by Lorri Street, September 13, 2019
Each morning I ask my “Alexa”’ for a CNN and NPR news briefing. Once the news briefing is finished, “Alexa” provides a Word of the Day. One morning recently the word was “White Collar Crime.” Alexa defined it as “Refers to financially motivated nonviolent crime committed by businesses and government professionals. It was first defined by the sociologist Edwin Sutherland in 1939 as a crime committed by a person of respectability and high social status in the course of their occupation.”
This piqued my interest so I “Googled’ and found the following (excerpts) of the definition of White Collar Crime at the FBI website, “What we investigate – White Collar Crime.”
“The term white-collar crime is now synonymous with the full range of frauds committed by business and government professionals. These crimes are characterized by deceit, concealment or violation of trust and are not dependent on the application or threat of physical force or violence. The motivation behind these crimes is financial—to obtain or avoid losing money, property or services, or to secure a personal or business advantage.”
“Corporate fraud continues to be one of the FBI’s highest criminal priorities. As the lead agency investigating corporate fraud, the Bureau focuses its efforts on cases that involve accounting schemes, self-dealing by corporate executives and obstruction of justice.”
“The majority of corporate fraud cases pursued by the FBI involve accounting schemes designed to deceive investors, auditors, and analysts about the true financial condition of a corporation or business entity. Through the manipulation of financial data, the share price, or other valuation measurements of a corporation, financial performance may remain artificially inflated based on fictitious performance indicators provided to the investing public.”
Just struck a chord with me…
by Lorri Street, September 13, 2019
Karen Daigle Lundberg
09/13/2019 — 10:53 am
That is a very good observation, Lorri, and one that has not been processed much. You seem to have really educated yourself on it, and I, for one, agree with you that we should pursue this.
So my question to you is…you have got a really good idea with several options, so what are you going to do with this information? That seems to be the questions resounding on the Hot Springs Village People’s Facebook page, and people want us to stop talking and start walking….putting our thoughts into actions. I am working on about 5 different projects right now.
Please are asking and demanding action. Please let me know what actions you intend to take to handle this problem you have pointed out to us…which we appreciate.
Julie
09/13/2019 — 11:13 am
Not sure how white it is, but is a crime….
No one retires knowingly to a community where simple board meetings can’t be held without a massive police presence.
No one retires to a place with 9 poorly run golf courses that lose millions and millions of dollars.
No one retires to a place where the employees have such ridiculous job titles that defy any understanding.
No one retires to a place with a crazy, half-baked lunatic making more than the governor of the state and who seems intent on destroying the very fabric of the place without delay.
No one retires to a place where inept, frustrated, former military career guys become board members so they can finally leave a legacy of further ineptitude.
No one retires to a place that bills itself as a gated community but is, in fact, so porous as to be laughable.
No one retires to a place where the police chief constantly reminds us all of the many things he is unable to do about the lax security rather than actually doing anything. Come on in – we’re open for anyone to use our amenities. No charge.
No one retires to a place that can’t figure out how to contract for projects that don’t end up a disaster (gates, thermal cooling, dredging, etc, etc.) and a complete and total waste of money.
No one retires to a place where the CEO can successfully direct the local paper to not report on anything unfavorable regarding the board or the POA management.
No one retires to a place that illegally holds secret meetings, illegally conducts improper committee meetings, and illegally silences members of the community.
No one retires to a place that has waffle cone vendors on the beach for the non-resident “guests” to enjoy.
No one retires to a place that can’t operate a single restaurant without losing money.
No one retires to a place that signs secret, multi-year, money-losing contracts with shady outfits like Troon that result in nothing but more lost money.
No one retires to a place where property values decline on a regular basis year after year after year.
No one retires to a place that leaves dozens and dozens of rusting culverts ready to collapse in place but builds a crummy little outdoor cocktail pool that is only used 1/4th of the year for twice what it would cost if anyone knew how to contract.
No one retires to a place that raises fees on every possible thing you might ever want to do every single year. Fees that reduce the use of the amenities and that result in less income, not more.
No one retires to a place where the management hides behind their desks and never openly engages with the very people paying their salary.
No one retires to a place that loses every single change they had proposed to our bylaws and then acts like that vote never happened and goes about making the changes anyway.
No one retires to a place that spends massive amounts of money to “fix” an old, dilapidated, run-down, leaking golf clubhouse only to have a newer run-down leaking golf club house that loses money and that few people even use.
No one retires to a place that proposes to throw 6 million dollars they do not have to “fixing” an old, tired, and run-down golf course that doesn’t draw enough players to even break even.
And no one ever retires to a place that pays $500,000 for a crummy, ill-planned, inane, asinine, sophomoric, boilerplate document from some crazy outfit in Florida that is absolutely guaranteed to destroy what we have if ever implemented.
Not a single soul.
Tom Blakeman
09/13/2019 — 12:12 pm
Beautifully stated, tragically sad.
Erin Voletta Chavis
09/13/2019 — 2:07 pm
Julie, had I known all this BEFORE I made my home purchase, I would have NEVER bought this property.
Jerry Jay Carroll
09/14/2019 — 12:12 pm
Wonderfully put and thank you for using your name.
Kathy Henderson
09/13/2019 — 6:08 pm
Well stated Lorri! Julie-you are so adept in your written word! Would love to do lunch with you some day.
Julie
09/29/2019 — 4:11 am
I would too but am busy getting my place ready to list.
Brenda
09/13/2019 — 11:12 pm
Julie, you hit all the nails on the head! Well thought out and so unfortunately true. I just hope one day we will have a Manager and board who will do right for our Village paradise.
Anonymous
09/14/2019 — 11:54 am
Julie. yes