It's been over a year but still another day, another proceeding:

Hollinger Inc. has filed a huge lawsuit against Conrad Black, his private companies and several of his former colleagues, demanding more than $635-million in damages and other claims. The suit, filed in Ontario Superior Court by Hollinger and its subsidiary Domgroup Ltd. alleges that Lord Black and the other defendants have inflicted huge legal costs on the company they formerly ran, and that they owe large amounts of money to Hollinger under support agreements....Hundreds of millions of dollars of management fees received from the U.S. operating arm Hollinger International Inc. were "improperly diverted" to Lord Black's private company Ravelston Corp. when they should have gone to Hollinger Inc., the suit alleges.

Oh dear. More at the Globe. The latest New Yorker has an article on the end of the CEO as renaissance hero type what with the trials and jailings for false accountings and such stuff. To be fair, what Conrad faces is something of a different kind of problem, more at the top corporate Board and shareholder level compared to the than mere staff-level CEO and management heroism gone wrong. It is also nowhere near the value of the 11 billion dollar Enron fraud but still this claim alone is twice his 1995 net worth...when he was quite a rich suit and years from having to take out mortgages at AVCO rates.

It all makes me wonder what the next theme of what is jokingly called "business journalism" will be when all the heroes are gone and when the new ethical realm is established, what will share space with the questions surrounding why the US left Iraq too soon and why the Cult of the Undead wants to legislated access into every ER and funeral home in the land.