"Horrible Coincidence"
The CFO of Menu Foods, Mark Wiens, sold 14,000 shares of stock 14 days before the recall of their rat-poisoned pet food.
Was there a time lag between Menu Foods learning of the problem and their recall announcements?
You bet.
How long was that delay?
Three weeks.
Fucker.
via the Consumerist
Was there a time lag between Menu Foods learning of the problem and their recall announcements?
You bet.
How long was that delay?
Three weeks.
Fucker.
via the Consumerist
Labels: Shovel Justice
This entry was posted
on Thursday, April 12, 2007 at 6:27 PM.
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7:13 PMthat makes me SO angry.
he should have to pay for all the medical bills out of that money he made.
i can't even believe how shitty that is... i just feel so relieved that my boys weren't eating that food.
7:27 PM
Considering that the morally upright Kenneth Starr did something similar with seat belts and human deaths while working for G.E. (will it cost more to fix the belts or pay death benefits?), nothing surprises me.
Saddens and disgusts, yes. Surprises, no.
6:36 AM
Kendra, the company is paying the medical bills.
--
I'll admit, it looks a bit suspicious, but I would never pick any of you people to be on a jury. You've watched Wall Street one too many times. The man is worth millions, 89K in stock is not worth the reputation hit, the lawsuits and investigations, the condemnation from the general public (as displayed here) and the loss of his job. Frankly, I find it a bit disconcerting that you would judge him with no factual basis.
And my cats were eating the food.
[/devil's advocate]
8:10 AM
You're right, Nick. Our nation's industry leaders have never demonstrated crass disregard for health and safety in order to make/keep a quick buck before.
What could we be thinking? Shame on us.
*please note sarcasm*
8:48 AM
If you want to have a discussion, that's fine, we can do it without the sarcasm.
If you would rather just see what you want to see, regardless of facts, then that's between you and your conscience.
Assuming this man is guilty of an action with suspicious timing because assholes before him were guilty of similar unscrupulous behavior is what 15th Century Courts did.
9:33 AM
Nick - the link to the story was in Forbes. Forbes. Not one of the normal left-wing foaming at the mouth publications.
I linked to the article to provide context.
Given the company's circumstances, and his means, if I were him I would've tried to either:
1. Stop the transaction until the situation had played our publicly.
or, if that was not possible
2. Take one for the team, and donate the amount earned from the sale to the fund to settle claimants' medical bills.
In this case, IMHO, him feeling "horrible" about it is insufficient.
10:29 AM
How do you know what 15th century courts did? Or are you assuming?
11:17 AM
Sysm, Forbes got the story off the wire. I saw the exact same article on CBS.com and USAtoday.com, and lord knows nameless AP writers can be trusted to be unbiased in their reporting. I suppose we can assume that Forbes, CBS.com and USA Today all did their due dilligence and fact checked the story, as well.
All we know for sure is what the AP has told us; which is to say, very little.
I do agree with you that he should take one for the team and donate the profits from his stock sale.
If he is being truthful and it was just an unhappy accident I honestly don't think he should have to, but I do know that public perception can destroy people and companies, and if he is invested in his company (and I don't just mean financially) then he should do it. Not only for his image, but the image of his company and all the hard working people they employ.
And if he's not being truthful, then... well, then they should turn his lying ass into cat food.
11:22 AM
"And if he's not being truthful, then... well, then they should turn his lying ass into cat food."
Really?
That seems kind of extreme.
1:43 PM
"Chicken" Nuggets, then?
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