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czxabdullah

06/05/15 2:48 PM

#33226 RE: onemessageonly #33217

There were no unpaid vendor lawsuits until after CVSL.
When CVSl took over Kelly Kittrell became CFO of Longaberger.
He had been with Rochon for many years.

The taxes on the basket were current until after the june 2013 bill.

Kittrell resigned as CFO in March.
The Columbus Dispatch reported about the material weaknesses the auditors found.

With Longaberger to get the whole picture you need to understand the history.
In the early 90's the company begand to aquire massive amounts of land bewtween Licking and Muskingum counties.
The company planned a multi phase resort arm.
This was launched because by 1997 the town of Dresden was seeing upwards of 2 million visitors per year to the Longaberger factory and gift shops.
The town was overwhelmed and the resort plan was out into place.
The Homestead retail complex was built along with a gold course closer to Newark and the basket building in Newark.
The numbers of visitors dropped and at the same time the economy changed and Longaberger was left with resort operations that consumed large amounts of cash and created a cash burden with regard to property taxes.
There were literally thousands upon thousands of acres of land that had been purchased for the second phase of the resort development which was a theme park.
Tami kept the taxes current on everything and chipped away at the bank loan by selling off the undeveloped land in parcels of varying sizes.
During that time she kept the bills paid and reduced staff as needed.
Whether she was a good leader or had the same vision as her father, who knows.
She did however keep the taxes current and paid and the vendors.
The lawsuits have all only hit the courts in large number in the last 2 years.
The taxes on the basket building also were current until June 2013.
That bill showed the taxes as up to date.