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Koenig analysis of Insurance Syndicate Super-Names
February 21 2018 1728 GMT

Super-Names
at
Insurance Syndicate USAA



Past and Present


Précis as to “Governance” and Salaries at USAA:

The thrust of this essay is that the unincorporated insurance syndicate directors [Exhibit “A”] are used by the syndicate manager class [Stewart Blaine Parker, Lester Lawrence Lyles, and Laura Ann Mahan Bishop] the way duck hunters use geese decoys.: to calm the members.  Just the very presence of directors who receive modest honorariums and expenses for their involvement is meant to reassure the members that everything is ok.

But aside from obligatory Potemkin tours, the USAA Directors do jack all except to collect embarrassingly huge salaries.

Addressing the question of USAA director compensation, then Attorney General and now TX Governor Greg Abbott specifically stated [Exhibit “_”] that the salaries of USAA Directors (and the syndicate manager class) were highly intimate [sic] and thus an embarrassment:

and that therefore, in 2006 when the TX AG Greg Abbott’s opinion was delivered in 2006 -

these USAA people:

did not have to tell the USAA members how much Robert G Davis was paying them.

The above pages from the USAA Report to Members 2006 (rolled out to appear in every respect as if it the “annual report” of an SEC-registered publicly traded corporation) also contain some very probative information which TX AG Greg Abbott made certain the USAA members around the country knew absolutely nothing about.


The double-ended arrow connect Robert G Davis and Dawn M Johnson:  who were master and mistress.  Dawn Johnson was Robert G Davis’ $600,000 mistress.


arguendo:

Since 1988 (30 years) , there have been approximately 38 “directors” at USAA  [Exhibit “A”] .  In general, USAA has had 15 directors serving at one time:  15 directors x 30 years =  450 director years.   450 director years/38 directors   12 years of service per director.  Since the directors:

we can see that a “directorship” at USAA is less of an independent honorarium and more of a $400,000+ /year second career.

1989 was the last year the USAA directors supplied independant financials for the USAA subsidiaries to the syndicate names.  Since 1990, the financials for the corporate subsidiaries have been consolidated with the severally liable deposits of the insurance exchange.  At best, I do not believe that such a consolidation can be meaningful.  At worst, such a consolidation is a criminal deception.

Consolidation of the financials for the USAA subsidiaries into the financial results of a “downstream holding company” is far worse than Kabuki Accounting.  It’s actually Moebius Accounting:

 

These putative directors have never disclosed their salaries:  and in fact when in 2004 the Texas Department of Insurance supplied me with the directors salaries, cocksucks Robles and Davis went straight to the Bexar County District Court and obtained an order compelling me to return the directors information (which I did not).

Davis and Robles can go suck their own dicks (and each other’s) on that one:  that is of course when Robert G Davis doesn’t have his nose buried in his $600,000 year EVP mistress Dawn Johnson’s pussy  at 5000 feet in the member’s G2.

So what we have here is a cabal of syndicate super-names (subscribers who work for the exchange) who take on long 2nd careers at fabulous salaries.  And what do these USAA directors do to earn their keep?


Discussing what these directors do necessarily begins with a discussion of what they are supposed to be doing.

And that necessarily invites a discussion of what USAA actually is.

USAA [1] is a not-incorporatable insurance syndicate, a severalty [2], a nul personality, and a per processum which proceeds solely on the highly limited delegated powers of the syndicate names to their syndicate manager who operates each syndicate name’s mini-insurance company on the syndicate name’s behalf.

Whew!  Now what was all that about?

Simply put, USAA is an unincorporated insurance exchange which pays each day’s claims with the deposits of the subscribers who are there at the beginning of that day.

This is what Mr Justice Louis Brandeis had to say in 1920 [3] about insurance companies like USAA:

It is of the essence of mutual insurance that the excess in the premium over the actual cost as later ascertained shall be returned to the policy holder.

The directors at USAA have always understood exactly what Supreme Court Justice Louis Brandeis meant.

Here is USAA’s ad in the West Point Yearbook:

So what happened?


Starting in 1989, the USAA Directors set out on a criminally motivated path to tortiously interfere with the process of delivering at-cost insurance.

