LOUIS BACON OLDER BROTHER ZACK TO MAKE CHANGES ALSO IN THE BAHAMAS?

Moore Capital hedge fund made a dismal performance this year, so much so that it's President, Louis Bacon, is returning $2 billion to his investors.  The September 13 report by Bloomberg on Moore Capital Management LLC, highlighted that, and documented how the $15 billion hedge fund firm cut more than a dozen investment jobs as it restructures one of its equity teams.   This, according to three people with knowledge of the matter who believe that the changes were made due to the companys bad performance.

 

Zack Bacon III

The Hedge Fund manager, having much concern as a result of the large reduction in headcounts and the possible damage it could bring to his business, hired his older brother, Zack Hampton Bacon III, in February to oversee strategic planning.  

The older Bacon was also responsible for making the cuts to staff, despite the fact that many of them had been working for his younger brother, 56, for years.  A close source revealed this just after Bacon made the announcement, telling his clients the same month that he would be returning $2 billion, or about 24 percent of his main fund to investors.  Bacon claimed it may be too big for him to generate returns in line with historic profits as "liquidity and opportunities have become constrained".

 

The Moore firm Bacon founded in 1989 with some 208 employees invloved in investment-advisory roles, including research, calls for his brother Zack to deal with the resturcturing cutting down a 426 staff that include clerical workers.

 

What also appears to be a more critical matter for Bacon are his reported legal matters in the Bahamas with land disputes.  There are also pressing concerns from the Bahamian police about the number of dead bodies found at and near Bacons Point House home in Lyford Cay. 

Louis Bacon

Members of the Bahamian media are still seeking answers from the police commissioner on the death of Dan Tuckfield - Bacons former property manager - who was found dead a few years ago in a jacuzzi.  There were said to be at least ten unguarded hunting guns that also had caused for the police commissioner to seek the amend the laws on how many guns foreign residents could have. Concerns also arose from a recent dead body found again in May of this year, believed to be a caucasian found on Bacons Point House beach.

It has also been reported that the Hedge Fund giant is very nervous because the Bahamian media have been seeking to press members of Bacon's staff on the series of events taking place at his home in Lyford Cay.

 

As a result, is is being rumoured that Louis Bacon will also have his older brother Zack spend some time in the Bahamas to straighten out these plaguing matters with Bacon's staff of about 10 to 20.  The majority of Bacon's Bahamian staff is said to be of Haitian descent - another matter that seems to raise a serious concern for the Bahamian Immigration Department knowing that the country is seriously challenged with the huge number of foreign nationals in such a small nation of about 350,000 faced with a big unemployment problem.  

 

With Bacon beng faced with his problems, which seem to be mushrooming in the financial market as well as in social and legal matters in the Bahamas, it seems obvious why he is now calling on the bigger and supposedly wiser brother Zack to try and rescue and possibly redeem Bacon from his unsavory business transactions and unkind behaviour.     

Daring Lyford Cay land snatching, tales of back room lawyer deals, kidnapping a Public Road and Easement

By E. Williams

How does someone steal a public road, overtly alter the existing right of way or easement over it that belongs to others, then swear in Court documents that they own that roadway? Then they erect hindrances to curb the enjoyment of its use to others entitled to pass over it, install spy cameras along its route, and, boldly put up signs warning others not to trespass over it.

Ask Louis Bacon, the elusive Hedge Fund manager, who has gotten more emboldened in his Lyford Cay duel with Peter Nygard, the Canadian Fashion Mogul.

“No question about it. Mr. Bacon has new condescending airs about himself and new razor porcupine spines. His lawyers at Graham Thompson & Company seem to get any appointment they want from this new PLP administration and they have the ear of powerful and influential forces.  So if you are Mr. Bacon why not apply the screws a little tighter,” says a credible source who works in the legal and real estate field.  “Mr. Bacon played the role of the good neighbor”, when he first came to The Point House, a part of his $30 million estate next to Mr. Nygard’s $100 million Mayan themed homestead on the southwestern point of Lyford Cay, this reporter was told.

