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* Background is here. SJ-R editorial on the Lincon hat controversy…
The WBEZ report raises many questions. The hat was appraised at $15,000 in 1988 but $6.5 million in 2007. Why the massive increase in value? Prior to the foundation’s purchase of the Taper collection, an appraiser said he based his evaluation on “prior in-depth research by the museum.” But the historians reported they found no evidence of that research. Where is it? Alan Lowe, who has been director at ALPLM since 2016, said he did not see the full report until about a month ago when one of its authors gave it to him. Why did the foundation not give it to him when he arrived? The museum’s curator has been fired. Why?
* From the WBEZ report…
In that letter, [Abraham Lincoln Presidential Library and Museum executive director Alan Lowe] also told Knorowski and McCaskey that he had unearthed a document at the museum from former state historian Thomas Schwartz, who had arranged a 1988 tour of Lincoln artifacts and borrowed the hat from an earlier owner as part of that tour. Taper purchased the hat from that previous owner for an undisclosed price in 1990.
In 1988, Schwartz valued the hat at $15,000, a far cry from its $6.5 million appraisal in 2007, Lowe told WBEZ.
“I’d like to ask Ms. Taper and Mr. Schwartz, ‘Why between 1988 and 2007, what new thing did you see that led you to change the possible value of that from $15,000 to $6.5 million?’ Certainly, that means somewhere along the point, you saw something that was a slam dunk by saying that this belonged to Abraham Lincoln. And if you didn’t, why did you do that?”
WBEZ was interested in posing that question to Schwartz, now director of the Herbert Hoover Presidential Library and Museum in West Branch, Iowa, but he ignored an interview request.
posted by Rich Miller
Friday, Sep 21, 18 @ 12:00 pm
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just don’t put that hat on bed.
Comment by Texas Red Friday, Sep 21, 18 @ 12:07 pm
Well, when the lawsuit happens & discovery begins, we’ll find out what how much that 1990 “undisclosed price” was
Comment by Grand Avenue Friday, Sep 21, 18 @ 12:08 pm
=In 1988, Schwartz valued the hat at $15,000, a far cry from its $6.5 million appraisal in 2007, Lowe told WBEZ.=
Well, Lincoln and the board were republicans, didn’t a lot of republicans see that kind of asset increase from 1988-2007?
Comment by Deadbeat Conservative Friday, Sep 21, 18 @ 12:08 pm
I am so happy that this is finally coming to light.
Comment by Soccermom Friday, Sep 21, 18 @ 12:09 pm
–“I’d like to ask Ms. Taper and Mr. Schwartz, ‘Why between 1988 and 2007, what new thing did you see that led you to change the possible value of that from $15,000 to $6.5 million?’–
I’m guessing the rich, distinct aroma of the meat-a-cookin’.
Comment by wordslinger Friday, Sep 21, 18 @ 12:10 pm
== I’m guessing the rich, distinct aroma of the meat-a-cookin’. ==
Specifically, BBQ pork
Comment by RNUG Friday, Sep 21, 18 @ 12:13 pm
Paging the US Attorney’s office…
Comment by Ron Burgundy Friday, Sep 21, 18 @ 12:16 pm
Did any tax dollars go to this?
Comment by Not a Billionaire Friday, Sep 21, 18 @ 12:17 pm
Any comments from foundation board members? Tony leone? Anything of interest in foundation board minutes, reports? Just curious.
Comment by Langhorne Friday, Sep 21, 18 @ 12:18 pm
Does this mention that Taper was ON THE BOARD when they made the purchase?
Comment by Soccermom Friday, Sep 21, 18 @ 12:20 pm
It’s worth noting that the same Thomas Schwartz that appraised the hat at $15,000 in 1988 was still serving as Illinois State Historian in 2007 when the foundation purchased the hat for $6.5 million. Was he consulted at the time? Why did he not raise red flags?
He’s currently serving as the Director of a a different Presidential Library. He has a professional obligation to answer questions about this, in my opinion.
Comment by ILPundit Friday, Sep 21, 18 @ 12:23 pm
Something smells, not sure where exactly. Taper sure had some good ROI on the hat.
Only political contribution I found in quick online searches of the Tapers: $1,000 to Rauner in 2014 and $5.000 to Jesse Jackson Jr. in 2012.
Comment by Robert the Bruce Friday, Sep 21, 18 @ 12:29 pm
As a former real estate appraiser, this jump in value is unheard of. The process of appraisal generally uses sales of comparable items how to draw a value conclusion. I would love to see what comparable items of clothing were used to draw a 6.5 million dollar conclusion of value.
Comment by Galena Guy Friday, Sep 21, 18 @ 12:34 pm
=just don’t put that hat on bed.=
Tip of the hat to TR.
Comment by Hat Trick Friday, Sep 21, 18 @ 12:41 pm
I also think its time to begin discussing this as broader scandal regarding the Foundation. The secrecy, the inside deals, the dishonesty…honestly, How have we not seen heads roll at the Foundation yet?
Comment by ILPundit Friday, Sep 21, 18 @ 12:44 pm
As far as what Taber paid for the hat, she should have paid a tax on the capital gain of the hat on her state and federal taxes.
If she didn’t, that would be some leverage to getting her to refund the money. I would imagine the tax returns would be available if there is a question of fraud.
Comment by A Jack Friday, Sep 21, 18 @ 12:57 pm
@ILPundit - Tom Schwartz was the one who drove the whole purchase. That’s why it’s so shady.
Comment by LakeCo Friday, Sep 21, 18 @ 1:20 pm
This is literally so Illinois it totally makes sense this happened.
Comment by DuPage Bard Friday, Sep 21, 18 @ 2:59 pm
Redefining hat trick…
Comment by Soccermom Friday, Sep 21, 18 @ 3:03 pm
Jim Edgar and the foundation board ought to turn the hat over and take a collection to pay for it…and hand in their resignations, too.
Comment by flea Friday, Sep 21, 18 @ 3:35 pm
The upcoming hearings should be well-attended. What a mess.
Comment by Arthur Andersen Friday, Sep 21, 18 @ 3:52 pm
–Something smells, not sure where exactly. ==
I would direct your nose to the obvious maladorous concept of kickbacks.
Dude, some people signed off on self-dealing loans for millions to buy a hunk of junk. Ain’t a heavy lift to see that the score got chopped up.
Lincoln, in the constraints of a democratic republic,collected a bunch of Yankees and directed the greatest army ever, to date, to free slaves, and change the course of history.
He is celebrated among the all the people on Planet Earth as one of the greatest figures in history.
Here, in Illinois, he’s abused by every sort of half-a—– grifter — but these crooks, with the hat, are the tops,
Comment by wordslinger Friday, Sep 21, 18 @ 11:23 pm
===Dude, some people signed off on self-dealing loans for millions to buy a hunk of junk. Ain’t a heavy lift to see that the score got chopped up.===
In other words, a bunch of old school Springfield political insiders did what a bunch of old school political insiders had been doing for their entire career?
I hope this can be criminally prosecuted. Too many folks have gotten rich at the expense of the public’s finances and reputation.
Comment by Anon Monday, Sep 24, 18 @ 1:35 pm