Does Anyone Have Good News?

It’s been rather quiet here. No word from Weissenborn. Nothing from the Ngs.  The good folks at Pensco haven’t said a word.  Neither have our friends at Wells Fargo Foothill.  We get occasional status updates on the various lawsuits against our former financial stewards and we hear occasional juicy rumors, but there’s nothing worth sharing at this time that anyone would consider a game changer.  By the way, is Lend, Inc. lending?

Speaking of Kelly, in 2003 he was busy with a start-up venture, the Bentley School’s volleyball team:

Mens Volleyball Sweeps Terra Linda 3-0 to Head on to NCS Semis!

profile image BCL Champions — the Bentley Mens Volleyball Team — defeated Terra Linda in 3 games last night and now will play against Sir Frances Drake H.S. in the Semi-finals of the North Coast Section Championship on Thursday, May 17th @ 7pm in the Athletic Center on the Lafayette Campus.
Bentley defeated Drake when the Phoenix won the Novato Volleyball Tournament earlier in the season so an exciting match is anticipated Thursday night. Meanwhile, on the same night, #5 seeded arch-rivals Head-Royce will face #1 seeded Moreau Catholic.
Winners of both games on Thursday will meet on Saturday, May 19th, for the NCS Finals!
What a wonderful accomplishment this has been for Coach Kelly Ng and his team, especially considering that Coach Ng only founded the Bentley Mens Volleyball program 4 years ago!
Bentley’s Spring Awards event will be held May 22, 2007 in the Student Performing Arts Center on the Lafayette Campus.

Wasn’t Kelly supposed to be working on RE Loans, Bar-K et al in 2003-2007?  That is all.  Who has something to share?  Speak up if you do!

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4 thoughts on “Does Anyone Have Good News?

  1. Nearly everyday I visit the reloansllc.com website to check for news . . . this morning a new letter from JW is posted. I have not read it yet . . . . thought I would alert JR to post it here.

  2. A couple of quick point on a fast read of the CRO’s Cinco de Mayo letter.

    1. Funny how he can never tell us what the “burn rate” is for his operation.

    2. Siena Hotel proceeds will be consumed in the “burn rate”.

    3. Does anyone else think that there is a huge conflict of interest surrounding the RE Reno Ng guarantee issue? Who is going to enforce what rights on behalf of whom?

    4. RE Loans increase in REO’s. All that means is we are getting stuck with the Queen of Spades.

    5. Adams Canyon will be worth something. It’s a nice property. It’s a keeper probably worth close to the loan amount. Walter, will you transfer title to my brother and some other investors to satisfy their debt?

    6. Canyon Club is not worth the amount of the loan. The only one who is going to get paid on that is Wells Fargo and Barney Ng who is pursuing his $5 million dollar commission against Stephen Schram in NY Fed Dist Ct.

    7. Who is Euby Black? 2718 Santa Rosa loans were $47 million. Likely worth $20 million.

    8. Vantage Lofts-$37 million dollars. What does the fact that Wells Fargo would not pay the taxes tell you? Is any land or partial development worth anything in Las Vegas NV?

    9. Weyrich Loan, Jacks Ranch. I’m going down there this weekend. This has value but what part of the total $16 million dollar loan is assigned to it I don’t know.

    10. The portfolio analysis is a sham. We are owed $691 million. Now the fictional number is $663 million. Now if the Wells Fargo note is still $67 million where did the difference go,$28 million. Is that the burn rate for the last two years?

    11. Selling the WF loan. Time for the buzzards to swoop in. Hedge Fund? We will be sold down the river. We will now be in 3rd position, behind whoever buys the debt, behind whoever services the debt. Bankruptcy would at least bring everything out into the open.

    12. FBI investigation. Did you learn anything by the CRO’s comments? Only that he was interviewed. Do you believe his statement that the investigation will not distract RE Loans from the goal of maximizing the return from the portfolio? Who are the principals in RE Loans? Whose interest are they really concerned about in the FBI investigation? There is a huge conflict of interest in the Ng gang running RE Loans. Bankruptcy or a Receiver would be a blessing.

  3. Court file reflects that both cases were unconditionally settled 1/25/11 but no dismissal has been filed to date.

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