mnottertail
Posts: 60698
Joined: 11/3/2004 Status: offline
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quote:
ORIGINAL: FirmhandKY quote:
ORIGINAL: Icarys The spectacular failure of Aquila's trading venture practically wiped out the hard-earned retirement savings of veteran employees. Richard Itteilag, a plaintiff in the Aquila class action, lost 87 percent of his savings. Robert Goodson, a 20-year Aquila employee, lost 75 percent. Michael Reinhardt lost a staggering 94 percent. All told, thousands of employees saw their retirement funds eviscerated thanks to Aquila's Enron-esque activities. (In 2007, Aquila settled with the employees for $10.5 million. Not long after, Aquila merged with other Midwestern energy companies and now no longer operates as Aquila.) Cain also saw fit to dole out $30 million in bonuses, not including stock options, to the top five execs at Aquila in 2002, with the company's stock plummeting. A month after the Kansas City Star reported on the hefty bonuses in July 2002, the company laid off 500 employees, and the losses to employees holding company stock had reached hundreds of millions of dollars. As a board member, Cain would've had direct knowledge of Aquila's activities, says Fred Taylor Isquith, a New York attorney who litigated the employee class action. Asked if it was fair to place blame on Cain for the debacle at Aquila, Isquith replied, "Yes, I believe it is." http://motherjones.com/politics/2011/05/herman-cain-aquila-l... We have our superfecta. Firm Firm, the bankrupting sort of individuals are of particular interest and very worth the discussion and should not be considered a slam against the entire party, but yanno, we had one of those and as their business acumen goes, so goes the nation. So, what's the beef?
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Have they not divided the prey; to every man a damsel or two? Judges 5:30
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