Arkansas Blog

"We understand the Democrat-Gazette has sent one of its news feature writers to talk to the family, so it could be that the statewide newspaper's low-profile handling of the case may be due for a change."

When one is a Little Rock newspaper editor one is under great pressure from the "business side" not to ruffle Dillard feathers (a particularly easily ruffled commodity). Some editors go along; others don't.

Of course, some editors still have jobs.

Now we will see some movement on this in terms of fleshing out some answers, Mrs. Glasgow wants to make sure the legacy/honor of her husband is protected. So that now puts this in an adverserial, or at least oppostional dynamic with both CDI and Bill Clark Jr. and the Dillard corporate/family faction.

This is going to get interesting. Now you have bill Clark Jr/CDI having to protect ther honor/integrity and that pits them against Dillard given what has been raised in the Arkansas Business article.

Once Gasgow's wife relased the draft of that letter her husband wrote then all bets are off. That puts all sidesin the postion of having to enter the fray and state their case. Frankly, I can't believe Dillards Investor relations answered anything at this point. Not a good move in my opinion. They took the bait. Why???? Corporate communications strategy in this situation is to not answer the questions as posed but take it all in, then, if you must, release a statement that puts your current take on the situation in a wider context, that reframes the questions in ways that widen the context, gives you more control. This is going to be the Soap Opera of 2008 here IMO.

ARK. BLOG: I don't. I think we mostly know all that we are likely to know, absent Glsagow's emergence alive or otherwise. As I said when I first raised all this Dillard conflict weeks ago, this is about business. They are a powerful business entity with a half-share in a company buillt by a man no longer around. Powerful business players will work to maximize control and profit. It's not personal. It's not actionable.. It just is. You or I don't have to like the tactics or the people. But if John Glasgow did depart on account of anxiety over what he perceived as pressure from that quarter, well .... in terms of consequences or obligations on the part of Dillard's or CDI except for perhaps moral ones ... tough. Particularly since the sum of what everybody KNOWS about this puzzling case -- versus speculation -- is just about nothing.

Ark Blog:

However, i think maybe you overlook one very important dynamic at play here now, albeit a wildcard. Here you have on the table, baeedon the comments and draft of the letter of John Glasgow, that Dillards had at least suspicions that
CDI at some point had pulled something that Dillards was threatening to call them on. Now that throws this whole thing wide open.

You suddenly have Bill Clark Jr. /CDI maybe feelin like they have to scramble to protect the legacy of Mr. Clark Sr. Maybe. Why write the letter to Dillard though? Amateur mistake IMO. Should have been conversations. Personal, closed door, let's work this out, what have we got here, type fo thing. Glasgow and Clark should've known that was the way to play this hand IMO if the Dillards had any real substantive problems with any past CDI actions. But we don't know if Bill Clark Jr, ever delivered a letter based on Glasgow's draft. The thing is with the valuation all could've been made whole. It's taking one from column A and putting it in column B.

Then you have John Glasgow feeling threatened at some level, if only in reputation but possibly even more because of the Dillard suspicions. But you wonder, and this is the kicker, Dillards would've never made any of this public. There is no way. That;s why the letter doesn't make snense. You don't write the letter unless you absolutely have to.They would've wanted to keep this quiet, settle up on it on the valuation where the pie could have been sliced up to account for any behind closed doors grievances.

All speculation. But there are some squirrelly things at play here that do not make sense.

ARK. BLOG: I agree that there is much that doesn't make sense. I just think, absent new developments, the lever to force further disclosures is absent, even presuming there are further things to be known. The simplest explanation, regrettabily, remains suicide. And in such cases, rational thinking exits the picture.

Where was Kevin Wheeler on the day Glasgow was reported missing? Revenge motive?

One would figure that, if Kevin Wheeler wanted revenge, he would have sought it after getting out of the pokey the first time, not 10 years later after serving time for a second embezzlement at a company not related to CDI.

It doesn't appear that the penalty for embezzlement in this country, in relation to the magnitude of money taken, is enough to put anyone on the straight and narrow, afraid to ever try it again, that's for sure. Approx. $1.6 million embezzled, and how much time did he do? Maybe a year total? Talk about a hand slap!

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You are right Carrick.

