The dispute centered around five investments Madlock made in 1981 and '82 after he had signed a $5.1 million contract with the Pirates. Greenberg was the agent and attorney for the investments, which lost close to $1 million for Madlock, who may also have to pay up to $900,000 in back taxes and penalties. Three of the charges involved investments in office buildings; Olson exonerated Greenberg on those, attributing the losses to changes in the tax laws and to the real estate recession.
But the other two investments were in a supposedly revolutionary oil-drilling device known as the Terra-Drill, which never made it beyond the drawing board and which the IRS deemed to be a tax-avoidance "sham." In his 22-page opinion, Olson ruled that Greenberg was guilty of a "failure to exercise proper care and skill on Madlock's behalf and that Madlock never would have invested in the Terra-Drill without the "counsel and suggestion of Greenberg."
Greenberg and his lawyers told Olson that no matter who was responsible for the investments, Madlock was late with his lawsuit, and Olson agreed. The suit should have been filed within a year of Dec. 19, 1989, when Greenberg left his law practice to become deputy commissioner. Madlock filed suit on Dec. 28, 1990.
While Greenberg says, "I feel vindicated," Madlock also claims a victory of sorts. "We won, but we lost," he says. "I'm happy that the judge at least said who was responsible."
With This Ring....
A Pennsylvania couple is shooting for all the marbles
In the small circle of marbles, Debra Stanley of Reading, Pa., is very big. On June 27, Stanley coached Brian Shollenberger, 13, to the national boys' title in Wildwood, N.J., the Mecca of marbles. Stanley, 32, has coached a national champion in each of the last eight years, and Shollenberger was the 14th titlist of her coaching career. Stanley is a champion mibster herself, having won the national girls' crown in 1973, so you could make a fair case for calling her the Marbles Queen.
But until the night after the tournament ended, Stanley was a queen without a king. That's when her boyfriend, Steve Lapic, a 29-year-old engineer from nearby Elverson, asked for her hand (not her shooting hand) in a unique way. Patiently waiting for Shollenberger to win the title and for the ensuing celebration to die down, Lapic finally got Stanley alone. Guiding her down the boardwalk in Wildwood and to the marbles rings on the beach, Lapic asked Stanley to sit down in the same circle where she had won her title 18 years ago. Then Lapic, like any mibster worthy of his shooter, almost knocked Stanley out of the circle by producing a diamond ring and proposing marriage.
"He knows how involved I am in marbles," says Stanley. "He could not have picked a better spot. It was on the beach, and it was so romantic. That is, if you consider a marble ring romantic."
The two have decided against having their September '92 wedding in the same ring, preferring to get married closer to home. However, they are considering one suggestion: that their wedding cake be a marble cake.