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Response from Hatch. You won't like it.

Strattocaster

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Dear Brian,

Thank you for your thoughtful message.

"Doing things the right way" remains a very accurate way to describe our philosophy here, whether applied to athletics or to anything else for that matter. *By policy, Wake Forest does not comment on personnel matters. *But, I remain confident in Ron Wellman's vision and experience and his leadership.

I value your continued support and hope that you will find every reason to be proud of Wake Forest.

Again, many thanks for your message.

Sincerely,
nathan O. Hatch

PresidentWake Forest University
P. O. Box 7226
Winston-Salem, NC 27109----------

Forwarded message ----------From:*Stratton, Brian<brian.stratton@bluecoat.com>Date:*Wed, Oct 9, 2013 at 11:06 AMSubject: Wake Forest still values integrity. correct?To: "hatch@wfu.edu" <hatch@wfu.edu>Cc: "donna.boswell@hoganlovells.com" <donna.boswell@hoganlovells.com>, "bburchfield@mwe.com" <'bburchfield@mwe.com'>, "DLambert@jlco.com" <DLambert@jlco.com>, "jwilliams@brookspierce.com" <jwilliams@brookspierce.com>, "ddupree@thehalifaxgroup.com" <ddupree@thehalifaxgroup.com>, "groach@smithlaw.com" <groach@smithlaw.com>, "mitesh.shah@nobleinvestment.com" <mitesh.shah@nobleinvestment.com>, "dwahrhaftig@kelso.com" <dwahrhaftig@kelso.com>, "rbell@wcsr.com" <rbell@wcsr.com>, "pbrockway@brockwaymoran.com" <pbrockway@brockwaymoran.com>, "lahopkin@wakehealth.edu" <lahopkin@wakehealth.edu>, "jrlowden@newcastle-partners.com" <jrlowden@newcastle-partners.com>, "info@rossercapitalpartners.com" <info@rossercapitalpartners.com>, "lbissette@mwbavl.com" <lbissette@mwbavl.com>, "jburton@burtonemploymentlaw.com" <jburton@burtonemploymentlaw.com>, "dflow@flowauto.com" <dflow@flowauto.com>, "ahunt1@bloomberg.net" <ahunt1@bloomberg.net>, "oconjm9@wfu.edu" <oconjm9@wfu.edu>, "jbaker@baasearch.com" <jbaker@baasearch.com>

Dr. Hatch,*

I am writing you again to voice the concerns that many Wake supporters share about the current actions of the athletic dept.*

As you know, Mr. Wellman listed “culture change” and “doing things the right way” as his reasons for retaining Jeff [Redacted].* Even though the athletic department’s overall performance has been dead last in the ACC the past 3 years (set a record low last year) and [Redacted] has the worst ACC winning percentage in the past 40 years, supporters could somewhat stomach the obvious “culture change” and “doing things the right way” spin.* This completely changed when we recently learned that Randy Casstevens has been the athletics department finance director for over a year now.* Casstevens alleged actions at Krispy Kreme have been well documented. *I don’t need to list them here.*

Many Wake alumni/supporters have been pro Ron Wellman in the past. For most of his time at Wake, he has done a lot of good.* Unfortunately, his actions over the past few years, in our opinion, demonstrate that he no longer shares the values/best interests of Wake Forest.*We once again request that you and the BOT take action in this matter.

I personally believe that you are a man of high character and will do what is right.*

Feel free to contact me to further discuss.*

Warmest Regards,
Brian Stratton

Honor System at Wake Forest

“The honesty, trustworthiness, and personal integrity of each student are integral to the life and purposes of the Wake Forest community. This statement is embodied in one of our oldest traditions, and that is the honor system (honor code). When a student signs an application for admission to Wake Forest, they agreed to live by the honor system at Wake Forest. In specific terms that means that you and every other student have agreed not to deceive (lie to) any member of the community, not to steal from one another, not to cheat on academic work, not to plagiarize academic work, and not to engage in any other forms of academic misconduct. It means that we can trust each other, and that we willingly accept responsibility for our own conduct and activities. This is a tradition that goes back to the founding of Wake Forest, and with your participation, it continues to be a cornerstone of our community and our interactions with one another.”**

Sent from my SCH-I545 using Tapatalk 2
 
of course he would "no comment" you. you shouldn't be surprised by this.
 
