"Robert Sturgeon" wrote in message
...
On Sun, 28 Aug 2005 16:35:54 GMT, "John R. Carroll"
wrote:


"Robert Sturgeon" wrote in message
.. .
On Sat, 27 Aug 2005 17:22:50 -0700, Stuart Grey
wrote:

Jim Stewart wrote:
Cliff wrote:

http://moneycentral.msn.com/content/...0.asp?GT1=6820
[
The 5 most outrageously overpaid CEOs




These have either gone or are going to jail except for Lowell Milken.
Mike
went for him.

Dennis Kozloski, Tyco. Theft. Fraud, Conversion.

Tyco is still in business.

I didn't realize bankruptcy was a requirement.



Bernie Ebbers, WorldCom. Theft. Fraud, Conversion.

WorldCom was a fraud from the getgo - pure vapor. It would
have been gone regardless of what the execs did.

They aren't gone.


Michael Milken and his brother Lowell, Drexel Burnham. Perjury,
conversion,
Fraud ( Trade Parking )

You can also easily search on the following for details.

Jeffrey Skilling, Enron.
Kenneth Lay, Enron.
Ivan Boesky, various closed funds.
Thomas Case, Global Crossing Ltd.
Joseph Perrone, Global Crossing Ltd.
Dan Cohrs, Global Crossing Ltd.
Sir James Goldsmith, Various, but his run at Good Year is a classic
example
of greenmail.
Ronald Perlman, another green mailer. He did end up with Revlon in the
end.
Over the years Robert, there have been literally hundreds of instances.

That's quite a list, but you haven't detailed what they
actually DID. Did any of them ruin a company by stealing
from it?

You mention in another post that you do not accept assignments from other
posters. I don't either:)


What were the examples of "green mail"? How did that work?

In the Good Year instance Bob Mercer, GoodYear's chairman, paid Sir James
GoldSmith a substantial premium to go away.
Goldsmith was trying to buy and reorganize Goodyear. They were
underpreforming. Mercer saved his job. Green Mail is a form of extortion.


I'm NOT saying there hasn't been some bad behavior. I'd
just like people to be a little more exact, rather than
throwing out wild claims without any explanation of what the
crimes were supposed to be.

I don't know about "wild claims" but if you mean claims that top executives
are ruining our country I would say that any such claim is foolish and not
based on any version of reality I know of.


I don't particularly trust Fortune 500 executives, and I
doubt they really run the companies strictly for the benefit
of the stockholders, as they should. But to say, for
example, "Dan Cohrs, Global Crossing Ltd." as if that's
supposed to mean anything, is a bit much. Who is Dan Cohrs,
and what did he do to Global Crossing?
Mr. Dan Cohrs
Chief Financial Officer
Global Crossing Ltd.
Seven Giralda Farms
Madison, NJ, 07940

Dan was cooking the books.

--
John R. Carroll
Machining Solution Software, Inc.
Los Angeles San Francisco
www.machiningsolution.com