Originally Posted by Zetack

And even more truth to the first part. Aside from the rangers, I'm not sure he's ever been involved with a successful business venture, but he always got sweetheard deals, probably because of his Daddy's connections.

In the West Texas energy business, Bush started out researching who owned mineral rights. He later traded mineral and royalty interests and invested in drilling prospects. He had started his own oil and gas company by 1978, taking $17,000 from his education trust fund to set up Arbusto Energy (arbusto means Bush in Spanish). The company fell on hard times when oil prices fell. He made several attempts to revive the business, first by changing the company's name and later by merging with other companies. In 1983, Bush’s company was rescued from failure when Spectrum 7 Energy Corporation, a small oil firm owned by William DeWitt and Mercer Reynolds, bought it. Bush became chief executive officer. Harken Energy Corporation acquired Spectrum 7 in 1986, after Spectrum had lost $400,000. In the buyout deal, Bush and his partners were given more than $2 million worth of Harken stock for the 180-well operation. Bush became a director and was hired as a "consultant" to Harken. He received another $600,000 of Harken stock, and has been paid between $42,000 and $120,000 a year. By the spring of 1987, Harken was in need of cash. So Bush and his fellow Harken officials met with Jackson Stephens, head of Stephens, Inc., an investment bank in Little Rock, Arkansas (Stephens contributed $100,000 to the Reagan-Bush campaign in 1980 and gave another $100,000 to the Bush dinner committee in 1990.) Stephens arranged for Union Bank of Switzerland (UBS) to provide $25 million to Bush’s company in return for a stock interest in Harken. As part of the deal, Sheikh Abdullah Bakhsh, a Saudi real estate tycoon and financier, joined Harken's board as a major investor. Stephens, UBS, and Bakhsh each had ties to the infamous, scandal-ridden Bank of Credit and Commerce International (BCCI). In 1990, Bush sold his remaining stock options and left the oil business

On June 22, 1990, George Jr. sold two-thirds of his Harken stock for $848,560-a cool 200 percent profit. The move was well timed. One week after Bush sold his stock, Harken announced a $23.2 million loss in quarterly earnings and Harken stock dropped sharply, losing 60 percent of its value over the next six months.

Both Arbusto/Bush Exploration and Spectrum 7 failed with Bush as chairman and CEO. At Harken, Mr. Bush was relieved of day-to-day management responsibilities but still served on the board of directors.

For what its worth.

Originally Posted by vaJAZzled

Such a successful family these Baldwins

Originally Posted by kerze

No Russ can't prove anything. He's an idiot.

Originally Posted by dereksaintjames

Bobby Baldwin is just one of these 'kool hand Lukes'; smart and able to hold his own, in any situation, he made good moves, took his game to the best level he could; all one can do in life - be the best you can. Bobby's 'kool' plain and simple.

Originally Posted by SumNewb

sick bump

Originally Posted by Alzke

saw him do a masonic grip handshake with 1 Drop dealer (the black guy)

join a secret society and profit!

Originally Posted by Zetack

And even more truth to the first part. Aside from the rangers, I'm not sure he's ever been involved with a successful business venture, but he always got sweetheard deals, probably because of his Daddy's connections.

In the West Texas energy business, Bush started out researching who owned mineral rights. He later traded mineral and royalty interests and invested in drilling prospects. He had started his own oil and gas company by 1978, taking $17,000 from his education trust fund to set up Arbusto Energy (arbusto means Bush in Spanish). The company fell on hard times when oil prices fell. He made several attempts to revive the business, first by changing the company's name and later by merging with other companies. In 1983, Bush’s company was rescued from failure when Spectrum 7 Energy Corporation, a small oil firm owned by William DeWitt and Mercer Reynolds, bought it. Bush became chief executive officer. Harken Energy Corporation acquired Spectrum 7 in 1986, after Spectrum had lost $400,000. In the buyout deal, Bush and his partners were given more than $2 million worth of Harken stock for the 180-well operation. Bush became a director and was hired as a "consultant" to Harken. He received another $600,000 of Harken stock, and has been paid between $42,000 and $120,000 a year. By the spring of 1987, Harken was in need of cash. So Bush and his fellow Harken officials met with Jackson Stephens, head of Stephens, Inc., an investment bank in Little Rock, Arkansas (Stephens contributed $100,000 to the Reagan-Bush campaign in 1980 and gave another $100,000 to the Bush dinner committee in 1990.) Stephens arranged for Union Bank of Switzerland (UBS) to provide $25 million to Bush’s company in return for a stock interest in Harken. As part of the deal, Sheikh Abdullah Bakhsh, a Saudi real estate tycoon and financier, joined Harken's board as a major investor. Stephens, UBS, and Bakhsh each had ties to the infamous, scandal-ridden Bank of Credit and Commerce International (BCCI). In 1990, Bush sold his remaining stock options and left the oil business

On June 22, 1990, George Jr. sold two-thirds of his Harken stock for $848,560-a cool 200 percent profit. The move was well timed. One week after Bush sold his stock, Harken announced a $23.2 million loss in quarterly earnings and Harken stock dropped sharply, losing 60 percent of its value over the next six months.

Both Arbusto/Bush Exploration and Spectrum 7 failed with Bush as chairman and CEO. At Harken, Mr. Bush was relieved of day-to-day management responsibilities but still served on the board of directors.

For what its worth.

Originally Posted by stigmata

Alan Sugar & Richard Branson spring to mind. But yeah point taken.