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Herman Cain
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<blockquote data-quote="The Other Side" data-source="post: 841873" data-attributes="member: 17969"><p>I like Herman Cains Baggage. Lets start with this gem!</p><p></p><p>Cain joined the board of directors of an energy company called AQULA back in 1992.. In a similiar fashion to ENRON, CAIN and the other executives "steered" employees into converting their pension contributions into company stock where they would be rewarded with high returns. When ENRON collapsed after a huge scandal that ripped off its employees, AQUILA suffered the same fate while CAIN oversaw over 30 million dollars to be paid to executives while the employees took it in the shorts losing EVERYTHING.</p><p></p><p>CAINs business experience ended up costing the company MILLIONS of dollars and several lawsuits. The employees sued the company and eventually won a settlement of 10 million dollars.</p><p></p><p>"According to five lawsuits filed in federal court in 2004, Aquila's board of directors—which Cain joined in 1992—allegedly steered employees into heavily investing their retirement savings in company stock. At the same time, the company shifted its business model from straightforward energy generation to risky energy trading, an unregulated market made infamous by now-defunct Enron. The suits, later folded into a single, massive class action (<span style="color: #000000">PDF</span>), alleged that Cain and top company officials violated a <span style="color: #000000">37-year-old federal law</span> requiring that employers manage employees retirement programs responsibly. (Cain's presidential exploratory committee did not respond to a request for comment.)""</p><p></p><p></p><p>I wonder why FOXED SPEWS hasnt brought this little gem to the forefront of CAINS business leadership??????</p><p></p><p>While on the board of AQUILA the company was driven straight into the ground and the employess ( I imagine, are saying "HOWD THAT WORK OUT FOR YA?")</p><p></p><p>CAINs business savy can be explained by this:</p><p></p><p>"<span style="color: blue">It was a dangerous move—as a company spokesman later put it, "the risk was huge." In the end, it proved disastrous. Aquila's decision to join Enron, Reliant Energy, and the other heavy-hitters in the energy trading markets would ultimately wipe out 94 percent of Aquila's stock value between 1999 and 2004</span>"</p><p></p><p><span style="color: black">Gee? I wonder who was president during that period?? HMMMM?</span></p><p></p><p>Oh yeah, GEORGE W. BUSH.</p><p></p><p>Seems like Bush and Cain have the same talent for running companies into the ground!</p><p></p><p>Good luck defending this story HERMAN MONSTER!</p><p><img src="http://t1.gstatic.com/images?q=tbn:ANd9GcQjL5VdzwUYIIUShPokVClHt8_bopDUlTFajanxg3SjX48xGzhd" alt="" class="fr-fic fr-dii fr-draggable " style="" /></p><p></p><p>Peace <img src="/community/styles/default/xenforo/smilies/FeltTip/peaceful.png" class="smilie" loading="lazy" alt=":peaceful:" title="Peaceful :peaceful:" data-shortname=":peaceful:" /></p></blockquote><p></p>
[QUOTE="The Other Side, post: 841873, member: 17969"] I like Herman Cains Baggage. Lets start with this gem! Cain joined the board of directors of an energy company called AQULA back in 1992.. In a similiar fashion to ENRON, CAIN and the other executives "steered" employees into converting their pension contributions into company stock where they would be rewarded with high returns. When ENRON collapsed after a huge scandal that ripped off its employees, AQUILA suffered the same fate while CAIN oversaw over 30 million dollars to be paid to executives while the employees took it in the shorts losing EVERYTHING. CAINs business experience ended up costing the company MILLIONS of dollars and several lawsuits. The employees sued the company and eventually won a settlement of 10 million dollars. "According to five lawsuits filed in federal court in 2004, Aquila's board of directors—which Cain joined in 1992—allegedly steered employees into heavily investing their retirement savings in company stock. At the same time, the company shifted its business model from straightforward energy generation to risky energy trading, an unregulated market made infamous by now-defunct Enron. The suits, later folded into a single, massive class action ([COLOR=#000000]PDF[/COLOR]), alleged that Cain and top company officials violated a [COLOR=#000000]37-year-old federal law[/COLOR] requiring that employers manage employees retirement programs responsibly. (Cain's presidential exploratory committee did not respond to a request for comment.)"" I wonder why FOXED SPEWS hasnt brought this little gem to the forefront of CAINS business leadership?????? While on the board of AQUILA the company was driven straight into the ground and the employess ( I imagine, are saying "HOWD THAT WORK OUT FOR YA?") CAINs business savy can be explained by this: "[COLOR=blue]It was a dangerous move—as a company spokesman later put it, "the risk was huge." In the end, it proved disastrous. Aquila's decision to join Enron, Reliant Energy, and the other heavy-hitters in the energy trading markets would ultimately wipe out 94 percent of Aquila's stock value between 1999 and 2004[/COLOR]" [COLOR=black]Gee? I wonder who was president during that period?? HMMMM?[/COLOR] Oh yeah, GEORGE W. BUSH. Seems like Bush and Cain have the same talent for running companies into the ground! Good luck defending this story HERMAN MONSTER! [IMG]http://t1.gstatic.com/images?q=tbn:ANd9GcQjL5VdzwUYIIUShPokVClHt8_bopDUlTFajanxg3SjX48xGzhd[/IMG] Peace :peaceful: [/QUOTE]
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