BBH stands for Brown Brothers Harriman. There are some interesting
connections shown in the articles below. First, note that the 1818 Fund
(owned and managed by Brown Brothers Harriman partners) is involved with
investment partnerships with SmithKline Beecham, the big pharmaceuticals
company, and a Nobel company. It was also in the middle of the private
hospital Columbia/HCA, which was defendant in some huge lawsuits alleging
systemic fraudulent corporate wrongdoing. Even more interesting is the
involvement of the Brown Brothers fund in Gulf Indonesia, a corporation in
which Robert H. Allen, among others, is involved. Allen was caught in the
center of the Watergate scandal in 1974 because of his donation of $100,000
to the Nixon campaign headed in Texas by George H.W. Bush's friends, the
Liedtke brothers of Zapata Corporation. Allen was then chairman of Gulf
Resources and Chemical Corporation in Houston. His company controlled half
the world's supply of lithium, an essential component of hydrogen bombs.
http://www.tarpley.net/bush12.htm
Mazankowski's appearance on the same board brings in ties to The Power Corp
and Great West Life Insurance, which are largely controlled by the Montreal
attorneys of the Bronfmans, who were also instrumental in the workings of
Permindex at the time of John Kennedy's assassination. Paul G. Desmarais,
Sr., an attorney for the law firm of which Bloomfield was a partner--Tory,
Tory, DesLauriers & Binnington-- has long been a director of the Power
Corp., which is the ultimate parent of Great-West Life Insurance. He was
also a director of Barrick Gold, which has had as its advisors both George
H.W. Bush after he left office, and Brian Mulroney, former prime minister of
Canada.
>From all appearances, it seems as though George Bush is connected to all
these centers of power, not because of the small role he had in politics,
but because of his family's connections with the real center of power--Brown
Brothers, Harriman investment bank.
++++++++++
http://www.bbh.com/manda/medical.htm
Accordingly, an investor group led by the former Chairman of SmithKline
Beecham and BBH's 1818 Fund II, L.P., purchased Steri-Oss from Bausch & Lomb
for $67.0 million.
In 1998, after two years of rapid sales growth and rising profits, Steri-Oss
merged with Nobel Biocare, a publicly traded Swedish company and the largest
manufacturer of dental implants in Europe. The combination made Nobel
Biocare the largest manufacturer of dental implants in the world. The 1818
Fund II rolled over its investment into Nobel Biocare and continues to hold
a significant equity interest in Nobel Biocare. A BBH partner serves on
Nobel Biocare's Board of Directors.
=======
http://www.assetpub.com/archive/ps/93-04psapril/Apr93PS104.html
One of the funds Gordon tracked, the original 1818 Fund, was established in
1989 with 13 limited partners and an average commitment of about $25
million. It seeks to be among the largest investors in each company in its
portfolio by owning 10% to 30% of equity. The track record for its first
round was a 34% compounded return on 11 investments in publicly traded
companies. Pension funds were not among the limited partners, but Michael
Long, a Brown Brothers Harriman & Co partner who co-manages the fund with
Lawrence Tucker, says that they expect as much as a third of the new pool
now being raised for the 1818 Fund II will be pension assets.
Not all funds Gordon studied have performed so well. Another firm that
invests "patient" capital is Lazard Freres's Corporate Partners, a limited
partnership managed by vice president Dale Lenzner. The fund was established
in 1988, with $1.65 billion from 50 institutional investors including public
and corporate pension funds, banks and insurance companies, foundations, and
family groups. Corporate Partners does not make performance figures public,
but the annual compounded return on the public company group Gordon studied
was a good 50% higher than the S&P for the same period. But according to
Gordon's study, the return on the portfolio's publicly-traded common
stock-which shows the impact of corporate actions-was -22% relative to the
S&P as of last September. Like the 1818 Fund, Corporate Partners "prefer to
make minority investments and work in partnership with a company's
management and board of directors."
