Word: catawba
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...asked Wilkerson to send samples to be sold at a party. The prisoner netted $200 and has since sold some other artwork. He uses a typewriter in his cell for a widespread correspondence with, among others, some leaders in the American Indian movement. A grandmother of his was a Catawba Indian, and Wilkerson has grown intensely interested in this heritage and its culture. He has taken an Indian name, Ches-ne-o-na-eh, which translates as "the man who kills the wolves." Wilkerson suggests another meaning that this name could convey: "a beautiful being in a scarred world...
This arrangement has been profitable. Between 1974 and 1978, Catawba collected $6,106,283 in fees and $6.7 million in royalties from the six affiliates. The SEC said that Catawba could not always produce records that would justify the high fees it charged. Still, when the bills were presented to the controlled companies, they were readily paid. In many cases, the Catawba officials sending the bills also served as officers or directors of the companies receiving them and thus were authorizing payments for themselves...
...contended that some $525,000 in fees collected by Catawba from 1972 to 1978 actually was paid for time that Catawba officers and staff had spent on Catawba's financial transactions rather than on managing the other companies. Moreover, said the SEC, another $570,000 in such fees was spent on the upkeep of Great Elm, the 46-acre estate in Sharon, Conn., where the Buckley children grew up. Another $500 a month in fees was spent to help support a family member living in Texas...
...license to explore for oil and gas in the British North Sea. The Canso board sold its share in 1975 for $50 million plus $7 million in previous expenses. Canso's board then appointed two of its directors to make an "independent" study of what Canso owed Catawba in royalties on the oil It would have produced if It had not sold its rights. The two directors reported that Catawba was entitled to $3,196,000, a tidy sum that ended up going to the Buckley family. Canso, claimed the SEC, failed to inform its own shareholders that...
James Buckley tried to isolate himself from the family business by placing his holdings in a "blind trust" while a Senator from 1971 to 1976 and again when he joined the Reagan Administration. Yet until recently one trustee was Reasoner, a Catawba adviser. Buckley has since shifted the trust to independent managers. John Buckley, as well as Reasoner, is banned under the consent decree from continuing to hold any office in Catawba...