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Colorado Springs attorney Lindsay Fischer has prepared a brief challenging the legality of the certificates of participation that the city intends to use to fund the proposed U.S. Olympic Committee deal.

Fischer, who also represents Central Bancorp chairman Ron Johnson in his complaint filed with the city Ethics Commission about Mayor Lionel Rivera, said that these COPs would be multi-year obligations, and as such must be approved by voters.

Continue Reading Fischer to challenge COPs

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As City Councilman Bernie Herpin predicted several weeks ago, the new U.S. Olympic Committee deal is very much like the old USOC deal, except that the city is now the only paymaster.

The cost of the deal: more than $50 million. Continue Reading City pays, USOC stays

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Early this afternoon, City Councilman Bernie Herpin confirmed that Colorado Springs and LandCo have resolved their lawsuit.
Continue Reading LandCo, city reach resolution of lawsuit

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USOC, or US no see?

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Will there be, as rumored, a presentation about the newly minted U.S. Olympic Committee deal at today’s informal City Council meeting? The answer is yes, no or maybe.  Here’s what the agenda says. “In accord with the City Charter Art. III, §3-60(d) and its incorporated Colorado Open Meetings Act, §24-6-402(4)(a,b,e), C.R.S., the City Council, in Open Session, is… Continue Reading USOC, or US no see?

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Mayor Lionel Rivera apparently never told his fellow City Council members that he had a fiduciary relationship with LandCo Equity Partners CEO Ray Marshall. The relationship was revealed this morning during a hearing conducted by the city’s Independent Ethics Commission. John Cook, an attorney who has represented Marshall, told the commission that Rivera had been… Continue Reading Vice mayor: council never told about Rivera, Marshall link

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In an unanticipated development during Friday morning’s Independent Ethics Commission hearing, John Cook, a lawyer who has represented LandCo’s Ray Marshall in multiple lawsuits filed by Colorado Springs investor Jack W. Mason, confirmed that Mayor Lionel Rivera had been Marshall’s financial adviser at UBS from 2005 to early 2008. Cook came forward after attorney Lindsay… Continue Reading Lawyer confirms relationship between Rivera, Marshall

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By Becky Hurley and John Hazlehurst   The U.S. Olympic Committee and the city are near agreement on a renegotiated deal that would ensure the USOC’s continuing presence in Colorado Springs. A high-ranking USOC official, who requested anonymity, characterized yesterday’s announcement that LandCo Equity Partners had dropped its lawsuit against USOC as “a positive step… Continue Reading New USOC deal nearing completion?

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LandCo Equity Partners and the U.S. Olympic Committee said today that they have resolved all disputes relating to the USOC and LandCo’s relationship as part of the project to retain the USOC in Colorado Springs. Because they resolved these disputes, LandCo dismissed the USOC from its lawsuit captioned LandCo Equity Partners, LLC et. al. v. The City… Continue Reading LandCo drops suit against USOC

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The SportsBusiness Journal reported today that Bank of America has ended its 16-year sponsorship of the United States Olympic Committee. The bank is the third major sponsor to leave the USOC during the last 18 months. Home Depot and now-bankrupt General Motors have also withdrawn. A spokesman for Bank of America attributed the company’s decision to… Continue Reading Bank of America terminates USOC sponsorship

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On May 29, 2007, Citigroup stock ended the day at $50.28, little changed from the day before. One hundred and three weeks later, on May 22, 2009, Citigroup closed at $3.67, up slightly from its last close. The story of Citigroup’s long fall from international behemoth to beached whale has been told often enough. But… Continue Reading Time to play hard ball, not beg and grovel at altar of the USOC

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