=======
http://www.osc.state.ny.us/divisions/press_office/upcol.htm
IN THE UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF TENNESSEE
NASHVILLE DIVISION
H. CARL McCALL, etc.
v.
RICHARD L. SCOTT, et al.
No. 3-97-0838
Judge Higgins/Haynes
The following Institutional Plaintiffs currently own shares of Columbia/HCA
Healthcare Corporation ("Columbia" or the "Company")...
Defendant T. Michael Long ("Long"), a citizen of Connecticut, has been a
director since 1991. Long is co-manager of The 1818 Fund, L.P., which
received substantial proceeds from its sale of Columbia common stock. Since
1995, Long has individually sold 11,250 Columbia shares for proceeds of
approximately $490,000. Long was a member of Columbia's Audit Committee from
at least 1992 through 1996, and is a member of the Company's Compensation
Committee.
....In addition to insider trading, five of the Directors, Scott, Frist,
McWhorter, Long and Averhoff, had disabling interests in the systemic
alleged corporate wrongdoing, as follows:
Scott, together with Columbia's other top managers, including Frist and
McWhorter, was responsible for day-to-day operations, setting the overall
corporate and business policies for the Company, and orchestrating the
Company's reliance on a pervasive course of fraudulent and unlawful
practices to generate inflated earnings and profits. Scott personally
profited from the Company's financial gains through his substantial
compensation. Scott also received from the Company a severance deal worth
approximately $10 million in cash, plus other benefits, that he negotiated
with the Board after the widespread wrongdoing at Columbia was made public.
Frist, like Scott, played a direct and extensive role in the management of
Columbia's day-to-day operations, including its reliance on fraudulent
policies, and thus was also directly responsible for the pervasive corporate
wrongdoing alleged herein. In addition to his substantial stock ownership,
Frist, like Scott, profited handsomely from this wrongdoing, receiving a
salary totaling more than $800,000 in 1995 and 1996. Frist, on behalf of
Columbia, participated in the negotiation of, and signed, the Scott and
Vandewater separation agreements.
McWhorter was also responsible for managing the day-to-day operations of the
Company and for the systemic, unlawful and fraudulent corporate policies.
McWhorter, too, personally benefitted from the Company's purported financial
success, receiving an annual salary of $600,000 plus additional benefits.
Long is a co-manager of the 1818 Fund, L.P. (the "Fund"). In 1991, the Fund
purchased a $40 million Columbia note, which, in 1994, was converted into
Columbia stock. The Fund also holds a warrant for 600,000 Columbia shares,
exercisable at any time prior to March 31, 1998, at a price of $13.33 per
share. Since January 1995, the Fund sold 781,762 shares of Columbia stock
for proceeds of $55,334,165. As a result, Long had a financial interest in
the systemic wrongdoing that maintained the market price of Columbia stock.
Averhoff also has a direct financial interest in this litigation. She is a
physician-investor in Cedars, one of the Columbia hospitals riddled with
Medicare billing abuses. Averhoff, through her ownership interest in Cedars,
receives direct and substantial financial benefits from the systemic
corporate fraud the Board authorized or permitted. Averhoff also benefits
financially from her admitting privileges at Cedars.
Royal has admitting privileges at Henrico Doctors Hospital, a Columbia
facility in Virginia. As described below, Royal also obtained significant
profits from his investment in HCA.
======
http://www.gulfindonesia.com/about/directors.html
Gulf Indonesia
T. Michael Long, 56, was elected to the Board of Directors in August 1997.
Mr. Long is a General Partner of Brown Brothers Harriman & Co. and is the
Co-Manager of the 1818 Fund L.P. and the 1818 Fund II L.P. He has been a
director of Gulf Canada since January 1995 and also serves as a director on
the Boards of Columbia/H.C.A. Health Care, Inc., Nobel Biocare, A.B., CMS
Incorporated and Vaalco Energy Company.