 During the FNM Government’s last term in office, Mr. Nygard found himself in the middle of a sortie of surprise attacks from  his “good neighbor”, Mr. Bacon.

Another reliable source close to the Nygard camp reveals that “Mr. Nygard thought that he and Bacon had a great relationship – cool, friendly, cordial is how we would describe Mr. Bacon’s conduct in the many meetings he had with Mr. Nygard.  Looking back, I can see why Peter would genuinely think Bacon was a good neighbor.  But all along, Mr. Bacon and his lawyers at Graham Thompson were preparing and plotting a fatal strike to take Nygard Cay and chase Peter out of town in ignominy and disgrace.”

“The plot was disguised in many shapes and forms. From any assessment of how it was hatched, exported and enacted, one would have no doubt that there were clever legal minds behind it every step of the way. It is now no secret that many Bahamian professionals stepped over the line and got involved in the larceny of their big spending foreign client. Mr. Bacon could not have affected this now exposed strategy to manipulate government agencies so as to forcibly take Nygard Cay from Peter, if he did not have the full concurrence of others,” this source says.

“And then to add insult to injury or to throw pepper in the fire, Mr. Bacon became an ally of the then ruling Free National Movement governing party (May 2nd 2007-May 7th 2012) which turned out to be new part of the strategy to weaken Peter and bring him to his knees.  This manifestation of this was powerful FNM Officials publically berating Peter and covering up for Mr. Bacon as his master strategy to own Nygard Cay was being implemented,” the source continues.

“I am talking about the horrific character assassination on Mr. Nygard. They were actually paying persons to make false claims and allegations to cause Peter to suffer in his business and personal life. The physical damage done to Nygard Cay by a fire in 2009, could not be repaired as licenses to rebuild were denied without reason. Who cannot appreciate the psychological trauma they put Peter through when they changed the lawful Easement which gives access to Peter’s property and began suggesting that his attempts to correct the situation was unacceptable behavior for an expatriate resident. Clever lawyers had to be in on this. They wanted to land lock Peter and force him to sell to Bacon,” the source said.

“Peter’s lawyer, Keod Smith, discovered the Easement plot and now has also discovered that adjoining the roadway of the Easement is actually another roadway which Mr. Bacon had sworn in Court documents was his property although, in fact, it does not belong to him, and never did. Yet Bacon used this public roadway to inflict even more damage on Peter,” the source said.

“We are concerned as to why a senior barrister such as The Honourable Sean McWeeney in the Chambers of Graham Thompson & Co, a former Attorney General, would not have intervened and stopped this sinister plan of Mr. Bacon. We are more concerned because after the FNM’s lost of the May 2012 general elections, the Bacon side seemed to have abandoned their plot and offered to settle the matter by returning Mr. Nygard’s property rights to him,” a source close to Nygard said.

The source went on to say that “Peter co-operated. In the interest of the good image of The Bahamas, he wanted this dispute that was being publicized internationally to go away.  With this in mind and in the spirit of the settlement negotiations, Peter withdrew and discontinued a filed criminal prosecution in the Magistrate’s Court against Bacon and nine other high profile persons for CRIMINAL CONSPIRACY who were involved in the plot to chase him off Nygard Cay.  In exchange, Mr. McWeeney, through his partner, Mr. Robert Adams, undertook not to file any lawsuits against Mr. Nygard or any of his Bahamian supporters who took it upon themselves to expose the ongoing plot to destroy Peter and get him kicked out of The Bahamas.  But Bacon and his lawyers reneged and filed two law suits against Mr. Nygard as well as suits against six of those persons supporting Mr. Nygard.  It is telling that while some of those Bahamians being sued by Bacon were actively and openly involved in getting the PLP reelected in the May 2012 general elections, Mr. Bacon’s money was employed to keep the FNM in office to wield the very same power which, through the PLP, Graham Thompson & Co has now been handsomely benefited by getting key roles on key government boards and commissions,” the source said.

