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Learn how and when to remove this template message Black became involved in a number of businesses, mainly publishing newspapers, starting when he was still in university. Following the foundation as an investment vehicle of the Ravelston Corporation by the Black family inBlack, together with friends David Radler and Peter G.
White, purchased and operated the Sherbrooke Recordthe small English language daily in SherbrookeQuebec. Inthe three formed Sterling Newspapers Limited, a holding company that acquired several other small Canadian regional daily and weekly newspapers, including the Prince Rupert Daily News and the Summerside, Prince Edward IslandJournal-Pioneer.
Corporate ownership through holding companies[ edit ] George Black died in Juneten days after his wife, leaving Conrad Black and his older brother, Montegu, a Argus controlled large stakes in five Canadian corporations: Taylorthe first two presidents of Argus.
This episode covered the period during which Conrad Black became president of Argus Corporation following the death of McDougald. Black's new associate, Nelson M. Patrick WatsonDonald mcdougald thesis host and narrator of series interviewed the two widows in their Florida retirement homes.
McDougal and her sister Mrs. Black resigned as Chairman of Massey Ferguson company on 23 Mayafter which Argus donated its shares to the employees pension funds both salaried and union. In a filing with the U. The filing did not include a disclosure that Norcen's board planned to seek majority control.
Black subsequently was charged by the SEC with filing misleading public statements. These charges were later withdrawn.
The company said it considered the surplus the rightful property of the employer Dominion Stores Ltd. The Dominion employees' union the United Food and Commercial Workers protested, a public outcry ensued, and the case went to court. The Supreme Court of Ontario ruled against the company, and ordered the company to return the money to the pension fund, claiming that though the most recent language in the plan suggested the employer had ownership of the surplus, the original intention was to keep the surplus in the plan to increase members' benefits.
Black had negotiated the acquisition of that stock from Power Corporation chairman Paul G. Desmarais in to become, as put it a 'real proprietor'.
Black supervised the divesting of interests in manufacturing, retailing, broadcasting and ultimately oil, gas and mining. Canadian writer John Ralston Saul argued in"Lord Black was never a real 'capitalist' because he never created wealth, only dismantled wealth.
His career has been largely about stripping corporations. Five years later, he bought The Jerusalem Post, and byhis companies ran over newspaper titles in North America, the majority of them small community papers.
For a time from this date he headed the third-largest newspaper group in the Western World. Black and Radler acquired the Chicago Sun-Times in Hollinger International shares were listed on New York Stock Exchange inat which time the company boosted its stake in Southam to a control position.
This newspaper was sold throughout the country in direct competition with the Globe and Mail. The special committee and its counsel, former Chairman of the SEC Richard Breedendiscovered that David Radler had misled the Hollinger directors, including Black about the extent of his own participation in some of the related party transactions to sell otherwise unclaimed community newspapers in the US and also that two of the smaller transactions involving non-compete payments had not been signed by the vendors.
Kissingerwho was a Director of Hollinger, when the special committee, without warning, sued Black and others civilly. Black counter-sued, and included a libel suit in Canada. The libel settlement was by far the largest in Canadian history.
When the latter was sold inthe U. Black has disclosed his intention to remain and perhaps reacquire. According to biographer Tom Bower"They flaunted their wealth.
Black has always denied that he spent more than his income and position justified. Having departed the country, he was dropped from the list. It was conceded by the court that he had been a constructive influence in both prisons where he was detained.
Reduced to 42 months following appeal and re-sentencing and after the sentence had largely been served. Date apprehended Surrendered 3 March District Court in Chicago on 13 July Appeals resulted in two of Black's three criminal fraud charges being vacated, and his conviction for obstruction of justice was upheld.
Black was initially found guilty of diverting funds for personal benefit from money due to Hollinger International, and of other irregularities.Donald mcdougald thesis do college essays does not entirely with the authorsStudy Wind Energy in the part-time distance learning Master of Science Wind Energy Systems offered by Fraunhofer and the University of Kassel, caninariojana.com thesis shows that high renewable energy Wind Energy.
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