Auburn/Cam Newton situation (merged)

#1,178
#1,178
I never said there was a connection. I said the FBI had wire taps on big money folks in the state. If conversations occurred involving that money then the FBI has tapes
 
#1,183
#1,183
Velo Vol said:
Interesting, but what is the connection to Auburn? Or any school, for that matter?
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the guy donated $1 Million to the Auburn Ath Dept. They named a building after his daughter.

He is best buddies with the Yella Wood guy and the Colonial Bank Fraud CEO who both happen to be on the Board of Trustees at Auburn

You see where its going?
 
#1,185
#1,185
I hadn't thought about the gambling investigation being related to this - haven't seen anything in the local news about such a connection.
 
#1,187
#1,187
VolsNSkinsFan said:
the guy donated $1 Million to the Auburn Ath Dept. They named a building after his daughter.

He is best buddies with the Yella Wood guy and the Colonial Bank Fraud CEO who both happen to be on the Board of Trustees at Auburn

You see where its going?
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Surely you're not suggesting Auburn's BOT is corrupt are you?
 
#1,188
#1,188
You know how they made 30 for 30 documentaries at ESPN?

I see this becoming a 40 for 40 documentary.
 
#1,190
#1,190
justingroves said:
Surely you're not suggesting Auburn's BOT is corrupt are you?
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Thats exactly what I am saying. Look at this article from Forbes in 2009

Bobby Lowder, the man behind Colonial Bank's failure - Oct. 12, 2009

After presentations from the audit and compensation committees, the focus turns to the school's 2010 budget and to Robert E. "Bobby" Lowder, the chairman of the finance committee and the longest-serving member of the board. Because of the ailing economy, Auburn is looking at a drop-off of close to $100 million in state funding from 2008 to 2010, and hard choices need to be made. "What we're facing here is a tough situation," says Lowder. "And it could get worse."

The same could be said of Lowder himself. On Aug. 14, just a few months after Lowder, 67, announced his retirement as CEO and chairman of Colonial Bancgroup, federal and state regulators took control of the company he had founded and spent 28 years building into a regional banking powerhouseThe seizure of Colonial's roughly 350 branches and $26 billion in assets -- the bulk of which were then handed over to BB&T (BBT, Fortune 500) of North Carolina -- made it the sixth-biggest bank failure in U.S. history, the worst this year, and the third largest since the beginning of the credit crisis that plunged the markets into turmoil in 2008. (Only Washington Mutual and IndyMac, which went under last year, were bigger.)

At an estimated cost of $2.8 billion to the Federal Deposit Insurance Corp., the Colonial collapse helped push the already depleted FDIC further into crisis mode. (In September, the FDIC proposed a plan to raise $45 billion to replenish its coffers.)

As Colonial's largest shareholder, with some 8 million shares, Lowder personally lost $164 million on paper during the stock's plunge from its 2006 high to its delisting from the New York Stock Exchange in August. To many of his enemies it's more than a little ironic that Lowder (pronounced "louder") has retained his role overseeing Auburn's finances.

And Lowder has made plenty of enemies over the years. His name might not be familiar outside Alabama, but he is easily one of the most feared, loathed, and some say misunderstood men to wield power in this state since George Wallace -- the governor who first appointed him to the board in 1983.

Lowder has been accused of making backroom deals with governors and treating the Auburn football program like a private fiefdom. (Because of his influence over Auburn's athletic program, three years ago ESPN named him the most powerful booster in college sports.)

At various times Lowder has been at war with Auburn's faculty, its student newspaper, its alumni association, and some of his fellow trustees -- developing a reputation along the way as a tyrant with a vindictive nature. It has been alleged that Lowder made a death threat to one board member he clashed with.
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From the time he joined the board of trustees, Lowder has shown a special interest in day-to-day operations, chairing an athletics committee of the board that met in private and, insiders say, calling coaches directly to mandate changes. And he has shown that he runs out of patience with football coaches just as he does with bank executives.

In 1998 Terry Bowden resigned as football coach with five games remaining in the season, despite a 47-17-1 overall record, after he was given the message that Lowder wanted him gone. Lowder denied any involvement. There was an outcry among alumni and students, but soon Bowden's replacement, Tommy Tuberville, was winning and the controversy subsided.

A few years after his resignation, however, Bowden gave an interview to local reporter Davis alleging that Lowder had organized a program in which wealthy alumni contributed cash to a slush fund to pay players to sign with Auburn.

Several people with knowledge of the system and Lowder's role in it told Fortune that Bowden was telling the truth and that they had seen a book with a list of the slush-fund donors. Again, Lowder would not comment for this story, and we could find no record that he had addressed this question in the past.
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#1,197
#1,197
justingroves said:
They do have Auburn degrees...
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Don't ever underestimate a large booster's arrogance into thinking he could flaunt such a book or listing and get away with it.

Then again, depending on the size of the contributions and the size of the entity making the donation, it could be buried in some company's books.

But even then, filthy rich boosters usually consider it an investment to the program to do stuff such as that and could care less about the write-ff benefit.
 
#1,199
#1,199
tigervol9802 said:
Don't ever underestimate a large booster's arrogance into thinking he could flaunt such a book or listing and get away with it.

Then again, depending on the size of the contributions and the size of the entity making the donation, it could be buried in some company's books.

But even then, filthy rich boosters usually consider it an investment to the program to do stuff such as that and could care less about the write-ff benefit.
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This isn't the first time Auburn has been shown to be dirty as hell.

Like you said, an arrogant jackass that likes to spend money is going to eventually flaunt it.

My "tax write off" was a joke by the way.
 
#1,200
#1,200
justingroves said:
This isn't the first time Auburn has been shown to be dirty as hell.

Like you said, an arrogant jackass that likes to spend money is going to eventually flaunt it.

My "tax write off" was a joke by the way.
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I'd not be surprised at all if some of them came through a miscellaneous or employee benefits expense line on a tax return, depending on who the boosters are and what they have.
 
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