Whiner

Nothing is my fault, whines Perle.....

WSJ.com - Hollinger Failed to Fully Inform
Board of Directors, Perle Says:

Hollinger International Inc. board member Richard Perle, criticized sharply in last week's board-committee report for failing to fulfill his fiduciary duties, defended his conduct, saying the company's management withheld or obscured information needed to make informed judgments.


A detailed report released last week by Hollinger's special committee alleged that former Hollinger executives Conrad Black and David Radler extracted more than $400 million, or about €330 million, through years of "aggressive looting" of the Chicago publishing company through various forms of improper compensation. The executives denounced the report and said payments they received were approved by the board.


The report criticized the performance of Hollinger's board, but also noted the board sometimes wasn't given the proper information it required. The report singled out Mr. Perle for being a "faithless fiduciary" who, as a member of the board's executive committee, rubber-stamped certain related-party transactions that Mr. Perle, a former U.S. Defense Department official, "had a motive to abdicate his fiduciary duties as an executive-committee member so as to accommodate the persons responsible for his huge Hollinger compensation," alleged the report, which was based on an investigation headed by former U.S. Securities and Exchange Commission chairman Richard Breeden. Mr. Perle's compensation included about $3 million of bonus payments tied to Hollinger Digital, a company investment vehicle in which Mr. Perle was an official, the report said. The report calls for Mr. Perle to return more than $5 million in total compensation received from Hollinger International.