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Out of the ballgame
San Diego — As the controversy over Peregrine Systems, the Del Mar Heights company closely tied to Padres owner John Moores, exploded last week, both the company and representatives of Moores were quick to deny that the software maker's troubles would affect the team or its downtown stadium project in any way. "Peregrine wasn't any part of our ballpark financing," Padres president Bob Vizas was quoted by the Union-Tribune as saying. How, then, to explain the names of several Peregrine subsidiaries, the existence of which have been disclosed over the past six months in obscure filings with the federal Securities and Exchange Commission and the State of Delaware? They include Peregrine California Padres, Inc; Ballgame Acquisition Corporation; Peregrine Ontario Blue Jays, Inc.; and Peregrine Diamond, Inc. According to a February 14 SEC filing disclosing a $100 million revolving-credit agreement between Peregrine, Fleet National Bank, and a group of other banks, the "Ballgame Acquisition" involved the purchase of "certain assets of Xtra On-Line Corporation pursuant to that certain Asset Purchase Agreement dated as of November 30, 2001." The same document says Peregrine "failed to comply" with certain loan covenants related to the Ballgame deal "for the period of November 30, 2001, through December 20, 2001," which "constituted an Event of Default for such period." Asked about the nature of the subsidiaries and the reason for the baseball themes of their names, MeeLin Nakata, a Peregrine spokeswoman, promised to look into the matter but hadn't called back by press time ... In the meantime, Peregrine's troubles could mean that naming rights to UCSD's proposed new cancer center might go back on the block. Two years ago, Moores pledged $20 million toward construction of the research facility, to be built on 2.4 acres southeast of Thornton Hospital, earning him the right to name it the John and Rebecca Moores UCSD Cancer Center. According to the university's Karen Gajewski, UC regent Moores has so far come up with about $17 million of the pledge, all in the form of Peregrine stock, contributed between March 2000 and May 2001, but hasn't given anything in the year since. All is not lost, however. The remaining $3,092,202 isn't due until July 2006, notes Gajewski, who adds that the university long ago liquidated all of the Peregrine holdings it received from Moores ...U-T columnist Don Bauder, who has long followed the fate of the downtown ballpark, is set to give a talk on Sunday, May 26, entitled "Scams! Their history and how to avoid them," to the San Diego Association for Rational Inquiry.
Indecent nonexposure A man caught dancing around a Chula Vista hotel parking lot in women's flesh-colored lace panties and matching lace bra wasn't a case of indecent exposure, San Diego's Fourth District Court of Appeals has ruled. According to a report in National Law Journal, the justices threw out two counts of indecent exposure last month against David Massicot, arrested after the night clerk, identified only as "Maria O.," saw him through a hotel window and he was traced to his home, where cops found a bag of women's panties. Finding that Massicot had not "exposed his person," as defined by the law, the court concluded, "The question is whether, by displaying his bare shoulders, thighs, and buttocks to Maria O., Massicot exposed his 'person' within the meaning of the statute. Because we hold the only reasonable construction of the phrase '[e]xposes his person'...is that it means the display of a person's entirely unclothed body, including by necessity the bare genitals, we conclude...Massicot's convictions...must be reversed."
Fun city A local party planner by the name of Annie Revel will teach "Festival Management" in San Diego State University's "Hospitality and Tourism Management" program ... La Jolla's own Pacific Corporate Group, run by Christopher Bower, has been bounced as a financial advisor to the San Francisco Retirement System. According to the San Francisco Chronicle, when it was announced that Pacific Corporate quietly withdrew last week from a bid to manage more than $1 billion of the system's cash, "a loud cheer went up." The controversy began in February, when retirement-fund commissioners voted to replace the system's old manager with PCG, triggering accusations of secret dealing. The company has been besieged by controversy ever since it came to light it steered CalPERS, the state employee retirement system, into a deal with failed Texas power giant Enron.
Contributor: Matt Potter
Here's something you might be interested in.
