Athens Review, Athens, Texas

October 2, 2012

Business leaders gather for LaRue economic summit

Rich Flowers
The Athens Review

Athens — Financial leaders and public officials gathered at a sprawling ranch 10 miles east of Athens Tuesday, for the Barefoot Economic Summit in Texas, which has become an annual affair in recent years.

Security was tight at Barefoot Ranch, just off U.S. Highway 175 in LaRue. A make-shift sign pointed the way for the dignitaries arriving at the property for the exchange of ideas. 

Texas Gov. Rick Perry and 5th District U.S. Rep. Jeb Hensarling are reported to be among the political leaders in attendance.

Each have been present at the Summit in previous years. In 2011, about 40 took part in the summit, news reports indicate.

World-wide investor Kyle Bass is founder of the event. He has an extensive resume in the world of business. Bass founded Hyman Capital Management L.P. in 2005, and has guided it through the tough economic times of the past seven years. The minimum investment with his company is $1 million.

Past attendees say the meetings are a free-flow of ideas and unfettered debate, conducted out of the glaring eye of the public, with Bass an active participant in the discussions.

C-NBC is again present to interview some of the participants, and give the public some insight into what is being covered in the discussions.

Hensarling, the top ranking Republican member of the House Financial Services Subcommittee, was a C-NBC interview during the run of the 2010 Summit.

The Congressman stated  that the tone of the discussion was that the “economic uncertainty we are experiencing keep all the capital and job creators on the sidelines.”