More alleged incidents of LG fraud provided by a former Zenith employee:
"According to a book I read (Defining Vision) on the Grand Alliance, Zenith had a deal to sell the CE group in the early '90s(?), but George Bush stepped in and threatened the buyer. That's why they had to sell the computer division to Group Bull for $400M and Zenith hunkered down and waited for their HDTV investment to pay off. I always wondered why there was no Chrysler-type bailout then.
At the time LG offered $350M to buy an additional 46% and become the majority owner, the picture tube plant could not produce 32" and 35" tubes. (Zenith was buying tubes from Toshiba.)
I sensed a conspiracy after the picture tube plant retooled (under orders of LG) and the yield was down from 20,000 to 2000 tubes/day.
My internal contacts had told me at that time that LG, who sold the new equipment to Zenith for $350M and installed it, did not properly train the employees on the operation. They held vital information secret. Also, the new equipment was made of aluminum, even though it was fashioned after a working plant in Korea which was made of cast iron or steel. The tubes were warping and the engineers could not resolve the problem. Ever! This cost the company everything and LG was able to scoop it up for a song.
I always found it fishy that LG demanded payment for the equipment immediately, from the proceeds of the investment."
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A few of many questions to be addressed in court:
1. Why did George Bush scare off the potential buyer of Zenith's CE Division and why did Bon-moo Koo, LG CEO, shortly after, become one of the largest ($100,000 or more) personal donors to the George Bush Presidential Library?
2. Why did LG pay $350 million for an additional 46% of Zenith (they already owned 5%) and, shortly after, charge Zenith $350 million for faulty equipment?
3. Why didn't LG train Zenith employees to properly use the new equipment?
4. How much of the new equipment purchased by Zenith was for future FTM production that Zenith never produced and later was used by LG?
5. Why did Zenith's directors rubber stamp every directive made by LG even though the vast majority of the directives appear to have greatly favored LG and decimated the value of Zenith?
This conspiracy is just coming to full light. In court, all the cards will be laid on the table and the wrong doers brought to justice. Zenith lives.....
Other contributions from present and former Zenith employees are welcomed. Please e-mail me at bobutne@aol.com. Your assistance is invaluable to all who want to stop this continued rape and, certainly, your confidentiality will be honored. |
