Teresa for Mayor?

 

Teresa Cascioli  is the latest name to hit the mayoral rumour mill.
The former Lakeport CEO is considering running against Eisenberger in October's municipal election.

Cascioli is a hometown gal with the type of profile and personality that could give our incumbent mayor a run for his money. One of my colleagues compared her to feisty Mississauga mayor Hazel McCallion (albeit a much younger Hazel McCallion).

She's also got the finances to launch a campaign -- Labatts gave her a cool $43 million when they bought Lakeport in 1997. She's also been very generous to her hometown through her charity. 

However, if she does decide to run, there are two big hurdles she'll have to deal with. First, she lives in Burlington. Any council candidate must live in Hamilton. Second, she's been involved in a high-profile lawsuit that could could cloud her campaign.

So, Hallmarks readers, what do you think? Would you like to see Cascioli run?

Comments

[Trev]

Emma. You need to change the topic from teresa for Mayor to Cal for Mayor. Theres only thing DiFalco doesn't have that Cascioli does- millions of dollars. But Cal is a Hamiltonian and a fgood one at that. you can't buy that.

[TerryS]

Let's see, Jay doesn't like successful people. Ron Foxcroft is a successful businessman and Hamilton booster. Larry was an elementary school teacher for goodness sakes and Theresa is a homegrown gal according to the Spec who did well. Is there something wrong with that. As for Fred, he is a Hamiltonian too, just not a good mayor according to even himself who said that being fair at a job is good. What was his training? Real Estate? Not successful. Politics as a Councillor? Was chased out by Chad. Stay at home dad? I guess he might have done that well.
Jay, let's not let your mistrust choose badly for Hamilton. I don't know if Theresa would make a good mayor. but I do know she turned a failing company around and made money which she is donating back to the community...is that enough to make you not trust her? Heaven help us if it is!

[Sandy]

Drescel's covberage today and Emma's story just shows that The Spectator has lost touch with Hamilton. Mr. Cal DiFalco from The Hamiltonian is the peoples choice. On draft a mayor, he is leading over everyone including cascioli. Draft a mayor is not the be all, but it says something.Ordinary Hamiltonians want Cal to run. He doesnt have millions. Guess that what it takes to get the front page in your paper huh?

Sandy

[Michelle Hruschka]

Cal is now leading the whole pack in virtual world.

Tom: You seem to have an issue with Cal Di Falco, not really sure what it is but for me, he is the person who has most engaged the people in this city. That is what I do like about him, he is a community activist that is not afraid to bring up hot topics for discussion.

Given some of the comments by either the investors or employees of Lakeport says a lot to me at least and will to others as well.

[Vic]

I want to comment on the draftamayor website. Why is it that they are not posting all our comments in regards to Cal DiFalco? Someone posted in regards to his job title and it is not true . Mr. DiFalco does not currently work for Correctional Services. Another question why isn't the Spec interviewing Mr. DiFalco. He has the highest votes on draftamayor. Hamilton wake up and vote Cal for Mayor. Too much monkey business going on.

[GraceM]

There must be merit to some of the bloggers stating that there is more to the Fracassi/Cascioli relationship. The Spectator should do an expose or at least get to the bottom of the truth to what really happened to sour their business relationship. It might make for a good made for TV movie. Do you really want a mayor who is currently embroiled in a lawsuit, where some of the allegations allude to forgery? Do we need another Larry Dianni fiasco? It's one thing to run a company and be the ultimate decision maker as a one person show, it's a lot different being a mayor, having only one vote on council and trying to convince 15 other members to vote in your favour that takes true leadership which she is not. Don't be confused by the nice ads that she ran and the pretty face, how does someone go from being at the City of Hamilton from 1994 to being CEO of a brewery a few years later. Come on people wake up, here's a possible theory: Fracassi put her there for a reason. it wasn't for strategy reasons it was for tactical reasons. The reason why she is 71 million dollars richer is because of Fracassi, and thus the lawsuit is about a side deal gone badly. Fracassi arranged for the sale of Lakeport prior to the OSC and SEC rulings on Philip Environmental Services. Shortly thereafter Lakeport was converted to income trust; it was rather convenient that the timing of both were so close, therefore the income trust strategy must have been contrived prior to Fracassi selling. There must be some truth to the lawsuit, and this is who you want as leader of our City! Go Hamilton!!

[Maria G.]

I would like to state to you that Mr. Cal DiFalco would be the perfect candidate for Mayor. I have had the pleasure of meeting this gentleman on many occasions and have no doubt he can lead our city. I would also like to mention that there is an error in Harold Andersons posting on Draft A Mayor, Mr. DiFalco does not work for Correctional Services. I think they should do some research before they post things. Cal you have my vote!

[TerryS]

What's a Cal Di Falco?

[Sergio]

What's a Cal DiFalco? www.thehamiltonian.net

[Tom Robertson]

Is DiFalco even planning to run

[Jack S.]

DiFalco is what Hamilton needs. He understands the struggles the average person goes through. He is intellegent, outspoken, takes no bull and won't let anyone stand in his way. I met the man and heard him talk on many occasions and let me tell you he does not hide behind lies...he is the truth and can lead our City and people into one of the best Cities in the world. You have my vote. There would be no more games.

