Tuesday, March 31, 2009

Docs 4 Us

The Louisiana Justice Institute won a court case minor standoff with the city after threatening a lawsuit and has come into a small cache of pretty sweet documents. They ain't quite ready for nolapublicrecords.org, but they're available for your viewing pleasure here.

We've got ourselves a bunch of financial disclosure statements to troll through.

I've done a cursory browse through some of the 2007 filings, which I believe were required to have been completed by the end of July of 2008.

It appears that Mayor Nagin may not have completed his 2007 form until March 30th, 2009: the date of the legal decision to release the documents to LJI.

That's when his statement was signed and notarized at least. But perhaps we shouldn't condemn him for late signing since he was not the only one to do so.

The thing on Nagin's sparse form that raises the most questions for me is this:



It's tough to read but Nagin discloses his association as a "passive investor" to Stone Age LLC, which is the Nagin family granite counter top company that got that exclusive deal with Home Depot. What's interesting here is that in Nagin's 2007 filing, under "amount of interest," it says that that Stone Age LLC "ceased operations 1/09."

Doesn't quite explain what the company earned in 2007 now does it?

To compare, his 2006 form lists amount of interest from Stone Age as "40% collective," and was signed in August of 2007, which seems closer to appropriate.


So it's pretty obvious that he just filled out his '07 financial disclosure requirement, like, yesterday.


Check out some of the other financial disclosure forms at LJI's website. Midura's are not there for some reason and Clarkson's '06 forms are missing. But everything else from everybody else is available for your sleuthing pleasure.

UPDATE: Councilor Midura's records have been added now.

6 comments:

Clay said...

Could it have killed them to either scan it a little better?

Clarkson wasn't elected yet for the 2006 disclosures, I believe.

E said...

Oh that's right. She was elected in '07.

Civitch said...

Nagin's 2006 disclosures indicate a 40% ownership in Stone Age.

From the nola.com article at the time all this surfaced:

"Loyola Law School professor Dane Ciolino, who specializes in ethics questions, said the arrangement would run afoul of state ethics laws if Nagin's stake in Stone Age is 25 percent or more."

E said...

You nailed it Civitch!

Clay said...

http://www.nola.com/news/index.ssf/2009/03/mayor_ray_nagins_ownership_of.html

Yep, violated ethics laws.

Anonymous said...

Nagin left some out: AFO Investments LLC with David A. White and the owner of Byblos (and Camelia Grill); and Black Cat Productions LLC. I guess Value Rental Car LLC and Value Leasing LLC are no longer in business?

And Seletha Nagin has a non-profit. Admittedly perhaps it does not belong on the financial disclosure form (or does it?), and maybe it's defunct (is it?), but Seletha was the Director for something called "The Center For Renewal and Equity Foundation," along with (of course) David A. White and someone named Marc G. Shachat, who apparently is Jim Carvin's son in law. Shachat was also a founder of something called the "Warren Riley Campaign Fund" (what the heck was that?).

Are these all defunct now?

As for MBS Investments, which he does list, would love to know what "passive real estate investments" he's made in NO property, especially since a certain damnable event in August 2005 created an abundance of incredibly underpriced or devalued properties for anyone who know where and how to find them faster than others? That looks like an 800 lb. question mark on that form.

http://bestofneworleans.com/gyrobase/Content?oid=oid%3A50295

http://www.louisianajusticeinstitute.org/files/all/Nagin_2007.pdf