(Other directors):
Robert H. Allen, 72, was elected to the Board of Directors in August 1997
and has been Chairman of the Board since February 1998. Mr. Allen has been
the Managing Partner of Challenge Investment Partners since 1993. Mr. Allen
has been a director of Gulf Canada since January 1995 and also serves on the
Board of Directors of Federal Express Corporation, University of Texas
Investment Management Company, the Texas Growth Fund, GeoQuest International
and Nuevo Energy Corporation.
Richard H. Auchinleck, 48, was President and Chief Executive Officer of Gulf
Indonesia from August 1997 to May 1998. He has been President and Chief
Executive Officer of Gulf Canada since February 1998. Prior to that, Mr.
Auchinleck was Senior Vice President and Chief Operating Officer of Gulf
Canada from 1997 and served as Gulf Canada's Senior Vice President,
International and Marketing from 1995 to 1997.
Dr. Jack Birks, 80, was elected to the Board of Directors in August 1997. He
is life president of British Maritime Technology Limited. Dr. Birks served
as Chairman of the Board of British Maritime Technology Limited from 1985 to
1995, North American Gas Investment Trust Plc from 1989 to 1995 and Midland
& Scottish Resources Plc from 1982 to 1995. Dr. Birks is a director of
Bellwether Exploration Company.
Marcel R. Coutu, 46, was elected to the Board of Directors in November 1999.
Mr. Coutu became the Chief Financial Officer of Gulf Canada in April 1999.
>From 1989 to 1999, Mr. Coutu was the Director, Finance and Vice President,
Finance and most recently, Senior Vice President, International of
TransCanada Pipelines Limited.
The Right Honourable Donald F. Mazankowski, 64, was elected to the Board of
Directors in August 1997. Mr. Mazankowski is a Business Consultant. He has
been a director of Gulf Canada since 1993 and serves as a director on the
Boards of the Weyerhauser Company, the Power Group of Companies, Atco Ltd.,
Shaw Communications Incorporated, IMC Global Inc., Great West Life Assurance
and Investors Group and Canada Brokerlink Inc.
Walter B. O'Donoghue, 67, was elected to the Board of Directors in May 1999.
Mr. O'Donoghue has been a partner with Bennett Jones since 1980 and is the
Chairman of the Board of Directors of Athabasca Oil Sands Investments Inc.
Mr. O'Donoghue is a member of the Alberta Securities Commission. He has been
a director of Gulf Canada since 1995 and is on the Board of Directors of
Magin Energy Inc., BCT.TELUS Communications Inc., Wolcott Gas Processing
Ltd., Gibson Petroleum Company Ltd., and TransCanada Gas Processing Services
Ltd.
John R. Sanders, 57, was elected to the Board of Directors in May 1999. Mr.
Sanders is a Business Consultant. From 1993 to 1998, Mr. Sanders was the
Managing Director and Advisor to the Chief Executive Officer of Natwest
Markets and the Deputy Chairman of BOE Natwest. Mr. Sanders is a Director
and Deputy Chairman of Austin Reed Group Plc and serves as a director on the
Boards of BOE Limited and Sabanci Bank Plc.
Dr. Subroto, 71, was elected to the Board of Directors in September 1997.
Dr. Subroto was Secretary General of the Organization of Petroleum Exporting
Countries (OPEC) from July 1988 through June 1994, Indonesian Minister of
Mines and Energy from March 1978 through March 1988, and Indonesian Minister
of Manpower, Resettlement and Co-operatives from September 1971 through
March 1973. He is a member of the Indonesian Economics Association, the
International Association of Energy Economists and the Board of the Montreux
Energy Roundtable. Dr. Subroto also serves as a director on the Board of
Duta Graha Indah, an Indonesian construction company in Jakarta.
Henry W. Sykes, 42, was elected to the board of directors in 1999. Mr Sykes
is Senior Vice-President, Business Development and General Counsel at Gulf
Canada resources Limited. Prior to joining Gulf in 1998, Mr. Sykes practiced
for 15 years with the Calgary-based law firm Bennett Jones as an associate
and subsequently, a partner in the firm.
