Wednesday, January 09, 2008

Another CEO ripping off shareholders..........

Qwest's amended employment agreements were recently voted "The 2007 Footnote of the Year" by blog readers. The amendment allows the CEO's daughter to use the corporate jet to commute to high school from Denver to California. As the Rocky Mountain News reported, the stepdaughter attends high school in California and Qwest is based in Denver.

"The amendment reflects a great appreciation for his family situation as his daughter wraps up her current schooling in California," the Qwest spokesman said. Assuming normal charter rates for the Falcon 2000, this could be up to $1 million extra in school fees that the shareholders of Qwest are contributing to the general welfare.

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