Tailwind Sport 2005

[Dr. Maserati]

As we are patiently awaiting some articles we might as well have a CNF exclusive of our own.

Remember this quote from Armstrong to the New York Times Juliet Macur about Tailwind Sports in July?

“It wasn’t my company,” Armstrong said. “I can’t make it clear enough to you. I don’t know. I didn’t know the company. I didn’t have a position. I didn’t have an equity stake. I didn’t have a profit stake. I didn’t have a seat on the board. I was a rider on the team. I can’t be any clearer than that.”

As we know that directly contradicted both Armstrong (and his Agent/Manager Bill Stapleton) sworn testimony in the SCA case.

Armstrongs testimony was taken on the 30th November 2005.

Q. Can you tell us what your relationship, first, your business relationship with Tailwind Sports, is?
A. I'm an athlete on the team.
Q. Do you have any ownership interest in Tailwind Sports?
A. A small one.
Q. When you say a small one, can you give me an approximate percentage as to what that would be, if you know?
A. Perhaps 10 percent.

To clear up this contradiction Armstrong's attorney Tim Herman explained to ESPN's Bonnie D. Ford:

"In December of 2007, Lance Armstrong received his first shares of common stock of Tailwind Sports Corp.," Herman's statement said. "Tailwind had not previously issued any shares of stock to Lance before 2007. The confusion on the timing, which is not new, stems from the fact that the Board of Directors of Tailwind decided in 2004 to approve the issuance of shares of Tailwind stock to Lance and others as consideration for valuable services that had been provided to the company. Although the Board of Directors told the intended recipients in 2004 that the stock would be issued, the stock was not actually awarded to Lance and the others until December 2007.

"Thus, when Lance was asked questions about it in 2005, he truthfully answered that he believed he was a small minority owner in Tailwind but did not know or understand the details. Those details were finalized in December of 2007 based on the Board's actions and communications in 2004," he said.

Herman called any questions about Armstrong's ownership in Tailwind "an attempt to create the proverbial mountain out of a molehill. ... Tailwind was operated in a legal, legitimate manner and Lance was a rider for Tailwind, not a manager. Lance has always accurately stated his understanding of whether and how much of Tailwind he owned and his comments today about not acquiring ownership until 2007 are no different."

All good so far.....?

 

[Dr. Maserati]

Here is an interesting document from October 2005, a month prior to LA's testimony.

Also of interest is that both Johan Bruyneel and John Burke of Trek are also named as Directors.

 

[red_flanders]

Whoops!

 

[The Hitch]

I think Novitsky or whoever it is should higher Dr Masserati as a lawyer on the case.

 

[Polish]

What is the issue?

IIRC, Lance did not recieve his equity stake until December of 2005.
Does that have anything to do with the issue?

I apologize for not reading through your entire post

 

[BikeCentric]

LOL, well played Dr. Maserati, well played.

 

[Darryl Webster]

Here is an interesting document from October 2005, a month prior to LA's testimony.

Also of interest is that both Johan Bruyneel and John Burke of Trek are also named as Directors.

Exellent find Dr. Maserati!!

 

[BotanyBay]

Anyone know who Terry Lee is (and what he does)?

 

[D-Queued]

What is the issue?

IIRC, Lance did not recieve his equity stake until December of 2005.
Does that have anything to do with the issue?

I apologize for not reading through your entire post

Apparently you don't follow very well - but you should try reading what is a short post before opening your mouth and dispelling all confusion over your competence level.

Lance lied (at least) twice here. Once during the SCA deposition. Once to Bonnie Ford.

Herman made a conscious misrepresention.

According to the Company's articles, Lance had a business relationship (as he was) on the Board of Directors. He and Herman claimed otherwise.

Lance was on the Board. When Herman says the Board did this, and the Board did that, he might as well just say 'Lance did this' and 'Lance did that'.

As a member of the Board this is effectively the same.

Dave.

 

[Night Rider]

What is the issue?

IIRC, Lance did not recieve his equity stake until December of 2005.
Does that have anything to do with the issue?

I apologize for not reading through your entire post

“It wasn’t my company,” Armstrong said. “I can’t make it clear enough to you. I don’t know. I didn’t know the company. I didn’t have a position. I didn’t have an equity stake. I didn’t have a profit stake. I didn’t have a seat on the board. I was a rider on the team. I can’t be any clearer than that.”

Still confused?

 

[BotanyBay]

 

[Dr. Maserati]

Anyone know who Terry Lee is (and what he does)?

Terry Lee is the former CEO of Bell Helmets (& John Bucksbuam) is a member of the exclusive 'Champions Club' that are part of the USAC Foundation set up by Weisel.

 

[Polish]

Apparently you don't follow very well - but you should try reading what is a short post before opening your mouth and dispelling all confusion over your competence level.

