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They eventually charged six people, includingJoe Bill Bennett, owner of Bennett Resources, with operating a drugtrafficking ring that brought $25 million worth of cocaine into AddisonAirport each month and then flew it out to be sold nationwide. Rochonsays Rogers’ income spiked from an average of $1 million a year in the’80s to $7.5 million a year through the ’90s, largely thanks toRichmont’s profitable investments. Rogersgave “Larry” 10 minutes to make his pitch. Pugh | Itis disgusting. Mary Kay’s board of directors had to be notified. Ferner war sie 2000 Gastprofessorin für Jura an der Harvard Law School. Murray | Not enough to know my name, anyway.”. Saxbe | 1972 folgte ein Juris Doctor an der Yale University. Copyright © 2020, D Magazine Partners, Inc. All Rights Reserved. Thatwas not a very good call for Richard.”, More bad calls were tocome. Rochon hadn’t been at Mary Kay long when an LBO ofthe company first became a possibility. But earnings declinedseveral of those years. Just three weeks later at Seminar, the sales force greetedhim with a wildly enthusiastic standing ovation as he took the stage.Rogers smiled wide and waved. Mary Kaynever made a mistake after she left the company. Bill Brewer, the lead attorney on the case, estimatesthat with the options, the consulting deal, attorneys’ fees, and otherdamages, the whole suit amounts to $75 million. McCook | [2] Sie saß zwischen 1991 und 2002 im Beirat vom World Arbitration and Mediation Report (WAMR) und war zwischen 1994 und 2002 für das Dispute Resolution Magazine tätig. In 1982, he was imported to theDallas headquarters, where he worked in the finance department and,only two years later, was named Mary Kay’s chief financial officer. Healso says if the company paid any personal expense such as bicycleparts, he would receive an invoice and was expected to reimburse MaryKay. Rochondoesn’t fault Rogers for wanting out. Diese Seite wurde zuletzt am 4. Rick Wendell. “Okay,” he said. Rochon doesn’tsmile easily, but the mere mention of the tent makes him light up likethe stage during Seminar. Dann | built since 1982. But mostly Rogers passed his time flying around in aprivate jet, hopping from a luxurious $4.3 million mountainside mansionin Aspen, Colorado, to a $3.5 million beachfront house in Cabo SanLucas, Mexico, to a more modest home in Dallas. Sie saß neun Jahre lang im Board of Directors der Legal Services Corporation. On May 29, 1985,DEA agents stormed the offices of Bennett Resources Inc., a Dallas oilcompany—as well as the offices of several other area businesses—near ahanger at Addison Airport. Rogers, through his attorney, continues to deny any involvement in the drug trafficking. One of Rogers’associates describes that period of his life as a “nonstop party.”. ENOUGH OF THE BICKERING about tents and bicycles and planes.What’s the bottom line? Now his former friend and CEO, John Rochon, is suing for $75 million. Lawrence | And that, one source says, was”the straw that broke the camel’s back” in the relationship betweenRogers and Rochon. Think ofRichmont as a financial adviser, investment bank, and stock brokerrolled into one. Theyowe me $75 million. He put together afinancial model, looking to squeeze cash out of the existingoperations, and, when he realized he was within $100 million of pullingoff the biggest leveraged buyout in corporate history, he called somefriends with Morgan Stanley in New York for advice. Crabbe | He says that after Mary Kay’sillness took her away from the company, he did for her what he believesthe disciples did for Jesus—created the perfect persona for the rest ofthe world to identify with. When all the papers were finally signed, Rogers took to thefriendly skies, tossing the proverbial keys to Rochon before he left.Rogers had been telling people it was time, after 30 years with thecompany, to take a break. The drugbust. He wasn’t comingto the office anymore. (Remember thatname?) He has hired the high-powered Dallas firm Bickel & Brewerto represent him. (Bennett is nowCEO of Matrix Energy Services Corp., a small publicly traded oil andgas company based in Fort Worth.). Herbert | Monnett | (Remember that name.) Bricker | THE AIR IN THE ROOM WAS THICK WITH THE PERFUME of 10,000 womenwaiting for the prodigal son of Mary Kay Ash to make his triumphantreturn to Dallas. Longtime CEO John Rochon had been fired—or had quit, dependingon whom you believe—and other top executives had followed him out thedoor, some voluntarily, some at the company’s behest. The incredible near-death experience of Fr. Even so, Rochontoday maintains that he was behind the LBO. A couple ofmonths later, someone on Wall Street started chatting up the raid, anda rumor swept through traders’ offices that Rogers was also beinginvestigated in connection with the May bust. The bitter lawsuit paints a not-so-pretty picture. “I could create it. Stacey Alcorn 72 views. He’d been watching that bear break into his barnfor almost three years. McGhee | Terry Smith, the company’s chief financialofficer, says profit margins are also up. According to a memorandum from a MillionAir employee, the Hawker was purchased for $4.15 million. The only thing shining on him was his bald head. Whatever comes out in court, the fight has forthe first time provided a glimpse into the messy executive-levelworkings of a private company, revealing ugly blemishes on a publicface that is usually pink, powdered, and perfect. Now, this isn’t any old tent.According to company records, Rochon had an immense superstructureinstalled in the backyard of his $2.2 million, 10,000-square-footDallas house. 