The N&R had a big front-pager yesterday by Taft Wireback* on former Northern Guilford and current Oak Ridge Military Academy basketball coach Stan Kowalewski’s troubles with the SEC.
Pretty cool deal, selling your own house to your own company with the assurance that it’s an undervalued property that “would reap great rewards for investors.”
But here’s what jumped out at me:
Kowalewski’s testimony in November did not mention any Greensboro investors in his funds, which seek such institutional investors as hospitals and company retirement plans.
Asked about a $700 tab from a Summerfield restaurant last January, he said it covered meals at which he sought business from potential local investors such as Greensboro College, Guilford College and the Community Foundation of Greater Greensboro. All said last week they have no money invested through SJK.
Interesting that Greensboro College would even hear Kowalewski’s pitch, considering the financial problems they were having a couple of years ago. By that time, Kowalewski’s controversial departure from Northern Guilford had been well-publicized.
*I’ve cracked on Taft Wireback for his enviro-slant on a lot of articles, but he’s still a solid veteran reporter.
