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Sunday, August 27, 2006

Tarrant "Fraud" Bombshell Drops via New York Times Probe

What a weekend it's turned out to be!

Extremely bad news for the Tarrant for Senate Campaign  as Sunday's edition of The New York Times broke a major investigative piece about some very suspicious Wall Street stock-trading last year involving the business dealings of Vermont's self-funded Republican candidate who is seeking to fill Independent Sen. Jim Jeffords seat.

The questionable trading miraculously raised the price of the sellers shares during negotiations involving five billion-dollar-plus corporate buyouts in 2005 - including G.E. Healthcare’s $1.2 billion buyout of Rich Tarrant’s IDX Systems of South Burlington, Vermont.

If your not a logged-in N.Y. Times subscriber, ---here [via NY Times Link Generator, here]Update: Thanks, Morgan, for the N.Y. Times link, just learning the blog ropes --- you can catch it here from Reuters via the Washington Post.  The study of the sales and the stock trades was conducted for the Times by a Toronto, Canada firm - MeasuredMarketsInc. Here's a look at the Vermont highlights from the Times article:

"In each of the five cases, the abnormal trading occurred during periods of significant behind-the-scenes progress in the mergers, as outlined by the companies themselves in regulatory filings long after the deals were struck.

"Trading in Dex Media increased sharply last Sept. 14, the day that management, legal teams and financial advisers representing the company and Donnelley met. And the price and the number of shares traded in IDX jumped on Sept. 7, when its chief executive and a G.E. executive talked and G.E. agreed to increase its bid by 5 percent.

"The S.E.C., following its usual practice, declined to comment on the report."

One thing we can be sure of: Rich Tarrant will accuse the popular, well-known and well-respected front runner, Independent U.S. Rep. Bernie Sanders, of a lot of things, and call him a lot of names in this campaign - already has, hasn't he?

BUT, Rich Tarrant will never accuse the outspoken Bernie Sanders of being engaged in a multimillion dollar illegal stock fraud!

Never.

This week, Tarrant, the former IDX CEO, co-founder and current rookie Republican candidate for the U.S. Senate may be talking to his lawyer, more than his TV attack-ad consultant?

Also, this could be the week that Vermont GOP leaders have a private talk with GOP Candidate Tarrant. Add a federal fraud investigation on top of his megamillion-dollar, negative, attack ad campaign, and no matter how much money Tarrant has, Gov. Jim Douglas, Lt. Gov. Brian Dubie, State Auditor Randy Brock and U.S. House hopeful Martha Rainville are NOT going to want to be in the same state, let alone on the same ticket as Rich Tarrant come November 7, 2006.

After all, Tarrant's principal residence, the one worth $9 million rather than a measely $460k, is in Florida, isn't it!

P.S. From the IDX Corporate "Vision Statement":

"IDX Products will elevate the trust of healthcare consumers by empowering providers to make better more-informed decision."

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Comments

Mr. Peepers

"Rich Tarrant will never accuse the outspoken Bernie Sanders of being engaged in a multimillion dollar illegal stock fraud"

Probably not, and Bernie will not accuse Tarrant of same - since the NYT does not state or even imply that Tarrant was involved in any kind of "fraud." Interesting that you failed to link directly to the story, which does not require registration to read; and that you carefully worded this entry to just imply that Tarrant might be the subject of a fraud investigation, or even suspected of any wrongdoing whatsoever, when nothing in the article even suggests that. In fact, the article points to employees of brokerage firms and investment banks handling these buyouts as the likely culprits in abnormal stock activity surrounding a buyout.

Top it off with the known but oft-repeated lie that Florida is his primary residence, and you've got another pathetic "I hate rich guys" swipe of a blog entry.

Mr. Peepers

"Update: Thanks, Morgan, for the N.Y. Times blog link, just learning the blog ropes"

nytimes.com is not a "blog," it's the Times' primary site; and the story has been readily available registration-free since yesterday.

mwb

The blogsafe url is actually, here [via NY Times Link Generator, here].

Dr. Peppers

Hahahahahahahahaaaaa .... hahahahahahhaaaa.

Oh, that's our Richie. (um ... Florida's Richie.)

Haaaahaaahaahahahaha.

mwb

The Perfect Rich Tarrant All-In-1 Toolkit!

Mr. Peepers

"The Perfect Rich Tarrant All-In-1 Toolkit"

Good strategy when your employee's entire post gets deconstructed, 7D - just decrease the signal to noise ratio.

"Add a federal fraud investigation on top of his megamillion-dollar, negative, attack ad campaign"

Dancing a little close to the libel fire, aren't we?

odum

Dancing a little close to the libel fire, aren't we?

Not really, no.

You're just gonna have to live with it, Mr. P.

Mr. Peepers

Live with what, claiming that Tarrant is under federal fraud investigation when he's not? Not something I need to live with, thank God.

