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Reply #28: That would be Richard Kleptocracy Perle... [View All]

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MrBenchley Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-02-04 03:58 PM
Response to Reply #25
28. That would be Richard Kleptocracy Perle...
"In a 513-page report shot through with sarcasm and disgust, a special committee of publishing company Hollinger International Inc. concluded that former officials Conrad Black and F. David Radler ran a "corporate kleptocracy," diverting to themselves virtually all the company's $400 million in earnings over seven years.
The report, which was filed as part of a Hollinger lawsuit seeking to recover $1.25 billion from Black and others, also criticized certain directors for being "ineffective and careless" in stopping the "systematic looting" of the company. And it reserves some of its harshest criticism for Richard Perle, calling on the former Reagan administration official and current board member to return $5.4 million in pay he received after "putting his own interests above those of Hollinger's shareholders."
"Behind a constant stream of bombast regarding their accomplishments as self-described 'proprietors,' Black and Radler made it their business to line their pockets at the expense of Hollinger almost every day, in almost every way they could devise," said the report, prepared by the committee and its adviser, Richard Breeden, a former chairman of the Securities and Exchange Commission."

http://seattlepi.nwsource.com/business/188760_hollinger01.html


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