The looting of the Sun-Times

Sun-Times ^ | Sept 1, 2004 | Eric Herman

[endthematrix]

Through schemes large and small, top executives fleeced the company that owns the Chicago Sun-Times, pocketing more than $400 million, or 95 percent of the profits over seven years, according to a report made public Tuesday.

The company, Hollinger International, sits at the center of a heated battle between controlling shareholder Conrad Black and the board of directors -- in particular, a "special committee" of directors investigating Black. The 513-page report, filed in U.S. District Court in Chicago on Monday, represents the findings of an adviser hired by the committee to probe Black's dealings.

The adviser, former U.S. Securities and Exchange Commission Chairman Richard Breeden, also takes aim at former Sun-Times Publisher and Hollinger International executive F. David Radler, Black's wife Barbara Amiel Black, and others.

[endthematrix]

Click on the link. Good backgrounder. Pretty large center-fold spread out of the Sun-Times, a holding of Hollinger, Int. This has been brewing over a year now. Another round of elitists are about to get a slap on the wrist..then they will be on to more looting! Key players all around.

[coconutt2000]

Another example of corruption started under Clinton and caught under Bush.

[endthematrix]

Prety good spread inside the Sun-Times. Lady Black's B-day was only $42,900. Not even close to Mrs. TYCO stealer at over a million.

Mod, a Sun-Times check.

[sharktrager]

The truth is even more insidious.

Some idiot gave Ebert an "All the Krispe Kremes You Can Eat" clause in his contract, and he invited Michael Moore over for coffee.

[endthematrix]

It has less to do about Clinton or Bush. More about greed and power. They ALL sit and BS about stiffing the little guy.

[coconutt2000]

Pretty much my point. Dems and Libs say GWB is corrupt because companies are corrupt.

I like to point out that those companies were corrupt well before GWB became President.

I think much of the corruption has come out into the light in part because the of the tax cuts on dividends. With shareholders looking at their shares as a source of dividend income now, they want to make sure they're really getting that bang for their buck that they previously didn't care about.

A strong leader also helps encourage our law enforcement agents to look into things and investigate things... Although I think we need to write the White House after GWB is re-elected and ask him to be tough on corrupt politicians and appointees who are caught doing dirty deeds - like stuffing documents in their socks.

[Lurker]

For later.

Thanks.

L

[fat city]

What you'll see next is the Sun-Times selling its subscription list to the Trib for $1.5 billion and folding.

[Lancey Howard]

LOL

[Political Junkie Too]

They splash the ink on the newsprint accusing Halliburton of everything from destroying the environment to stealing from the poor Iraqis, but it turns out that it's the newspapers that are looting the assets.

-PJ

[BigSkyFreeper]

It's all Bush's fault.

[endthematrix]

No, he just has dinner out with the one who are.

[Dr. Eckleburg]

Pathetic. I remember when there were four dailies in Chicago.

[sonofatpatcher2]

Did they steal all their spitballs?

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[chicagolady]

Chicago SunTimes the Democratic machine news paper.
They got ripped off by a bunch of Democrats!!

[endthematrix]

Perle, Thompson and Kissinger? No. Money grabs are nonpartisan affairs, I'm afraid.