Tuesday, March 25, 2003

A 'naked theft' A federal grand jury indicted U.S. Technologies CEO C. Gregory Earls with defrauding investors of $15 million. According to Associated Press, a prosecutor called his actions "a naked theft of investors' money". Earls' lawyer called the charges "overblown and substantially embellished". Whatever. Ho hum, another indictment. When is one of these thieves going to trial, much less going to jail? 9:31:36 AM    Oh yeah? [] Talk about taking over the Treasury Bloomberg News reports that railroad company CSX paid departing CEO John Snow $60.8 million after he resigned to become US Secretary of the Treasury. He received: $8.7 million in deferred compensation over 17 years $18.9 million in stock accrued over ten years $33.2 million in a lump sum pension payment Referring to Saturday's story about Dick Brown's ouster, the moral appears to be that it's worth about $23.4 million between being forced out by the board and leaving on your own terms. 9:17:26 AM    Oh yeah? []