Lance lied (at least) twice here. Once during the SCA deposition. Once to Bonnie Ford.

Herman made a conscious misrepresention.

According to the Company's articles, Lance had a business relationship (as he was) on the Board of Directors. He and Herman claimed otherwise.

Lance was on the Board. When Herman says the Board did this, and the Board did that, he might as well just say 'Lance did this' and 'Lance did that'.

As a member of the Board this is effectively the same.

Dave.

Thank you Dave, but I am still not completely clear here...

What was Lance's lie during the SCA investigation?
Could you use the specific quote from Lance that is the lie?

What was Lance's lie to Bonnie?
Again, could you use the specific quote from Lance that is the lie?

Anyone can answer this for me, tia.
Thanks again Dave

 

[BroDeal]

Two out of the three officers, Stapleton and Knaggs, stand to make $2.25M from the Demand Media IPO. I wonder why Laura Hundley did not get a cut. Did she refuse Armstrong's advances or did Velocentric leave her out of his "Blurred" post.

 

[Merckx index]

I see two lies or misstatements here. One is in the statement to Macur in July, where LA said “I didn’t have a seat on the board”. The second is in Herman’s statement, where he says, “Lance was a rider for Tailwind, not a manager”.

However, in the SCA testimony, LA admits to having perhaps a 10% ownership in the company, which seems to be the truth. So I disagree with Dave that he lied in the SCA deposition (that is, in the portion of the testimony quoted here). The rest of Herman’s quoted statement to Bonnie Ford also appears to be true, including the conclusion that “Lance has always accurately stated his understanding of whether and how much of Tailwind he owned and his comments today about not acquiring ownership until 2007 are no different.”

We should be clear that being on the Board of Directors of a company is not the same as having an ownership stake in that company. Board members may or may not be owners. Simply not mentioning that he was a board member, let alone baldly denying that, is an egregious misrepresentation, to be sure, but it does not change the situation with respect to ownership.

 

[MacRoadie]

What is the issue?

IIRC, Lance did not recieve his equity stake until December of 2005.
Does that have anything to do with the issue?

I apologize for not reading through your entire post

Ok, try this.

The document provided by Dr. Maserati is an "Application for Certificate of Authority" and is dated October 31, 2005. This is not, however, the date of incorporation. It is simply a request to the State of Texas to allow an entity, previously incorporated in Delaware, to conduct business as a corporation in Texas.

Paragraph 4 on page 1 identifies the date of incorporation as June 25, 2002.

Lance Armstrong is identified as a director of the corporation. Possibly as early as 2002, but certainly prior to October 31, 2005.

 

[Race Radio]

Anyone know who Terry Lee is (and what he does)?

CEO Bell Sports

 

[MacRoadie]

We should be clear that being on the Board of Directors of a company is not the same as having an ownership stake in that company. Board members may or may not be owners. Simply not mentioning that he was a board member, let alone baldly denying that, is an egregious misrepresentation, to be sure, but it does not change the situation with respect to ownership.

While you are right about the ownership stake angle, the board angle is slightly more significant than you are representing it to be.

He doesn't simply fail to mention that Armstrong was a board member, he says:

The confusion on the timing, which is not new, stems from the fact that the Board of Directors of Tailwind decided in 2004 to approve the issuance of shares of Tailwind stock to Lance and others as consideration for valuable services that had been provided to the company. Although the Board of Directors told the intended recipients in 2004 that the stock would be issued, the stock was not actually awarded to Lance and the others until December 2007."Thus, when Lance was asked questions about it in 2005, he truthfully answered that he believed he was a small minority owner in Tailwind but did not know or understand the details. Those details were finalized in December of 2007 based on the Board's actions and communications in 2004," he said

He represents that Armstrong was in the dark as to the board's actions, when, in fact, he was a member of said same board.

 

[Nick777]

Thank you Dave, but I am still not completely clear here...

What was Lance's lie during the SCA investigation?
Could you use the specific quote from Lance that is the lie?

What was Lance's lie to Bonnie?
Again, could you use the specific quote from Lance that is the lie?

Anyone can answer this for me, tia.
Thanks again Dave

I thought serial trolling leads to banning?
I don't see anything at all from you other than posts designed to stir the pot. Nobody could be as stupid as you make out to be.

 

[Polish]

Ok, try this.

The document provided by Dr. Maserati is an "Application for Certificate of Authority" and is dated October 31, 2005. This is not, however, the date of incorporation. It is simply a request to the State of Texas to allow an entity, previously incorporated in Delaware, to conduct business as a corporation in Texas.

Paragraph 4 on page 1 identifies the date of incorporation as June 25, 2002.

Lance Armstrong is identified as a director of the corporation. In 2002.

Lance has told plenty of lies in his life.
White lies to some really big whoppers lol...

But for the life of me, i still can not see the "Lance Lie" during SCA.
Or the "Lance Lie" to Bonnie...