Every young Store Manager with Dillard's was always counciled by the old man to take the Editor of the local newspaper to lunch once a month.

"When one is a Little Rock newspaper editor one is under great pressure from the "business side" not to ruffle Dillard feathers (a particularly easily ruffled commodity). Some editors go along; others don't." -- C. Patterson

And some on the "business side" were more straightforward in what they charged Mr. Bill Dillard for ads. Right?

Nope.

Mr. Bill Dillard wasn't forced to purchase such advertising if he had a problem with the pricing structure. It's a simple matter of supply and demand.

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On or around March 6th, newshounds. "Anonymous" letter or phone call, instantly spun six ways from Sunday by the powers that be, that breaks the Glasgow case wide open and unravels the whole deal. According to sources.

Or my name isn't Jessica Fletcher.

Oh, yeah. Am I happy I dumped my Dillard's stock six months ago? Yes, petunia. I am. Down, down, down.

Buh-bye, Dillard's.

I have never heard one nice thing about the Dillards. I heard the old man was a total jerk and his son is not as bad, but comes close. I knew a lady that worked in the first store at Park Plaza when it was Dillards Pfiffer/Blass. She was pretty close to Bill Sr. She traveled around the country in her elder years to store openings, helping out etc. She always said he not a very nice person.

I have watched the Dillards over the years. They are horrible corporate citizens.

Actually the first Dillard's store was in Nashville, Arkansas - hometown of both John and Melinda Glasgow.

NormaBates--based on what you allegedly know, do you still believe that Glasgow is alive?

Actually I had some dealings with one of the sons and his wife many years ago - Due to confidentiality concerns, I can't detail too much, but he and his wife actually did something nice for one of their babysitters when she was about to go off to college.

I can tell you, without a doubt, they were a pain in the a$$ to deal with from my end. And my "powers that be" treated them like they were the second coming of Christ. You were to immediately drop what you were doing, regardless of what it was or who you had in your office, to take their phone call if they called.

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Sadly, I agree with Max that the suicide theory is probably how this plays out. There's one thing that makes no sense to me. This guy was obviously smart and knowledgeable about finance. I think it's reasonable to assume that he was fairly well insured and would want his family to benefit from those monies. But there's been no body found. As I understand it (and I am not an expert), without a body it can take seven years or more to have someone declared dead. From everything I've read, this guy was certainly smart enough to know that.

ARK BLOG: You may be correct that "The simplest explanation, regrettabily, remains suicide."

But I must disagree with your statement, "And in such cases, rational thinking exits the picture."

Of course suicide CAN be an impulsive or irrational act. But not as a matter of course.

It is generally planned as a reaction to something SO HORRIBLE there seems no other way out. Facing a protracted painful debilitating terminal illness, for instance. Or exposure of one's secret sexual proclivities (homosexuality, in some societies; pedophilia; an illicit affair threatening disgrace and ruin). Revelation of criminal misconduct. Betrayal by or loss of a spouse or loved one.

To some staring at such situations, there are far worse things than death.

Even an underlying biochemical medical condition like clinical depression or bi-polar disorder that may trigger suicide still "makes sense" in such contexts.

Though we may not like to admit it, most suicides are in fact a rational response to overwhelming circumstances often (thought not always) brought about by one's own choices, actions and associations.

How does a person commit suicide and hide his/her body? Theory makes no sense. If Glasgow committed suicide he would have done it so that his body would be found. He would not subject family and friends to the anxiety and grief that comes with not knowing. What would be the point? Dead is dead. After four weeks, the suicide theory is poor one, no, it just plain makes no sense.

re: Carrick - I've been hearing all week that there is an outside retail reporter in town that is sniffing around and calling former Dillard's employees. If he can connect the dots to a few ex employees who might have been maligned by Freeman and they talk and point him in the right direction, watch out.

I don't believe he's still alive at this point, but I don't think it was suicide. :-(

And I sincerely hope I'm wrong. It won't be the first time.

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There are also "accidents" that are disguised suicides, QuestionMark.

Yes, Goof: Dillard's is the "right direction."

This is a sad situation for all concerned.

Has anyone considered the possibility that his wife could have helped him disappear. He may have told her he thought he was going to prison and had to get away. She could have helped him leave.

Mrs.Columbo? We need to have tea.