“This is even a greater and more deliberate harassment on Peter since Mr. Bacon fully understands that the effects of such frivolous law suits, is that it will cost Nygard millions more to defend his reputation; money that can be directly injected into our economy to rebuild Nygard Cay.  And then the Bacon camp returned with a double whammy on Mr. Nygard, accusing him in the Supreme Court of being in contempt of court action for attempting to right the very wrongs perpetrated on him by Bacon in the first place,” the source said.

“Based on what Attorney Smith had discovered about Bacon’s attempt to commandeer the public roadway which was set out in affidavit evidence in the Supreme Court, Bacon’s lawyers at Graham Thompson & Co were forced to drop a criminal case against Mr. Nygard accusing him of removing gates used to block the entrance roadway to Nygard Cay and had been installed on wall pillars that were built by Bacon on the public roadway he had claimed was his.  The clear reason for withdrawing was that it could be definitively proven that the gates were wrongly built on land that never belonged to Bacon.  You can’t claim that a crime was done to you when the thing that you are complaining about is or may be, in and of itself, subject of criminal activity. Bacon would have had to rely on the untrue evidence he had others swear on his behalf in the court that he, in fact, owned the land.  Meanwhile Nygard finds himself trapped in a legal catch 22 – if he didn’t defend his rights to the roadway he would lose his rights – but in trying to defend those rights, he was open to being sued by Bacon who, under the FNM Government, Bacon had what appears to be carte blance to do as he wished.  Over a year ago, two of Nygard’s staff were arrested, charged and arraigned before the Courts for putting up signs on the very wall-pillars that have now been shown as not belonging to Bacon in the first place and known by him when he pressed charges,” the source said.

It has been reported that in the Nygard Camp, they are now bracing for an all-out legal battle to have the Court declare once and for all that this public roadway, which is a part of the major bone of the property dispute, does not and never did belong to Mr. Bacon.

The roadway in question forms part of a series of conveyances dating back to 1938 where Sir Harold Christie, the developer of Lyford Cay, termed it as a road reservation and granted rights of way in the traditional common law phraseology to all future title holders to the surrounding benefiting plots of land.

According to affidavit evidence before the Court, Mr. Bacon had reportedly erected gate pillars and a gate on this road that does not belong to him. Mr. Bacon also locked the gate and put up signs which read:-  “Private Property ” and “ DO NOT TRESPASS ”; signs as well as erecting various obstacles on the road such as eight “nasty speed pumps and huge boulders . Bacon also arranged to have the elevation of the roadway to be changed, creating a permanent deep mud-lake in front of the ornate gilded uniquely designed entrance gate to Nygard Cay.   This makes in virtually impossible to enter after small squalls of rain because the water pools.

Mr. Nygard, who lives at the most western end of this roadway, is claiming that Mr. Bacon’s improper and illegal trespass on the road reservation should be halted by the Courts.

A review of the compendium of conveyances dating back from 1938 to the present show that this road reservation remains in the ownership and possession of one of the several companies Sir Harold used to engage his property holdings in the Lyford Cay subdivision in Lot numbers one (1) and two (2) in Block number one (1).

Mr. Nygard is also challenging Mr. Bacon’s disturbance of a deeded Easement or right of way that goes over Mr. Bacon’s property, but once again Sir Harold as predecessor in title and subdivision developer had deeded a right of way to future owners of the adjacent property which became Nygard Cay.

Mr. Eric Gibson, Property Manager for Mr. Nygard, makes these assertions in an Affidavit filed in the continuing Supreme Court action to show Mr. Bacon’s claim to ownership of the road reservation is deceitful and false.

Mr. Gibson explores the root of title to Mr. Bacon’s Point House property and concludes that not only does Mr. Bacon not own the road reservation, but Mr. Bacon’s predecessors in title did not themselves own this road reservation.  When the company owned by Mr. Bacon purchased the Point House, the acquisition did not include that road reservation because the previous owners did not own it, never suggested that they did or try to convey it to Bacon.

