John Lakian
Encyclopedia
John Lakian is a wealthy businessman and former candidate for governor of Massachusetts
. He has founded several businesses, and served on the board on many others. He had an unsuccessful run for governor that resulted in a high profile lawsuit in 1982, and an unsuccessful bid for U.S. Senate in 1994. Lakian served in Vietnam and was awarded a Bronze Star
.
and venture capital
firm based in New York City
. In 1986, he launched McKinley and Allsopp, a brokerage firm
that provides investment-banking services. His financial service companies have served a number of high profile Wall Street
firms including Paine Webber
, Merrill Lynch
, Deutsche Bank
and Solomon Smith Barney.
In 1994, Lakian led a group that founded First New England Dental, a dental practice holding company in New England. The Company attempted a public offering in 1997, but was unsuccessful and filed for bankruptcy the following year.
Lakian is the current CEO of Living Independently Group, a company which develops monitoring system to assist in the care of senior citizens. He has served on the boards of Merchants Capital, Mr. Coffee
, Joseph A. Bank, Peoples Department Stores, Apparel Marketing Corporation, FNEDC, Sheffield Medical Technologies, The Molloy Group, and Standard Life of Indiana.
story revealed that he had made several exaggerations about his background, he was forced to publicly confess and lost the nomination to John W. Sears
. Supporters blamed the loss on The Boston Globe
, claiming it had unfairly defamed Lakian.
As a result, Lakian sued The Globe for libel, claiming $50 million in damages. The court case drew national media attention and eventually resulted in The Globe being cleared of all charges. The jury found that the article contained some false information, but awarded no judgment, stating that Lakian had failed to prove any actual harm. Lakian appealed and the case was finally resolved in 1987 when the Massachusetts Supreme Court rejected the appeal.
Lakian returned to politics in 1994 to challenge Mitt Romney
for the Republican nomination for U.S. Senate. Lakian outspent his rival, but was unable to overcome his past and Romney won the nomination.
and served as a lieutenant in the United States Army
during the Vietnam war. He was awarded a Bronze Star
with a "V" for valor for his combat operations.
Massachusetts
The Commonwealth of Massachusetts is a state in the New England region of the northeastern United States of America. It is bordered by Rhode Island and Connecticut to the south, New York to the west, and Vermont and New Hampshire to the north; at its east lies the Atlantic Ocean. As of the 2010...
. He has founded several businesses, and served on the board on many others. He had an unsuccessful run for governor that resulted in a high profile lawsuit in 1982, and an unsuccessful bid for U.S. Senate in 1994. Lakian served in Vietnam and was awarded a Bronze Star
Bronze Star Medal
The Bronze Star Medal is a United States Armed Forces individual military decoration that may be awarded for bravery, acts of merit, or meritorious service. As a medal it is awarded for merit, and with the "V" for valor device it is awarded for heroism. It is the fourth-highest combat award of the...
.
Businessman
Lakian is the founder and current board chairman of the Fort Hill Group, Inc., an investment bankingInvestment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
and venture capital
Venture capital
Venture capital is financial capital provided to early-stage, high-potential, high risk, growth startup companies. The venture capital fund makes money by owning equity in the companies it invests in, which usually have a novel technology or business model in high technology industries, such as...
firm based in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. In 1986, he launched McKinley and Allsopp, a brokerage firm
Brokerage firm
A brokerage firm, or simply brokerage or broker in context, is a financial institution that facilitates the buying and selling of financial derivatives between a buyer and a seller...
that provides investment-banking services. His financial service companies have served a number of high profile Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
firms including Paine Webber
Paine Webber
Paine Webber and Company was an American stock brokerage and asset management firm that was acquired by the Swiss bank UBS AG in 2000. The company was founded in 1880 in Boston, Massachusetts, by William Alfred Paine and Wallace G. Webber. Operating with two employees, they leased premises at 48...
, Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
, Deutsche Bank
Deutsche Bank
Deutsche Bank AG is a global financial service company with its headquarters in Frankfurt, Germany. It employs more than 100,000 people in over 70 countries, and has a large presence in Europe, the Americas, Asia Pacific and the emerging markets...
and Solomon Smith Barney.
In 1994, Lakian led a group that founded First New England Dental, a dental practice holding company in New England. The Company attempted a public offering in 1997, but was unsuccessful and filed for bankruptcy the following year.
Lakian is the current CEO of Living Independently Group, a company which develops monitoring system to assist in the care of senior citizens. He has served on the boards of Merchants Capital, Mr. Coffee
Mr. Coffee
Mr. Coffee is a registered trademark of Sunbeam Products, Inc. d/b/a Jarden Consumer Solutions. The Mr. Coffee brand manufactures automatic-drip kitchen coffee machines as well as other products.-History:...
, Joseph A. Bank, Peoples Department Stores, Apparel Marketing Corporation, FNEDC, Sheffield Medical Technologies, The Molloy Group, and Standard Life of Indiana.
Politician
In 1982, John Lakian ran for the Republican party nomination for governor. He was the early favorite after securing the party's endorsement. Lakian spent nearly $1 million on his failed bid. After a The Boston GlobeThe Boston Globe
The Boston Globe is an American daily newspaper based in Boston, Massachusetts. The Boston Globe has been owned by The New York Times Company since 1993...
story revealed that he had made several exaggerations about his background, he was forced to publicly confess and lost the nomination to John W. Sears
John W. Sears
John Winthrop Sears is an American politician who served as a member of the Massachusetts House of Representatives from 1965-1968, Sheriff of Suffolk County, Massachusetts from 1968-1969, Metropolitan District Commissioner from 1970-1975, Chairman of the Massachusetts Republican Party from...
. Supporters blamed the loss on The Boston Globe
The Boston Globe
The Boston Globe is an American daily newspaper based in Boston, Massachusetts. The Boston Globe has been owned by The New York Times Company since 1993...
, claiming it had unfairly defamed Lakian.
As a result, Lakian sued The Globe for libel, claiming $50 million in damages. The court case drew national media attention and eventually resulted in The Globe being cleared of all charges. The jury found that the article contained some false information, but awarded no judgment, stating that Lakian had failed to prove any actual harm. Lakian appealed and the case was finally resolved in 1987 when the Massachusetts Supreme Court rejected the appeal.
Lakian returned to politics in 1994 to challenge Mitt Romney
Mitt Romney
Willard Mitt Romney is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for the 2012 Republican Party presidential nomination.The son of George W...
for the Republican nomination for U.S. Senate. Lakian outspent his rival, but was unable to overcome his past and Romney won the nomination.
Personal life
John Lakian attended Boston UniversityBoston University
Boston University is a private research university located in Boston, Massachusetts. With more than 4,000 faculty members and more than 31,000 students, Boston University is one of the largest private universities in the United States and one of Boston's largest employers...
and served as a lieutenant in the United States Army
United States Army
The United States Army is the main branch of the United States Armed Forces responsible for land-based military operations. It is the largest and oldest established branch of the U.S. military, and is one of seven U.S. uniformed services...
during the Vietnam war. He was awarded a Bronze Star
Bronze Star Medal
The Bronze Star Medal is a United States Armed Forces individual military decoration that may be awarded for bravery, acts of merit, or meritorious service. As a medal it is awarded for merit, and with the "V" for valor device it is awarded for heroism. It is the fourth-highest combat award of the...
with a "V" for valor for his combat operations.