Fred Seigel

Democratic Fundraiser & 2004 Convention Committee Member

Local Green Hero

 

Energy Capital Partners

 

Court Orders HUD to Pay $8.8 Million

 

The Presidents Secret Money Machine?

Who is Fred Seigel?  Click Here to learn more about Fred and his accomplishments including his servitude on the Board for the Pine Street Inn.

When and Why does the delivery of affordable and more efficient energy  to low income housing become a political volleyball?  Answer is when the dirty politics rears its ugly head and we end up paying for the mistakes ( with our tax dollars) of our elected officials or the grandstanding politico types / hacks they surround themselves with.  Show some rage people;   this grass roots program was castrated by  a devious and uncaring Republican Money Machine.

Let’s get the whole story, the real story, and the true story out to the public as well.  For years the negative slamming done in response to Energy Capital Partners contract with HUD has been slanted with an extremely one sided version seemingly used as a political weapon against President Bill Clinton.  The Article “ The Presidents Secret Money Machine”  published by the online magazine The Daily Republican through Web Portal Inc stands as a search for the contract between Fred Seigel of Energy Capital Partners and HUD. 

Some background on The Daily Republican;  they are brought to us by Web Portal Inc a castaway in cyberspace so called web portal that has not had pertinent content updates in years and many facets of it appear to be presented by dead end URLs.  This disinformation is in need of balance and the effects of the cancellation of this contracts benefits hit home harder close to 10 years later.  Imagine the savings in energy expenses and the increase in quality of life for the low income, housing residents who would have benefited from this cancelled HUD program.  Fred Seigel’s Energy Capital Partners innovative and forward thinking green campaign and awareness of the importance of efficient energy delivery for all should be lauded.  Regardless, of what accusatory propaganda that was shoved down our throats which led to the cancellation of such a energy conscience concept it should be known that  the program should have been instituted as planned – PERIOD!

The Daily Republican is a hackneyed dated and irresponsible publication.  The follow up story of how Energy Capital Partners and Fred Seigel were victorious in it’s lawsuit against HUD.  The victory Energy Capital Partners and Fred Seigel was a rare indeed with very few lost profit suits vs HUD / the United States the Judge in this case found for Energy Capital Partners.

The following information is easily found yet buried under harmful and hurtful articles.  The result was disheartening as the program that Energy Capital Partners which gained them the  approval in awarding the contract from HUD is even more relevant today than it was when introduced ten years ago.  In this flagrantly obvious political volley ball the method of gaining the HUD contract was in question.  Regardless of the distorted facts which have for years been all that is found surrounding this innovative energy delivery idea which is referenced in the article below and  seemingly endorsed by the Judge involved in the HUD case in which Fred Seigel and Energy Capital Partners won was deemed a sound one for the country in terms of energy efficiency and its delivery to low income housing, thus achieving the goal we all seek  - affordable energy for all!  Please take the time to review this document from Facts on File, Inc.

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Facts on File - 2004

Court Orders HUD to Pay $8.8 Million

 Judge Edward Damich of the Court of Federal Claims in Washington, D.C. August 21 ordered the Department of Housing and Urban Development (HUD) to pay $8.8 million in damages for reneging on a contract with a lending company. HUD had accepted liability for backing out of the contract with the company, Energy Capital Partners of Boston, Massachusetts, but had said it would appeal the amount of the award, it was reported August 24.

The lawsuit stemmed from a contract issued by HUD in September 1996 to Energy Capital Partners to administer $200 million in loans to upgrade energy efficiency in low-income housing. HUD had reneged on the contract in February 1997, a week after the Wall Street Journal had printed an article revealing that Alan Leventhal and Fred Seigel, the principals in the company, had donated $3 million to President Clinton's 1996 reelection campaign. The article portrayed the contract as a sweetheart deal. HUD's action prompted Energy Capital Partners to sue for lost profits.

A 1998 HUD internal report had concluded that "tremendous pressure was brought to bear by political appointees on career employees" to approve the deal. However, Seigel had claimed that no evidence of political interference had been produced in court, it was reported August 25. Howard Glaser, who had been HUD deputy general council at the time, corroborated the report's findings, and also claimed that the contract had favored Energy Capital Partners by requiring HUD to absorb the bulk of the cost of defaulted loans.

In his opinion, Damich wrote that although there had been few successful lost profits cases against the U.S., the facts in the HUD case supported the award. In particular, he noted, "The market for the service available under the contract was easily identifiable and willing to pay for this service." He also cited a line in the contract that had granted Energy Capital Partners 30 days to solve any problems before termination. The contract had been cancelled after only one week's deliberation.

Copyright 2000 Facts on File, Inc.

 

To Review Energy Capital Partners HUD contract outline

click here!