[Dolores]

Taken from the Hamilton Spec quote:
June 12, 2007
STEVE BUIST
THE HAMILTON SPECTATOR
(Jun 12, 2007)
Allen Fracassi claims that his former business partner Teresa Cascioli took advantage of insider information and their close personal friendship to deprive him of millions of dollars in a 2004 stock deal that gave her control of Lakeport Brewing.

Fracassi's allegations are contained in a 53-page statement of claim filed in Hamilton court as part of a $50-million lawsuit he's launched against Cascioli, Lakeport's CEO until Labatt acquired Hamilton's buck-a-beer brewer in late March.

The lawsuit provides a glimpse of what Fracassi claims was a close friendship with Cascioli, right down to the sharing of their most private personal and financial information.

But the court document also hints at darker allegations, including a claim by Fracassi that Cascioli used a stamp with his name on it to put Fracassi's signature on key corporate documents without his knowledge.

Fracassi's lawsuit contains allegations that have not yet been proven in court. He declined to comment on the lawsuit.

Cascioli issued a brief statement denying the allegations.

"The claim is entirely without merit and we will vigorously defend it," said Cascioli.

Fracassi, the former president of Philip Services Corp., and Cascioli met in 1994 when she was working for the former Hamilton-Wentworth region. At the time, Philip was negotiating a deal to operate the region's water treatment facilities and the company decided to hire Cascioli.

The origins of their Lakeport dispute date back to 1998, when Fracassi and Cascioli joined forces to pull Lakeport out of bankruptcy protection.

The two created a company called Do 4U Services Corp. -- Fracassi owned 75 per cent of the shares, Cascioli owned 25 per cent.

In March 1999, they created another company called AlphaCorp Holdings Ltd., which was a wholly owned subsidiary of Do 4U.

When Fracassi and Cascioli brought Lakeport out of bankruptcy protection in the summer of 1999, it was done through their AlphaCorp company. Fracassi advanced more than $3 million in capital for AlphaCorp to acquire Lakeport, and Cascioli soon after became the beer maker's CEO.

That meant that Lakeport became a wholly owned subsidiary of AlphaCorp, which in turn was a wholly owned subsidiary of Do 4U.

By 2004, Fracassi decided to sell his 75 per cent share of Do 4U and he claims that Cascioli was entrusted with the job of handling the negotiations.

The lawsuit claims that Fracassi believed Cascioli was acting on his behalf to obtain the best possible price for his shares of Do 4U.

But at some point in the fall of 2004, he states, Cascioli became interested in purchasing Fracassi's shares for herself and didn't disclose that fact to Fracassi, which put her in a conflict of interest.

In her discussions with potential investors at the time, Fracassi claims that Cascioli told them not to discuss "any aspect of their discussions and negotiations with Fracassi," and that she alone would communicate with him.

Cascioli ultimately purchased Fracassi's 75 per cent stake in Do 4U, which gave her control of Lakeport, for $9.3 million.

Lakeport was eventually taken public in a deal that provided Cascioli with $28 million, and then bought out by Labatt in a transaction that provided Cascioli with another $43 million.

Fracassi claims that Cascioli had insider information about the performance of Lakeport and the future prospects for the beer maker that would have dramatically increased the value of the shares she bought from him.

He also claims Cascioli was meeting with senior executives from Brick Brewing Company and Big Rock Brewery about possible mergers or acquisitions of Lakeport in the fall of 2004 before she purchased Fracassi's shares.

From 1996 until the Do 4U share sale in 2004, Fracassi alleges, he and Cascioli spoke by phone almost daily, met regularly, "confided in each other regarding their most private and confidential personal information and confided in each other regarding their most private and confidential business information."

Cascioli managed all of the personal affairs of Fracassi and his wife and children, the lawsuit alleges, including their bank accounts, credit cards, expenses, investments and personal income tax returns.

"They shared and entrusted each other with personal and confidential information concerning their personal relationships with others and their personal finances," Fracassi claims.

Fracassi alleges that over a five-year period from 1997 to 2002, Cascioli was the only person to access his safety deposit box, which contained private and confidential personal and business documents.

The lawsuit also claims that "unbeknownst to Fracassi, Cascioli used a stamp of Fracassi's signature to affix Fracassi's signature to corporate documents ... in 2002."

In addition to $50 million in damages, Fracassi's lawsuit seeks an order allowing him to trace the funds that flowed from the various transactions to any money and property currently held by Cascioli and her companies so that a lien can be imposed.

Fracassi is also seeking an interim order that would prevent Cascioli and her companies from disposing of any money and property that originated from the transactions.

[Mary Louise]

That's the most recent article I could find on the Fracassi lawsuit too. 2007. High time the Spec did a follow up, especially if they're touting her as a mayoral candidate.

[Michelle Hruschka]

I agree with Mary Lousie, come on Spec, do a follow up on this story. She sounds like a real nasty piece of work if the allegations prove to be true.

[Dolores]

Just wondering why the Spec is not interviewing Cal DiFalco. This gentleman is front page material. You have my vote Cal!

[Tom Robertson]

Mr. DiFalco has never stated any desire or intention to run for Mayor. I am sure if he does The Spec will be banging at his door.

[Dolores]

Why is the Spec at Ms. Casciolis door then. According to the City Website she has not filed to run for Mayor. Check it out at this website.

http://www.hamilton.ca/CityDepartments/CorporateServices/Clerks/MunicipalElection/Nominated+Candidates.htm

[pay stub form]

Why not? may be we can feel women touch from her work. Women can do many things better that guy.