Another thing, the letter JG gave to Freeman about the bonus structure Mr. Clark made before his death -- how do we know it REALLY was authored by Mr. Clark? $300K to one person seems extremely high. Oh, I wouldn't forget about his close relationship with his brothers. They could be part of the puzzle.

Norma - green tea please.

ARK. BLOG: I was told it was a hand-written note.

And perhaps some "Bingo!?"

Mrs. Columbo - yes, I did think of that. My only issue with it is that, if Mrs. Glasgow assisted him and knows he is alive, she gave an academy award winning performance as the distraught wife at the Candlelight Vigil.

NormaBates - you are correct, and I actually hadn't thought about that.

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Question Mark - so did Susan Smith. No one believed she had anything to do with the disappearance of her 2 sons.

Mrs. C - I agree...she fooled a lot of people, including myself.

Did you think it was odd that the family called the police as quickly as they did? I originally read it was about 2:30 p.m. I know he was "responsible" and "dependable," but how did they know for sure that he hadn't just forgotten to tell them about an appointment? I would have probably waited until the end of the work day to call.

I do remember wondering at one point early on if they called the police that quickly because Mrs. Glasgow knew he was missing.

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? - The fact that MG only offered $5,000 as a reward for her missing husband when their house and cars were paid off and were basically debt free, $5,000 is chump change. She could have easily ponied up $100,000. He's not dead. If he is truly missing, he should be insulted his loving wife only thought his life was worth a few thousand dollars.

No one has ever said whose handwriting the account numbers in the kitchen were. It was on her to-do list pad. Maybe taking money out of the bank and safe WAS part of her "to do" list.

Back again....whoosh this new blog is packed with witless wonders... the police were called after employees at CDI reported that John Glasgow did not show up to work that day.

"Has anyone considered the possibility that his wife could have helped him disappear. He may have told her he thought he was going to prison and had to get away. She could have helped him leave."

Posted by: Mrs.Columbo

The hole in this theory is that all the financial practices were impeccable and no money has been reported missing, embezzled, or stashed. So, John Glasgow had no reason to fear prison. Obviously, you have never met Melinda Glasgow or you would not postulate such a crazy idea.

Mrs. - I don't know that the bonus is that high based on the volume of business that the company does. I do know that one of the Dillard's boys hates any form of a bonus be it to a CFO or a job superintendent. That's a part of this puzzle.

LadyDoc, I use to work at CDI.

Witness Protection, maybe?

I've seen CEOs and COOs get performance based bonuses on numerous occasions, but I have seen very few of those actually trickle down to the person in charge of the books. Too much of a conflict in interest. One of the first questions an auditor asks when auditing a company's internal control is whether any members of management have been pressured to achieve specific financial goals or given any kind of results-based compensation.

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"LadyDoc, I use to work at CDI."

So, what's your point, other than the one on top of your head in regards to your misguided theory regarding Melinda Glasgow?

You two women, Norma and Mrs., know so much about this case....
Why was the car left at Petit Jean in front of lodge? Who drove it there? ...come on...help this dummy out here....
Don't just drop this discussion...keep going...too interesting...

Yep, SheliaG, the car at the lodge with no signs of John Glasgow and no body kind of throws a snag into the suicide thing. The car at the lodge has been interesting to me regarding the whole thing because it's an odd place to dump someone's car...in plain site kind of. Why not some remote location somewhere? I feel he drove there and walked away to another vehicle. Perhaps he was driven to that airstrip on the mountain that has unlogged flights. Maybe he walked to it?

Odd that rangers said the car showed up between noon and 1:30 on Tuesday and that the lot was empty. Yet, the day the car actually showed up, Glasgows was one of many in that lot at 4:30.

Look at maps for that park. Limited access. Amazing. In this age. No cameras on this mountain showing the road up to the mountain on either end? The pic shows SUV there at whatever time it says..."front row, in front of lodge".... Ever been in that parking lot? Limited parking and FRONT ROW! Give me a break that no one notices that vehicle prior to photo. There are also Park Rangers. Bless me Lord, I so thought those people patroled those lots.... But, I guess I was wrong.

Why not move car to mountain so no one looks the OTHER way or closer to home? ...til later...

Good book material maybe, but mental nightmare on all this speculation if you are a family member/friend. Find John Glasgow.

