ASONS Financial Statement Calls Into Question Mandatory Pay Cuts

Carol Beeson: Are Charity Drives Worth Layoffs At ASONS?

This entry is part 2 of 2 in the series Industry Godfathers

Around the time in which Milan Thompson began his dog and pony show for the media at the Muncie Regime Headquarters, the eradication of all whom would question his dictatorship was in full swing. ASONS CEO Steve Helser was the first up to the gallows. Next up was the ASONS Project Manager, Eric Laughner. Laughner was actually interviewed by The Star Press and painted a rarely viewed image of precisely what kind of internment camp Thompson and his wife Carol Beeson-Thompson were running. And from there it was a Purge for the history books. In fact, the picture Thompson attempts to paint of both he and his wife being the magnanimous caretakers of humanity in Muncie is probably about as far from the truth as one might possibly end up.

My wife has anonymously received many awards for her charitable work as she has always declined the limelight. Last week she drove a woman to and from a hospital in Indy to visit her dying husband as the woman had no other means of getting there. She is by far the largest contributor in First Choice for Women as well as being a motivational speaker. — Milan Thompson, ASONS CEO

Thompson appears to have an enormous need to self congratulate both he and his wife for their tax deductibleRacist charity causes. Most megalomaniacs are, to a tee, characterized by exaggerated feelings of self-importance, anexcessive need for admiration, and a lack of understanding of others’ feelings. Thompson’s ego, albeit derived from his elderly status in life, is truly nothing more glamorous than a painted picture of abysmal failure after failure. That which he could not gain on his own he stole. Simply ask Carolyn Beeson’s former husband and Thompson’s former friend. In 1999 Carolyn (Beeson) Thompson and her son Jeffrey formed a small construction company to buy and rehab homes for resale in Muncie, Indiana.  Carolyn chose to name the Company with her son in mind:  ASONS (A-SON’S CONSTRUCTION, INC.).  Quite obviously the name, in and of itself, conveyed both the pride and confidence she had in her son Jeffrey Beeson.  Prior to ASONS, Beeson ran a realty firm named Beeson Realty. Milan Thompson, a silent partner, was brought on board to both assist with funding and overall directional bearing.

While normally one might say that the story ends here, nothing could be further from the truth. The reality is that the Thompson Regime have received accolade and award at the cost of those whom empowered ASONS to get where they are today. The hard working Minorities whom were forced to take mandatory pay cuts while Thompson and his family continued to dump hundreds of thousands of dollars into questionable charity coffers. I state questionable as it doesn’t seem to make a lot of sense to donate when you cannot even keep your company afloat.

Milan Thompson, #BlackLivesMatter

Whenever a company lays upon its alleged compassion to donate monies to a charity, which might use 30 – 40 percent or more for overhead, and that company receives a 100 percent tax write off, it is a business move. In the case of the hundreds of thousands of dollars, this year alone, in which Thompson praises his wife for donating, the fact of the matter is dollar for dollar, Carol Beeson was capable of furthering her own agenda. Had those hundreds of thousands of dollars been invested in the hard working Minorities and Females in her company, her husband’s promise of improving the lot of Indiana taxpayers would have partially been fulfilled.

To say that Carol Beeson’s benevolence is based only upon her desire to make the world a better place is par for the course. In the same way in which Goldman Sachs profited, yes profited, from the fines they paid during the Great Recession, so to has ASONS ginned up a public facing campaign of philanthropy to bury the taxes which would normally be paid to both the US Government and the State of Indiana.

Had Milan Thompson agreed to allow his wife’s charity spending spree to be invested into the Minority and Female employees at ASONS, the firings and layoffs might have been prevented. I say might as Milan’s inability to learn from his horrific track record as husband, father and businessman seemingly preclude even an iota of self reflection. The Thompson Regime, regardless, have sadly made it clear that Carol’s ability to raid the coffers of ASONS, for her goodwill spending sprees, will always be shouldered by, ironically, the most vulnerable Minorities and Females at ASONS itself.