And the USAA directors as a class began to steal from the deposit accounts of the syndicate names (which they call subscribing members).  And to throw a camouflage smoke-ring around the theft - they sometimes tell the syndicate names who are the ones who take all the risk they they are “owners”.

Josue Robles Jr (who was a putative member of the putative Board of Directors starting in 1990) served as USAA’s Chief Financial Officer from 1994 until 2014 when he was fired.

I maintain that Josue Robles Jr was either the de facto or official CFO for USAA from about 1990 until his firing in 2014.

That’s 24 years without a clean broom.

We will discuss Roble’s relationship with Kristi Matus and Alice Gannon down the road.



Exhibit “A”:  History of the Purported “Independent” Directors at USAA

Name  [4]

(alphabetically by last name)

Year of Departure  [5] and Estimated total compensation:

Photo

Address

# 01:
John P Abizaid

Elected 2007

Est. total compensation: $2,000,000

John P Abizaid
JPA Partners, LLC

1919 Currant Court

Gardnerville NV 89410

+1.775.782.3012

info@jpapartners.com

http://www.jpapartners.com

# 02:
Joseph B Anderson

Elected 1999 [6]

Est. total compensation:
$200,000

Left Board [   ]

Left very quickly:  and there must be a story there.

TAG Holdings LLC

30260 Oak Creek Dr.

Wixom MI 48393

# 03:
Patricia C Barron

Elected 2000  [7]

Est. total compensation:
$5,000,000

Patricia C. Barron

Thomas Clark Barron

159 E 78th Street

New York NY 10075-0405

Thomas C Barron

60 Appletree Road    

Esopus NY 12429

+1.845.384.6703

# 04:
Herman E Bulls

Elected 2010

Est. total compensation:
$3,000,000

Herman E Bulls
Vice Chairman, Americas
Jones Lang LaSalle

International Director & Chairman, Public Institutions

Jones Lang Lasalle

1801 K St. NW, STE 1000

Washington DC 20006

# 05:
John D Buckelew

Elected 1994 [8]

Est. total compensation:
$______________

Left Board:  

John D Buckelew

3700 Baron Cooper Pass

Raleigh NC 27612

+1.919.787.6919

# 06:
Thomas P Carney

Elected 1997 [9]

Est. total compensation:
$______________

Left Board:

Thomas P Carney

9806 Kirktree Court

Fairfax VA 22032

+1.703.591.8282

# 07:
Daniel W Christman

Elected 1995  [10]

Est. total compensation:
$______________

Left Board:

Daniel W Christman

601 N Fairfax Street Apt 415

Alexandria VA 22314

# 08:
Eileen M Collins

Elected 2007

Est. total compensation:
$2,500,000

Eileen Marie Collins

2024 Pebble Beach Drive

League City TX 77573

+1.281.334.2107

# 09:
Daniel L Cooper

Elected 1988
Est. total compensation:
$______________

Left Board:   [         ]

Daniel L Cooper

Willow Valley Retirement Community

600 Willow Valley Square

Lancaster PA 17602

#10:
Stephen B Croker

Elected 1996  [11]

Est. total compensation:
$______________

Left Board:  [ 2011 ]

Stephen B Croker

Senior Vice President

Nyack Management Company, Inc.

774 Mays Blvd., Suite 10, PMB #324

Incline Village NV 89451-9613

lou@nyackco.com

+1.914.643.9637

fax: +1.775.833.9797

home:

Stephen & Virginia Croker

2 Byford Court

Chestertown MD 21620

+1.410.778.1199

#11:
Clyde D Dean

Noted as serving on the 1989 USAA Annual Progress Report

Died Dec 23, 2001

#12:
Leslie G Denand

Elected 1996  [12]

Est. total compensation:
$______________

Left Board: [        ]

#13:
Thomas Boulton Fargo

Elected 2006

Est. total compensation:
$3,000,000

Thomas Boulton Fargo

TREX Enterprises Corporation

733 Bishop St, Ste 1717,

Honolulu, HI 96813

+1.808.521.4908

fax:  +1.808.521.4906

☒☒

#14:
Tracy L Garrett

Elected 2010

Est. total compensation:
$1,250,000

#15:
Fred A Gorden

Elected 1990

#16:
Frederick M Hamilton

Elected 1998 [13]

