MRS Ventures sued by Frank Melton?

[the golden boy]

An article in the June 29-July 5 edition of the Jackson Free Press makes a mention of Jackson mayor Frank Melton and a lawsuit in which he's a plaintiff. According to the article, Jerry Russell of MRS Ventures is a defendant. Here's a portion of the article relevant to MRS:

"Melton is the plaintiff in Melton v. Community Broadcast Group, Inc., Jerry Russell, MRS Ventures, Inc., and Panola National Bank, in which he seeks to collect $2 million in loans and legal fees that he says he is owed."

Did MRS borrow money from Frank and didn't pay him back? In MRS' case, when it rains, it floods.

 

[PaulBWalkerJr]

I wouldn't be at all surprised.

When I worked in Marks, they once cashed a check from WQMA to WROX that didn't belong to them and then refused to give it back...

 

[LABreeze]

Well, well, well.....if that's the pot calling the kettle black! I just knew it. (Jerry) Russel's camp is indeed going down. Yawn!

 

[musicsweep]

Well, it looks like the final nail has been put into the coffin for MRS.

Frank Melton was one of Russell's chief financial backers. My guess is that Mr. Melton did not like the way Russell was doing things, and called the loan due. Russell didn't have the cash (because he over-extended his investment capital) and so we have the Lawsuit. What puzzles me is why Mr. Melton is suing Panola bank. Panola loaned Jerry Hanszen the money to buy KMHT from Russell. Maybe Mr. Melton thought Panola should have cut a check to him and not Russell.

I feel sorry for Mr. Melton. His backing of Russell's enterprise was his attempt to help a colleague go into business for himself. I feel bad that his reputation has been smeared because of Russell's antics.

 

[the golden boy]

Frank's rep is already smeared, but that's another story for another day.

 

[musicsweep]

Frank's rep is already smeared, but that's another story for another day.

He still has a good rep in Texas, largely because of his work with SFA university, and his previous ownership of KTRE and KLTV. Personally, I liked the "This man sells drugs" billboards. He has done alot for the YMCA in Jackson, from what I understand.

Russell, on the other hand, is known for undercutting his own employees, friends, and business associates. Surely Melton does not do that.

 

[LABreeze]

He still has a good rep in Texas, largely because of his work with SFA university, and his previous ownership of KTRE and KLTV. Personally, I liked the "This man sells drugs" billboards. He has done alot for the YMCA in Jackson, from what I understand.

Russell, on the other hand, is known for undercutting his own employees, friends, and business associates. Surely Melton does not do that.

It just goes to show you that one person who has more business savvy in the media than the other, can burn his bridge so fast, the traffic that's backed up for miles will have to really find a detour to get through. 'Sweep you and I have already know that that brotha (JR) has the makings of dictator ala Saddam Hussein. And now he is in hiding....probably digging a much bigger hole somewhere out of nowhere so no one can find him. We'll have to see how it will all pan out from there.

Frank, on the other hand has a good rep in Texas and made a great difference there. You are right about how he does business. He knows what he's doing and is a true broadcaster in his own right. Never a dictator but a smooth operator. I haven't met Frank personally but I've heard so much about him. But other than that, we'll have to see how the lawsuit between him and Russell pan out.