#1954: Marine Links Serco’s Crony Bailout Bank to WTC7 Crossed Keys Pass Through Fraud
Plum City – (AbelDanger.net). United States Marine Field McConnell has linked Serco director Maureen Baginski’s Bank of America cronies who bailed out Serco in its cash flow crisis to the Crossed Keys demolition of WTC#7 and an associated pass-through insurance fraud.
McConnell alleges that Serco – fined in U.K. for fraudulently tagging Crossed Keys prisoners – set up the simulation-tracking facility in the EEOC office on the 18th Floor of WTC#7 which allegedly allowed Serco clients to track and simulate the explosives, whether transported by plane or by elevator, needed to “pull” the building and trigger phony claims on Bank of America pass-through certificates in a massive money-doubling insurance fraud on Lloyd’s Names.
McConnell claims Serco mustered the Crossed Keys demolition crew on the 18th Floor of WTC7 in a seditious conspiracy with the late Leonora Guarraia, the former COO of the Equal Employment Opportunity Commission, and Guarria’s lesbian lover and McConnell’s sister, Kristine Marcy, former COO of the U.S. Small Business Administration and provider of the loan guarantees used by Serco protégés to finance the Crossed Keys attacks of 9/11.
“Serco ‘lost traction’, admits new boss Rupert Soames
Chief executive encouraged by investor support for £160m fundraising on his first day as he outlines his review plan for outsourcer Serco
By James Quinn, Executive Business Editor
6:24AM BST 02 May 2014
The new chief executive of troubled outsourcer Serco admitted the company “lost traction” in recent years as he set out plans for a major strategy overhaul.
Rupert Soames, who took the reins of the FTSE 250 company on Thursday, said “the appropriate way ahead from here may not be the appropriate way five years ago”.
“When it’s gone from £400m of revenues a year to £4.6bn a year, it’s time to look again at what it does,” he said.
Talking to The Telegraph, Mr Soames, however, denied the company had lost its way, saying: “If it loses its way, it’s gone through some fertile thickets on the way.”
He made the comments on the back of a successful overnight placing, in which the company raised £160m at 320p a share, a slight discount to the 340.1p closing price on Wednesday night.
Serco raises £160m in placing to bolster finance
01 May 2014
Serco launches £170m fundraising on back of third profit warning
30 Apr 2014
Serco shares slump after profits warning
The fundraising, led by brokers Bank of America Merrill Lynch and JP Morgan Cazenove, was three times oversubscribed, with a mixture of new and existing investors backing the placing.
“I’m delighted by the quality of investors … chuffed to the back teeth,” said Mr Soames.
The placing is designed to give the company some financial headroom to allow Mr Soames to undertake the strategic review without having to initiate a fire sale of core assets.
The fundraising was announced on Wednesday night, alongside Serco’s third profit warning in six months and news that Andrew Jenner, the company’s chief financial officer for the past 12 years, is to depart once a replacement has been found.
Asked if he was surprised that his arrival began with such a flurry of negative news, Mr Soames said: “There’s no point blubbing about it.
“It’s not as if I didn’t know there were going to be difficulties, it’s just the order of how many tomatoes that are going to be thrown at you.”
He said however that he was “delighted” at the reaction from investors to the placing. Shares in Serco closed off 0.1p at 340p, 20p above the placing price.
The former Aggreko chief executive said that, having spent all of yesterday talking to investors, the biggest gripe remained the continued profit warnings.
The company said on Wednesday that adjusted operating profit at constant currency rates would be not less than £170m, down from £220m to £250m just seven weeks ago when it published its results for 2013.
The downgrade was the result of new terms on its Northern Rail train franchise, fewer contract wins and costs related to the closure of its Australian garrison support business.
That £170m figure could be reduced yet further – some £15m lower – based on current rates of exchange, Serco went on to warn.
The warning was the latest in a line of bad news for the company, which lost a £40m government tagging contract last year after it was found to have charged for dead offenders and some [Crossed Keys saboteurs] who were in prison.
As a result, it was prohibited from bidding for government work until January, booked £90m in exceptional charges, and saw profits fall by 62pc last year.
Mr Soames said that his strategic review was vital to take the company forward, and he pointed to the fact that at Aggreko [the provider of Crossed Keys temporary power for Obama’s bogus inauguration] he carried out such a review every five years.”
Larry A. Silverstein was appointed a director of Westfield America in May 1997. Since 1979, Mr. Silverstein has been President of Silverstein Properties, Inc., a Manhattan-based real estate investment and development firm which owns interests in and operates over 10 million square feet of office space. Mr. Silverstein is a member of the New York Bar, and a Governor of the Real Estate Board of New York, having served as its Chairman. He is a trustee of New York University and is the founder and Chairman Emeritus of the New York University Real Estate Institute. He is Chairman of the Realty Foundation, Vice Chairman of the South Street Seaport Museum, and a board member of the Museum of Jewish Heritage.