The Thompson Regime’s fake façade of being family owned and hometown proud is bravado without even the hot air. When the Thompson Regime is juxtaposed with others such as Safeguard Properties (SGP), at least Robert Klein keeps it real — you know, up front, you are going to get screwed. In fact, here is Thompson bragging on how he has forced Minorities and Females in his ASONS office to take the financial brunt of his incompetent and inept business practices,

We have $1,271,302 in our bank account and have a LOC available of $1,110,460.  That means we have almost $2.4M of cash available and spend about $500,000 a week every other week. Office pay is every other week and we spend about $200,000 in office salaries. If next week our deposits are the same then we would have lost $65,000 for the week.  If our deposits are higher we may make a little money, who knows? So as we get our sales up and having already taken the bite out of high office labor prices as a company we are fine. Heck, I could lose $50,000 every other week for the next year and still have money in the bank. — Milan Thompson, ASONS CEO

Thompson went a step further, though, and broke down the precise numbers which prove, beyond any reasonable doubt, that had the Thompson Regime not continued to pump hundreds of thousands of dollars into a pipeline toasons-financials seemingly obtain the accolades for his wife’s charitable credit, he could have easily have allowed Minorities and Females employed by ASONS to earn a fair wage. And I want to make sure we are clear on a few things here. I have a hunch, dollars to donuts, that there is no way in hell ASONS is compliant with the Service Contract Act (SCA), Davis – Bacon or half a dozen other flow down provision requirements. And when taking into consideration the maintaining of both Carrington Home Solutions (CHS) and other portfolios. We will begin to release, over the next several articles in our Series, the true length and breadth of the Vampire Squid which ASONS has become. In fact, for Craig Karnes, Director of the HUD M&M Contract, to even consider ASONS as a viable bidder upon the HUD M&M FSM 3.10, Karnes  would have to turn a blind eye to HUD 5.1.12.5 itself! I mean let’s not bullshit around, what is the likelihood that Thompson is paying SCA Wages along with the mandatory pro rata necessary to compensate for the medical, PTO and FMLA? If you ask me? Zero.

For those of you curious what the HUD Pass Through expenses deal with, they are provisions for the work that Milan Thompson is doing for BLM Companies. Yes, the very same BLM Companies which HUD Atlanta curses each and every day of the week. You see, Thompson, in the same way that he helped spin up CWIS early on, ensured that his dirty, money grubbing hands were in all the cookie jars contaminated by fraud, waste and abuse. And for those whom believe that this might have been a good thing, well why not ask the Thompson Regime precisely why they were unable to perform services in the State of New York for weeks on end and yet BLM Companies billed for them anyway? A simple perusal of the HUD P260 system will open quite a few eyes with respect to both complicity and outright fraud. Whom is responsible is a matter up for debate.

And since we are on HUD and how the Thompson Regime has continued to allow for Minorities, Indiana Taxpayers and Labor to finance he and his wife’s failed Rust Belt vision, how about the danger which Thompson has placed both Labor and unsuspecting US Citizens in by ordering the electrical backfeeding of HUD assets for years now? In light of HUD itself historically acknowledging both its illegality as applied by Thompson and each and every other HUD FSM Prime Vendor in history, where is the ASONS Memo ordering its halt? Nowhere.

Never before, in the history of the Mortgage Field Services Industry, has a firm ever made such a money grab not just from the very tax paying citizens wherein a National Association of Mortgage Field Services (NAMFS) Offender Cheers-300x300Member is based out of, but from the very Rank and File whom have given they the ability to exist. The Thompson Regime has squeezed every last drop of blood out of their employees and while consuming their flesh have used the bones of their children as toothpicks to pick their rotted teeth clean. And while the Thompson Regime is scurrying around in an attempt to find yet more tax breaks to keep the $30 Million land grab alive and well in the Rust Belt, Foreclosurepedia reaches out to financial advisors to get a better feel for precisely how much money he will actually make. Folks, this is the London Whale of the Industry. Stick around with Foreclosurepedia as, next week, we discuss precisely why Thompson was the Membership Chairman for the NAMFS Regime; Thompson’s ill fated run upon the Blackstone – Invitation Homes portfolio; his fluffing of valuation when he attempted to sell ASONS only several years ago, and so much more!

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