Try reading the article, then let me know what Tarrant is being accused of therein, exactly.

Shareholder

Peeper replied to Odum above: "Live with what, claiming that Tarrant is under federal fraud investigation when he's not? Not something I need to live with, thank God. Try reading the article, then let me know what Tarrant is being accused of therein, exactly."

OK. It's actually right at the top of Freyne's post:

"some very suspicious Wall Street stock-trading last year involving the business dealings of Vermont's self-funded Republican candidate who is seeking to fill Independent Sen. Jim Jeffords seat.

"The questionable trading miraculously raised the price of the sellers shares during negotiations involving five billion-dollar-plus corporate buyouts in 2005 - including G.E. Healthcare’s $1.2 billion buyout of Rich Tarrant’s IDX Systems of South Burlington, Vermont."

Then he quotes from the N.Y. Times story:

"And the price and the number of shares traded in IDX jumped on Sept. 7, when its chief executive and a G.E. executive talked and G.E. agreed to increase its bid by 5 percent."

What's 5 percent of a billion one way or the other?

And according to the N.Y. Times, it occured right when Tarrant was supposedly in confidential, secret talks with General Electric to sell off IDX and all his IDX shares and self-fund a race for an open U.S. Senate seat.

Who does not think this merits a federal stock fraud/insider trading investigation?

Mr. Peepers

"let me know what Tarrant is being accused of therein, exactly."
"It's actually right at the top of Freyne's post"

So basically your answer is, the story accuses him of nothing. If they were at the point in talks where GE was tweaking the number, then the deal was known about by dozens of people at the very least, including many of the investment bankers and brokerage house employees that the article actually implies may be to blame.

I'll give you a mulligan, since it doesn't seem as if you actually read the article. Maybe you can go back and find something in the article that implies - even vaguely - that Tarrant did something wrong.

Dr. Peppers

HAAAAAAHAAAAhahahahaha -- HAAAAA

The Republicans will say that evidence of fraud should not be investigated.

HHHAAAAAAAAAAAAAAhahahahahaaaaaaaaaa.

Oh my God. This is just too funny.

Mr. Peepers

Of course it should be investigated. Now maybe you can settle down long enough to point out where the nyt article implies that Tarrant was "engaged in a multimillion dollar illegal stock fraud!"

Shareholder

We all remember how FAHC Trustee Rich Tarrant insisted until the bitter end that CEO Bill Boettcher had done nothing wrong.

Boettcher also insisted for years that he did nothing wrong.

Where is Bill today?

Wannabe U.S. Sen Rich Tarrant was forced to resign from the board of trustees over FAHC's Renaissance Scandal. There were calls for his resignation by Rep. Sanders and Gov. Douglas to name a few. And even after resigning from the board in disgrace, Tarrant wrote that infamous op-ed in the Burlington Free Press damning the hospital's accusers and the press coverage and defending Boettcher & Co. as having done nothing wrong.

Three years later, Tarrant obviously thinks it's been forgottten.

It has not.

Peepers sounds like paid "Tarrant for Senate" staff.

Mr. Peepers

"Peepers sounds like paid "Tarrant for Senate" staff."

Nope, sorry, just someone who's not fond of dishonesty in the media - if you can call this "media." I guess the subject change means you agree with me re: the nyt article.

Shareholder

Perhaps, we now have the real reason why Candidate Tarrant has refused to release his 2005 federal/state income tax papers to the media?

Tarrant defender Peepers surely thinks Tarrant should release those documents to the public, doesn't he?

Mr. Peepers

Stock transactions by officers of a public companies are already a matter of public record. Thanks for verifying that Freyne's article is based on a false premise.

TarrantTaxes?

This is fun.

Is anyone surprised "Mr. Peepers" deflected and didn't answer "yes" or "no" to Shareholder's simple "yes-no" question about whether Tarrant should release copies of his 2005 income tax returns to the Vermont public? To the voters he wants to be the voice of in Washington?

We won't hold our breath, "Mr. Peepers."

Mr. Peepers

Is anyone surprised that the Bernie bots are so frantically trying to change the subject of Freyne's latest withering attempt to swiftboat Tarrant, or that they didn't realize that tax returns have nothing to do with the post we're commenting on? Did you find anything in that NYT article stating or implying that Tarrant was involved in "engaged in a multimillion dollar illegal stock fraud"? Didn't think so.

Dr. Peppers

The laughs keep comin'. Mr. P says:

"sorry, just someone who's not fond of dishonesty in the media"

Ha! He perfers the dishonest Mr. Tarrant.

Oh Mr. P -- give it up. Tarrant is sunk. $10 million down the tubes.

It's just so funny to watch.

Mr. Peepers

"Did you find anything in that NYT article stating or implying that Tarrant was involved in 'engaged in a multimillion dollar illegal stock fraud'?"

Come on, nobody even wants to take shot at it?

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