Investment Research Associates - Page 158




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              Petitioners assert that Ballard and Lisle did not have the               
         power to award the contract to Hyatt in part because their                    
         positions with Prudential did not give them such authority and in             
         part because there were others besides Prudential participating               
         in the project.  Although Ballard and Lisle may not have been in              
         a position to guarantee that the contract would be given to                   
         Hyatt, their opinions as Prudential executives would have                     
         influenced the other owners.  Certainly a negative opinion with               
         respect to a bidder would have foreclosed the possibility of the              
         bidder getting the contract.  Strum, CEO of the Prudential Realty             
         Group for Development and Retail Property Investments, testified              
         that Ballard had the "hierarchy power" either to influence the                
         selection of contractors or to prevent a project from going                   
         forward.  Initially, Lisle used his "prevention power" to keep                
         Hyatt even from being considered for the management contract.                 
         Ballard and Lisle may not have had the power to guarantee that                
         Hyatt would get the contract, but they did have the power to                  
         guarantee that it would not get the contract.                                 
              Kanter claims that he did not know about Hyatt's arrangement             
         with Weaver until Pritzker later asked him about some language in             
         the agreement.  The copies of the correspondence between Weaver               
         and Hyatt concerning the dispute over the computation of the fees             
         were copies that Kanter had in his records.  He claimed that                  








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