The following are excerpts lifted from Mr. Gibson’s Affidavit:-

“CONCLUSION

22. From the most recent survey plan completed by Donald Thompson, (see Exhibit “E.G.7” above). I verily believe it to be clear that Bacon has not only wrongly altered the easement over his property without the approval of Mr. Nygard and in ways that amount to an interference of his use, but has unlawfully possessed significant portions of roadway (original right angled roadway and 300ft stretch of road reservation) the title of which was NOT his or that of his company.
23. In light of the foregoing, Attorney {Keod} Smith concluded and I verily believe that the gate erected by Mr. Bacon is completely wrongly placed.  I believe that Mr. Bacon knowingly erected it on property that was not his in an attempt to clandestinely cordon-off a road reservation which was preserved for, inter alia, Peter Nygard as the owner of Nygard Cay, the most southwestern tip of the 11.8 acres of land being Lot 1 Block 1 of Lyford Cay Estates according to the site Plan in the Deed of Conveyance dated 12th December, 1938 by which the said 11.8 acres was sold to Harold G. Christie by Lyford Cay Co. Ltd.  While the northern placed pillar of the gate appears to be on Mr. Bacon’s premises of The Rocks, the southern placed one is clearly built in the middle of what was designed to be the road reservation, the land of which has never been conveyed to Mr. Bacon or any of his companies.  In any event, the space between the pillars is only 18.5 feet when it was reserved as being 25 feet.”  

“Mr. Nygard is now waiting for a verdict on a contempt charge taken by Bacon – a charge that he knew nothing about – but a charge that was deviously laid by Bacon and his legal tem to bring Peter to his knees to force him to forgive all future claims that will run into tens of millions in damages that would be awarded to Mr. Nygard against Bacon. All because the so called good neighbor, Louis Bacon, was a wolf in sheep’s clothing, out to devour Nygard Cay. Bacon just wanted to get his paws on Peter’s property,” the source maintained.

HEDGE FUND GIANT BACON PROVES PERSONAL INTERESTS ARE HIS TOP PRIORITY

This month, Forbes laid out a lengthy exclusive expose on the hedge fund billionaire Louis Bacon.  The timing couldn't have been better for Bacon, who is facing mounting criticism on several fronts for his mysterious and elusive behavior that has teetered on the verge of criminal responsibility on several occasions.  He has been so elusive to the media that Forbes' account (although bias by the standards of several other members of the press who read the feature posted on Forbes' website this month) have carefully dissected the script to learn more about the man who is spreading his wings across the four hemispheres in what appears to be a quest of extensive personal power.   

Louis Bacon

The Forbes article describes 54 year-old Bacon in a larger-than-life manner, titling the report as "Hedge Fund Giant Louis Bacon's Bold Mission To Save The American West".  It's a daring headline that appears to have sought to solidify Bacon's reputation as a conservationist who is willing to use his personal funds to help save massive expanses of land in the western region of the United States.  He is painted as a hero of sorts for the environment, and Forbes provides extensive detail into Bacon's $175 million purchase of Trinchera Ranch, which represented at the time, the most expensive residential sale in US history.  The ranch will be home to a 165,000 acre Sangre de Cristo Conservation area, a mosaic of public and private properties protecting a large area of the Southern Rockies.  

Ironically, Bacon purchased Trinchera from the Forbes family, and the lengthy expose which will be published in Forbes October 8 edition, could not help but be seen as a pat on the back.  What Forbes may not have realized when sitting the ever-elusive Bacon down for an exclusive interview with reporter Monte Burke is that the truth would come out in the plain words of the reporter who had to discern his interviewee for himself. 

