Everett Bank Going Public; Depositors Asked to Vote For Plan on May 5

A Big Moment For A Rapidly Growing Institution

By Josh Resnek

With approximately $700 million in assets, thousands of happy depositors, mortgage customers and small business relationships, commensurate with commercial and real estate growth in the city, the Everett Cooperative Bank, Everett Bank, is going public.

If depositors approve the plan at a special meeting on May 5, millions of dollars of additional capital will be raised with the sale of stock that will be traded and a new company will be formed. The capital raised will enable Everett Bank to continue to grow in increasingly competitive marketplace.

Initially, ECB Bancorp, Inc. will sell shares to eligible depositors of the bank as of December 31, 2020. ECB Bancorp will also be establishing and funding a charitable foundation to be named, Everett Co-operative Bank Charitable Foundation, Inc.

In both instances, the bank is positioning itself to continue to have an important place in the future economic development of the city as well as to provide a rock solid depository for those who use the bank as well as for those who will own its stock.

Bank President Richard O’Neil will be given a 3 year contract to remain at the helm.

Continue reading “Everett Bank Going Public; Depositors Asked to Vote For Plan on May 5”

Former Supt. Gauthier Sues Mayor, Parker, City and School Committee

By Josh Resnek

Janice Gauthier served as acting superintendent of the Everett Public Schools for 15 months but was not considered for the school superintendent’s position during the selection process.

Gauthier gave 47 years of her life to the EPS. She believes she was robbed of a chance to become the superintendent because of her age, she is now 70, and that she has been unlawfully, illegally, improperly and maliciously deprived of her means of livelihood, according to a lawsuit filed in Superior Court March 10.

She also alleges she was humiliated and has endured pain and mental suffering as a result of not being considered to be the superintendent when her credentials were far more exemplary than any other individual applying.

Continue reading “Former Supt. Gauthier Sues Mayor, Parker, City and School Committee”

Hanlon tops at-large ticket, Marchese, Smith, Cardillo, Dell Isola have big day

SEPTEMBER 21: Primary day “I Voted” sticker wait for voters to collect them. September 21, 2021 in Everett, Massachusetts. (Photo By Jim Mahoney)

By LEADER STAFF

John Hanlon, Mike Marchese, Stephanie Smith and Irene Cardillo scored huge votes in primary balloting Tuesday.

Halon topped the ticket with 2,255 votes, an accomplishment for the longtime serving councilor, former mayor and former city clerk.

Marchese also showed unusual strength coming in with 2,174 votes.

Smith, in a stunning victory that signals her return to city government, tallied 2,164 votes following a strong run.

She is the youngest of the contenders.

Irene Cardillo’s vote was also substantial in the over 2,000 range.

Continue reading “Hanlon tops at-large ticket, Marchese, Smith, Cardillo, Dell Isola have big day”

$96,000 Forced Payment to Mayor by City Clerk Raises Questions About Extortion Plot

Payment to Mayor Followed Threats Against Cornelio to Cut His Office Budget and To Ruin His Life

SEPTEMBER 7: Corey Street property. (Photo by Jim Mahoney)

LEADER HERALD STAFF REPORT

Everett’s City Clerk Sergio Cornelio says Mayor Carlo DeMaria stole $96,000 from him as a result of Cornelio’s sale of a property at 43 Corey Street.

“When the mayor found out what I was going to receive from the sale of the property, he told me in no uncertain terms he wanted a piece of the action,” Cornelio revealed to the Leader Herald.

Cornelio told the Leader Herald he was badgered and bothered by the mayor for the payment to the point of it affecting his health and well-being.

“I gave up against the weight of his power over me and his threats to ruin me,” he told the Leader Herald.

Before the sale, Cornelio apparently met with two well-known local developers to measure their interest in buying the property from him.

“The mayor told one developer not to touch it if he wanted to do business with the city in the future.” He told the second developer, ‘This is my score. You are to have nothing to do with Corey Street. It is mine,’” according to Cornelio.

Continue reading “$96,000 Forced Payment to Mayor by City Clerk Raises Questions About Extortion Plot”

Mayor, Adrien kick off election fundraising campaigns

MARCH 31: The newly elected mayor this fall will have new entrance to enter as a member of the city’s facility department cleans up pieces of the decaying facade from city hall. (Photo by Jim Mahoney)

Capone has not been raising money publicly

By JOSH RESNEK

In mayoral campaigns, money can often be the deciding factor.

Popularity counts. Perception counts. Momentum counts.

Who is running means everything.

Who might be running right now counts for a lot.

The mayor has announced.

Two others are doing a dance. The mayor is running again to make certain his hold on the city’s finances is iron-fisted, and his complete control of development can continue unabated.

Being mayor is not a job for the mayor. It is his business. He treats it as such.

His campaign account stands at about $95,000. According to his most recent campaign account filing, he spent about $5,000 in March for printing and Internet social platform services.

The money stream means everything to the mayor. Without a victory in this upcoming campaign, he is out of a job and the money stream dries up.

The mayor is expected to raise $100,000 to $150,000 to add to his campaign account.

Developers, business owners, city employees wanting to keep their jobs, and a wide variety of others like city vendors are expected to contribute to him.

Councilor Gerly Adrien, should she run, is believed to be capable of matching the mayor’s money-raising efforts dollar for dollar if push comes to shove.

Continue reading “Mayor, Adrien kick off election fundraising campaigns”