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Candidate Responds

April 18, 1993

In response to the article on my financial difficulties ("Challenger Knows All About Debt," Times Valley Edition, April 8), I would like to set the record straight.

* In the quote stating that Ms. Handal did not know of the investment, your reporter failed to continue the quote in which I stated that in fact she had no knowledge of any investments, as I had a power of attorney and had been investing her money for years.

* With regards to the 50 creditors that are stated as getting no money, the quote is taken out of context. It was stated that they would receive nothing from the personal Chapter 7 case. But the majority of them are not only going to receive their money from the Chapter 11 case, of which the debts listed are the same, in fact most of the creditors are still current vendors of San Gennaro, and happy vendors at that.

* It is stated that San Gennaro is not successful. That is untrue. At this time, San Gennaro is a growing and prosperous restaurant. The corporation did take advantage of the reorganization process, a process used by some of the largest corporations in America. This process is a constitutional right.

* With regard to the DWP debt, again you failed to print the whole statement, which would have advised the public that immediately upon filing the reorganization, the company gave DWP a $6,000 deposit, thereby securing the prior debt.

* I was asked in the interview if this should disqualify me from running for City Council, and my answer was absolutely not. The fact is that our current councilman differs from myself in that Braude stated in our last forum together that he has no plan for our city, a city that he has helped create a deficit of up to half a billion dollars for 1993-94. Yet today, my business is healthy again, due to proper management and vision and the ability to have a plan for the future.

Finally, the sarcasm of the article, the omissions of statements and the quotes out of context lead one to question the purpose of the article. Was it to let the public know the facts, or to help an incumbent retain his hold for another four years?


Los Angeles

Handal is a candidate for City Council in Los Angeles' 11th District.

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