Tuesday, October 6, 2009

Fortress Campaign Resumes & Initial Protest Against Progress Funding

Demo #1: Prince Rahman – Progress Funding

Based on information obtained from the SEC filings of LSR (Huntingdon Life Sciences), WAR determined that a company named Progress Funding was responsible for the $40 million loan that bailed out the failing Huntingdon Life Sciences. Research revealed only one Progress Funding, a company based out of the Bronx, which acted as the middle man in mortgages and loans.

Late afternoon a group of activists visited the retail storefront of Progress Realty/Progress Funding. The moment the banner was unfurled, Prince Rahman, came out of his office and engaged activists in conversation about the purpose of the demonstration. He claims to have no knowledge of HLS or LSR and he says that if he had $40 million, he would not loan it to HLS nor would he be doing business from the Bronx (his words, not ours).

Prince Rahman and some of his employees who came out to chat with protesters were very convincing about not having ties to HLS. He even went so far as to call LSR in an attempt to get Andrew Baker on the phone to demand an explanation. Rahman is now considering a lawsuit against LSR/HLS for using the name of his company, Progress Funding, in their SEC filings.

Fortress Investment Group Targeted Again

On October 1, 2009, Fortress Investment Group delivered to activists an unsigned memo on Fortress letterhead with the following message:

“New York, NY. October 1, 2009 - Fortress Investment Group announced today that its affiliate has reached an immediate agreement to fully divest itself from an investment with Huntingdon Life Sciences/Life Sciences Research. The investment was a minority non-controlling interest in a loan and a future financing commitment, which will not be executed by Fortress Investment Group"

Shortly thereafter, Win Animal Rights e-mailed Fortress asking for clarification and authentication of the letter, with no response from Fortress. Consequently, on October 6th WAR re-instated the previously suspended campaign against Fortress Investment.

Demo #2: Wesley Edens - Co-Chairman & Principal – Fortress Investment Group

The first Fortress protest was at the home of Wesley Edens, who founded Fortress Investment Group and sits as Co-Chairman af their Board of Directors. Interestingly, Edens lives a very short distance from notorious Andrew Baker, CEO of Huntingdon Life Sciences. It was clear from the very start of the protest that this would not be a normal WAR protest.

The area was quickly saturated with NYPD squad cars and officers of the 24th Precinct. Despite the fact that activists have protested at Baker’s, only a block north of Eden’s building, for years now without harassment and intimidation, all of a sudden the precinct has decided that protests that make noise constitute “disturbing the peace”. From the very start of the protest, activists were threatened with arrest and told that the only way they would be allowed to continue was either to remain silent or to cross busy Central Park West. Neither alternative was acceptable.

What ensued was tantamount to a Keystone Cops routine. Residents of the building came down to argue. Some were for the activists and some were against. Police created more noise and more disturbance than the protesters ever could have on their own. They blocked both pedestrian and vehicular traffic and never really succeeded in shutting down the protest. Chanting was loud and lively and when one activist was shut down by police, another one took up the chanting.

During the turmoil, a Fortress representative approached activists to ask why the campaign had been reinstated and what could Fortress do to stop the campaign. After discussion, it was decided that if a Fortress Director or Principal signed the statement, the campaign would once again be suspended until evidence could be obtained that Fortress had actually cut their ties to HLS. All the while, a Fortress representative, using expensive cameras with a long zoom lens took close-up shots of activists.

Demo # 3: Peter Briger, Jr. - Co-Chairman & Principal – Fortress Investment Group

Next stop was the nearby apartment of Peter Briger, Jr. also Co-Chairman and Principal of Fortress. The protest started as activists watched the Fortress representatives who had followed them to Briger’s building, made phone calls and continued to take pictures.

Less than halfway through the protests, with the sounds of loud voices raised in chant, the Fortress representative once again approached the protesters. This time he delivered the same memo as last time, except this time it was signed by Peter Briger, Jr. Satisfied for the time being, activists accepted the signed statement and suspended the rest of the demonstration.

Although WAR would love to think that this letter represents the real facts, the Fortress Rep was told that we would be looking for evidence in the marketplace, that Fortress had really cut their ties. If this proof is not forthcoming in the very near future, WAR will not hesitate to pick up right where they left off.