The Finch Formerly Known As Gold

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

This has nothing to do with your recent swing through there, does it?

Posted by: The Proprietor at 1:01 PM on 24 July 2004

I don't think so; even my capacity for self-indulgence couldn't have bankrupted a utility company that quickly.

Posted by: CGHill at 1:22 PM on 24 July 2004