1995 (Fall) JG as comptroller discovered CFO embezzled $1.3 Million, $ was taken from Dillard's accts
Divisions restructured, legal covenants altered, Dillard's control over CDI tightened.
1996 (Spring) Unrecorded meeting between Bill Clark, Bill Dillard, Bill Dillard bro Alex Dillard, John Glasgow and Dillard's CFO James Freeman
per comptroller who replaced JG, agreement concerned profits that each division of CDI could charge Dillard's *this not recorded in minutes
1998 Bill Dillard became CEO over Dillard's
2006 (Dec) Bill Clark finds out he has cancer
2007
May - Bill Clark passes away, William Clark made CEO of CDI
June 28th - James Mitarotonda-Head of Barington Capital Group LP sent Bill Dillard letter, asking for a meeting - Dillard doesn't respond
Aug James Mitarotonda sends letter to Dillard's Board - Board refuses to respond
October (end of) Bill Dillard proposed to William Clark, redistribution of Bill Clark's 50%. <Per Melinda Glasgow>Dillard would allow William Clark to buy 30% and remaining 20% split between JG and 9 other executives
Nov (early) JG begins working on CDI end of the redistribution deal
Dec 27th Per JG date book, meeting at Bill Dillard's home. **note: JG got the $300K bonus 4 wks before he disappeared, which be Dec 31-could that have been what the Dec 27th meeting JG had at Bill Dillard home?
2008
Jan 2 <per Melinda G> JG arrived home shaken. Dillard's CFO James Freeman showed up that afternoon at JG office, wanting financials for CDI, questioning Bonuses and fees CDI charging Dillards
*date unknown- shortly after Jan 2,) JG went to Colorado for a week.. When he got back, he was surprised to find that Freeman had sent three Dillard’s auditors to comb through CDI’s records. As his staff scurried to retrieve files and answer the auditors’ questions, Glasgow grew increasingly disturbed. He told his wife that he didn’t know what they were looking for
Jan 18th <per Melinda, she came home fm wk to find JG near tears, he told her> Freeman had called him that morning. Whether he actually accused Glasgow of fraud isn’t clear, but, at some point, Freeman had brought up Enron. Glasgow said Freeman told him: “You know the CFO there? He lost his license; he went to prison. Well, that’s what’s going to happen to you.” Glasgow immediately went to see William Clark and told him that the stock-redistribution plan had to be called off. Summoned by an alarmed call from Clark, Bill Dillard soon showed up at CDI’s offices with James Freeman. Glasgow told his wife that after denying he had ever threatened Glasgow with prison—“Oh now, John, you know I didn’t say exactly that”—Freeman had gone on the attack. As one CDI executive would describe it, Freeman had “hauled off on John.” According to Melinda, Glasgow said Freeman again challenged the bonuses given to CDI executives as well as the fees that CDI was charging on Dillard’s jobs. Exactly what else was said is unclear—there may have been issues Glasgow did not reveal—but he said he repeatedly pointed out that nearly everything had been agreed upon by Clark and Dillard in 1996, but suddenly no one seemed to remember that. Glasgow was shocked.
Jan 19th- JG told best friend Mitch Chandler that he had never been so embarrassed and humiliated, **JG CALLS HIS ATTORNEY, WHO WAS ALSO THE LAWYER FOR CDI, AND WHOSE FIRM REPRESENTED DILLARD'S... Apparently concerned that he might somehow be set up for some kind of a fall, Glasgow called his attorney, who was also the lawyer for CDI and whose firm represented Dillard’s. Counseled to simply “keep your head down, give them what they want,” That night after auditors left, JG drove back to his office and put a tap on his office landline phone.
*some co workers stated that JG was more relaxed this week
Jan 24th JG had Mitch Chandler come over and they worked 4 hrs on letter that JG would give to William Clark, on what JG think Clark should say to Bill Dillard
Jan 25th Friday morning Glasgow emailed his Mitch the draft of what turned out to be a letter to William Clark, telling him what to say to Bill Dillard.
Glasgow gave his draft to Clark on Friday afternoon. Per Melinda in the ID episode, she and JG talked Friday night and went over all their options.
Jan 26th Saturday, JG went to work, as he’d been doing for weeks in order to prepare the stock-redistribution plan. There he ran into William Clark, who told him that he’d just personally delivered Glasgow’s letter to Bill Dillard at his home. Melinda said JG barely mentioned it when he got home
Jan 27 Sunday Per Melinda, JG seemed fine, went to office, no one else was at work. Glasgow’s electronic-key-card record shows that he went in and out several times, by CDI’s side door, for what appear to have been cigarette breaks.