Immediately Burke notices how uneasy the hedge fund czar is with the personal interview - an uneasiness which would raise suspicion in any interviewer.  Bacon literally parries away as the reporter places simple questions to him.  Even if Forbes operatives gave him the confidence that the exclusive would benefit his image, it couldn't stop him from feeling uneasy when having to sit face to face with a journalist.  It may be that he feared the reporter may slip in one of the many questions that continue to mount about the bizarre movements of Louis Bacon.  

Instead, the questions are aimed from an environmental standpoint.  For nearly two decades, Bacon served as a professional asset manager, assembling a portfolio of landscapes in New York, North Carolina and Colorado, putting them into conservation easements and permanently saving them from future development.  He settles in to the interview to reveal a quote which sums up his environmental ethic: “A thing is right when it tends to preserve the integrity, stability and beauty of the biotic community. It is wrong when it tends otherwise.”  The Aldo Leopold quote he uses to define his intentions actually makes them quite clear.  If Bacon operates in any way contrary to what Leopold describes, one is indeed "wrong".  It is this very quote that gives the most insight into why the tactics Bacon is executing could be considered wrong as opposed to helpful for the environment as Bacons wants to portray them.  

Anyone who knows Bacon knows he is a wildlife enthusiast, and loves to shoot or bow hunt the healthy herds of elk, mule deer and bighorn sheep and other wildlife that roam the rockies.  As a matter of fact, the boss of Sotheby's Henry Wyndham was recently on a grouse shoot in Scotland organized by Bacon when he was shot in the face and throat and had to receive extensive medical treatment for 52 pellet wounds.  His purchases could be perceived as a billionaire setting up his eternal playground for the benefit of himself, his personal interests and those of his friends - a trump card that would solidify his stem of ownership in the west coast.

Trinchera Ranch a vast expanse of a playground for the wealthy whose pastime climaxes in the success of the hunt.  Forty miles of stream with trout makes it even more of a hunter's paradise. Bacon is managin g the entire property for fish and game.  Don't think that the miles of fence he tore down after making the purchase was for an environmental cause.  Bacon himself admits that the removal of the barriers "enhances the hunt".  His claim that his avid sporting interests makes him a perfect steward of the animals he hunts, but such a view is chided by the likes of environmental groups like PETA, People for the Ethical Treatment of Animals, despite the major attempts to paint him as an environmental steward.  Reports are that his illustrious friends can pay at least $10,000 to spend a week hunting in one of Bacon's organized shoots.  

Bacon's Bahamian comrade Earl Deveaux

The Forbes reporter points out the obvious kickbacks from the ranch conservation easement as granted by Bacon.  The article states: "Conservation easements offer a neat way for wealthy environmentalists like Bacon to have their cake and eat it, too.  Easements come with some serious breaks on taxes.  The easements are valued by taking the present value of the land, as is, and contrasting that with an appraisal of the land if it were fully developed. The tax break is the difference of the two. It was reported that Bacon got an $8 million tax deduction on his $11 million purchase of Robins. He refuses to divulge what a potential deduction would be on Trinchera, which already has tax credits for its agricultural operation, but says it will be somewhere in the neighborhood of what he spent to save it from the transmission line. Easements also offer another benefit: They will allow him to pass along the land to his children without huge capital gains taxes, because the land, which will never be fully developed, is valued at a lower rate."

So Bacon's personal intentions here are clear, and explains the uneasiness that he approached the interview with Forbes - an uneasiness that made some readers perceive that he has something to hide.  What he may be trying to hide may not be as far away from the eyes of the American press as he thinks.  Florida's southern neighbor, the sunny isles of the Bahamas, became the site of Bacon's Point House a few years ago.  His home in the tropical paradise and his actions with the former government there seem to give the biggest clues in to what the hedge fund king may really be up to - an apparent quest to amass vast amounts of personal wealth under the guise of land protection, which means he can get vast amounts of land at a much cheaper cost and a greater benefit to him, even if he has to share some of it with the government.  That, in some ways, can be an advantage to him.  It is obvious that he has recognized this, as he has already donated large sums to the Republican Party in the US; the Tories party in the UK; and the Free National Movement Party in the Bahamas.  

