|
From the sound of that, sounds like
another Enron.....corprate big wigs doing the company in.
Greg
AP) Creditors of Kmart have filed a
civil suit accusing six former Kmart
executives of charging the company for nannies, luxury cars and private chauffeurs even as the discount retailer fought a losing battle against bankruptcy. The 116-page lawsuit filed Tuesday
by the Kmart Creditor Trust alleges that
former chief executive and chairman Chuck Conaway, former president Mark Schwartz and the four others cost Kmart more than $1 billion in personal and business expenses through poor management. The lawsuit claims the defendants
"engaged in a pattern of corporate waste
at a time when, to say the least, Kmart could ill afford it." The lawsuit says Conaway billed
Kmart $106,191 for improvements to his
private home, including $34,948 for a guardhouse and $3,590 for a "safe room". He had two company-issued Jaguars, plus a Lincoln Navigator and a driver to take his children to school. Greg Hopper
"Why is it that our children can't
read a Bible in school, but they can
in
prison?" |
_______________________________________________ Sndbox mailing list [EMAIL PROTECTED] http://sandboxmail.net/mailman/listinfo/sndbox_sandboxmail.net
