

  3. I guess I have long believed Meadows hired Staton. Moot point because they were very close and both seem to prefer back room deals and maneuvering to get around the city charter and rules for good government.

    I repeat my view that government needs to follow rules that exclude it from doing business with anyone who poses financial or moral risks. If DRW illegal trading litigation has been decided in its favor, and I can find nothing recent in my search, that would no longer be grounds for excluding it. However, giving tax breaks to wealthy corporations, like tax breaks for apartments for wealthy students, ought to be political grounds for ousting elected officials.

    Reformers want the Democratic Party to adopt a strong stance against corruption, cronyism, back room deals, and secrecy. We believe the party’s well deserved reputation for sleaze is why it cannot win elections outside its few strongholds.

    I am still calling for state candidates to take a zero tolerance for corruption and cronyism stand. But it is very hard to make a case for Gretchen given what goes on in her home town.

    As to Meadows, he should have faced recall the day he announced the backroom deal for Lot 1, the city’s best asset that the charter requires to be sold only with voter approval. I hope, if they do another backroom deal with the Evergreen properties, someone will start a recall.

    • Mr. Singer:

      Why in the world would someone not vote for Gretchen Whitmer because of “what goes on in her hometown?” Am I responsible for everything that goes on in my original hometown of Bloomfield Hills? Are the members of Grand Funk Railroad responsible for the Flint water crisis, or Sec. Ben Carson for the Detroit Public Schools, since each are from those respective hometowns? Please be more responsible with your words.

      Also, Case No. 1:13-cv-07884 is still awaiting the Judge’s ruling, according to PACER. You could always call the Court clerk to inquire about the status if it is so important to you.

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