Timothy Connors Open to Opportunities. Says Board has Not Contacted Him

WPCNR SCHOOL DAYS. By John F. Bailey. February 19, 2013:


Former Superintendent of Schools Timothy Connors reached at his home in Sutton, Massachussetts, told WPCNR this morning, he has not been contacted by the Board of Education as a possible interim superintendent of schools for the city, while the Board of Education considers whether or not to search for a new Superintendent to replace Dr. Christopher Clouet.


 “I have not heard from them at all,” Connors told me, though he said he had been telephoned by a person from White Plains, not a member of the Board, who informed him of Dr. Clouet’s decision to leave the district last week.


Dr. Clouet was appointed Superintendent of Schools for the Union Free School District of the Tarrytowns  last Thursday night and has officially accepted the Tarrytowns  job, according to a Tarrytowns district spokesman Friday morning.


A member of the Board of Education told WPCNR Monday evening the Board needed a couple of weeks to sort things out as to how they were going to proceed, having just learned of the impending departure of Clouet last week.


Previously two Board members told WPCNR that Clouet wanted to reopen his contract, and the board did not want to reexamine his contract, since Clouet had 2-1/2 years remaining on it.


 Clouet had been earning $227,000 as White Plains Superintendent, and has been hired by the Tarrytowns for $253,000 according to the Tarrytown Board of Education Agenda last Thursday.  The White Plains Board member I spoke with last night said Clouet had not yet officially resigned from White Plains.


I asked the White Plains Board member  if the Board had been in touch with Connors,  the member said that since Connors left White Plains he had talked with the district and kept up contacts.


 Asked specifically if the Board had talked with Connors about possibility of helping out, the Board member said, “Of course we have.”


Asked if the Board had to release Clouet from his contract officially, the board member said they did not believe the Board had to do that.


Mr. Connors was the Superintendent Dr. Clouet replaced in 2009 when Clouet came to White Plains from New London, Connecticut.


Mr. Connors retired from the White Plains Schools in June 2009, and after applying for Superintendent positions in Worschester, Massachussetts  in 2008 and Nantucket, Massachussetts in the spring of 2010, he accepted the position of Interim Superintendent at the Hastings-on-Hudson School District for 2010-12, while that district searched for a Superintendent. After one year of searching, Hastings found no one that they could come to an decision on.


The Hastings district rehired Connors for a second year as an Interim Superintendent for 2011-2012, hiring  Dr. Roy Montesano in January of 2012, for the 2012-2013 year, with Mr. Connors finishing up his Interim assignment at the end of June, 8 months ago.


Connors told me he lived in White Plains for the two years he was Interim Superintendent in Hastings.


The President of the Board of Education, Rosemarie Eller, has not returned a WPCNR call asking for a statement about Dr. Clouet’s departure, and for clarification of whether Connors is being considered as a “go-to” option to fill the Superintendent position either interim or otherwise.

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Tarrytown School Board Votes Unanimously to Hire Dr. Christopher Clouet to Head

WPCNR SCHOOL DAYS. Exclusive. February 15, 2013:


The Board of Education of the Union Free School District of the Tarrytowns office announced to WPCNR Friday morning that the Board voted unanimously to authorize the hiring of White Plains Superintendent of Schools Dr. Christopher Clouet for a four year contract.


The Board office also announced that Dr. Clouet has accepted the position at a first year salary, beginning in July of $253,000, $27,000 more than White Plains is paying him.


Clouet will leave White Plains after serving four years. He was hired to replace Timothy Connors in 2009. The White Plains Board of Education had an opportunity to retain Dr. Clouet, but refused to reopen his contract.

