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Strategies & Market Trends : Trend Setters and Range Riders
MSFT 481.28-1.8%11:00 AM EST

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To: Susan G who wrote (22576)8/16/2002 8:23:22 AM
From: kendall harmon  Read Replies (1) of 26752
 
Suspicious behavior, speaking of which, Susan you will love this:

From Realmoney.com
kendall Harmon
guest columnist

In the overnight papers, consider what is occurring Down Under.

Australians are watching with great interest as the largest insurance bankruptcy in their history, HIH, is being investigated. Ray Williams, the CEO who drove the HIH roller coaster all the way up and most of the way down, has broken a 17-month silence on his company's spectacular multi-billion dollar collapse. While developing Australian's second largest insurer, Williams enjoyed a luxurious lifestyle that included a salary package that rose to $1.5 million a year. He also bought a $2.8 million Mediterranean-style retreat home, in addition to his regular house.

Among the things that have emerged in the course of the investigation is that during his travels Ray Williams had an unusual way of making room for his briefcase. He booked it a first class seat.

The following is a transcript from the HIH hearing with Wayne Martin QC examining Raymond Reginald Williams, the latter being a Member of the Order of Australia (AM).

Martin: "Could you tell us please if, on your frequent first-class trips to London, you booked the seat next to you for your briefcase?"

Williams: "I don't recall specifically. But that may have been the case, on some occasions."

Martin: "That your briefcase was also travelling first class?"

Williams: "That may have been the case."

Martin: "Did you express the view to Qantas that this briefcase should be eligible for frequent flier points?"

Williams: "I can't recall that."

Martin: "And were you subsequently informed that said briefcase would not be eligible for such points on the grounds that it was not, infact, a person?"

Williams: "That may have been the airline's position on that issue."

Martin: "Was that briefcase, from that point on, booked under the name of Casey Williams?"

Williams: "Casey Reginald Williams AM."

Truth is stranger than fiction, don't you think?

onebusiness.nzoom.com
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