Est. total compensation:
$______________

Frederick M Hamilton

625 Whitetail Drive

Lewisberry PA 17339-9403

+1.717.932.4777

fax: +1.717.932.4775

#17:
Marcelite J Harris

Elected 1993  [14]

Est. total compensation:
$______________

Left Board: [        ]

Marcelite J Harris

1377 Otter Lane

Merrit Island FL 32953

+1.321.454.3845

#18:
Jesse J Hernandez

Noted by name in “USAA 1988/89 Annual Progress Reports”.

Left USAA Board in 1989 after two years of service  [15]

Jesse J Hernandez

Portfolio Manager

Toth Financial

608 South King Street

Suite 300

Leesburg VA 20175

+1.703.443.8684

fax: +1.703.669.4577

jesse@tothfinancial.com

#19:

Robert T Herres [RIP]

Estate of Robert T Herres
℅ next friend
Reid E Meyers Esq

11118 Wurzbach Road

San Antonio TX 78230-2595

#20:
Homer J Holland

Elected 1985

Est. total compensation:
$2,000,000
Left in 1994  
[16]

http://www.secinfo.com/dRqWm.883z.htm 

Homer J Holland

7715 E Old Paint Trail  

Scottsdale AZ 85262

+1.480.488.3532

Homer J Holland
Board Member and Chairman of the Loan Committee
Bridgeforth Capital LLC
Newport Beach CA

Homer J Holland’s photo appeared only once at USAA: in the “1994 Annual Progress Report.  This may be another photo:

#21:
Randolph W House

Elected 1994

Est. total compensation:
$______________

Left Board [before 2000]

Randolph W House

905 Carmel Pl

College Station TX 77845

+1.979.485.8637

#22:
William J Hybl

Elected 1994 [17]

Est. total compensation:
$______________

Left Board after 2008]

William J Hybl

10 Lake Circle

Colorado Springs CO 80906-4201

+1.719.579.9646

#23:
Hansford T Johnson
(USAA employee)

Appeared in  1994 [18] 

Est. total compensation:
$______________

Left Board [before 2000]

#24:
Jay L Johnson

Elected 2000  [19]

Est. total compensation:
$4,000,000

Reelected

#25:
Rear Admiral Mary E. Landry
(United States Coast Guard Retired)

#26:
Carl Clinton Liebert III

Elected 2011

Est. total compensation:
$500,000

Left Board ca 2012 to join Executive Staff

#27:
Lester L Lyles

Elected 2004

Est. total compensation:
$10,000,000

Lester Lawrence Lyles
1703 Burlwood Court  

Vienna VA 22182

+1.703.242.3903

#28:

Robert Frances McDermott [RIP]

Estate of Robert F McDermott
℅ R F McDermott Jr Esq
Jones Day

51 Louisiana Avenue NW

Washington DC 20001-2113

+1.202.879.3875 (o-direct)

#29:
Tracy B McKibben

Tracy B McKibben

100 Riverside Blvd #3D

New York NY 10069
+1.347.467.1162

#30:
Richard D Milligan

Elected 1988

Est. total compensation:
$2,000,000

Left Board 1994

#31:
John H Moellering

Elected __________

Est. total compensation:
$6,000,000

Left Board ca 2012


As Lord Shiva

John H Moellering

50130 Manly

Chapel Hill NC 27517

+1.919.933.0979 (office)

+1.919.933.9374 (home)

#32:
Gerald R Murray
Chief Master Sergeant of the Air Force (ret)

Gerald R Murray

Director

Enterprise Sustainment

Lockheed Martin Aeronautics

Hill Air Force Base

  • Elder, LDS

#33:
Stuart Blain Parker

Stuart Blain Parker

16 De Zavala Pl

Shavano Park TX 78231-1446

+1.210.492.1652

+1.803.767.8739 (cell)

#34:
Denton Louis Peoples
(deceased)

Elected 1996  [20]

Est. total compensation:
$______________

Left Board [        ]

#35:
William R. Reed Jr.

