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 GOP voters abandoned her in the primary for Linda Koop. Who then got a cushy job on the board of directors of Monty Bennett's hotel chain. Monty Bennett himself, one of the biggest supporters of right-wing political causes in Texas. You might know of his "newspaper", The Dallas Express (use of scare quotes intentional).
The last time we checked in on Stefani Carter was 2024, when we reported on why shareholders were upset with Monty Bennett's board for how they were running the company. She's in the news again, this time for resigning "without dispute" from the board of directors. There's no indication if she was given a going-away party.
I guess I won't be able to use that photo at the top of this article any more. That's Stefani Carter and the rest of the board of directors for Braemar Hotels & Resorts (BHR) ringing the bell of the New York Stock Exchange to open trading on November 20, 2013, the first day shares of BHR began trading on the NYSE. If you invested $1,000 in BHR on that first day, your investment would be worth just $118.40 today.
There's no word on how much Stefani Carter herself received during her tenure as director. Given information in Braemar's 2024 proxy, a conservative estimate would be in the range of $2 million. Nice work if you can get it.
And that's what Stefani Carter has been up to.
"In Stefani's term,
the stock chart slopes like ski trails
toward the valley floor."
—h/t ChatGPT
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