Although the article "The 5 most outrageously overpaid CEOs" is an exerpt from MSN Money, I am surprized that former Symbol CEO Tomo Razmilovic did not make just this list, but did not top it !!! Symbol is a technology products company based in Long Island New York mainly known for their innovating scanning and inventory products. Durring his tenure, the company lost over $200 million using the same CEO bait-and-switch tactics that Enron Executives did by over inflating revinues and manipulating the inventory and shipping of their products. As their stocks went down, only known to the main players of Symbol, investors were riding the ship into a false tropical island.
After Raz stepped down as CEO a few years later, he moved to the UK, securing a home in Sweden. When he was informed about his co-stituance arrest, and wanted back in the US by the SEC in 2004 on multiple charges for fraud and conspiracy, his response was that he would return back to the US and co-operate in full after his vacation was over. Since then, he had a change of plans and has fled to Sweden, in an attempt to escape the laws that haunts him here in the USA.
It is no doubt that he is an Enron mastermind of the east cost of the USA. Symbol Technology, although still in business, is forced to pay the SEC over $30 million in penalties and fines, while Raz is living life humbly in Sweden.
Do we hear any mention of this on the news ? Does George Bush see any need to bring Tamo to justice ? Has George Bush instituted any laws preventing or prohibiting the types of business practices of laundering numbers to investors ? Has anyone in our government done anything to bring Tomo Razmilovic to justice ? Despite our government knowing exactly the where-abouts of Tomo Razmilovic, by the thanks of investigative reporting by Johnathan Dienst and his investigation team of NBC News, the answer to all these questions are an unfortunate no. If you are asing yourself why does not George Bush put anything into law about these business practices, its because he himself was invloved in several businesses in the late 80s and early 90s, some holding positions equal to, or of similar positions that Tomo Razmilovic held at Symbol. Unfortunately, like Symbol Technology, none of theses busnisess ever became successful. Many of them, became bankrupt and was forced out of business. It is no wonder why this contry and its economy are suffering the same fate as those companies did.
As a liberal, I am outraged by this practice on how our government, the news, the press, and big business all mix together as one, stifling information that really matters, which affects everyones lives. I've enjoyed reading everyones input regarding this subject.
