Wednesday, January 16, 2002

What's the Buzz?


Broker to pay fine over sales

By Cliff Peale
The Cincinnati Enquirer

        Accused of helping his company sell $800,000 in unregistered securities to Northern Kentucky investors, one local broker has settled for a $4,000 fine.

        Paul Suchanek, who sold securities in several companies for Global Financial Strategies in Fort Wright, reached the settlement last week with the Kentucky Division of Securities.

        The securities sold by Mr. Suchanek included First International Bank of Grenada, which is the subject of a fraud investigation and is under receivership.

        Greg Ballard, another owner of Global Financial Strategies, is negotiating a deal, said his lawyer, John West. A third owner, Brian Perkins, did not respond to the charges, officials in Frankfort said.

        “It doesn't really help the investors get their money back,” said Colleen Keefe, director of the Kentucky Division of Securities. “It's not like there's a lot of money out there to be grabbed.”

Senior Classic's impact big

        The average golf fan spent $491 on hotel rooms and $292 on food and drink during the Kroger Senior Classic last year.

        That adds up to almost $14 million in economic impact for the annual tournament at the Golf Center at Kings Island, a new study shows.

        That should grow this September, when the event moves to the new Tournament Players Club at River's Bend course in Maineville. Tournament director Margie French says she's got more interest in tickets and sponsorships.

        Montgomery Inn is sponsoring the Junior Pro-Am, and U.S. Financial Life Insurance Co. is sponsoring the Ladies' Skins Game.

Lindner firms lent to teams

        There will be a lot of gnashing of teeth over Major League Baseball commissioner Bud Selig's 1995 loan from a company controlled by Minnesota Twins owner Carl Pohlad.

        But don't expect any criticism from Cincinnati Reds owner Carl Lindner.

        The $3 million loan has drawn howls because Mr. Selig, then owner of the Milwaukee Brewers, did not disclose it. Now, he is trying to eliminate the Twins and one other team, a “contraction” that could mean a pretty big check for Mr. Pohlad.

        Mr. Lindner's American Financial Corp. has lent money to owners of major-league sports franchises. And Provident Bank, where the Lindner family is the major shareholder, has lent to the St. Louis Cardinals, whose principal owner is Cincinnatian Bill DeWitt.

        But that was before Mr. Lindner bought a controlling interest in the Reds from Marge Schott in 1999.

        A major-league rule requires disclosure to other owners to avoid one team influencing another.

        Because Mr. Selig's loan was at a market rate, it doesn't raise any red flags for Mr. Lindner.

        “We don't see anything wrong with that,” a source close to the Reds owner said.

        E-mail Cliff Peale at cpeale@enquirer.com or call 768-8573.

       



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