28 December 2006

CNN Money and Christopher King explain American Tower's "Sneaky options scheme."

See, the $15M that company execs just paid out over their deceitful backdated stock options and $300K in overtime fines settlement is really nothing, as I noted in this blawg entry yesterday. It's all very similar to what Enron crook Andy Fastow did. Read Bethany McLean's CNN piece here. Fastow is now serving his 10-year stint, schucking spuds at ClubFed.

Here's my/letter to former American Tower Chairman Steve Dodge and my first letter to American Tower from 2000 as I sought employment with this company to which I refer to as my "Holy Grail." Be careful of what you ask.

So while no one at American Tower has been indicted -- yet -- isn't that scene from the Boston Works advertising campaign, showing American Tower's headquarters at 116 Huntington, just a tad ironic? If you want to see more of that fascia and ATC's Woburn, MA American Tower facility and see how the company treated its worker bees as it built its empire, watch American Lawyer II and III at KingCast.net. Jim Taiclet, Gordon Gekko, whatever.


Anonymous said...

Any idea why there have been no management changes? I don't understand how/why shareholders put up with such unethical behavior of their management team. Not just those 'named' at having to pay back - what about your VP friend in HR - she should be shaking in her boots. She'd be top on my list - creating and supporting a racist corporate culture AND ripping off their employees. She's stepped on anyone and everyone to get where she's at - rumor has it she's looking for a job - interesting to see who would hire her!

Christopher King said...

For the most part it just doesn't matter in America anymore -- and I'm not certain it ever did -- unless or until everything implodes a la Enron.

And all of these people will probably find jobs because it just doesn't matter.

BTW speaking of racist, did you know American Tower had not kept proper EEOC documentation until 2002?

I've got it all in storage.


But again, it just doesn't matter. I just do this so that anyone who looks who might care, such as people like the CNN reporter who wrote the underlying story, knows the truth:

No company -- but especially one making that much money -- has a right to treat its employees the way that American Tower did, as noted in my letter to then-Chairman Dodge.


Christopher King said...

And by EEOC I am specifically referring to Executive Orders 11246/11375.