Another Black day? What other wacky puns can be drawn from the slide Connie finds himself on? Nicest new touch?
Hollinger International also launched a lawsuit claiming $200 million US against Black, his right-hand man David Radler and companies controlled by the two men.I'd be all scowlly, too. Unlike most lives his hand has influenced, a relative of mine actually benefitted at one stage of his life amongst acquisitions of the yellow presses by Black. For that we thank you, Big Con, for the extra ale change and Thomas the Tank Engine budget. Few and far between in the case of an anti-capitalist like Black. A capitalist uses capital to create wealth. Where he made money, Black split and sold off capital, a scavenger creating his own carrion - a denial of the power of asset. Where he did not make money, he was running newspapers (now removed from him and soon in the hands of others maybe themselves of that ilk) and making himself the cartoon-like semblence of an important person he willed himself into being. Nothing illegal in any of that. Make yourself as you wish, I say, and answer to your Maker for your choices. He is in deeper water now, though, than just being thought pompous and tedious. What is he worth compared to the charges and claims he faces? This glory-days-era site has him as follows:
Conrad Black, chairman and CEO [net worth (1995): $302.6-million, making him the 28th richest person or family in Canada (Financial Post Magazine, January, 1996)]I sure hope, but doubt on a net basis, that he is better off the noo compared to eight nine years ago as these law suits will be just beginning and a few hundred million Canuck will not go far if even these first claims are founded. Why, by the way, do some Canadian media call him Lord Black anyway. It is a foreign title system in which we do not participate. Would we really call her Lady Thatcher? Lord Heath? Doubt it - well maybe if she were shouting at me. Well, good thing you can make a buck selling a title, too. He may need it all. Good luck to you, Connie! We're all going to learn a whole lot about you over the next few years as the ugly spectacle of a breach of fiduciary duty by corporate director - or whatever is actually alleged - unfolds.
Comments
Alan - September 1, 2004 1:01 PM
Looting!?!? Maybe Big Connie may think the least of his worries is being broke: <blockquote class="smalltext">Outlining how Hollinger's funds were used, the report notes that Lord Black and his wife Barbara Amiel included a long list of items — ranging from cell phones to perfume — among their living expenses. Lord Black's corporate-expense reports, the committee said, included charges of $24,950 for “summer drinks,” $2,057 for a T. Anthony Ltd. leather brief case, $3,530 for silverware for Lord Black's corporate jet, and $42,870 for a “Happy Birthday, Barbara” dinner at New York's La Grenouille restaurant. “Eighty guests including Oscar de la Renta, Peter Jennings, Charlie Rose, Barbara Walters, and Ron Perelman enjoyed dinner at $212 a plate, including Beluga caviar, lobster ceviche, and 69 bottles of fine wine,” the report said. “Black paid an additional $20,000 toward the cost of the evening.”</blockquote>All I can think of is Enron. Plea bargaining there is happening daily these days.
SayNay? - September 1, 2004 1:30 PM
I never thought "greed" was a Canadian vice, but now we have Black and Hollinger and Bernie Ebbers and WorldCom, and....
Alan - September 1, 2004 2:27 PM
Here is another great quotation on the news from <i>The National Post</i>, Black's former organ:<blockquote class="smalltext">"The cash the insiders pursued so ravenously did not come from taking an aggressive share of the growth of an expanding firm... The bulk of what [Lord] Black and [David] Radler were taking from Hollinger was cash, and that cash did not come from earnings or the creation of value for all shareholders."</blockquote>
SayNay? - September 1, 2004 5:18 PM
All kidding aside, Lord Crossharbour is in serious, serious trouble given the corporate governance climate now in the US and the willingness not just to sue, but to prosecute. Let's just see how long it takes Justice to lay a "perjury" charge, arising out of say, his depositions or testimony in the Delaware court case or some other sort of sworn securities filing or statement etc. He looks headed to die a broken, if not a "broke", disgraced man.
Alan - September 1, 2004 5:59 PM
I might soon be asking myself which jurisdiction I'd like to get charged, pled and jailed in first.
He can look at a bright side. He'll make a great topic for CBC's this day in history round about 2042.
SayNay/ - September 2, 2004 12:40 PM
And Barbara "my extravagence knows no bounds" Amiel, makes Leona Helmsly look like a piker! ("piker":www.word-detective.com/112700.html)
Great picture yesterday on the cover of the Globe and Mail: the "dressups" end up looking like foolish ill-gotten wealthy neo-conservative trailer trash.