Baker, Ahles & Kaskovich

The case of Renegade Swish and the assistant house manager

John Goff, chairman and chief executive officer of Fort Worth-based Crescent Real Estate Holdings, acquired a 5.7 percent stake in Denver-based Resolute Energy Corp.
John Goff, chairman and chief executive officer of Fort Worth-based Crescent Real Estate Holdings, acquired a 5.7 percent stake in Denver-based Resolute Energy Corp. SPECIAL/D.J. PETERS

With a name like Renegade Swish LLC, you’re likely to attract some attention.

But if that company sues an assistant house manager for at least $200,000, the spotlight is sure to shine on you.

For those who don’t know, Renegade Swish is a company controlled by ex-Bass family financial wunderkind Geoffrey Raynor. Renegade Swish is part of an investment group commonly known as Q Investments.

And while public records list the address for Renegade Swish on Commerce Street, Dun & Bradstreet, the business research firm, lists its address as 10 Westover Road in Westover Hills, which brings us back (whew!) to Raynor and the assistant house manager.

Of course, you’d need a house manager and assistant house manager if you lived in a mansion with nearly 18,000 square feet and valued at $8.4 million, according to the Tarrant Appraisal District. That is a lot of house to look after, for sure. It even has an elevator.

According to a lawsuit filed in Tarrant County civil court last week, it seems Emily A. Wright, the now former assistant house manager, was not doing her job. It seems Wright, who was paid $60,000 a year, was known to abandon her post early when the family was out of town, the complaint alleges.

On one occasion she “decided to bail out” when Raynor was in Europe and the house manager was in California, leaving “dozens of house employees without a manager on site and leaving the house at risk should a crisis occur (such as a water or gas leak or computer shutdown),” the lawsuit said.

Not happy with this situation, Raynor fired Wright in April but allowed her to stay on the payroll until May while she searched for another job. Then Wright had the “audacity” to tell other employees that the company owed her additional money, including a bonus, the lawsuit states.

Thus the lawsuit, in which Raynor’s company is seeking at least $200,000 because of the recruiting and hiring and training of a new assistant manager. The lawsuit also reminds Wright that she would not use any confidential information such as personal, philanthropic, business and financial information related to the CEO and his family.

Raynor apparently worried that Wright may have already done so in pursuit of her “meritless claim.”

Raynor’s attorney, Brant Martin of Fort Worth, didn’t have any comment on the lawsuit. The Star-Telegram was unable to contact Wright. — Max B. Baker

Goff buys into energy firm

John Goff, chairman and chief executive officer of Fort Worth-based Crescent Real Estate Holdings, recently acquired a 5.7 percent stake in Denver-based Resolute Energy Corp., an oil and gas exploration company.

Recent Securities and Exchange Commission filings show that Goff acquired more than 4.9 million shares of the company stock, valued at $5.6 million, for himself and his family investments, including the Goff Foundation, which focuses on education.

The purchase of more than 5 percent of the company’s outstanding stock triggered the SEC filing. The shares were bought between April 24 and June 19, the filing said.

Resolute Energy was founded in 2004 and within its first two years acquired assets from Exxon Mobil and Chevron. Its assets are in the Permian Basin, as well as New Mexico, Utah and Wyoming.

Earlier this month, the company said it had regained compliance to be traded on the New York Stock Exchange. In February, the company was given until Aug. 3 to bring its stock above $1 a share.

Last month, Resolute reported a first-quarter loss of $208.4 million, citing depressed oil and gas prices.

Goff co-founded Crescent Real Estate Equities Co. with Fort Worth investor Richard Rainwater before taking it public in 1994. It was acquired by Morgan Stanley in 2007 before Goff, in a joint venture with Barclays Capital, bought it back in 2009.

Our Fortune 500 companies

Three Tarrant County companies appear on this year’s version of the Fortune 500 listing of the largest U.S. companies, including one that cracked the top 100.

Fort Worth-based American Airlines Group landed at No. 70 after the merger with US Airways significantly increased the airline’s size. Revenue increased by 59.5 percent to $42.6 billion in 2014, according to Fortune, moving the county’s top private employer up from No. 112 last year.

GameStop came in at No. 311 as diversification kept the Grapevine-based video game retailer in roughly the same spot as last year (305). Despite the industry’s movement towards downloadable online gaming, the company kept growing thanks to its acquisition and expansion of two other electronics chains: Spring Mobile, a licensed AT&T retailer, and Simply Mac. 2014 revenues totaled $9.3 billion.

And D.R. Horton moved up to 354 from 418 as the leading home builder bounced back with the nation’s housing market. Revenues increased by 28 percent in 2014 to $8.03 billion, thanks in part to rapid growth in its new lower-priced Express Homes brand.

Andrea Ahles, 817-390-7631

Twitter: @Sky_Talk

Sandra Baker, 817-390-7727

Twitter: @SandraBakerFWST

Steve Kaskovich, 817-390-7773

Twitter: @stevekasko

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