BLACKSTONE ACQUIRES DEBT ON 7 WORLD TRADE CENTER
New York, NY October 17, 2000: Blackstone Real Estate Advisors, the global real estate investment and management arm of The Blackstone Group, L.P., announced today that it has purchased, from Teachers Insurance and Annuity Association, the participating mortgage secured by 7 World Trade Center, a commercial office complex controlled by real estate developer Larry Silverstein”
[http://burningbush.netfirms.com/TIAA-CREF.html — link expired] Factsheet on Teachers Insurance and Annuity Associaion (TIAA) (note: Joseph W. Luik is probably the guy who brokered the deal for TIAA)
“But before the building can rise further than the substation, major financing issues have to be resolved by Larry Silverstein, who controls the long-term lease on 7 World Trade Center as well as the World Trade Center complex. The good news for Mr. Silverstein is that the company that insured 7 World Trade, Industrial Risk Insurers, has indicated that it will make a full payment under its $861 million policy. But it’s not clear whether Mr. Silverstein can use those proceeds to start building without first reaching an agreement with the mortgage holder on 7 World Trade Center, Blackstone Real Estate Advisors.”
“Bank of America reportedly holds the loan on 7 World Trade Center.”
“Fitch placed classes of Banc of America LL, Inc. Series 2001-7WTC on Rating Watch Negative due to the increased likelihood that the building will be rebuilt in the near future, using insurance proceeds. The transaction is secured by the beneficial ownership interest in a trust that owns a loan secured by certificates owned by Blackstone Real Estate Partners III LP through related entities representing ownership interest in another trust secured by four mortgages originally totaling approximately $449.4 million on a leasehold interest in 7 World Trade Center. It now appears, due to the urgency to rebuild the ConEd substation, that 7 WTC will be rebuilt in the near future and that, in effect, the bondholders may take on the increased risks of construction lending. It is still possible that bondholders will be repaid prior to construction, because the existing mortgages have a relatively high interest rate and less expensive financing alternatives may be available. Due to political forces surrounding the continued viability of lower Manhattan, Fitch believes that the city will use its best efforts to aid Silverstein in attracting high quality tenants to the building. However, Fitch believes that the cash flow that existed prior to the destruction of 7 WTC will not be replicated, particularly due to the projected substantial reduction in building size.”
“According to BestWire, Employers Reinsurance Corp’s Industrial Risk Insurers has agreed to pay a claim for 7 World Trade Center, but a final price has yet to be settled. Some of the insurance proceeds will be used to pay off bondholders who bought part of the building’s US$383 million mortgage. Larry Silverstein, the building’s developer and leaseholder of the WTC twin towers, has said the claim for 7 World Trade Center will be US$861 million [they doubled their money!!!!]”
Aon Risk Bulletin, July 2002”
“Message from Chair Jacqueline A. Berrien on the 10th Anniversary of 9/11
September 11, 2011
Dear EEOC Colleagues:
Ten years ago, like so many people across the United States and the globe, I was shocked and sickened to witness the destructive force of the terrorist attacks on the World Trade Center in New York City and the Pentagon in Northern Virginia, and the fatal crash in Shanksville, Pennsylvania of an airplane en route to an unknown target in Washington, DC. The images of danger and suffering associated with September 11, 2001 are an indelible part of our national memory. As the nation solemnly observes the 10th anniversary of the 9/11 attacks, many of us will pause to honor the memories of the victims of this senseless violence and convey condolences to their surviving family members and friends. And of course, the selflessness and bravery of those who risked their own health and safety in order to help others during the attacks must never be forgotten.
I also believe, however, that it is important to remember that countless acts of compassion and courage followed closely behind this unprecedented tragedy, and ultimately helped to restore to survivors and witnesses a measure of faith that we would somehow, someday recover from the grief and loss that we experienced collectively on September 11th. In that spirit, I am taking this opportunity to recall the extraordinary resilience and fortitude of the EEOC employees who worked in offices located near the sites of the attacks, and the compassionate and swift response of EEOC staff across the country who mobilized to support their colleagues in the wake of 9/11.
As many of you know, but those who have come to the EEOC in the past decade may not, in 2001 the EEOC’s New York District Office was located on the 18th floor of building 7 of the World Trade Center complex, only a few hundred yards from the Center’s twin towers. Thanks to the skill and courage of the evacuation team, our employees were safely evacuated from 7 World Trade Center. However, shortly after they made it out of the building, many witnessed firsthand the total destruction of the towers that stood directly across from their offices. While there were, thankfully, no physical injuries or deaths among our staff, Philadelphia District Office Director Spencer Lewis, who was then serving as Director of the New York District Office, said that the “emotional toll [wa]s unimaginable.” In our Washington, D.C. offices, all employees were safely evacuated after the Pentagon was hit. However, reported threats that other government buildings — including the White House and Capitol – were slated for attack kept anxiety high in Washington for the entire day, and indeed for a long period after September 11th.
On the afternoon of September 11th, several hours after the collapse of the towers, 7 World Trade Center, the home of our New York District Office, also collapsed. Our employees’ personal effects and all of the agency’s files, ork products and equipment were completely destroyed in the collapse. Incredibly, New York City firefighter John Misha later recovered the agency seal from rubble at the scene of the collapse. The recovered seal remains on display today – battered, yet miraculously intact – in the entry to the New York District Office.
