#1 2009-08-06 07:49:26
As president of the Friends of the Wareham Free Library during the litigation, I need to correct misinformation in both the Standard Times article and Slager's article. The Friends did not give any money to the town as part of the mediation settlement. The Friends did however, get to keep the $75,000 it received from the Trustees to help furnish the Spinney library with books, computers, furniture and so forth after the building project is complete.
According to Mr. Urbon, "The settlement, reached with a federal mediator in U.S. District Court on Monday, eventually will dissolve the existing private trustees and replace them with a new town-appointed board that will be "seeded" with $50,000 from the combined assets of the Trustees of the Wareham Free Library, the Friends of the Library and the library foundation."
Correction: The assets that will supply the $50,000 come solely from the Trustees and the Foundation. The Friends will not give any of its assets to the town as part of the mediation agreement.
According to Slager, "The new town-appointed board will be given $50,000 from assets currently in the possession of the former trustees and the Friends of the Wareham Free Library. The former trustees, who created a private foundation two years ago on which they serve as directors of the board, along with the Friends of the Wareham Free Library, will be allowed to keep $180,000 of their assets, which will be used in support of the library."
Correction: In fact, the assets that will be given to the town are in the possession of the former trustees and the foundation. The only money the Friends received from the Trustees was the $75,000 and we will be allowed to keep that entire amount. No other Friends' assets were involved in the litigation.
Slager is also incorrect when he says, "As part of the agreement, the town’s insurer will pay $40,000 toward legal bills for the former trustees. The exact amount of those legal bills is unclear, but a former trustee estimated the number to be well over $100,000."
As part of the litigation, I have seen each legal bill, and I can tell you that the statement that the bill estimate of being "well over $100,000" is also not true. The money paid to the library trustees and foundation for its legal bills from the town's insurer represents a significant portion of the library organizations' overall bill. Furthermore, the Friends' bills were completely covered by its liability insurer and we, at no time, asked for reimbursement.
All library parties have agreed not to discuss the mediation with the press, but I felt compelled to correct the false statements particularly those dealing with the Friends.
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#2 2009-08-06 10:01:32
Thank you Nora and CONGRATULATIONS. I'm sure you all feel relief that
the weight has been lifted and you all stood for what you knew was right.
It's just a pitiful shame that the BOS and Wareham's counsel didn't read and comprehend the laws. (501-3c)
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#3 2009-08-06 10:14:26
SLAGERS SPIN:
For all their posturing, for all their attempts at martyrdom, it appears the former library trustees were really interested in only one thing - hiding the fact they lost $250,000 in donations by investing the money poorly. Now it's finally clear.
WE HAVE ALL BEEN WAITING FOR SLAGER'S PROMISE OF SOMETHING SIDIOUS LURKING IN THE TRUSTEE'S FUNDS AND THAT WHY THEY WANTED TO KEEP IT FROM THE PUBLIC. SO ACCORDING TO SLAGER IT WAS TO KEEP THE PUBLIC FROM SEE THAT 250,000 WAS LOST IN BAD INVESTMENTS???????? IM SURE EVERYONE IN THE COUNTRY HAS SEEN A GREAT LOSS IN THEIR INVESTMENTS AND WITH THE AMOUNT OF MONEY THE TRUSTEES HAD A 250,000 DOLLAR LOSS SEEMS VERY REASONABLE DUE TO THE STOCK MARKET CRASH. I PERSONALLY HAVE LOST THOUSANDS IN MY 401, NOT DUE TO BAD INVESTMENTS. EVERYONE HAS YOU STUPID LIAR SLAGER!!!! THATS THE BEST YOU CAN COME UP WITH RAGBOY??? THE ONLY BAD INVESTMENTS WOULD BE IF THEY HAD GOTTEN THEIR FINANCIAL ADVICE FROM SWEET BRUCIE WHO OWES 181,000 DOLLARS IN BACK TAXES.
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#4 2009-08-06 10:18:21
Here is the simple fact: If you pay the opponent's legal fees, you have lost! Please stop trying to spin it! Frankly, I am glad it's over. Now we know that Paul Shooter's Sensei had no idea what he was talking about! As his readers diminish, we can grab some popcorn and watch the disaster film!
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#5 2009-08-06 11:22:39
I don't know all the numbers but let me get this straight. If I had $50,000 which I invested 15 years ago and at its height it went to $300,000 --- then the bottom drops out and I'm back to my original $50,000 I've "lost" $250k? I'm sure this is at least partially happened with investments the Trustee's had. If you do not take into account the amount of donations and the rest of the numbers it is very easy for Bobo to mislead you.
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