William R Reed

700 June Dr  

Somerville TN 38068

William R Reed

144 Greendale Dr

Jackson TN 38305

#36:
Josue Robles Jr

Elected 1990

Est. total compensation:
$600,000

Left Board 1993 and did not appear as a director in the 1994 USAA Annual Progress Report.

Josue Robles Jr

34 Royal Gardens Drive

San Antonio TX 78248

+1.210.479.1716 (home)

alternative:

15822 Mission Rdg.

San Antonio, TX 78232

+1.210.545.1406

#37:
Michael E Ryan

Elected 2002

Est. total compensation:
$3,000,000
Left Board 2014

Michael E Ryan

Chairman of the Board

CAE USA

4908 Tampa West Blvd.

Tampa FL 33634

+1.813.885.7481

fax: +1.813.901.6429

milsim@cae.com

#38:
Joseph C Strasser

Elected 1998  [21]

Est. total compensation:
$3,000,000

Left Board ca 2012

Joseph Strasser

62 Sea Meadow Drive

Portsmouth RI 02871

#39:
Charles F Stebbins

Elected 1986

Est. total compensation:
$______________

Left Board [       ]

#40:
Robert van Antwerp

Elected __________

Est. total compensation:
$______________

Left Board [       ]

Robert van Antwerp

Chief of Infrastructure and Executive Development

The Flippen Group

1199 Haywood Drive

College Station TX 77845

+1.979.693.7660

fax: +1.979.693.4737

www.theflippengroup.com

#41:
Sam W Westbrook III

Elected 1986

Est. total compensation:
$______________

Left Board [        ]

#42:
Kent H Williams

Elected 1988

Est. total compensation:
$______________

Left Board [        ]

#43:
Myrna H Williamson

Elected 1988

Est. total compensation:
$______________

Left Board [        ]

#44:
John F Young

Elected __________

Est. total compensation:
$______________

Left Board [        ]

John F Young

Energy Future Holdings

Energy Plaza

1601 Bryan Street

Dallas TX 75201 USA

+1.214.812.4600

John F Young

3712 Marquette Street

Dallas TX 75225-5127

+1.214.987.4747

#45:
James M Zortman

Elected __________

Est. total compensation:
$______________

Left Board [        ]

James M Zortman

Northrup Grumman

2980 Fairview Park Drive

Falls Church VA

+1.703.280.2900

James M Zortman

8005 Stewarts Wharf Road

Exmore VA 23350-3821

+1.757.442.4036

Over the years 1988 through 2016, I have been able to identity five directors who became executive officers

Executive Directors (1988 - 2016):

Josue Robles Jr

Carl Liebert

John H Moellering

Lester Lyles

Robert F McDermott


Exhibit “A - 2012”:

Exhibit “A - 2012”: [missing] [I will get this - 23 apr 15]


Exhibit “A - 2014”:

Here we can see why the various DIs [??]  are so fuzzy.


Exhibit “B” May 1 1995: USAA Executive Council

Exhibit “B” May 1 1996:  USAA Executive Council

Exhibit “B” May 1 1997:  USAA Executive Council


Exhibit “B” May 1 1998:  USAA Executive Council

Exhibit “B” May 1 1999:  USAA Executive Council

Exhibit “B” May 1 2000:  USAA Executive Council

Exhibit “B” May 1 2001:  USAA Executive Council

Exhibit “B” May 1 2002:  USAA Executive Council

Exhibit “B” May 1 2003:  USAA Executive Council

Exhibit “B” May 1 2004:  USAA Executive Council

Exhibit “B” May 1 2005:  USAA Executive Council

Exhibit “B” May 1 2006:  USAA Executive Council

Exhibit “B” May 1 2007:  USAA Executive Council

Exhibit “B” May 1 2008:  USAA Executive Council

Exhibit “B” May 1 2009:  USAA Executive Council

Exhibit “B” May 1 2010:  USAA Executive Council

Exhibit “B” May 1 2011:  USAA Executive Council

Exhibit “B” May 1 2012:  USAA Executive Council

Exhibit “B” May 1 2013:  USAA Executive Council


Exhibit “B” 2014:  USAA Executive Council

 

