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Occurrences in the Congressional Record

Entry Title Date
In Memory Of Richard Rainwater September 28, 2015
Joe Wilson, R-SC
"Long before Wall Street was littered with swaggering hedge- fund billionaires, Richard Rainwater earned a Texas-size reputation as an investor with an eye on the big score. He helped install Michael Eisner as Walt Disney Co. chief executive, steered George W. Bush to buy a stake in Major League Baseball’s Texas Rangers and helped multiply the Bass family fortune one-hundred-fold before building a billion- dollar one of his own. “My brother said, `Don’t be mediocre at anything; be remarkable at something,’ ” Mr. Rainwater recalled in 2010 in a speech at Stanford University. Mr. Rainwater died on Sunday morning at his home in Fort Worth, Texas, according to the Rainwater Charitable Foundation and his family. He had been suffering from complications of a rare brain disease. He was 71 years old. Born to a middle-class family, Mr. Rainwater parlayed a gift for mathematics and a gregarious personality into a more than $2 billion fortune as a financial adviser and wheeler- dealer whose underlings went on to become chief executives, governors and hedge-fund tycoons. “He was a laid back guy who liked to invest but he was not a fan of fancy dinners or some of the other things that went with it,” his son, Todd, said on Sunday. “What he was best at is being a talent scout. He would find a troubled business, find the best person to run it, the Michael Jordan of that industry, and inevitably that person would turn the business around”. A native of Fort Worth, Mr. Rainwater attended the Stanford Graduate School of Business on scholarship, where he met Sid Bass, who hired him to serve as chief investment adviser for the Bass brothers, who were also from Fort Worth. He began working in 1970 for the Bass family, which had inherited an oil fortune from Texas wildcatter Sid Williams Richardson, and helped them to dramatically increase their wealth over the next decade and a half through a dizzying succession of deals. Perhaps the most famous deal was the Bass family’s rescue of then-struggling Disney in 1984 with a nearly $500 million investment to ward off a potential hostile takeover bid by financier Saul Steinberg. Mr. Rainwater helped handpick a new management team for Disney led by Mr. Eisner that brought the studio back to prominence—and made the Bass brothers billions. “Richard was one of best deal guys who ever lived,” said David Bonderman, who met Mr. Rainwater while working for Robert Bass and later founded private-equity giant TPG. “He was always confident and idiosyncratic, and generally was right.” Mr. Rainwater struck out on his own in the late 1980s, continuing his penchant for spotting distressed assets and market quirks that made for bold investment opportunities through his private-equity firm, Rainwater Inc. His winning moves included buying more than 15 million square feet of downtown Houston real estate during a slump in the mid-1990s; many of the properties later sold for two or three times his purchase price. In addition to mastering the art of the deal, Mr. Rainwater became known for his extraordinary ability to spot and cultivate young talent during the 1980s and early 1990s. His Fort Worth offices became a salon of sorts for ambitious young financiers. Among those he encouraged was Edward S. Lampert, who began his ESL Investments Inc. hedge fund in the office. Down the hall at the time was Rick Scott, who became the CEO of the Columbia/HCA hospital chain and is now governor of Florida. “He believed in [young people] and made them believe in themselves,” said Mr. Lampert, who later made a fortune for investors buying the debt of Kmart and steering the troubled retailer out of bankruptcy. Mr. Rainwater’s unorthodox personal style—he would often stand on his desk to hammer home a point—made an impression on his proteges, as did his lack of pretense. Mr. Bonderman recalled how Mr. Rainwater once traveled to a city to cut a deal without packing a suitcase; the billionaire brought a change of clothes in a paper bag. “He couldn’t be bothered, he was a total character,” Mr. Bonderman said. “It was all about making lot of money and having fun doing it.” Mr. Rainwater, who had three children with his first wife, Karen, married Darla Moore, a prominent bankruptcy banker, in "
Honoring The Life Of Roseann M. Schaeffer September 24, 2015
Tim Ryan, D-OH
"Mr. Speaker, I rise today to honor the life of Roseann M. Schaeffer, daughter of Rosario and Rita Levero Frandanisa who passed away peacefully on July 28, 2015, in her home. Roseann was a 1958 graduate of Niles McKinley High School and a 1962 graduate of Youngstown College, with a Bachelor’s Degree in Education. She was employed for over 40 years as a teacher at Our Lady of Mount Carmel Catholic School in Niles, retiring in 2005. Roseann was a steadfast fixture in the Mt. Carmel community as a member of Our Lady of Mount Carmel Parish, taking on such roles as church lector, member of the Liturgy committee, Parish Anniversary committee, festival volunteer, Pep Club and Year Book advisor, and Monday Rosary group. She was also one of the original founders of S.I.G.N.(Service in God’s Name), a preparatory program for confirmation students. She will be deeply missed by two brothers, Anthony Frandanisa and his wife, Theresa, of Niles and Angelo Frandanisa and his wife, Rosemarie, of Kirkland, Wash.; her nieces and nephews, Ann Genovese and her husband, Robert, Tony Frandanisa, Rita Kanareff and her husband, Kevin, Joseph Frandanisa and his wife, Karen, Renee Charawell, Jimmy Frandanisa and his wife, Carrie, and Bobby Frandanisa and his wife, Kelley; and many great-nieces and great-nephews. She was preceded in death by her parents. The residents of Northeast Ohio are known to be compassionate, community oriented individuals. Whether it was engaging in her Mt. Carmel Parish community, or cooking and playing cards as she so loved, Roseann was certainly no exception."
Providing For Consideration Of H.R. 348, Responsibly And Professionally Invigorating Development Act Of 2015; Providing For Consideration Of H.R. 758, Lawsuit Abuse Reduction Act Of 2015; And… September 17, 2015
Ami Bera, D-CA
"Dear Mr. Speaker: I have the honor to transmit herewith a facsimile copy of a letter received from Mr. Steven S. Sandvoss, Executive Director, State Board of Elections for the State of Illinois, indicating that, according to the preliminary results of the Special Election held September 10, 2015, the Honorable Darin LaHood was elected Representative to Congress for the Eighteenth Congressional District, State of Illinois. With best wishes, I am Sincerely, Karen L. Haas, Clerk. Enclosure."
Tribute To Calvin And Karen Larsen September 16, 2015
David Young, R-IA
"Mr. Speaker, I rise today to recognize and congratulate Calvin and Karen Larsen of Underwood on the very special occasion of their 50th wedding anniversary. Calvin and Karen were married in 1965 and are lifelong residents of Southwest Iowa."
Tribute To Heath Downing September 16, 2015
David Young, R-IA
"Mr. Speaker, I rise today to recognize and congratulate Heath Downing of Creston, Iowa, for receiving a state 4-H food and nutrition project award. Heath is the son of Steve and Karen Downing of Creston."

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