1 brand in America. Other family members, includingRogers’ ex-wife Jan, would have lost share in the company but wouldhave received a cash payout in exchange. Rogers war von 2008 bis 2009 kommissarische Attorney General von Ohio. In 1991, he ceded his CEO duties andslipped away into semi-retirement. Duffy | Rochon’s office was called, andMillion Air staffers were told to tow the Hawker around to the back ofthe hanger where it could be hidden until Rogers’ Gulfstream departed. You call theoutside board.’ I was 33 years old, and I’m calling these guys who are,like, 65-year-old statesmen, and I’m saying, ’Listen, bud, we’re buyingyour company.’”, Again, it should be noted that the companydisagrees. Rochon looked at Rogers and said, “Richard, would you pleaserepeat what you just told me?”, Rogers said, “I just told John that if you guys get me a Gulfstream jet, I’ll give him the keys to the company.”, It was a surprising statement, but Logan didn’t miss a beat. (Rochon has since purchased Nu-kote and brought itout of bankruptcy.) Richard R Rogers is Co-Chairman/Co-Founder at Mary Kay Inc. See Richard R Rogers's compensation, career history, education, & memberships. He was told that thecompany didn’t plan to pay him. And some of that debt was relatedto the 1985 LBO. He merely had to make sure that Rochon wasmaking money for him. Wolcott | Nancy Rogers Video 3-35 - Duration: 2:49. Someexamples, taken from memos the company provided: “John has a bicycle somewhere that he used to ridea long time ago. From 1991, when Rochon took over as CEO, until 2000, his lastcomplete year, Mary Kay’s sales more than doubled, from $520 million to$1.25 billion. “It was purchased by Richard’s company,” Rochonsays. She was actually sobbing. So does everything else the founder left behind: herorganizers, the semicircular beige couch she used for meetings andrefused to get rid of despite its creeping dinginess, thewood-and-glass cabinets housing dozens of valuable porcelain figurines.Everything is regularly dusted and polished and vacuumed and perfectlypresentable. McCormick | Zwischen 2001 und 2008 fungierte sie dann als Dekan am Moritz College of Law und hatte dort seit 2001 die Leitung bei außergerichtlicher Streitbeilegung. Rochonwas working on a recapitalization plan that would have given him a 10percent stake in the company, paid off all debt, and restructured thefamily ownership, giving Rogers a 45 percent share. Pillars | Danach war sie zwischen 1975 und 1976 Gastprofessorin am College of Law der Ohio State University. Pond | Juli 2015 um 10:36 Uhr bearbeitet. If you continue to use this site we will assume that you are happy with it. Five years later, on Thanksgiving Day2001, Mary Kay died, not at her desk, as she probably had hoped, but atthe University Park bungalow she’d moved into after selling her12,000-square-foot pink Preston Hollow mansion in 1994. Nancy Hardin Rogers, Tochter von Martha Wood und Clifford Morris Hardin, wurde ungefähr drei Jahre nach dem Ende des Zweiten Weltkrieges in Lansing geboren. Before Rochon left, he was sellingoff Richmont’s entities and refinancing the company’s debt—at Roger’srequest. Even after his long absence, though, he needed nointroduction. “I choreographed it. “Hismantra was, ’We’re going to do two things,’” Holl says of Rogers. Rogers had also made other personal loans to Bennett amounting tomore than $250,000. In any case,in 1991 Rogers removed himself from day-to-day operations, assuming thetitle of chairman of Mary Kay Holding—sort of an oversight company thatis technically Mary Kay Inc.’s parent. It had been almost adecade since Rogers, Mary Kay’s youngest son, had formally retired fromthe company. Rochon wasalso making money through an enterprise called Richmont Corp. Rochonsays now that the connections between Rogers and Bennett nearlydestroyed the LBO. Macon, Rogers’ spokesman, says, “It was Richard who had allthe connections with the investment bankers. For instance, in a conferencecall with D Magazine, he denied Rogers ever offered Rochonthe sweat off his balls. Theairport offices were leased from Million Air Dallas. Website Design by, St. Valentine’s Day Luncheon and Fashion Show, 2018 Saint Valentine's Day Luncheon and Fashion Show, Leukemia and Lymphoma Society of North Texas, The Dallas Institute of Humanities and Culture, Dallas Women's Foundation Annual Luncheon, St. Valentine's Day Luncheon And Fashion Show, The Salvation Army's Women's Auxiliary Fashion Show. According to a J.P.Morgan analysis related to the recapitalization, Rogers now controls 20percent. Logan headed down toRochon’s office, where he found Rochon sitting with Richard Rogers. They think I wanted to have workers traipsingthrough my house for 45 days before the and... Eine präsidiale Ernennung und die Bestätigung durch den Gouverneur, career history, education &... 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