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Friday, July 23, 2010

Great NYT article on "The Enron of Kansas" or "The Fleecing of Westar, 1, 2, 3"

Just what it says--there is a terrific article at the NY Times site right now on Westar and the scandal that it became when David Wittig and Douglas Lake fleeced that company, right close by in our own Topeka, Kansas. Some of what these two thieving clowns did and a bit of the article: “During Wittig’s brief tenure with the company he managed to extract more than $25,000,000 in compensation and benefits,” the indictment read. “During Lake’s brief tenure with the Company he managed to extract more than $7,000,000 in compensation and benefits. During this same tenure Wittig and Lake presided over a company whose stock prices went from $44.00 per share to less than $9.00 per share, whose [energy] rates soared, whose debt increased to more than $3,000,000,000, and whose future was poised on the brink of bankruptcy.” It hints at the question I'd like to ask: Whatever happened to justice and "right and wrong" in this country? We know the answer, of course. They are whatever money says they are. We've created "the best Justice system money can buy." Have a great weekend, y'all. Link to original article: http://opinionator.blogs.nytimes.com/2010/07/22/what-happened-at-the-enron-of-kansas/?hp

2 comments:

mike@lakequivira said...

No wonder my rates are so high.................
Westar SUCKS!!!!!

Mo Rage said...

To use a cliche', Mike, this quote is but the "tip of the iceberg". If you read the rest of the article, you really can't believe how poorly the company was run and how screwed Westar's customers were. It's obscene what went on there. More Kansans should check that full column out.

mr