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View Diary: PolitiFACT openly admits FACTS are not its focus (119 comments)

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  •  They gotta do something (5+ / 0-)
    Recommended by:
    RichM, Marie, stormicats, caul, sockpuppet

    I've noticed that CEO's also magically improve the quality of catered lunches simply by appearing at a business meeting.

    •  Or, in George W. Bush's case: (6+ / 0-)
      In 1982, Arbusto became known as Bush Exploration, a year after George H. W. Bush became Vice President. A friend of the Bush family invested $1 million in exchange for a 10% stake in the company, at a time when the whole company was valued at less than $400,000. As it neared financial collapse again in September 1984, Bush Exploration merged with Spectrum 7 Energy Corp. After the merger, Bush became the Chairman and CEO.

      In 1986, after reporting a net loss of $1.5 million the previous year, Spectrum 7 was purchased by Harken Oil and Gas for $2.2 million at the time one-third owned by noted investor George Soros.

      Years later, Soros, offered a reason why Harken bought the failing Spectrum 7:

      "I didn't know him. He was supposed to bring in the Gulf connection. But it didn't come to anything. We were buying political influence. That was it. He was not much of a businessman."

      Numerous Harken officials have said over the years that Mr Bush's presence at Spectrum7 made the failing company more attractive than it would otherwise have been.

      "A cynical, mercenary, demagogic press will produce in time a people as base as itself." - Joseph Pulitzer

      by CFAmick on Tue Jan 31, 2012 at 09:28:07 AM PST

      [ Parent ]

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