Exhibit “B” May 1 2015:  USAA Executive Council


Exhibit “[chart of USAA Executive Council 1995 - 2016]”:


Arrived in 1995 or was already present in before 1995:

Robert T Herres

1995:  CEO

1996:  CEO

H T Johnson

1995:  President USAA Capital Corp

1996:  President USAA Capital Corp

Wilson C Cooney

1995:  President P&C Insurance Group
1996:  President P&C Insurance Group

Edwin L Rosane

1995:  President USAA Life Insurance

1996:  President USAA Life Insurance

Michael J C Roth

1995:  President  USAA Investment Mgmt

1996:  President  USAA Investment Mgmt

Jack M Antonini  [22] 

March 1985 - September 1995:
President  USAA Federal Savings Bank
1996:  Gone

Edward B Kelley

1995:  President  USAA Real Estate

1996:  President  USAA Real Estate

Bobby W Presley

1995:  President USAA Buying Services
1996:  Gone

M Staser Holcomb [23]

1995:  EVP IS

1996: President USAA Capital Corporation

Herbert L Emanuel

1995:  EVP CAO

Josue Robles

1995:  SVP  SVP, CFO/Controller

1996:  SVP  SVP, CFO/Treasurer

William McCrae

1995:  SVP  GC

John R Cook

1995:  SVP Corporate Communications
1996:  SVP Corporate Communications

William T Flynn

1995:  SVP Corporate Planning
1996:  SVP Corporate Planning


Arrived  in 1996

Mark H Wright

1996:  President  USAA Federal Savings Bank

Janice E Marshall

1996:  President USAA Buying Services

Donald R Walker

1996:  SVP CIO

Benjamin T Hacker

1996: EVP CAO

Bradford W Rich

1996:  SVP GC & Secretary


Exhibit “_”:  May 19 2006 TX AG opinion as to the embarrassingly large USAA Director Salaries

References:

Being non-assessable is quite different from not being assessed
https://texasattorneygeneral.gov/opinions/opinions/45hill/op/1978/htm/jh1300.htm 

In other words, there is no third party guaranteeing that your insurance contract will run to term:  being non-assessable doesn’t mean that you won’t be assessed



Publishing stopped 27 nov 17 2343 GMT

Publishing re-started 16 dec 17 0111 GMT

Revised from landscape to portrait on 21 feb 28 1744 GMT

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[1] United Services Automobile Association; NAIC # 25941; FEIN  74-0959140; TDI Company Number 14-86800; Current TDI Certificate of Authority  [CofA]  # 14585 granted on April 2 2008.

[2] http://www.severalty.org 

[3] Penn Mutual Life Insurance Co. v. Lederer, 252 U.S. 523 (1920)

[4] USAA was listing directors’ names on the inside back page of the “1988 USAA Annual Progress Report”; which is the earliest I have.  Photographs and biographies first appeared in the “1994 USAA Annual Progress Report”.

[5] USAA “directors” leave without fanfare:  so the year of departure must be fixed by a reading of the “Annual Report” which no longer “contains” them.

[6] Report to Members 2000, p. 34.

[7] Report to Members 2000, p. 34.  nb:  Her “election” required the 1999 amendment to the Bylaws.

[8] Report to Members 2000, p. 34

[9] Report to Members 2000, p. 34

[10] Report to Members 2000, p. 34

[11] Report to Members 2000, p. 34.

[12] Report to Members 2000, p. 34

[13] Report to Members 2000, p. 34

[14] Report to Members 2000, p. 34.

[15] Toth Financial Biography notes two years of service on the USAA Board.

[16] Homer J Holland does not appear in the 1995 Annual Progress Report

[17] Report to Members 2000, p. 34.

[18] Hansford T Johnson is shown on the 1994 Annual Report - but without an election date.  He was also a USAA employee.

[19] Report to Members 2000, p. 34.

[20] Report to Members 2000, p. 34.

[21] Report to Members 2000, p. 34.

[22] https://www.linkedin.com/in/jackantonini 

[23] https://en.wikipedia.org/wiki/M._Staser_Holcomb