Monday, April 16, 2007

Retired Hartford Courant reporter to SEC: "Investigate this (sale) thoroughly"

Very concerned about the Zell Deal, Thomas D. Williams of Litchfield, CT fires off a letter to the Securities and Exchange Commission adding his voice to the outrage over the ESOP deal's benefit to Tribune executives first, employees last.

"There are at least two monumental questions here: How can these executives, responsible for this giant corporation and the well being of its employees and stockholders, create two classes of people: themselves who gain millions in income even when the company they manage is failing to measure up; and employees/stockholders who are lured into stock transactions that continue to threaten their financial well being? And how can corporate executives pay themselves millions for the sale of their own company when that sale requires discretion on who to sell the company to and was forced by their own operations of the company?"

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