People like to point out the fact that Cain is a breathe of fresh air because he isn't a typical politician.
He has the background of a successful executive.
He knows how to solve problems.
Well aside from his wonderful time as the chairman of the Kansas Federal Reserve, his support of Alan Greenspan's service as chairman of THE FED, his
undying support of the fed NOT needing to be audited, his very famous words "If You Don't Have A Job And You're Not Rich, Blame Yourself".
Cain's Enron-esque disaster: employees screwed, executives make out with huge bonuses.
motherjones.com...
You guys have to read this whole thing...
It was a dangerous move—as a company spokesman later put it, "the risk was huge." In the end, it proved disastrous. Aquila's decision to join Enron,
Reliant Energy, and the other heavy-hitters in the energy trading markets would ultimately wipe out 94 percent of Aquila's stock value between 1999
and 2004. The company also faced criticism for using some of the same trading tricks that Enron did as a way to puff up its stock price, the lawsuit
says. That included using "roundtrip" trades, a scheme in which Aquila would sell a trading partner some energy and then that partner would sell the
same amount back to Aquila, a deal that canceled itself out. In the end, nothing actually changed hands. But it boosted Aquila's trading volume and
revenue, sending a positive signal to the markets. The company also engaged in megawatt laundering, or "ricochet" trading, the lawsuit alleges. In
such transactions, Aquila and other companies would buy energy from California at a lower capped price, move that energy out of the state, then
re-sell it back to California at a higher price for a tidy profit.
And for those wondering about his performance as the pizza man.
Godfather's Pizza sales dropped 46% during Cain's time (even after being adjusted for inflation)
:
jayraskin.wordpress.com...
1985: $325 million[iii] (720 stores)
Pillsbury assigns Herman Cain to run Godfather’s Pizza in April 1986
1986: $275 million[iv] (640 stores)
1987: $260 million[v] (605 stores) (sales per store $414,000)[vi]
1988: $242.5 million[vii] (563 stores) Pillsbury sells Godfather’s Pizza to Cain and management group in a leveraged buyout for $40 million.
1989: $225 million[viii] (509 stores)
1990: $229 million[ix] (512 stores)
1991: $231 million[x] (525 stores)
1992: $242 million
1993: $249.5 million
1994: $244 million[xi] (514 stores) (sales per store 490,000)
1995: $260 million (525 stores)
1996: $265.5 million (540 stores) (sales per store $500,000) Cain becomes CEO of the National Restaurants Association in 1996, but was still on
Godfather’s Management Board.
1997: $270.8 million[xii]
1998: $280 million
1999: $280 million
2000: $288 million[xiii]
2001: $280 million
2002: $287 million (560 stores) (sales per store 502,200)[xiv] Cain steps down from Godfather’s Management Board
edit on 12-10-2011 by eLPresidente because: (no reason given)