In spite of the catastrophic losses suffered in New York, within days of the attacks, EEOC began the painstaking work of reconstructing files and reproducing the work product that was buried under the rubble of 7 World Trade Center. Significantly, many offices and staff across the country pitched in to ease and expedite the recovery effort. Intake calls were re-routed to Boston, Massachusetts; temporary offices were housed in Newark, New Jersey; “care packages” were sent from employees in Houston, Texas to their colleagues in New York; and to buoy depressed spirits, EEOC staff across the country sent supportive messages and placed calls to the New York District Office staff.
The remarkable pace of the restoration of normal operations is memorialized in agency press releases: on September 12, 2001 an EEOC press release announced, “EEOC New York Office Destroyed in Terrorist Attack on World Trade Center”; only 16 days after the attacks, the agency announced that the New York District Office would resume partial operations the following week; and a little more than a month after the attacks, the press was informed that the EEOC “re-opened for business at a temporary Manhattan location, restoring essential agency services to residents of the New York area.” None of this would have been possible without the concerted effort and tireless support of many members of our staff and the commitment of Chair Cari M. Dominguez to the swift and complete restoration of the New York District Office’s operations after 9/11.
On this occasion, I believe that it is also fitting to recall how quickly and effectively EEOC employees addressed novel workplace discrimination issues that arose in the aftermath of the 9/11 attacks, and to consider the continuing significance of that work to the agency and the Nation. While the terrorist attacks inspired countless acts of heroism and goodwill throughout our nation, unfortunately, many religious, ethnic, and national origin minorities became the victims of pernicious discrimination in the workplace. In the initial months after the attacks, the EEOC saw a 250 percent increase in the number of religion-based discrimination charges involving Muslims and persons of Middle Eastern descent.
Responding quickly, the EEOC began a targeted outreach campaign aimed at educating employers, civil rights organizations, and members of religious groups on employee and employer rights and responsibilities under the law and how to prevent religious and national origin discrimination in the aftermath of 9/11. Within days of the terrorist attacks, Chair Dominguez issued a press release “call[ing] on all employers and employees across the country to promote tolerance and guard against unlawful workplace discrimination based on national origin or religion.” The Commission also held a public meeting in December 2001 on 9/11 backlash discrimination and best practices to prevent and address this type of discrimination in the workplace.
Today, despite the best efforts of the EEOC and many enforcement partners, we continue to see more charges involving religious discrimination and national origin discrimination against Muslims and people who are or are perceived to be from Middle Eastern nations. As a result, in addition to our general outreach and education efforts to ensure the Nation’s laws prohibiting employment discrimination on the basis of religion and national origin are vigorously enforced, the EEOC has continued to work closely with stakeholders most affected by backlash discrimination to ensure that both employees and employers are aware of their rights and responsibilities.
Looking toward the future, I have asked Commissioner Ishimaru to lead a task force to examine immigration related employment issues. This group will evaluate and make recommendations to improve EEOC’s and the federal government’s accessibility to immigrant communities and more effectively coordinate our enforcement, litigation, outreach and education efforts related to national origin discrimination.
In observance of the 9/11 Anniversary, I have asked the Office of Communications and Legislative Affairs (OCLA) to release a public statement on EEOC’s enforcement activities post-9/11 and re-release a statement by Spencer H. Lewis, Former Director of the New York District office entitled, “The Impact of September 11, 2001: New York’s Experience.” Both are referenced in this statement, but I encourage you to read them in their entirety on our website page dedicated to 9/11.
Throughout this week, in your homes, places of worship, offices, and neighborhoods, you may observe a moment of silence, participate in memorial services, or otherwise take a break from your daily routine to remember the victims and express support for the survivors of 9/11. As you do so, please reserve a special moment in your thoughts and prayers for your colleagues in the EEOC whose lives were changed forever by what they witnessed and experienced ten years ago today. Finally, I hope that you will join me in honoring the exemplary manner in which the EEOC responded to one of the most difficult periods in the history of the agency and the nation.
Sincerely and with deepest gratitude,
Jacqueline A. Berrien
“Serco GPS Solutions [for simulation tracking of crime scene assets]
GPS III Capability Development Document (CDD)
GPS III Initial CDD (iCDD)
Military GPS User Equipment (MGUE)
CDD Enabling Concept for GPS
GPS Enterprise Test and Evaluation
Master Plan (TEMP)
GPS Operational Requirements Document (ORD)
Distress Alerting Satellite System (DASS) CDD
GPS III Concept of Operations (CONOPS)
USSTRATCOM PNT Joint Capabilities Document (JCD)”
McConnell has been directed by Abel Danger Global to offer expert witness services to plaintiffs who decide to sue for damages in re Serco’s apparent use of Crossed Keys demolition crews to “pull” WTC#7 and trigger a Bank of America pass-through insurance fraud on Lloyd’s Names.