Mrs. C - is your real name Kevin Wheeler? If not, maybe you worked for Wheeler? Why would the family put a big reward in the first few days of his disappearance when they were convinced he was on Petit Jean mountain? i would think that $50,000 would be sufficient to attract the attention of most Arkansans. Good night Mr. Wheeler, I mean, Mrs. C.

Mrs. C - is your real name Kevin Wheeler? If not, maybe you worked for Wheeler? Why would the family put a big reward in the first few days of his disappearance when they were convinced he was on Petit Jean mountain? i would think that $50,000 would be sufficient to attract the attention of most Arkansans. Good night Mr. Wheeler, I mean, Mrs. C.

"On or around March 6th, newshounds...." Posted by: NormaBates February 29, 2008 03:11 AM

Excuse me: What? Jessica, I don't follow ya.

Everyone just assumes he left for work around 5:15-5:30 Monday morning. Why did he sleep on the couch the night before. He could have easily left Sunday night or during the night. The neighbor cannot positively ID that it was him or his car that he saw driving down the street.

If you want everyone to focus on Petit Jean, you leave your vehicle there, or have it left there. That gives you more time to get away.

Also, don't forget Watergate. It wasn't the break-in that caused everyone to go to prison -- it was the cover-up.

These postings are ridiculous.

Mrs.Columbo - regarding the letter. My guess would be that they are talking business. Paragraph 3.

Dillard's was charged a cost plus X% for a remodel job as is the norm in the construction business. I think CDI was billing Dillards about 2% less than that figure. What they are trying to do is push that figure even lower with William Clark. And now they have a Dillard's accountant on staff to make sure they come in at that number.

Ouch!

LOL- Mrs. Columboob. The neighbor has already positively identified John Glasgow's vehicle as the one seen leaving at the that time. It's on the record. So, you're saying the neighbor is not telling the truth?!?--you must be a genius Mrs. Columboob--you should be working with the state police.
In fact, why don't you make the effort and get caught up on the facts before you make dumb posts on the blog!?!
Since there isn't any mention in the demozette today, it's is patently obvious where their loyalty lies. And I will venture, even if they take the time to print something, it will be a hack job buried on page 86 Z. I wouldn't put it by the (so-called) editors to allow a Dillards rep to proofread the piece before it's printed.

For a co. acctg dept, Jan is double work month. Were year-end (2007) tax documents finalized and mailed before John vanished? By tax documents, I mean: 1099, W-2, etc. The deadline is later now. It formerly was the end of Jan. I would asSume that year-end would be closed prior to being audited by outside CPA firm.

Goof - I think you are right about that. For someone to say "call off the dogs", that is a strong statement. I think the whole power structure of CDI is about to change with Dillards being more involved, especially since Dillards has their own CFO taking JG's place.

LadyDoc - perhaps you need to read the most recent info included in the Arkansas Business piece from last Thursday. Brian Rosenthal states in that piece that now he cannot, with 100% certainty, say that it was in fact John Glasgow he saw leaving early that morning. He basically says he thinks it was, but in retrospect, he cannot say without a doubt.

I realize Mrs.Columbo's opinions are not what you want to hear. At the same time, she's as entitled to them as you are to yours.

Sheila - you are correct that auditors don't usually start their audit work for a given year until the books are closed. In my experience, with a company that size, it would be very difficult to have closed the year by the time he vanished - but it could be done. Especially if the accounting work were stayed on top of throughout the year.

One of the major areas I can see as being a potential incomplete would involve accounts payable. It often takes several weeks for vendors to get all of their invoices/statements sent out, and recording the year end accounts payable to an accurate degree would require having some idea of what's out there. If a properly functioning voucher/purchase order system is in place, however, it is possible that Mr. Glasgow had a pretty good handle on what was going to come in and could have accrued it.

Having said that, I've seen very few CFOs who have enough time in any given week to achieve such an idyllic accounting environment--they are usually majorly overworked and their time is stretched pretty thin. But it can be done.

For some reason I got the idea that Glasgow was preparing for the imminent arrival of auditors.

ShelisaG - I agree. Probably why he was there at work all weekend. Odd that he didn't have anyone from his staff helping him.