Out of the ballgame
Out of the ballgame
San Diego — As the controversy over Peregrine Systems, the Del Mar Heights company closely tied to Padres owner John Moores, exploded last week, both the company and representatives of Moores were quick to deny that the software maker's troubles would affect the team or its downtown stadium project in any way. "Peregrine wasn't any part of our ballpark financing," Padres president Bob Vizas was quoted by the Union-Tribune as saying. How, then, to explain the names of several Peregrine subsidiaries, the existence of which have been disclosed over the past six months in obscure filings with the federal Securities and Exchange Commission and the State of Delaware? They include Peregrine California Padres, Inc; Ballgame Acquisition Corporation; Peregrine Ontario Blue Jays, Inc.; and Peregrine Diamond, Inc. According to a February 14 SEC filing disclosing a $100 million revolving-credit agreement between Peregrine, Fleet National Bank, and a group of other banks, the "Ballgame Acquisition" involved the purchase of "certain assets of Xtra On-Line Corporation pursuant to that certain Asset Purchase Agreement dated as of November 30, 2001." The same document says Peregrine "failed to comply" with certain loan covenants related to the Ballgame deal "for the period of November 30, 2001, through December 20, 2001," which "constituted an Event of Default for such period." Asked about the nature of the subsidiaries and the reason for the baseball themes of their names, MeeLin Nakata, a Peregrine spokeswoman, promised to look into the matter but hadn't called back by press time ... In the meantime, Peregrine's troubles could mean that naming rights to UCSD's proposed new cancer center might go back on the block. Two years ago, Moores pledged $20 million toward construction of the research facility, to be built on 2.4 acres southeast of Thornton Hospital, earning him the right to name it the John and Rebecca Moores UCSD Cancer Center. According to the university's Karen Gajewski, UC regent Moores has so far come up with about $17 million of the pledge, all in the form of Peregrine stock, contributed between March 2000 and May 2001, but hasn't given anything in the year since. All is not lost, however. The remaining $3,092,202 isn't due until July 2006, notes Gajewski, who adds that the university long ago liquidated all of the Peregrine holdings it received from Moores ...U-T columnist Don Bauder, who has long followed the fate of the downtown ballpark, is set to give a talk on Sunday, May 26, entitled "Scams! Their history and how to avoid them," to the San Diego Association for Rational Inquiry.
Indecent nonexposure A man caught dancing around a Chula Vista hotel parking lot in women's flesh-colored lace panties and matching lace bra wasn't a case of indecent exposure, San Diego's Fourth District Court of Appeals has ruled. According to a report in National Law Journal, the justices threw out two counts of indecent exposure last month against David Massicot, arrested after the night clerk, identified only as "Maria O.," saw him through a hotel window and he was traced to his home, where cops found a bag of women's panties. Finding that Massicot had not "exposed his person," as defined by the law, the court concluded, "The question is whether, by displaying his bare shoulders, thighs, and buttocks to Maria O., Massicot exposed his 'person' within the meaning of the statute. Because we hold the only reasonable construction of the phrase '[e]xposes his person'...is that it means the display of a person's entirely unclothed body, including by necessity the bare genitals, we conclude...Massicot's convictions...must be reversed."
Fun city A local party planner by the name of Annie Revel will teach "Festival Management" in San Diego State University's "Hospitality and Tourism Management" program ... La Jolla's own Pacific Corporate Group, run by Christopher Bower, has been bounced as a financial advisor to the San Francisco Retirement System. According to the San Francisco Chronicle, when it was announced that Pacific Corporate quietly withdrew last week from a bid to manage more than $1 billion of the system's cash, "a loud cheer went up." The controversy began in February, when retirement-fund commissioners voted to replace the system's old manager with PCG, triggering accusations of secret dealing. The company has been besieged by controversy ever since it came to light it steered CalPERS, the state employee retirement system, into a deal with failed Texas power giant Enron.
Contributor: Matt Potter
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