Sunday, August 14, 2005

Corporate America

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Mr. Wiederhorn is a brilliant and hard-driving businessman, a financial whiz. By the age of 32, he had built up a fortune of nearly $140 million and created 800 jobs.

But then his company collapsed (costing ordinary people millions of dollars in pensions), and he re-emerged as head of Fog Cutter Capital. A year ago, facing indictment on dozens of charges that could have sent him to prison for life, Mr. Wiederhorn pleaded guilty to federal charges related to an unlawful gratuity and filing a false tax return. He was sentenced to 18 months in prison and required to pay $2 million in restitution.

That's when the Fog Cutter board displayed spine-tingling chutzpah. The board announced that it would continue to employ Mr. Wiederhorn at full salary while he is behind bars, and it even granted him a leave of absence payment of $2 million to make up for the restitution he had to pay.
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Oooh. I love corporate America. Get the full story by punching Corporate America on its face.
Lucky bastard though. I don't think anyone is willing to pay me that kind of money even when I am out of prison. You think it is the striped shirts that make a difference? Mine tend to plain mostly.

1 Comments:

Blogger Unknown said...

Plain shirts are plain boring. Do away with them or they will hound you till prison.

The speacial comments on your posts always intrigue me enough :-)

6:05 AM  

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