Back in March, the Securities and Exchange Commission accused Lynn Tilton and her firm, Patriarch Partners, of lying to investors about the value of underlying loans in three collateralized loan obligations. Never one to stand down from a fight, Tilton nearly immediately struck back, suing the regulator and claiming it was violating her constitutional rights by filing the case against her within its in-house court system, wherein one of the SEC's own judges would preside over her case. After that, she took to Twitter, Instagram, and presumably many other forms of social media to wage her campaign against the SEC on the internet. She uploaded photos of herself being trailed by photographers on the beach, wearing ripped white jeans and calling herself an island girl whose indomitable spirit could not be broken by lawyers or anyone else; she shared videos explaining her business process from a U-shaped leather couch surrounded by dozens of brown leather pillows; she saw a lot of similarities between herself and David, of David v Goliath; she hash-tagged the words "warrior," "fighter," "ladyboss," "sheforall," "jobs," "life," "love," "laughter," and "fightlikeagirl."
Then, on June 30th, a setback. A judge rejected her case against the SEC, and said she would have to work through the confines of its courts. But while the blow might’ve dragged another, weaker-willed money man or lady down, Tilton said no. Fuck that. I'm a #warrior and #warriors #fight like #champions, no excuses.
Another thing #warriors don't do? They don't apologize. And in a new profile with Bloomberg BusinessWeek's Sheelah Kolhatkar, we learn that there are a whole bunch of things that Tilton won't offer some lame apology for in the hopes of making other people comfortable. Specifically, she won't apologize for:
1. Basically being a lord and savior to the people who work in the companies she owns.
Before she started Patriarch in 2000, she says in a honeyed tone, she’d been planning on retiring and becoming “an island girl,” moving someplace quiet and beachy with her teenage daughter, Carly. But then a jolt of inspiration came to her, and she realized her life was meant to be about something more than making deals...Tilton’s savvy for making distressed-debt investments has made her a very wealthy woman, while also, she argues, helping to protect American families from financial ruin. If you take her at her word, the SEC’s case against Patriarch appears ironic: The agency, in her view, is accusing her of putting the interests of the companies she invests in ahead of the financial interests of the same investors whose money she’s using to support the companies. She says she cares too much about the fate of her companies to let them die. But what the SEC may be saying is that Tilton enriches herself first, while wrapping herself in the flag.
2. Intimidating employees with her sexuality and maybe, like, approaching clients at dinners and laying unsolicited kisses on them.
Stories of her antics—squeezing the derrières of male colleagues, coming up behind them and sticking her tongue in their ears—are legendary. At a dinner in Chicago celebrating a particularly successful deal many years back, Tilton grabbed a male client and kissed him, according to a person who was there. The client was so shaken that he complained to Tilton’s bosses the next day. Tilton says she doesn’t recall the incident, although she recounts many of them herself. “You understand that it’s all part of the game,” she says, speaking in general terms. “I was attractive, and that drew men to me, and as long as it didn’t get in the way of me being able to be successful using my intellect and my talent, then I didn’t let it bother me.” [...] A lawsuit filed in 2010 against Patriarch by Andrzej Wrobel, a former executive managing a group of technology companies owned by Patriarch, accused Tilton of violating his contract and firing him to avoid paying him bonuses he said he was owed. Patriarch said he’d been dismissed after abusing his expense account. In one complaint he filed, he accused Tilton of “conducting a work atmosphere so filled with sexual innuendos and a river of vulgarities as to create needless job stress, tension, emotional distress, and humiliation on the part of the employees in her presence.” He also accused her of intentionally wearing skirts so short that people got an eyeful during business meetings. “Am I a soft rose petal falling from the vine? Absolutely I am tough,” Tilton says, adding that she and Wrobel hardly crossed paths. “I am not going to tell you that I am easy to work for. But in general, people who work for me know that I would walk through fire for them.”
So go bark up another tree if you're looking for I'm sorrys. Your messiah's got squats to do.
“When this is all over, I hope that my dream to be an island girl will come true,” she says with a sigh. “The problem is I don’t look as good in a thong bikini as I did 15 years ago.”
Earlier: Lynn Tilton Not Taking SEC Charges Lying Down; How Would Lynn Tilton Punish Lynn Tilton?; Lynn Tilton Sees A Lot Of Similarities Between Her Battle With The SEC, David And Goliath; Lynn Tilton Bares All; This Is A Story About Lynn Tilton’s Employees Doing Jello Shots Off Her Rack; Step Into Lynn Tilton’s Office; Lynn Tilton’s Unique Take On Trust Falls May Cause Side Effects; Lynn Tilton: Never Apologize For Sending Near-Naked Christmas Cards To Your Clients And Friends On Wall Street; So Lynn Tilton Filmed Another Video Address From Her Living Room; And Now A Message From Lynn “Rambo” Tilton; Lynn Tilton Goes To Her Happy Place; Lynn Tilton Taking It From Both Sides; Whatever Doesn’t Kill A Lynn Tilton Makes Her Stronger