The upcoming NSSTA Annual Meeting in 6 weeks at Torrey Pines should be an interesting one.
A number of things have surfaced in the last year that ARE affecting, or have the potential to affect the businesses of NSSTA members. I have the feeling however, that the majority of NSSTA members are neither aware of the issues, nor are they aware of how their businesses are being affected or how there businesses will be affected.
I hate to be the one to stir up "the hornet's nest" but serious questions must be raised. So here goes…
Issue: Hiring of NSSTA Executive Director Debacle
1. Was the issue of Diane Swenson 's hiring actually voted on by the NSSTA Board?
2. If answer to number 1 is yes, which Board members voted for her?
3. If answer to number 1 is yes, was there an instruction or go ahead given to Smith Bucklin Management to make an announcement?
4. If the answer to number 3 is no, then why hasn't NSSTA commenced legal action against Smith Bucklin management for damages that NSSTA and its members have already suffered and will continue to suffer as a result of the January 31, 2008 press release which was believed to have been circulated throughout key members of the trial lawyer community?
5. Why did it take NSSTA two weeks to address the "premature" Smith Bucklin press release?
6. Was there an NSSTA spokesman who spoke to DealFlow Media coinciding with its "Hello Goodbye" story of February 28? If so who?
Issue: Information Provided by NSSTA , via NSSTA Counsel, to New York Judge Paul A. Victor for the New York Judicial Institute Debacle
In a presentation to the New York Judicial Institute made in the Fall of 2006 New York Supreme Court Judge Paul A. Victor stated that he asked NSSTA for comment on The Halpern Group's 130X Trust. The New York Judicial Institute materials include a letter from NSSTA Counsel and other materials (including confidential NSSTA internal documents) which attempt to draw a parallel between the Halpern 130X trust and the James GIbson/SBU debacle, a point which Judge Victor drew attention to in institute materials. The parallel was bogus.
The backlash to the NYJI materials, including the NSSTA Counsel letter and other materials including the tie in to NSSTA and the "bogus parallel" was utter outrage and overwhelming support. Subsequently more than 50 signatures were obtained in support of Halpern's product including distinguished law professors, top attorneys, a leading consumer advocate and a senior officer of the top 10 national bank which acts as trustee, and circulated to attorneys nationwide.
It is believed that several NSSTA members, perhaps because of their inability or lack of skill to compete with Halpern, have resorted to questionnable tactics involving the use of such New York Judicial Institute Materials, including the tie in to NSSTA and the "bogus parallel". Because the forseeable consequences of the letter and supplied materials to NSSTA and its members are obvious, at least to this author…
1. Was the sitting NSSTA Board of Directors in September 2006 aware of the letter being sent to Judge Victor, or did NSSTA counsel act on its own?
2. Did the sitting NSSTA Board of Directors in September 2006, which had a non delegable duty to represent the best interest of ALL NSSTA members, review and approve the part of the content in which NSSTA counsel made the Gibson/SBU inference?
3. If the answer to number 2 is yes, was a legal analysis requested and was one performed by by NSSTA counsel to analyze the potential legal exposure to NSSTA and its members as a result of the statements which included the "bogus parallel"?
4. Did the sitting NSSTA Board of Directors in September 2006 contemplate that NSSTA members would use the NYJI materials, including those portions supplied by NSSTA with the bogus parallel, to compete with The Halpern Group?
5. The explanation to this author's inquiry about this material was basically to "pin the tail on the judge". If so, what steps did NSSTA take to protect the interests of NSSTA members, to correct the judge's published materials once it became known that certain NSSTA members were using the NYJI materials, including those portions supplied by NSSTA with the bogus parallel, to compete with The Halpern Group?
6 If number 4 is true, what timely steps did NSSTA officially take to reach out and mend the fence with Halpern?
Issue: Factoring Problem
I was there. Every single new Board member who was voted in at the NSSTA Annual Meeting in Toronto ran on an "I'm going to do something about factoring problem" platform.
1. What has the NSSTA Board of Directors, in particular those newly elected Board members, done as Board or independently, to live up to those "campaign promises"?
2. What has NSSTA done to educate judges? JG Wentworth has had executives sitting on the Board with the National Associaton of Women Judges!
3. What are NSSTA's plans to push for reform of factoring business practices related to advertising to structured settlement annuitants?
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