At Point House, Bacon dredged the shoreline for a secret alcove that he could use to pull up in his sea vessels undetected, and without having to declare anything to the government.  The yacht basin is so secretive that it can only be seen from a boat facing the shoreline, where it becomes apparent that the dock is definitely constructed for maximum privacy.  The problem is, Bacon never thought it necessary to apply for permission from the Bahamas government to dredge the shoreline just like anyone else.  In addition, nothing came out of it when it became public knowledge that he had broken the pristine nation's environmental laws.  Since that was a cinch, it seems Bacon moved on to extend his property by creating what is called, interestingly, an easement.  The only problem is, the easement was build without permission from the Bahamas government, and its construction immediately resulted in several negative effects to his neighbor, Peter Nygard.  It became immediately clear to Nygard's visitors that something was wrong when they approached Nygard Cay and found the face of the entrance totally changed and no longer aesthetically appealing.  The Canadian fashion mogul found that his neighbors illegally built easement caused serious issues when it rains.  The land war,  or the border war as it stands, has yet to be resolved although no documentation exists which permits Bacon to build what he did.  

Bahamian media reports have explained the suspicion that Bacon is also involved in the major Andros Island development Kamalame Cay.  The cay is owned by Brian Hughes, close personal friend of former environment minister Earl Deveaux, who turned a blind eye to several major infractions that happened under his watch by his alleged friends.  Bacon is said to hide out at Kamalame Cay every now and then, and may be involved in the investment qualities of the development.  The problem is, environmentalists have already raised serious concerns as developers have already raped the sea bed in a particular spot where a large nursery for ocean fish existed.  

Deveaux allegedly orchestrated for Bacon to bring his elite friends to the forests of Andros and the recluse of Kamalame Cay to hunt for the precious white crown pigeon and wild boars there.  This idea was dashed and faced harsh criticism e because of the serious political, social, and environmental backlash it potentially had.

This is in stark contrast to the picture Bacon's friends and cohorts attempt to create concerning his philanthropic efforts.  If such efforts were genuine, they should coincide with efforts taking place in other parts of the world where Bacon's interests lie and not be seen as a contradiction in this place or that place, depending on how much power he may feel he is able to wield.

Leopold's muse, the very essence of Bacon's impetus when it comes to his recent philanthropy, is not being adhered to by the hedge fund king in actuality.  The philosopher called for "integrity, stability and beauty of the biotic community", principals so brazenly avoided when Bacon frolicked to the sandy archipelago, where he has successfully evaded the press so much so that Point House has been for many months now, up for sale.  

Nygard's Fashion Still Shines

http://corporate.nygard.com/uploadedFiles/News/YEAR_2012/WFP%20-%2011X17.pdf

PHIL RUFFIN A BETTER FRIEND TO CHRISTIE & BAHAMIANS THAN LOUIS BACON

It is no doubt that the Bahamas, like the world over, is going through one of the most difficult economic periods where it is caught up in the GLOBAL MELT DOWN.   It's a country being faced with most challenging times, struggling in finding creative ways to overcome the dark days of financial travesty that has caused the loss of many jobs and the foreclosure of many homes. This was a challenge of the previous Free National Movement (FNM) administration who failed to attract the right investors or business partners to help to jumpstart our fragile economy. Instead, the FNM chose the company of millionaires and persons of special interest such as the Aga Khan and Louis Bacon who, through their disregard for the law of the Bahamas, showed that some government officials can be bought for a price.  

Aga Khan IV

Louis Bacon

During these tough economic times, foreign residents like the Aga Khan and Bacon really did not bring any true economic value to the country or the Bahamian people. The friendship that a few high ranking officials in the former FNM administration had with them made it all the more apparent that there was no benefit for Bahamians to their arrival.  Rather, they seemed to engage in their personal agendas with a blatant disregard for the Bahamas' pristine natural conditions and turquoise waters.  