Saying to Ms Macur that he "did not have a seat on the board...just a rider" is misleading, but BFD - he has done a lot worse than that. Maybe he gave her The Look ouch.

 

[MacRoadie]

Saying to Ms Macur that he "did not have a seat on the board...just a rider" is misleading.

No, it's a flat-out lie.

As far as the SCA excerpt is concerned, no one is saying it's a lie. The point is that SUBSEQUENTLY, he denied any ownership.

In the SCA deposition, Armstrong himself volunteers that he possessed an ownership stake. The document provide by Dr. Maserati suggests that he was on the board of directors as early as October 2005, possibly earlier.

In July 2010, he told Juliet Macur:

I didn’t have an equity stake. I didn’t have a profit stake. I didn’t have a seat on the board.

THOSE are the lies.

Merckx Index suggests that maybe Armstrong only THOUGHT he had an equity share (an argument proffered by Tim Herman), because he was in the dark about the board's actions. The problem there is that ARMSTRONG WAS ON THE BOARD!

 

[Dr. Maserati]

Ok, try this.

The document provided by Dr. Maserati is an "Application for Certificate of Authority" and is dated October 31, 2005. This is not, however, the date of incorporation. It is simply a request to the State of Texas to allow an entity, previously incorporated in Delaware, to conduct business as a corporation in Texas.

Paragraph 4 on page 1 identifies the date of incorporation as June 25, 2002.

Lance Armstrong is identified as a director of the corporation. Possibly as early as 2002, but certainly prior to October 31, 2005.

Thank you for that!

I have just checked the Delaware records - (if I can link it I will)

--------------------------------------------------------------------------------
File Number: 3540910 Incorporation Date / Formation Date: 06/25/2002
(mm/dd/yyyy)
Entity Name: TAILWIND SPORTS CORP.
Entity Kind: CORPORATION Entity Type: GENERAL
Residency: DOMESTIC State: DE
Status: DISSOLVED Status Date: 12/31/2007

TAX INFORMATION

Last Annual Report Filed: 2005 Tax Due: $ 0.00
Annual Tax Assessment: $ 0.00 Total Authorized Shares: 3,154,563

REGISTERED AGENT INFORMATION

Name: NATIONAL REGISTERED AGENTS, INC.
Address: 160 GREENTREE DRIVE SUITE 101
City: DOVER County: KENT
State: DE Postal Code: 19904
Phone: (302)674-4089

FILING HISTORY (Last 5 Filings)
Seq Document Code Description No. of pages Filing Date
(mm/dd/yyyy) Filing Time Effective Date
(mm/dd/yyyy)

1 0275 Dissolution 2 12/31/2007 14:36 12/31/2007

--------------------------------------------------------------------------------

2 0245S Restated; Stock 16 10/18/2002 09:00 10/18/2002

--------------------------------------------------------------------------------

3 0245 Restated; Domestic 17 07/16/2002 09:00 07/16/2002

--------------------------------------------------------------------------------

4 0251S Merger; Surv; Stock Amend 17 07/16/2002 09:00 07/16/2002

--------------------------------------------------------------------------------

5 0102S Incorp Delaware Stock Co. 2 06/25/2002 09:00 06/25/2002

--------------------------------------------------------------------------------

 

[Polish]

No, it's a flat-out lie.

I don't know about "flat-out".
Lance has part ownership in how many companies?
I would venture to guess quite a few. 10-20+??

Maybe he "sits on the board" maybe not.
Maybe he sits on a board but has never really sat on that board.
He just cashes the checks. I could see him getting confused.

 

[Dr. Maserati]

I don't know about "flat-out".
Lance has part ownership in how many companies?
I would venture to guess quite a few. 10-20+??

Maybe he "sits on the board" maybe not.
Maybe he sits on a board but has never really sat on that board.
He just cashes the checks. I could see him getting confused.

Really - I thought he was on his bike 6 hours a day?

 

[Polish]

No, it's a flat-out lie.

As far as the SCA excerpt is concerned, no one is saying it's a lie. The point is that SUBSEQUENTLY, he denied any ownership.

In the SCA deposition, Armstrong himself volunteers that he possessed an ownership stake. The document provide by Dr. Maserati suggests that he was on the board of directors as early as October 2005, possibly earlier.

In July 2010, he told Juliet Macur:



THOSE are the lies.

Merckx Index suggests that maybe Armstrong only THOUGHT he had an equity share (an argument proffered by Tim Herman), because he was in the dark about the board's actions. The problem there is that ARMSTRONG WAS ON THE BOARD!

wait a minute, when Lance spoke to Macur - he was talking about when he was a rider.

Lance did not have a equity stake when he was a rider. That came later.
It also appears he never attended a board meeting when he was a rider. Seems he tried to make it clear to juliet....