Joe Nacchio, does indictment feel worse than being fact-checked?
One of my posts noted Nacchio’s whining, observing that he’d gotten seriously richer while his company was losing much of its market value—another example of CEOs raking in the riches while shareholders, employees, and communities got the shaft. Seconds later I received an email from Buzz Bruggeman, a lawyer in Florida, who was following my weblog and Searls’s from his office in Orlando. "Ain't America great?" Bruggeman wrote sarcastically, attaching a hyperlink to a Yahoo! Finance web page showing that Nacchio had cashed in more than $200 million in stock while his company’s stock price was heading downhill. This information struck me as relevant to what I was writing, and I immediately dropped this juicy tidbit into my weblog, with a cyber-tip of the hat to Bruggeman. ("Thanks, Buzz, for the link," I wrote parenthetically.) Doc Searls did likewise. "Around that point, the audience turned hostile," wrote Esther Dyson [more...]
It's hard to believe the event Dan recalled took place in March 2002. Justice is not swift. However, Naccho is finally in a bit deeper trouble now.