The Fleecing of Westar (and Kansas): 1, 2, 3, Part II

News from a front page article in The Kansas City Star today tells "After nearly eight years and two trials, federal prosecutors on Friday dismissed all charges against former Westar Energy executives David Wittig and Douglas Lake." I was stunned. Holy cow. These two all but knocked down your Grandmother, raped her and stole her money and here they are, getting off, scott-free. Truly, who says crime doesn't pay? And why do I say this? As you may have read here on an earlier post, look at just a short, abbreviated list of what these two did while at Westar, as shown by The New York Times: “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.” Again, keep in mind, this is only a partial list. So, folks, if you're a Kansas electric rate-payer or a Westar stock owner from this time frame, the fact is, you just got screwed. And you got screwed big time. For all the rest of us who are simply law-abiding citizens, well, forget about all that. Crime does pay, ladies and gentlemen. Just make sure, when you do it, you go after HUGE amounts at the top of a corporation--not that little stuff you get holding up a Quickie Mart. Try to have a great weekend, y'all. Link to original posts: http://www.kansascity.com/2010/08/20/2164274/charges-against-former-westar.html http://moravings.blogspot.com/2010/07/great-nyt-article-on-enron-of-kansas-or.html http://opinionator.blogs.nytimes.com/2010/07/22/what-happened-at-the-enron-of-kansas/?hp

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