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However, McFadden’s ruling left the door open for Interior to formally reconsider the underlying gaming eligibility question.
Scotts Valley has maintained that federal officials reversed course under intense political pressure from the Yocha Dehe Wintun Nation, a neighboring tribe that opposes the Vallejo casino development.
During Friday’s hearing, McFadden appeared skeptical that Scotts Valley had met the rigorous legal standard required to demonstrate irreparable harm. He has not yet issued a ruling on the preliminary injunction request.
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Unfortunately, because of that attorney-client privilege, it is difficult to know what types of ethical dilemmas Hasselback is facing. However, it’s likely just the mere hint at issues will be enough for IPI to find itself, once again, being more closely scrutinized. Where that leads is anyone’s guess, given gaming regulators’ reluctance to hold the company accountable for its actions.
IPI now has until this Friday to find a new lawyer to carry the six-case workload Hasselback had, but will most likely use this as an excuse to delay the ongoing legal battles. It won’t get very far with that, though, and perhaps Judge Kennedy expected IPI to try something. She added in her ruling that the attorney’s exit “may cause some delay, [but] that delay is not so much so that it would cause significant prejudice or adversely and materially affect the plaintiff.”
This particular lawsuit involving Fox Financial, one of a growing list IPI is battling, centers on an arrangement the company made with a third party, Forson Holdings. That entity had leased property from Fox in 2016, but fell behind. IPI had signed as a guarantor of that lease agreement and, as such, was responsible for covering Forson in the event payments weren’t made. However, it decided it didn’t need to follow the terms of the contract.
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“If you’re buying or selling one-day options, that is not investing. It is not speculating. It is gambling,” Buffett said during an interview with CNBC. “There’s nobody who can explain why they’re buying an option for one day.”
Buffett, who built his fortune buying “wonderful businesses” at fair prices and holding them for the long term, believes the public has mistakenly adopted a get-rich-quick mindset.
“We’ve never had people in a more gambling mood,” Buffett observed.