Mrs. C - why is it odd that Glasgow would be working alone on the weekend? Most execs don't ask staff to come in on the weekend. You've noted in an earlier post you once worked at CDI, do you have a beef with Glasgow? I understand he did blow the whistle on two former employees for embezzling money. Maybe one of them was a friend or close work associate? Or maybe you don't have a beef, if not, what's your theory?

mouthinfreely, no beef at all with JG. My only point is that CFOs don't handle the minute day-in, day-out financial workings. If he was getting ready for auditors, why couldn't he have asked someone or several people to help him get paperwork in order. But again, I want to reiterate, no beef with him at all. I just haven't put a halo on him or anyone else. My theory is he was working on the cover-up for him -- or someone else. Who are the 2 former employees? One is Wheeler. Who is the other?

It's not unusual for higher level accountants (i.e., the CFO) to finish up the year end without asking members of the staff to assist, especially when it extends into the weekend hours. The kind of accounting entries to be made at year end are typically more difficult, specific entries that most accounting assistants won't know how to make. Especially in construction contractor accounting. % of completion method. Completed contract method. Not easy.

In addition, when it comes to your financial statements being audited, it's not something you typically want to entrust to just anyone. Many of us had rather make the entries ourselves - that way, we know exactly how the amounts were compiled. Plus, many times, working on the weekends is the only time we can get it quiet enough to be able to think. The phones are usually quiet, staff coming in and out with questions is typically zero...sometimes it's the only way to actually get things done.

So, I don't find it at all unusual that JG would work alone on the weekend. I've done it many, many times.

Mrs.Columbo,
Since you used to work at CDI, what is your opinion of John Glasgow? Come on, what do you know about the company? What was your position there?
And to the people who have suggested that Melinda or someone in his family helped him to disappear, apparently you weren't on the Mountain for 3 to 4 weeks with them as they searched for their brother, husband, uncle, and friend. Or you aren't one of the CDI employees/friends who were up there either. (some still go back and even after it was "officially" announced that the general conclusion is that he was never on the mountain, the family hired someone with special dogs that could smell his footsteps (if he got out of his car and got into another one) .
I am a friend of this family and I KNOW the pain and suffering they are going through. And it if weren't for them, the news of John Glasgow's disappearance would still be unannounced by CDI or Dillards.

...the auditors had been at CDI for 2 wks prior to the last Sat John worked, Jan 26 (Ark Times article). That would be about Jan 14? The bonuses were received by direct deposit about what date? Before or after Jan 14? ...and no problems were found in the audit. Were auditors still "on-site" when Glasgow disappeared?

But "grover", on which balance sheet does "Chewbaga" reside?

Dillard's or CDI.

I don't know who "Chewbaga" is. I'm not a real blogger, I just care about this family.

Fraud audit: Many yrs ago I worked in a family-controlled corp. Family got upset with non-family member who managed the corp. Called in fraud auditors because family thought books were cooked (too much profit that year). Auditors stayed and stayed. Found nothing (because there was nothing wrong). After the audit, there were No "I'm sorry..." No "I guess I was wrong."... the pressure just increased after that in different directions. You can imagine the intense pressure...no one trusts anyone else at that point. Just looking for the next shoe to drop. It ended about 6 mos later. Family sold corp. New owner notified non-family member that his "job" was over.

Family had buy-out provisions, non-family members did not. Interesting to me that in this case it is a 50/50 ownership. Not 51/49...etc. Controlling interest.

"grover", tell me why the CDI signage has been taken down from in front of CDI's headquarters? Any news?

There was this article in the NY Post
http://www.nypost.com/seven/03062008/business/without_a_trace_100654.htm

Interesting goings on with the proxy fight too.
I would like to know why the CDI signage was removed also.

ARK. BLOG: This article was posted on the blog this morning (Thursday, March 6)

"Dillard's issued a statement saying that "neither Dillard's nor CDI believe any money was misappropriated by John Glasgow or any other member of CDI's management," and denied that it was looking to replace Glasgow.

But Dillard's has said little else in public about the matter.

Glasgow's relatives say they haven't been contacted by anyone at Dillard's since his disappearance.

"Not one letter, not one note, not one phone call - nothing," Glasgow's wife Melinda said."
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I suppose this says it all...
LadyDoc