16 January 2018

Miixing-Up Real Estate Speculation + Politics > What Fun, Huh?

Say What?
Take a look at the new cover of Compass Magazine, a publication of The Times Media Group put out by The Mesa Chamber of Commerce that's registered as a non-profit organization with the Arizona Corporate Commission.
Perhaps the Office of The  Arizona State Attorney General - or an Arizona investigative reporter other than your MesaZona blogger - might want to look into what could be "stepping-over-the-line" here to publish A STAKEHOLDERS PROSPECTUS for a private development existing only-on-paper here in Mesa's historic district by a publicly-elected State Legislator doing some real estate speculation on-the-side of his official duties to serve the interests of the public in the conduct of his office.
Bob Worsley, seen in the image to the right, registered a limited liability corporation (LLC) with the ACC named MACDevLLC in June 2017 at his home address here in Mesa with a principal partner Ranches of America.
Is that a conflict of interest capitalizing on real estate holding while on the public payroll? The question needs to be asked.
The mag calls itself "Mesa, Arizona Resource Guide 2018" at the same time printed on the cover in bold red typeface that it is a Stakeholders Prospectus. . .  
WHAT IS A PROSPECTUS?
prospectus
Legally mandated document published by every firm offering its securities to public for purchase. It must comply with strict legal requirements and is filed for approval with the country's securities inspectorate such as the Securities & Exchange Commission (SEC) of the US, . . .
A prospectus must disclose essential information such as:
(1) firm's objectives
(3) background and qualification of principal officers
(5) projected financial statements
(6) assumptions underlying the projections,
(7) foreseeable risks to the firm,
(8) offering price on the stock (shares)
(9) (in case of bonds and notes) how the interest and principal will be paid.

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