Around noon, he went home for lunch.
Shortly after 2 p.m., Melinda found Glasgow lying on the couch in the den “just kind of staring.” He seemed “distant” and “in deep thought,” but it didn’t strike her as unusual because, she says, “John lived in deep thought a lot.” But that moment is the one that bothers her. “I sensed that he was disturbed, you know,” she says, her voice wavering. “Clearly I didn’t think…”
Around 230pm JG returned to CDI
4:05, according to his key card, he left and was gone for exactly 30 minutes. Where he went, no one knows; but he was back home by 5 p.m., as promised.
Shortly after 9 p.m., as he often did, John settled into his favorite armchair, in front of the TV, with his cat, Simon, on his lap
10:30 p.m., ready to go to bed, Melinda shook John gently, but he didn’t wake up, so she let him sleep
Jan 28th
515am neighbor sees JG veh going down road from his home *did not see driver same time phone pings power turned on
722am phone pings off tower that covers between Lake Conway and Wye Mountain
1140am coworker called JG phone, no answer but ping signal bounced off tower located on Bartlett Rd, on Petit Jean Mountain
**Bartlett Rd is 3 miles from Mathers Lodge 1069 Petit Jean Mtn Rd per Google, and Red Bluff Drive shows to be between Bartlett Rd / Mathers Lodge**
230pm JG office calls Melinda, she calls Roger Glasgow and Mitch they go to Glasgow home. Police are contacted, missing person report made. Late Monday night, after getting a frantic call from William Clark, Scott Ford, the CEO of Little Rock-based Alltel Communications, would order a search of Alltel’s records and track the phone to Petit Jean Mountain
Jan 29th
JG veh is located at Mathers Lodge
Jan. 29, Mitarotonda wrote the board yet another letter. This one said Dillard's needed to improve its management to increase its shareholder value.
Between June 30 and Jan. 25, Dillard's stock price dropped 52 percent, wiping out more than $1.5 billion in shareholder value, Mitarotonda wrote. During the same period, the S&P Retail Index fell by 23 percent, he also noted
Feb
Less than a week after Glasgow disappeared, there was a new CFO at CDI—one of the three Dillard’s auditors that Freeman had sent to examine CDI’s books.
March 2008
In a cryptic note in its 10-K for the 2007 fiscal year, filed with the Securities and Exchange Commission in March, Dillard’s informed its stockholders that it was restating its earnings by $10.1 million because of an “error” in CDI’s accounting. While reviewing CDI’s books, Dillard’s said, it had “discovered that CDI had recorded profit on the company’s construction projects in excess of what CDI had previously reported.”
March 20th
Barington Capital and Clinton Group first demands for Retailer Dillard's and CDI Inspection of Books and Records, copies of all board and committee meetings. Barington has pointed out that Dillard's stock price has fallen by about 54 percent from June 30, 2007, through the close of trading on March 18, erasing more than $1.6 billion in shareholder value.
http://www.sec.gov/Archives/edgar/data/28917/000092242308000325/kl03040_ex99-7.htm
April
Dillard's announced that it had retained Stephens Inc. of Little Rock to "assist it in evaluating its options" for its 50 percent of CDI. (Warren Stephens, owner of Stephens Inc., is a member of the Dillard's board of directors, part of a two-thirds majority elected directly by members of the Dillard family.)
July
07/18/2008
11:59 PM PETITION
Entry: PETITION FOR DETERMINATION OF LEGAL INCAPACITY
07/21/2008
11:59 PM ORDER OTHER
Entry: ORDER DECLARING JOHN WILLIAM GLASGOW LEGALLY INCAPACITATED AND GRANTING MELINDA K. GLASGOW TO ASSUME HER DUTIES AS ATTORNEY IN FACT THAT WAS FILED ON 7/15/1996 27/556
Aug 29
Dillard's buys William Clarks 50% for $9.8 million
Sept
Clark and 11 other CDI managers – including Danny Bennett, Shannon Earls and John Johnson – made an offer to buy CDI. But they did not advance to a second round of negotiations in September, Clark said. Two other prospective buyers did. But their bids were "I guess lower than Dillard's wanted," he said. Dillard's Inc. – led by Bill Clark's best friend, William Dillard II – sent word through Stephens' representatives that it would entertain one more offer from the CDI managers.
Dec
On Friday, Dec. 19, Clark said, "We put in an offer we could finance and service. And they said no." The call came from Stephens' COO Curt Bradbury.
2009
Jan 6 Clark resigned as CEO, the next day, Dillard's promoted Lloyd Garrison, president of CDI and one of the first employees Bill Clark hired in 1987, as his successor