The day before the city elections, a reader who is a realtor with Sotheby’s told me what she thought about my final dispatch in last month’s issue. “You’re right about one thing,” she said. “If enough people pull the lever for Mr. Coss, we will have more of the same.” She didn’t mean that as […]
We are fortunate in Santa Fe to be living in one of the last two newspaper towns. If the Journal is scooped by the New Mexican — or vice versa — it will come back the next day to match or top the story with one of its own. And if both dailies become complacent […]
It’s Sunday morning now and the Journal’s Mark Oswald has done it again, with a superb piece of explanatory journalism on the collapse of Thornburg Mortgage. Thornburg is one of the 10 largest corporate bankruptcies in the United States since 1980 — a list that includes Enron, WorldCom, and Lehman Brothers. Why the New Mexican […]
The Reporter has moved again to the front of the pack with the most incisive look yet at the latest developments in the Thornburg Mortgage bankruptcy. In the story, Thornburglars, Corey Pein interviews two parties in the case and poses the crucial question: Was Garrett Thornburg duped by his longtime colleagues? Or did he and […]
Mark Oswald, the editor of Journal Santa Fe, has written to note that he had the story on the appointment of a Thornburg trustee on Saturday, two days before Reuters. Apologies for missing that. Unlike the perfunctory brief in the New Mexican, the Journal had a full report, including some helpful context: The federal court […]
There was more bad news last week for Thornburg Mortgage. According to Reuters, a federal court has taken control of the company by appointing an independent trustee to oversee the bankruptcy proceedings. This is a very big deal but the news got only a brief in the New Mexican — followed today by another Bob […]
While the New Mexican business desk lumbers along, the Journal has been pursuing the scandal at bankrupt Thornburg Mortgage. Last month the company’s principals, Larry Goldstone and Clarence Simmons, were forced to resign after they were accused by the Justice Department of taking money owed to creditors and spending it on themselves. Mark Oswald, the […]
The Journal has picked up on the Thornburg accusations (and the resignations of Mr. Goldstone and Mr. Simmons) with a thorough piece by editor Mark Oswald, and Corey Pein advances the story another notch on the Reporter website. But there is nothing in the New Mexican about one of the most important local business stories […]
Corey Pein has good cause to gloat over his scoops for the Reporter: Thornburg “Misappropriation”? and Feds Claim ‘Gross Mismanagement’ At Thornburg — Or ‘Incompetence’ At Best. Numerous shareholder suits have been filed accusing the principals of Thornburg Mortgage of mismanaging the company, which is enmeshed in one of the largest corporate bankruptcies ever. Now […]