Even the state responded to Andy Dufrense and gave the prison new books in order to make him stop sending a letter every day.
 
I've e-mailed Wellman before, so I'm just as stupid as anybody, but what does anyone think will come of e-mailing Hatch or Wellman? Honestly, what do we expect them to say, "Yeah Statts, I think Ron Wellman sucks too! Love, Dr. Hatch." It's no different than e-mailing a politician, all you're going to get is a canned response saying they appreciate your concern. That would be case if Hatch was planning on canning Wellman in the morning.
 
Even the state responded to Andy Dufrense and gave the prison new books in order to make him stop sending a letter every day.

But Andy didn't stop.
 
Maybe it's just me, but I think trying to play the Casstevens card to attack Wellman is pretty weak sauce when the problems are really athletic management issues. It's certainly "an" issue, but it's merely a tangential one.
 
Maybe it's just me, but I think trying to play the Casstevens card to attack Wellman is pretty weak sauce when the problems are really athletic management issues. It's certainly "an" issue, but it's merely a tangential one.

Pardon my ignorance on this, but exactly what was this Casstevens fellow guilty of? I've seen it has something to do with the books while he was with Krispy Kreme, but haven't heard the exact details.
 
Long story short... He cooked the books to make KKD look more profitable than it really was, which increased their stock price, which was all well and good until the scam was found out and thousands of "normal" investors lost their hats.

Casstevens, Livengood (don't eat at Dewey's because of this slimeball), and Tate all made out like bandits though as they were betting against the company at the same time as making it appear the company was growing at an outrageous pace.


Some light bathroom reading for you, if interested.
http://www.sec.gov/litigation/complaints/2009/comp20923.pdf


Your highlight:
When Krispy Kreme ultimately did disclose disappointing earnings and lower its future earnings guidance in the first quarter of its 2005 fiscal year, the closing share price of Krispy Kreme’s stock dropped 29% in a single day, erasing over $590 million in shareholder value.

 
Last edited:
Long story short... He cooked the books to make KKD look more profitable than it really was, which increased their stock price, which was all well and good until the scam was found out and thousands of "normal" investors lost their hats.

Casstevens, Livengood (don't eat at Dewey's because of this slimeball), and Tate all made out like bandits though as they were betting against the company at the same time as making it appear the company was growing at an outrageous pace.


Some light bathroom reading for you, if interested.
http://www.sec.gov/litigation/complaints/2009/comp20923.pdf


Your highlight:


Thanks. So, let's see Wellman preaches culture and then hires a guy with this skeleton????
 
Long story short... He cooked the books to make KKD look more profitable than it really was, which increased their stock price, which was all well and good until the scam was found out and thousands of "normal" investors lost their hats.

Casstevens, Livengood (don't eat at Dewey's because of this slimeball), and Tate all made out like bandits though as they were betting against the company at the same time as making it appear the company was growing at an outrageous pace.


Some light bathroom reading for you, if interested.
http://www.sec.gov/litigation/complaints/2009/comp20923.pdf


Your highlight:

Probably not an important detail, but from my reading of the pdf I don't think they bet against the company (ie shorted the stock). But they did sell shares they owned after artificially pumping up the company's stock.
 
Probably not an important detail, but from my reading of the pdf I don't think they bet against the company (ie shorted the stock). But they did sell shares they owned after artificially pumping up the company's stock.

Yeah, wrong terminology on my part, I guess. But they did get out while the getting was good to maximize their personal profits with their insider knowledge that the numbers were bullshit.
 
The big thing they did was some accounting voodoo to pump up quarterly numbers which triggered bonuses for the executives and artificially inflated the stock price.
 
Keep emailing Hatch until he breaks Stratt. Just be creative w it. Passive then aggressive. You know the game...
 
The big thing they did was some accounting voodoo to pump up quarterly numbers which triggered bonuses for the executives and artificially inflated the stock price.

I'm not a lawyer/financial sector guy. I know what my buddies Amos and Micah would say about him. Shouldn't he be in jail for this?

sent from my Galaxy Note II via Tapatalk 4
 
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