The Lacoff Three go to the mattresses

Can't help you now, Father, I've got appointments in Syracuse and Greenwich

They’ve hired PR guru Howard Rubenstein, I hear from a very reliable source. Hiding something or just using the Powerball story to boost their business? Damned if I know.

20 Comments

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20 responses to “The Lacoff Three go to the mattresses

  1. Howard is expensive – they likely just had to put down around $10k to retain him for a one time project. Now we’ll see NYT Dealbook writing fluff peices on Belpointe

  2. Andy18@aol.com

    is your “reliable source” the greenwich time story stating as much yesterday? or the public comments Rubenstein has already made?

  3. burningmadolf

    Sorry C.F. and Buhl, this marks the end of the story unless you can come up with the details of exactly how the trust is set up or other real info. I have my theories on what really happened but the hands down best is the 8th commenter on Buhl’s site:
    “So they went to the state govt, pulled some strings with a good old boy (there are a lot of them, check out the website) on the conn. lottery board of directors…and with great finesse, it was arranged for them to be given the winning ticket. Pretty simple.”
    What a moron.

    • Burning, here’s what’s got me puzzled: either Tom Gladstone or the Lacoff Three have to be lying. Who and why? It’s a poser, although I absolutely agree with you that, absent some surprising revelation, there’s nothing illegal going on here. Still, with all the press covering this, I’ll bet we find out the true story, eventually.

  4. Georgie

    I know some like The Donald believe no press is bad press, but i can’t believe this stunt would be done for publicity.

    They are “professional” money managers buying lotto tickets?…uh, no thanks I’ll work with someone else.

  5. burningmadolf

    Here’s my take CF, totally speculative but that’s why i would never post it anywhere other than here:
    Davidson buys a ticket and tells his bosses that he is going to set up a trust, still work for a little while because of his personal relationship with his clients and the fact that he got them to move with him over the last couple of years, and eventually he’ll slow down working BUT he’ll have an office or a desk in Greenwich because he just jumped up from the bottom of the totem pole to biggest client.
    Lacoff sees an opportunity to get some free publicity and devises the whole “we are 3″ deal.

    • Burning, don’t forget the Beacon Hill project. There’s a lot of money owed on that failure and, depending on how the debt was incurred, the Lacoff Three may be personally liable on it. Now you’d think that the lottery winnings are large enough to pay those debts and still have a bundle but people are funny – some folks just can’t stand paying what they owe. Again (and again) I do not know if this speculation bears even the remotest proximity to the truth but until or unless we learn what that truth is, it’s fun to speculate. You know, if they’d won a paltry $10 million or so,none of this would be interesting.

  6. Georgie

    When I watched Barney Frank remarks upon his retirement announcement he said that the media is always waiting for the “gotcha moment”….well, gee, do you think its perhaps because politicians, corporate titans, athletic coaches, gee…..lottery winners have publicist with their prescribed text, press releases, and all their double-talk sucking the humanity out of these people that bloggers and such aren’t anxious to get one morsel of “truth” in what is being said at a spontaneous moment

    I’m sorry, but the fact that a bunch of two-bit lotto winners have to hire a lawyer, a publicst and such to “control” their message says so much about our society today. Horrible.

  7. Anonymous

    Let’s see.

    I win the lottery.

    I get the money.

    I quit my job.

    I blow it all on Cadillacs, expensive booze and women.

    I go to rehab.

    I go back to work.

    Ah, for the good old days.

  8. Unless I am reading the PR statement wrong I don’t see the Belpointe Boys denying there is a different person as beneficary of the trust. They should just show jurnos the trust agreement. See my update and thanks to CF readers for writing in to question this.
    http://www.teribuhl.com/2011/11/29/did-belpointe-asset-managers-lie-about-winning-ct-powerball/

  9. burningmadolf

    CF, I don’t think the RE comes into play here unless Davidson just bought into the firm with his winnings (which would be really dumb). That’s why I believe he is the one the other two are fronting for. It was all for the publicity.

  10. burningmadolf

    Buhl, using CF’s site in your “update” is the epitome of a circle jerk. You have no new info because there is nothing to this story other than a poor attempt by Lacoff to create some publicity.

  11. Well now this is some interesting commentary on the benefits or cons of taking the lotto win as a one time cash payout
    http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20111129/FREE/111129893

    Story idea likely floated by Rubenstein PR to the writer to try and turn the story in a different direction.

  12. Just_looking

    I suspect that they bought thousands of tickets to increase their odds, and Do not want to admit that they gamed the system. While a reach, they might have used investment funds to do so, you know as an “investment”. Hence the secrecy.

    • Just Looking, buying two lottery tickets does not increase one’s odds of winning.1,000? Same thing. Any “gaming” going on here is the state itself, that does not explain this to the suckers who buy tickets and instead, encourages the purchase of multiple tickets.
      By the way, if you believe the Lacoff Three, and I don’t, they set up the foundation first with the intention of funding it by buying lottery tickets.These are investment advisors? Humph and bullshit, says I.

  13. Just_looking

    Chris, it is not a coin toss, if buy 100% of the tickets you will win, so if you buy 50,000 tickets your chances of winning are much greater than just buying one, right? Maybe Fank has a good answer on that. I do agree that there IS more to the story, and I agree with your assessment of the group.

  14. GWChase

    I heard that the winner was a Stamford DPW employee – this was on saturday after the thursday night drawing.
    GW

  15. Well now – take a look at who Lacoff hired to start a hedge fund for his firm
    http://www.teribuhl.com/2011/12/01/greenwich-powerball-trustees-are-starting-a-hedge-fund/