This is what the FNM's rich and famous friends did to the Bahamas and the Bahamian people and yet the FNM party, who is now in opposition, has the gaul to try and chastise the new Prime Minister Perry Christie and his administration, which has good and decent friends such as Phil Ruffin. 

Phil Ruffin

If any government is to chose a friend for or to introduce to this country and it's people to, it should be  investors like Ruffin who has proven himself to the Bahamas and the Bahamian people. It is a known fact that Ruffin was the former owner of the Wyndham Nassau Beach Resort and Crystal Palace Casino and Nassau Beach Hotel. With such an investment, Phil Ruffin had created many jobs; putting many Bahamians to work, which allowed them to build homes and send their children to college. This is not the case for the Aga Khan and surely not that of Louis Bacon. The FNM business friends were totally different and brought unwanted international attention to the Bahamas and its people. The Aga Khan with a one million dollar gift to the Bahamas National Trust and the assistance of then FNM Cabinet Minister Earl Deveaux who allowed the Aga Khan to dredge into the historical and sacred Exuma Marine National Park just so the prince could comfortably sail his 200 foot yacht right into a new dock at Bell Island.  That caused much controversy and protests from the local and international environmentalists.  

The hedge fund King Louis Bacon on the other hand, brought much shame and scandal to the Bahamas - especially to the people that live behind the tranquil gates of Lyford Cay where Bacon's Point House home is.  It's at Point House where a number of mysterious deaths were reported.  Bahamian police raided Bacons home in Lyford Cay for a number of illegal military speakers and supposedly quite a large number of licensed guns that the Commissioner of Police found to be very suspicious.  So it appears to be very hypoticritical for the leaders in the FNM party to accuse Prime Minister Perry Christie of keeping unsavory friends while it appears to be very true that it is the previous administration led by then Prime Minister Hubert Ingraham who cloaked the unsavory rich and famous people in the Bahamas who had their way with the FNM government.

Bacons True Colors Coming Out

More and more media houses are beginning to notice the unfriendly and cold, callous traits of Louis Bacon, the billionaire hedge fund manager who is now making more business news headlines than any other hedge fund manager trending at this time.

His latest move to chop 10 to 15 investment jobs in his company came as a shock to the business world who consider such a move to be drastic and out of the ordinary.  “Apart from a few hedge funds, it’s not that typical to see a large reduction in headcount in the industry,” said Ronen Schwartzman, founder of Ten Capital Advisors LLC, a New York- based firm that advises clients on investing in hedge funds. “Performance must be having an impact.”

To make matters worse, Bacon won't even stand up to the employees who have faithfully served him at Moore investments as portfolio managers and research analysts.  He has recruited his brother, Zack Hampton Bacon III to speak with the staff members about the axe; and security guards were waiting to escort him out of the building.

Bacon told clients last month that he planned to return $2 billion, or about 25 percent of his main fund, to investors, saying it may be too big for him to generate returns in line with historic profits as “liquidity and opportunities have become more constrained.”

This move caused much attention to turn to Moore Investments, and the results have not been pretty.  Here's how Dealbreaker summed up the hedge fund czar: "One thing you may or may not know about hedge fund manager Louis Bacon is that he likes to keep his human interactions to a minimum. It’s not a personal thing, just people in general thing. He doesn’t like ‘em and he doesn’t want to talk to or look at ‘em. For example, rather than taking five minutes to tell a subordinate he disagrees with a trade idea, Bacon has been known instead to retreat to his office and place an opposing trade, a tactic known as ‘fading’ a colleague.” Clients are treated similarly (“During meetings with…investors, Bacon, who often draws the blinds in his private office, frequently turns to his lieutenants to answer questions, often sitting silently through presentations”) and if you thought that being, say, the fruit of his loins meant special treatment, you were sorely mistaken (“One longtime assistant negotiates annual spending allowances with the elder of his children individually…Once they’ve agreed on the number, the assistant invites the child for a sit-down meeting with his or her father, during which Bacon usually signs off on the terms”).

