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To
the editor:
Reporter George Watson and the Editor of the Sun inaccurately state that I
and my wife turned control of our business and all family assets over to
David and Dennis Hansberger, through the recording of Powers of Attorney in
1967. Nothing could be further from the truth.
This was done on the advice of our attorney. Its purpose was to permit
business to be conducted if both my wife and I became incapacitated in the
same accident. At that time we were doing some traveling overseas.
Fortunately, the need to use it has never occurred. Neither of our sons have
ever utilized the power of attorney, executed any documents or conducted any
business on our behalf.
In 1989, we created a Family Trust and a Durable Power of attorney that
replaced the 1967 documents. In the replacement power of attorney, my wife
and I gave each other (rather than our sons) a power of attorney to act in
the event of incapacity of the other. Because the 1967 power of attorney has
been forgotten about, a revocation was not recorded.
The Sun continued to infer that Dennis Hansberger gained additional control
and current benefit, as a result of the creation of our Family Trust. The
Sun is wrong! This is not a Rockefeller or Kennedy Trust that is
distributing dividends to heirs. This Trust is in effect a modern variation
of a will that dictates the distribution of our Estate upon our death. Just
like a will, which can be changed at any time, a trust does not give a
potential beneficiary any current interest in the assets of the trustors.
I am in complete control of the business and our assets. Dennis Hansberger
is not a participant, partner or consultant in our family business.
The Lake Arrowhead properties, which The Sun repeatedly and wrongfully
states create a conflict of interest, are owned by a partnership in which I
own a 50‚percent interest. No powers of attorney exist with respect to this
partnership.
The partnership acquired approximately 210 lots in a subdivision that was
created in the 1920s. Subsequently, 200 lots were sold for $100,000 ($500
per lot). Thirteen lots were retained because they could not be sold and two
lots were reacquired through foreclosure.
Currently, the partnership owns 15 lots that are each approximately 25 feet
by 100 feet. Many old-timers in the mountains refer to these lots as ``tent
lots'' because you couldn't do much more than pitch a tent on any single
lot. If these lots were combined, they would total approximately 1 acre of
land.
The 15 lots owned by the partnership of which I am a member is not located
within the redevelopment area, which I did not even know was being formed
until reading the Sun article. The implication in the Sun article that these
lots will become valuable because they are in the same area as the
redevelopment area is just not reality. There are 300 to 400 other ``tent
lots'' in the area. There is not a market for those lots today and it is
unlikely that there will be a market in the near future.
It is a fact that Dennis Hansberger has no control or ownership in the
property in question or in any other business or properties owned by me. The
Sun has concluded otherwise only by trying to give significance to a
37-year-old power of attorney (which has been replaced) and by misconstruing
a will substitute (living trust) as granting ownership interest in my assets
to my son Dennis Hansberger. I might expect a cub reporter to make that
mistake, but the editorial management of The Sun should have enough business
acumen to know better.
Your readers should know that the real truth behind your latest smear
campaign has nothing to do with conflicts of interest. Instead, it is just
the latest attempt by the leadership of The Sun to obtain its beloved
mountain building moratorium. Evidently The Sun's leadership feels that it
is all right to create trumped up conflict of interest accusations in order
to hinder the rebuilding effort in the mountains. If the San Bernardino Sun
leadership would spend as much time and resources trying to help the
mountain residents rebuild as it has on trying to hinder the rebuilding
effort, the results would be significantly more beneficial for the very
readers that you supposedly service.
LEROY HANSBERGER |