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Board of Legislators Vet 4 Playland Would-Be Operators at County Center

WPCNR PLAYLAND PRESS. From the Westchester County Board of Legislators. February 14, 2013:


More than 200 people flocked to the Little Theater at the Westchester County Center last night for a public information session on the four proposals to revitalize Playland, the 280-acre County Park and National Historic landmark. The event was hosted by the Westchester County Board of Legislators and moderated by Legislator Catherine Borgia (D-Ossining), chair of the BOL’s Government Operations Committee



The info session began with trade show-style presentations from representatives of the four revitalization proposals—Sustainable Playland, Standard Amusements, Central Amusements and the Paidia Company / Legoland—and attendees spent over an hour perusing displays, talking with the various representatives and gathering flyers and other materials related to the different proposals. The BOL’s entire Democratic caucus and one Republican legislator also showed up for the event.



The four proposals were presented in detail to the public, and then Borgia led an hour-long Q & A period in which both broad and specific concerns were addressed to the representatives of the revitalization proposals.



“I’m very pleased that so many people turned out for this information session,” said Borgia. “It was important for our evaluation process to give members of the public an opportunity to see the four proposals side by side and discern the differences between them. That’s the level of openness and transparency to the decision-making process regarding the future of Playland rightfully deserves.”



The BOL moved forward last month with its evaluation of the top four proposals for the revitalization of Playland when the BOL Government Operations Committee outlined goals for the decision process and began in-depth discussions with the four Playland RFP respondents regarding proposed operations, financial viability and intended modifications to the park and infrastructure.



Many of the questions fielded by the representatives of the four proposals dealt with economic viability, maintaining Playland’s amusement offerings, environmental protections, public access and projected attendance figures.



“The Board of Legislators has made a lot of information is available on the decision process because the revitalization of Playland will impact residents throughout the county, as well as in Rye,” said Borgia, who added that the BOL Government Operations Committee will soon make its own recommendation about which Playland proposal is right for Westchester.



“After that, the Board of Legislators will look to collaborate with the Administration in working with the group entrusted with Playland’s future,” said Borgia.



In today’s meeting of the County’s Acquisition and Contract Board, BOL Chairman Jenkins (D-Yonkers) provided for the record prior legislation showing that in 1980 the BOL had approved the management agreement with Marriott to operate Playland.



Also, the BOL has retained the services of an outside auditor to review the financial aspects of all four Playland revitalization proposals.



Links to each of the Playland proposal presentation can be found on the Government Operations Committee page on the BOL website: http://westchesterlegislators.com/committees.html?id=2029

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Inside Information Hedger Gets Probation








 




WPCNR FBI WIRE. From the Federal Bureau of Investigation. February 14, 2013:


Preet Bharara, the United States Attorney for the Southern District of New York, announced that STEVEN FORTUNA, who co-founded the hedge fund S2 Capital LLC (S2), was sentenced Wednesday to two years of probation for his participation in an insider trading scheme in which he obtained and traded on material, non-public information (Inside Information) about various publicly traded companies from employees at other hedge funds.


 FORTUNA pled guilty in October 2009 to three counts of conspiracy to commit securities fraud and one count of securities fraud pursuant to a cooperation agreement with the government. He was sentenced  in Manhattan federal court by U.S. District Judge Sidney H. Stein.


As part of the conditions of his probation, FORTUNA, 50, of Westwood, Massachusetts, was ordered to serve six months of home confinement with electronic monitoring and 120 hours of community service during each of the years of his probation. He was also ordered to pay forfeiture in the amount of $200,000 and a $400 special assessment fee.


According to the information, statements made during FORTUNA’s guilty plea proceeding, and the government’s sentencing submission in his case:


From July 2008 through March 2009, while working as a portfolio manager at a hedge fund he co-founded, FORTUNA obtained Inside Information concerning various technology companies from employees at other hedge funds for the purpose of trading on that information. The Inside Information was disclosed by company insiders in breach of their duties to their respective employers.


For example, in July and August 2008, FORTUNA obtained Inside Information concerning Akamai, Inc. (Akamai) from Danielle Chiesi, a portfolio manager at New Castle Partners, a hedge fund. Chiesi told FORTUNA that Akamai planned to report that its revenue guidance for the following quarter would miss expectations and that, internally, the company believed that its stock price would fall following the quarterly earnings announcement. FORTUNA executed trades based on that Inside Information, and earned approximately $2.4 million in profits.

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