The Financial Times referred to him as "publicity shy", while many other business reports pointed out how elusive Bacon is - a trait which has helped him to steer clear of some meaningful questions concerning criminal activity.  

In the meantime, he is making inroads for his most recent philanthropic donation.  He has vowed to protect thousands of acres of land in Colorado if the federal government moves ahead with plans to create a new 5 million acre conservation corridor in Colorado and New Mexico.  He has fought efforts by energy companies to put transmission lines across his land.  Maybe reporters covering the conservation angles should see how Bacon's environmental record stanched up in the Bahamas.  

Louis Bacon Attempts to Muzzle Bahamian Press

Louis Bacon

Louis Bacon is attempting to muzzle the Bahamian press through intimidation, utilizing his cheque book and lawyers. This is not a case of one or two law suits and threatening letters to journalists, it has been said that the Bacon legal team is targeting ten to twelve Bahamians to silence them and oddly, all of them were and are PLP supporters.

Recently The Tribune published a story “Billionaire's Claim Of Defamation” detailing how Bacon filed charges against an alleged contributor of a local blog, namely Bahamas Press.
Louis Bacon is also seeking an injunction against Earlin Williams for over four articles posted on BahamasPress.com, according to a Supreme Court writ dated July 11, 2012.

 Some of the words complained about, it's claimed in court documents, [in the article] meant and were understood to mean: that [Bacon] is running a sophisticated international smuggling and drug trafficking ring with the co-operation and/or consent of the previous FNM government of The Bahamas".  The article included "Today's smuggler and trafficker, Interpol Intelligence shows, is not the Hollywood image of Jack Sparrow or even Gordon Gecko or some internet wizard hacking into bank accounts and transferring millions at the whim of his fancy".  "The profile of today's modern day successful smuggler and trafficker is that of a highly successful investor with accolades for their business accumen and prowess coming from every internal quarter. These businessmen are the poster boys of various established institutions and fit very easily in the political mix of any country. Politicians want to be their friends".

In a different article concerning Bacon's legal team, it was stated: "Meet the three Louis Bacons on the right, the Louis Bacon who is suave, super intelligent, gritty, exact, austere money manager who has parlayed his Moore Capital Hedge Fund in to a billion dollar enterprise. On the left, the humorous, jocular, secretive, methodical Louis Bacon caught in a net web of Jack Sparros at Lyford and Kamalame Cays in The Bahama Islands. And in the middle, the Louis Bacon, who is cold, calculating, sinister and will use his wealth and power to crush anything or anyone that gets in his way very much the same way he attempted to drive his Lyford Cay neighbour, Peter Nygard, the Canadian fashion mogul from his home in the Bahamas"

It is important to note that a United States reporter for Business Insider wrote on Aug 9, 2012: "Staffers won't even tell you whether Bacon's in town. He's serious about confidentiality agreements and not above some intimidation. "If I talk, only bad things can happen," says James Capra of hedge fund Capra Asset Management in New York."

This is not the first time that Bacon’s local lawyers have sent threatening or intimidating letters to individual journalists and media houses in hopes of getting them to back off of Bacons trail and turn a blind eye to obvious news.

We understand that officials at JCN have also received such notices. Sources also indicate that several individual journalists have been approached by attorneys and threatened with defamation law suits. To make things worse, the former administration supported these actions by allowing these types of suits to be filed, leaving journalists to fend for themselves.


Some observers are of the opinion that Bacon is simply attempting to suppress the message by silencing the messenger. This will not happen with Ear to the Ground on the case; we intend on ensuring that both sides of the coin are presented in true journalistic form. That is the Freedom of the Press, the voice for the silent majority, and a main staple in a democratic society.

 One can only question the reasoning behind Bacon attacking journalists and obvious PLP supporters, when there are unanswered questions about a number of criminal acts. Some of them are presently being heard before Bahamian courts.