| Poor Martha |
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| e-mail message, March 26, 2004 |
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| W. Bush, board members discussed a stock offering they
hoped would bring in enough money to keep the company solvent. |
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| Bush was named to the board's 'Fairness
Committee,' which was to measure the effects
of bankruptcy on small stockholders. By late May 1990, internal memos warned that
there was no source of immediate financing, loans were slipping out of compliance,
banks were demanding guarantees of sufficient equity to cover loans. |
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| As Chairman of the audit committee actually working with
the accounting consultants called in by the board, Bush knew exactly how grim their
conclusions were. He was warned, along with other directors, in a May 25 memo that
it would be illegal to dump his stock. In June he left the small stockholders holding
the bag. He dumped $848,560 of the stock without disclosing the sale to the SEC. |
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| On Aug 22 Harken's second quarter report predicted $23
million in losses. Once the news hit the street, the stock sank immediately from
$4 to $2.57. It bottomed out at 22 cents a share. |
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| Today Martha Stewart is going to jail and George Bush
is President. |
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Editor's Note : Kevin received this as an e-mail
message today, he calls it an urban legend because it is one of those things that
gets passed around in the cyberworld without a source or means of verification. As
I read it over it seemed to strike a chord with my memory and so I did a little search
on Harken Oil. It seems (below) there is more than just a little substance
to the alligations made in this short message.
TWS
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| References: |
Vulliamy, Ed, Bush squirms
in sleaze scandal, July 14, 2002, The Observer
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The Center for Public Integrity The
buying of the President 2004, President George W. Bush, as seen on web site March
26, 2004, The Center for Public Integrity, Investigative journalism in the Public
Interest
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Frost, Greg, USA:
Bush Oil Firm Did Enron-Style Deal, October 9, 2004, Reuters, CorpWatch
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CBS News Bush
Sold Stock Despite Promise, July 16, 2004, CBS Marketwatch
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News
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| This page is a story posted on Ensign and/or Saskatchewan
News, both of which are daily web sites offering a variety of material from scenic
images, political commentary, information and news. These publications are the work
of Faster Than Light Communications . If you would like to comment on this story or you wish to contact
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Editor : Timothy W. Shire
Faster Than Light Communication
Box 1776, Tisdale, Saskatchewan, Canada, S0E 1T0
306 873 2004
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