Another financial scandal with an aviation connection

ScottM

ScottM

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iBazinga!
This is a story we are hearing all too often these days.

Investors in a Sarasota-based hedge fund could be out $350 million, and the man behind it has vanished. Managers of the fund are telling clients that their money is gone, and they do not know if any will be recovered.
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The potential black eye for aviation is that the man at the center of this scandal, Art Nadal, is also the owner of the Venice Jet Center.

The Nadels also own the Venice Jet Center, which has been at the center of controversy in Venice over its efforts to expand.
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Between this and the Indiana guy it is starting to look like not only is aviation a rich man's hobby, but a crooked rich man's. I can only see this being used against pilots to restrict us even more. SAD!

http://www.heraldtribune.com/articl...1170360/2055/NEWS?Title=_350_million_____gone
 
Everskyward said:
Haha. Starting to look? Maybe starting to be more publicized would be more correct. OK I'm a cynic but I've been around aviation a long time.
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You probably see more of it than me. I am around guys like a lot of the guys here, who are honest guys who love aviation and are in it for the love of it instead of how important it makes them look.
 
Everskyward said:
Haha. Starting to look? Maybe starting to be more publicized would be more correct. OK I'm a cynic but I've been around aviation a long time.
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+1.

Seems like a LOT of folks think we have pockets to be picked.
 
Many years ago, in the military, we had an old adage that seemed to hold water.

"Ten Percent of any group of people are screw ups."

There is little point in personalizing these isolated incidents of idiocy, it'll get you nowhere.

This can only mean that ten percent of us, the members of this board, are screw ups, ten percent of the time.

And that is what is known as the ten percent theory.

John
 
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Somebody published a research report not long ago that supposedly proved that many incompetent people are blithely unaware of their deficiencies. They think they are quite good at whatever they do, and carry on unburdened by the truth.

Moreover, they often do not take kindly to being told of their inadequacies, and sometimes become belligerent or downright hostile during employee evaluations. Turns out there is scientific basis for the unconscious incompetent social stye, the person who doesn't know and doesnt know he doesn't know.

proceed inadequacies.
John Baker said:
Many years ago, in the military, we had an old adage that seemed to hold water.

"Ten Percent of any group of people are screw ups."

There is little point in personalizing these isolated incidents of idiocy, it'll get you nowhere.

This can only mean that ten percent of us, the members of this board, are screw ups, ten percent of the time.

And that is what is known as the ten percent theory.

John
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They guy who ran the FBO at my home drome was caught with his hands in the cookie jar. I think now he sells boats.
 
You don't have to be smart to avoid these types of situations - a lot of people who are very smart have been taken over the years - you just have to be smart enough to recognize the greed in your heart and the liability that presents to yourself and your loved ones.
 
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