Jesse Jackson, 84

LionDeNittany said:
The best of the worst I would say.

LdN
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I was lightly involved with a bank merger 20 years ago. I was working with their IT department helping them to decide how they were going to consolidate their IT departments and had to carve out resources for their conversion date. There was an article that came out saying that the merger was being challenged by various groups and might not get approval. I asked the acquiring bank's CIO if I should delay our resources and he laughed. He said that the investment company that brokered the deal had warned them that this was standard operating procedure and they already set aside a settlement budget. The settlement was based on the size of the merger. Their were unwritten rules on what the buyout would be based on historical occurrences. A few days later I saw that they settled with "The Rainbow Coalition" and "Operation Push" which were both Jesse Jackson organizations. The acquiring bank game him X millions of dollars and they settled on the spot. It was really legal extortion. If you pay me off, via my "charitable" organizations, I won't accuse you of redlining and hurt your business. We all got a good laugh out of it.

Six months later, I was invited to a golf charity event. The CEO of the acquiring bank was announced on the first tee and got a HUGE ovation from the investors. I asked why he was so popular and was told they all made a ton and that the CEO cleared $100m personally. A few years later, that bank was bought out. The same CIO from years before told me that the CEO bought a boat so big, that lake Erie went up 9 inches when he launched it. (it was a joke, of course). he retired and spends his summer cruising the great lakes, spring and fall are reserved to sailing to/from FL and the winter is spent in FL sailing there.
 
Sheriff Coffee said:
I was lightly involved with a bank merger 20 years ago. I was working with their IT department helping them to decide how they were going to consolidate their IT departments and had to carve out resources for their conversion date. There was an article that came out saying that the merger was being challenged by various groups and might not get approval. I asked the acquiring bank's CIO if I should delay our resources and he laughed. He said that the investment company that brokered the deal had warned them that this was standard operating procedure and they already set aside a settlement budget. The settlement was based on the size of the merger. Their were unwritten rules on what the buyout would be based on historical occurrences. A few days later I saw that they settled with "The Rainbow Coalition" and "Operation Push" which were both Jesse Jackson organizations. The acquiring bank game him X millions of dollars and they settled on the spot. It was really legal extortion. If you pay me off, via my "charitable" organizations, I won't accuse you of redlining and hurt your business. We all got a good laugh out of it.

Six months later, I was invited to a golf charity event. The CEO of the acquiring bank was announced on the first tee and got a HUGE ovation from the investors. I asked why he was so popular and was told they all made a ton and that the CEO cleared $100m personally. A few years later, that bank was bought out. The same CIO from years before told me that the CEO bought a boat so big, that lake Erie went up 9 inches when he launched it. (it was a joke, of course). he retired and spends his summer cruising the great lakes, spring and fall are reserved to sailing to/from FL and the winter is spent in FL sailing there.
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Yes. Jackson would shake down companies for money.

He got his kids distributorships the same way.
 
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