You may remember Stefani Carter. The former Texas state representative for parts of Richardson, swept into office in the 2010 tea party wave. The ambitious politician who attempted to climb to statewide office (Texas Railroad Commission) in 2014 only to discover that the moneyed interests had other candidates in mind. Who then scrambled back to her legislative race in north Texas but lost her seat when even GOP voters abandoned her in the primary for Linda Koop. The last time we checked in on her was in 2020. What has Stefani Carter been up to since?
Let's recap. After leaving the state legislature, Stefani Carter went to work for Monty Bennett, a hotel chain owner and supporter of right-wing political causes, including vouchers for private schools. Oh, and he's an east Texas ranch owner who was then in a fight over a water pipeline that Fort Worth was building to supply water to Fort Worth. Maybe he thought having a former state legislator on his payroll might help him win his fight with Fort Worth.
In 2016, the third largest shareholder in Bennett's company, the company Stefani Carter is a director of, accused the incumbent directors of a "breach of fiduciary duties." Stefani Carter was called out by name as a "supposedly independent director" who was asked "to explain to Ashford Prime shareholders how potentially taking in excess of $200 million of the shareholders' money and giving it to a related party controlled by Chairman Bennett — and getting nothing in return — is consistent with their fiduciary duty obligations to Ashford Prime shareholders."
In 2020, Monty Bennett's company, still with Stefani Carter as director, returned $76 million in loans meant for small businesses through the pandemic's Paycheck Protection Program. Apparently, they weren't entitled to the money and were caught.
Now, in 2024, Stefani Carter is back in the news, and again, not for good reasons. As D Magazine puts it, she still "suckles at Bennett’s REIT" (Real Estate Investment Trust). She has been named in a lawsuit that "concerns a proxy fight [with] an out-of-state guy named Jason Aintabi who, through a company called Blackwells, owns shares in Bennett’s hotel operation and would like to have other shareholders vote on board members he has nominated."
Why are shareholders upset with Bennett? Maybe it's about that photo at the top of this article showing Stefani Carter on the dais at the New York Stock Exchange with Monty Bennett's team ringing the bell to start trading on the day his company went public. In a more recent news story on April 4, 2024, "Monty Bennett's Ashford Seeks To Delist Itself From NYSE, Save Millions". According to the article, Bennett is in some financial trouble. His "executive team identified 19 hotels to give back to lenders through a deed-in-lieu of foreclosure process." Maybe shareholders don't like how things have been run at this publicly traded company with Stefani Carter as one of the directors.
Richardson voters helped elect Stefani Carter to the state legislature in 2010 and 2012. Coincidentally, in 2011, Richardson voters elected Laura Maczka to the Richardson City Council. Not that the two people are connected in any way other than the timing of their public service (ahem), but whatever were we voters thinking back then?
"Once a rising star,
Now embroiled in proxy wars,
Monty's paid minion."
—h/t ChatGPT
1 comment:
Re: "Richardson voters elected Stefani Carter to the state legislature in 2010 and 2012. Coincidentally, in 2011, Richardson voters elected Laura Maczka to the Richardson City Council. Not that the two people are connected in any way but the timing of their public service (ahem), but whatever were we voters thinking back then?"
As my mother used to say; "pretty is as pretty does."
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