24 July 2004
Replenishing the chutzpah fund
NorthWestern Corporation, based in Sioux Falls, South Dakota, is reorganizing under federal bankruptcy protection; president/CEO Gary Drook says the company should be financially sound and on its own again by this fall. "Don't worry about ownership," he reportedly has told employees: "I'll be out of a job, but you'll still have one."
Not that Drook plans to suffer any: he's asking the bankruptcy court for nearly $3 million in severance, and $3.5 million for three other top NorthWestern officers.
This isn't quite as galling as, say, the Menendez brothers asking for clemency because they're orphans, but it's close.
(Via MT Politics)Posted at 10:41 AM to Wastes of Oxygen